Financial Report

Financial Summary

• Monthly Revenue: $1,171,000, falling short by $79,240.

• YTD Revenue: $3,224,178, under budget by $424,927 but better than last year by $71,003.

• Operating Profit: Monthly loss of $322,153.

Departmental Performance

• Food & Beverage: Revenue was $246,601, trailing the budget by $94,251. Revenue was unfavorable to budget due to the Wheelhouse did not open as planned. Events and Tournaments were favorable to budget by $6,900 as the monies were not utilized this month but may be used in future months as needed. Contract Services were favorable to budget by $1,265 due to the timing of services. Supplies were unfavorable to budget by ($19,096) due to restocking the Wheelhouse for the opening.

• Golf: Revenue was $49,478, fell short of budget by ($7,017) but beat last year by $6,324.

•Tennis: Revenue was $26,016, fell short of budget by ($3,339). Merchandise Income was favorable to budget with 25.6%. However, our Cost of Goods Sold was unfavorable to budget due to new merchandise being purchased for the membership. We ordered brand new logo- apparel as well as new 2025 Tennis racquets. Tennis lessons were unfavorable to budget. We hired a new Assistant Professional (part- time) for a few months to help. Due to the Director of Racquet Sports being unable to teach lessons at this time, our lesson revenue is unfavorable to budget.

• Marina: Revenue was $347,538, exceeded budget by $29,348 and surpassed last year by $11,096.

• Administration & General: Over budget by $19,567 due to contract labor.

• Community Patrol: Over budget by $7,574. Salary and Wages were over to cover vacation and holidays.

• Golf Course & Property Maintenance: GCM expenses exceeded budget by $7,891 and Property Maintenance was over by $49,444 largely due to hurricane expenses and unbudgeted Wheelhouse repairs.

Balance Sheet

• Infrastructure Reserve: $337,128

• Reserves Future Long Range: $243,858

• Operating Cash Balance: $745,943