The table that follows details the number of golf memberships for the current fiscal year which began on July 1, 2016.
As you can see, they lost 5 members in August, another 13 members in September, and 6 members in October. November is the only month showing an increase in memberships, but is still 20 members short of the memberships in July despite the fact that November temperatures are much more favorable for playing golf
In reality. there are only 216 dues-paying members out of the 230 total members since members over age 90 pay no dues.
In addition, golf revenue from July through September 2015 was $135,723. Golf revenue for the same time period in 2016 is $109,380. This is $26,343 less revenue than the prior year. As of September 2016, the Community and Recreation Fund (the fund set aside to pay for all this) is $201,294 in the red. This fund includes the increased sales tax revenue. ly through September 2016 total golf revenue was $109,380. This is $26,343, about 19% less than the revenues of $135,723 for the same time frame in 2015.
The food and beverage numbers are somewhat better. Through September 2015, the losses were $88,178, while through September 2016 the losses are $48,902. The bottom line remains that the food and beverage portion (primarily the Overlook Restaurant) is still losing a lot of money…your money.
Golf Losses Update
In the first three months of the fiscal year (July 1 through September 30) the golf losses are still quite high at $760,069. They are predicting year end losses of $1,538,678. In order for that to happen, golf can lose only $778,609 in the remaining 9 months of the fiscal year. It seems improbable that golf will lose $778,000 in the next nine months when it lost $760,000 in just the first three months. Remember that last year we ended over $2.4 million in the red.
The financials for October and November 2016 are supposed to be on the January 17th Council agenda. I will provide an update as soon as those figures become available.