30° 25.60’N 86° 35.58’W
February 2020
Another major event that occurred in December, was
that not only did we fully fund the various accounts
for Building, Capital Improvements, Dock and Boat
fund, but we also paid off $6,000 of the outstanding
unfunded accounts carried over from previous years.
That balance is now under $50,000 for the first time
in a long time. We earned this reduction without
writing off any of the accounts.
A Message from our
General Manager
The club closed out the year on
a very positive note. Food sales
for December hit almost
$50,000 due to the large
number of parties, events and
weddings. This helped the club
and the kitchen actually make a
profit for the month. This is the
first time in the last five years
and probably in the history of
the club.
Letter Log
Our budget for fiscal year 2020 shows a continuation
of these numbers and January is off to a great start.
We have successfully hosted the Northwest Florida
League of Cities through the town of Cinco Bayou
and the Playground Area Corvette Club. The Corvette
Club is looking to start holding their monthly
meetings here. They are sponsored by new member,
Steve Payne.
General Manager
Tom Garner
Year over year food sales were
up $37,000 and cost of goods sold for food was
down $28,000. This contributed to an overall
increase in gross profit of $119,000 and net income
was up $91,000.
We will be releasing a new winter menu this month
leaning a little towards the pasta side of things. We
will also be adding some old-time favorites including
the wedge salad, fish tacos, soup of the day. In
addition, we will be adding grilled lamb chops. We
will be changing up the menu quarterly and trying to
focus on local sustainable food items. We will make
every attempt to keep the menu fresh and exciting.
In addition to the improved financial health, the
club added 27 new members resulting in a 9%
increase for the year. The club had averaged 283
over the prior four years. This resulted in a 7%
increase in club sales. Regatta sales were also up
$12,000. The J22 regatta was a big event last year.
The majority of new members we signed up last year
are energetic, have a large number of friends they are
introducing to the Club, volunteering to help with all
sorts of things around the club and spending quite a
bit of time down here. We anticipate that the club
will continue to increase in membership this year
which will lead to increased revenue and fees that will
help us beat the budgeted numbers again this year.
We revamped the financial reporting to track other
revenue generated by regattas. There was $15,000
in regatta food and another $6,000 in regatta liquor
and we did not track all liquor sales related to the
sailing program. This clearly shows that the sailing
events have a large impact on our revenues.
If you have any suggestion that will help improve the
operation of the club, please let us know.
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