FINANCIAL UPDATE
LGCC continues to hit revenue targets as seen below . Expenses are ahead of budget by less than 4 % or $ 33,000 through July . This equates to less than $ 5,000 / month but management is working diligently to manage costs and reduce where possible before year-end .
The main revenue categories for the club are Golf , Food & Beverage ( F & B ), and Member Dues . The chart below compares the first six months of 2022 to the same periods for 2021 and 2018 .
• Golf revenue in 2022 continues to track ahead of last year and 25 % ahead of 2018 .
• F & B revenue is behind the heyday of 2018 but well ahead of last year . More outside events will eventually get the club back to pre-Covid levels .
• Member Dues are improving thanks to modest rate increases and new memberships . Through July , we have a net of 18 new memberships against a goal for 25 new memberships .
REVENUE JAN-JULY 2022 JAN-JULY 2021 % INCREASE JAN-JULY 2018 % INCREASE
Golf $ 209,660 $ 231,660 8 % $ 199,677 25 %
F & B $ 266,133 $ 202,296 32 % $ 370,845 -28 %
Dues $ 419,000 $ 411,429 2 % $ 397,923 5 %
Total $ 934,793 $ 845,385 11 % $ 968,445 -3 %
Members should be comfortable that overall club finances are improving as we get farther away from the Covid year ( s ) disruptions . Management continues to work through the challenges of deferred maintenance , staffing , weather cancellations , and other ups and downs of club management .
Please voice your suggestions via email to help influence 2023 budget discussion in October and November . Tim Burkhart and I would love to hear where you think priorities should be in 2023 and beyond . Thanks for your support .
See you at the club !
Natalie Garvis
Finance Committee Chair 11