02/19/2013 Meeting Minutes - Laserfiche WebLink

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• rr~ va ~e Golf Course 8 Ballroom Last year was the first year we came to you and increased our budget. We were able to comfortably increase our budget by $113,000. Original Budget Revised Budget Actual Ballroom Revenue $465,000 $538,000 $586,905 Golf Course Revenue $848.000 88 0 9 387 Total $1,313,000 $1,426,000 $1,476,292 This increase of $113,000 allowed us to fund several projects in-house. • We added a new Draught System in the Clubhouse, which allowed us to offer a greater selection of beers to our goffers 8~ guests. • We purchased a new dishwasher for the Ballroom. • Installed a new sidewalk at the Ballroom entrance with the help of the Service Department. • Replaced the doors at the Ballroom bandstand entrance. • Poured a concrete floor in the cold storage building for Course Maintenance with the help of the Service Department. • Built a new rain shelter on the Goff Course. • Refurbished the tee signs with the help of the Service Department. In addition to funding these projects, the increase in revenue has allowed us to leave an unencumbered balance of approximately $50,000 that is being set aside for a new bridge for the 11tH Hole. The project is expected to cyst between $50,000 and $80,000 and will be completed with the help of the Service Department, Engineering 8~ Kim Wenger. We hope to add to the unencumbered balance at the end of 2013 to fully fund this project in-house. Golf Sales 2008 2009 2010 2011 2012 ZOf3 Total Sales $906,883 $839,030 $848,448 $619,434 $889,387 $890,000 Total # Rounds Golf 23358 19944 23080 15723 22625 Average Revenue Per Round 538.83 542.07 636.76 539.40 $39.31 The full effect of the 2011 golf course renovation, especially the bunker renovation, was not fully felt in 2012. This was due to two major factors. Our leagues were already booked for 2012 before the renovations were completed. Also, our golf outings were already booked for 2012 prior to the completion of the renovations. As word spreads of the renovations, we are filling in empty spots with more leagues (approximately 30 more golfers each week for 25 weeks for 2013). We also have booked 4 new golf outings. The addition of drainage in the greens has allowed us to stay open on rainy days when we otherwise would have been carnpieteiy cbsed. We were able to stay open an estimated 25 days for an additional $75,000 in revenue, we otherwise may not have seen. Springvate Golf Course and Ballroom A 5871 Cantefiury Road I North Olmsted, Ohio 44070 P440-777-0878 E youngm~norch-olmsted.com