Treasurers Report

The Treasurers Report October 2017

FROM THE TREASURERS DESK

Whilst the overall financial results for the period ended Q3 2017 are pleasing and management are doing a good job in containing the Operating expenses, the unfortunate drought will drive up the costs of our effluent water supply in the coming summer months.

Our rounds of golf continue to increase and the forecast for the 2017 rounds is 49 659. We are close to achieving 50 000 rounds in 2017 and I encourage all members to play that extra round so we can achieve this number. Should we achieve 50 000 rounds of golf, this would place our Golf club in 3rd place in the Western Cape in terms of rounds of golf behind Westlake and Durbanville.

The Golf club has purchased an additional 10 golf carts in H2 2017 and we have undertaken a battery replacement program where all 35 golf carts will have new batteries. This was a large capital expense to the Golf club, but the income derived from the golf cart rentals is anticipated to be in excess of R 1.2 million per annum.

ANNUAL MEMBER SUBSCRIPTION INCREASE AND GREEN FEE INCREASE
It is that time of the calendar year when we consider the annual increases for the member’s annual subscription fees and the green fee increase for the following financial year. I advise that the subject to some minor rounding, the Management Committee have approved the following increases for 2018:
Category Increase for 2018
Membership annual subscriptions * 0 % increase across all categories of membership

Members green fees 6 % increase for all green fees, including all pre-paid categories

Visitors green fees 7 % increase across all categories

Miscellaneous increases like golf cart storage, club hire, golf cart rental 6 % increase across all categories

* Please note that the abovementioned increase excludes the WPGU affiliation increase and HNW fees.
In conclusion, I would like to express my gratitude to all members who continue to support the Golf club in these tough economic times when discretionary expenditure is in short supply.

Regards

Chris Wilson