The Similkameen News Leader
Sports Page - November 6, 2007
GOLF CLUB CONTINUES TO SHOW PROGRESS
Financial information released at the Princeton Golf Club Annual General Meeting October 28th shows the facility is a successful local business. In a statement dated September 30, 2007 Revenues were up considerable from the same period a year ago to $831,411 with the largest increase coming from the restaurant generating $223,271 in revenues compared to $7,800 last year.
Expenses were also up from $371,549 to $663,002 with the biggest increase coming from the restaurant at $255,370.
There was also an increase in Capital Expenses up to $167,908 from $26,201 leaving the Golf Club with a bank balance as of September 30th of $105,903 not including a Term Deposit.
Breaking down those figures shows that the almost $9,000 increase in Membership revenue can be attributed to the 2007 membership reaching 342 (290 active, 48 juniors, 4 post secondary members) up from 329 in 2006, 318 in 2005 and 313 in 2004.
The increase of over $141,000 in Capital Expenses includes machinery and equipment (backhoe attachment worth $12,276; Refresher Cart valued at $9,040 and a Toro 4500D Groundsmaster costing $72,100); clubhouse furniture and equipment totaling $10,842; paving the parking lot at a cost of $48,886, rental equipment and pull carts worth $2,140 and office and computer equipment costing just over $7,200.
Rentals, green fees and the driving range increased revenues by $24,000, as did the RV Park, which saw an extra $6,500 from last year. Tournaments and donation revenue also increased by just over $4,000.
A further break down of figures shows that although Membership and power cart rental revenues were up, green fees dropped $13,683 from last year. Nine hole green fees were up considerable from last year, while 18-hole green fees had a huge drop.
However, locker rentals, driving range fees and four different packages combining green fees with a cart rental increased Clubhouse revenue by over $32,000 from last year.
Although RV Park revenues were up over $6,400, site rentals generated the most increased revenue with RV Packages suffering a drop of $1,837.14 from the previous season.
As for the restaurant revenue, we'll just state that draft beer is the most popular drink followed by bottled beer, liquor, wine and ciders/coolers. As for meals, there was a total of $121,431.31 in menu items served this past summer.
Course Expenses were up $16,548.72 as were Administration expenses to $153,130,13.
Despite all this the club ended the year with a net income of $500.89.
GOLF CLUB ELECTS NEW EXECUTIVE
A total of 64 Princeton Golf Club members attended the Annual General Meeting October 28th at Princeton Curling Club.
In addition to the members present, there were 12 proxies recorded for a total of 76 votes but not a single ballot was cast.
Larry Evans was returned to the President's chair for another one-year term.
He will be joined by Glenn Weissbach as Vice President. Tara Atkinson will replace the long serving Jim Jackson, as Treasurer and the Secretary position will remain vacant for the time being. Two year Directors are Keith Simpson, Wally Wallace and Richard White.
Directors with one year left to serve are Al Dubuc, Mike Monteith and Trevor Thompson.
GOLF CLUB PLANS TO ADD MANAGER
The Princeton Golf Club has grown to the size that it needs a Course Manager.
Club President Larry Evans made the announcement at the October 28th Annual General Meeting stating why the change in direction for 2008.
"The Golf Club is growing at a fast rate and the Board of Directors feel they should be concerned about the policies of the golf club but a manager would be concerned about the day to day operation."
When asked what the status of the Golf Pro was, Evans said the Golf Pro contract had not been renewed, but did say the Golf Pro and Course Manager could be a combined position.
