TREASURER’S UPDATE – DARRON MINK

Over the last 2 months, we commissioned a very thorough budget review where we have looked at every line item that affects the Club. We have reviewed suppliers and investigated alternative means of reducing costs whilst also looking to expand our revenue base. Now that it appears COVID disruptions have eased we are still being greatly affected by the wet weather, which is forecast to continue through summer. It is critically important that the club has a budget that is positive, and for the current financial year, we have budgeted for a profit between $50,000 and $100,000. However, this will be very weather dependent due to the large percentage of our income that comes from the golf course.

The other important aspect is that the money raised from the sale of the units is used for capital projects only and not used to prop up the trading of the club. That would put the club on a downward trajectory and give a false impression of our actual trading capability. When the first stage of the units settled, the club lost the asset of the land that we can never get back so that is why it is important that we use those proceeds to enhance the club and member facilities. You will see examples of that with the new bistro and café opening this week which will also hopefully increase trade within the clubhouse. Very soon we will start the new Hudson Street access plus construction of the new amenities block for the bowling greens and other projects designed to improve the club and its trading ability. 

The board debated for quite a while on how much to increase fees and the decision was not taken lightly. We understand that all our members are facing increases in all aspects of living at present, but our responsibility is to ensure the Club remains profitable.

Increases to Subscriptions and other annual fees will be effective from 1 October 2022 as follows:

• Membership Fees will increase by 12.5% across the board
• Concessional Fees will be reduced from the current discount of 30% to 20%    
• Private Cart storage will increase to $600 per year for electric carts and $500 per year for petrol carts
• Private one-person scooters/bikes, etc will increase to $150 per year and carts to $300 per year. This will be further reviewed during the next year
• Joining fee to increase to $500    

As of Monday, August 15 2022, the following fees and charges will come into effect:

• Comp fees will increase from $22 to $25 per game but also a review of prizemoney, ball comp, and trophies will be conducted
• Monthly bowls rollups to increase to $600 per month for both the ladies and men’s committees
• Cart hire to increase for members from $36 to $40 for 18 holes and $22 to $25 for 9 holes
• Cart hire for social play (Non-members) from $45 to $50 for 18 holes and $25 to $30 for 9 holes
• Social golf fee (Non-members) to go to $60 per game
• Introduce a social special of $150 for two people which includes 2 games, cart hire, and 2 drinks from the bar

We understand this may cause a degree of financial stress to some members but we must ensure that our Club survives in the future. If you are having difficulty with fees, please speak to our Administration Staff as there are avenues to pay your fees monthly. (www.payasyougolf.com.au)