SUMMARY OF OCTOBER 2024
The club’s financial performance in September saw revenue and profit below budget expectations.
FINANCIAL SUMMARY • Monthly Revenue: $897,203, falling short by $276,460 • YTD Revenue: $897,203, under budget by $276,460 behind last year by $67,903. Keep in mind, this is the first month of the new fiscal year. • Operating Profit: Monthly loss of $97,612, missing the budget by $101,395.
DEPARTMENTAL PERFORMANCE • Food & Beverage: Revenue was $139,639, trailing the budget by $191,709. Revenue was unfavorable to budget due to the Wheelhouse not opening as planned. Employee Uniforms were favorable to budget by $4,805 as the monies were not utilized yet, but will be in future months as needed. Events and Tournaments was favorable to budget by $2,250 due to the timing of invoices. Contract Services was favorable to budget by $3,418 due to the timing of services. Supplies was favorable to budget by $2,230 as the Wheelhouse did not open as planned • Golf: Revenue was $29,847, fell short of budget by $16,184. Overall, the Golf Department had a pretty good month considering being impacted for two weeks by Hurricanes Helene and Milton. Cost of Sale is a bit higher than budget due to the need of product being moved from the previous season to make room for new product. • Tennis: Revenue was $28,379, fell short of budget by $13,116. Our Ladies Les Petites Doubles Tournament was very successful. Total Revenue was unfavorable to budget due to Hurricane Milton. We lost a lot of income for private and group lessons as well as team clinics. We managed to complete Week 1 of Tennis Boot Camp, but were not able to host Week 2 due to the hurricane. Merchandise Income was unfavorable to budget due to Hurricane Milton. Vendor production paused in some parts of the state and sales were lower than expected due to the tennis shop’s closure. • Marina: Revenue was $188,862, fell short of budget by $79,725. Fuel sales were heavily impacted by Hurricanes Helene and Milton. • Administration & General: Over budget by $27,537 due to contract labor. • Community Patrol: Better to budget by $392. • Golf Course & Property Maintenance: Both departments faced monthly overages. Fertilizer is unfavorable over budget $3,975 this month due to fertilization needs preparing for the upcoming season and Misc. Expense was unfavorable to budget due to hurricane damage repairs and clean up.
BALANCE SHEET • Infrastructure Reserve: $334,933. • Reserves Future Long Range: $242,271 • Operating Cash Balance: $843,550
