Summary of January 2025 Financial Report
The club’s financial performance in January saw an increase in total revenue over last year, but it was fell slightly below budget expectations.
Financial Summary
Monthly Revenue: $1,198,808, falling short by $95,190.
- YTD Revenue: $4,442,776, under budget by $520,326 but better than last year by $235,479.
- Operating Profit: Monthly loss of $323,540.
Departmental Performance
• Food & Beverage: Revenue was $311,014, trailing the budget by $62,283. Revenue was unfavorable to budget due to the Wheelhouse not being open for business the whole month. Also, additional unbudgeted repairs were needed.
- Golf: Revenue was $69,559, fell short of budget by ($4,248) but beat last year by $15,511. Inventory issues will be corrected in the February statement.
- Tennis (Racquet Department): Revenue was $35,234, fell short of budget by ($2,921). Merchandise income – was favorable to budget. New product line with Landings logo is selling well. Event revenue was favorable to budget. Our Xglosive Pickleball event was well received by the membership.
- Marina: Revenue was $285,060, fell short of budget by $30,080 but surpassed last year by $38,778. Fuel sales dropped off due to bad weather. Sub-contractor work remained busy due to large repair. In House labor dropped off due to bad weather.
- Administration & General: Better to budget by $22,095; duplicate entry in contract labor was reversed, and employee benefits had several credits due to terminated employees.
- Community Patrol: Exceeded budget by $2,045. Salary and Wages were over to cover Vacations & Holiday.
- Golf Course & Property Maintenance: GCM expenses exceeded budget by $2,354 due to weather conditions, pest and disease pressures. Property Maintenance was over by $17,229 largely due to additional hurricane expenses.
Balance Sheet
- Infrastructure Reserve: $338,188
- Reserves Future Long Range: $244,624
- Operating Cash Balance: $572,471
