Vice President’s Report
The Vice President of the Northern Texas PGA is responsible for the financial affairs of the Section, including providing
an annual financial report that is submitted to the Membership and reviewing all financial reports issued by the Section. In
addition, the Vice President shall preside at meetings in the absence of the President.
The management strength of the Section’s finances is readily evident in the following facts: For the 17th consecutive year,
the Northern Texas PGA has grown its financial position, increased support to all Section and Foundation programs and
produced a positive net income at the end of the year.
The Section and Foundation achieved another balanced budget by adding revenue-producing programs, while reducing
expense exposure in several key categories to adjust to the volatility of the golf marketplace. Total operating revenue
surpassed $3.82 million, a record for the Section. In addition, the Board of Directors is pleased to report that the total
assets of the NTPGA have surpassed $1.60 million. The Section’s reserve fund of $419,000 and the Foundation’s Deloitte
Endowment fund of $950,000 are conservatively managed and housed in cash, CD’s and equities, specifically in working
capital manag