Lockwood Folly Country Club. Quarterly Meeting July 23 4 PM- POA Clubhouse

Transcription

1 Lockwood Folly Country Club Quarterly Meeting July 23 4 PM- POA Clubhouse

2 Agenda President Vice President Golf Marketing House Grounds & Greens Membership Treasurer Questions & Comments

3 President Remarks Lockwood Folly Superintendent Jonathan JD Franck

4 Golf Since last quarterly meeting: 4/25/15- Shriners/Miracle Network/Dale Clemmons Tournament- 133 players. 5/16/15- CGA One Day Tournament- 73 players 5/16/15- Southport-Oak Island Kiwanis Tournament- 128 players Ladies & Men s Club Championships 6/5/15- Ladies Member Guest- 52 players LGA/MGA Memorial Day Mixer- 72 players MGA Blue Ball and Red, White and Blue Tournament

5 Upcoming Scheduled Tournaments 8/6/15- LGA Scramble 8/25/15- LGA Ladybirds 9/8/15- LGA/MGA Labor Day Mixer 9/13/15- ATMC Tournament players expected 9/15-17/2015- LGA Member Member /15- MGA Ryder Cup 9/26/15- South Fork Invitational players expected 10/10/15- VFW Golf Tournament players expected 10/12/15- Brunswick Family Assistance players expected 10/13-15/15- MGA Member Member 10/14/15- Brunswick County Seniors 10/29/15- LGA Play for Pink (Ladies) Men s date TBD 11/14-15/15- Brunswick County Tournament of Champions

6 Golf Cart Damage: Friday, July 19, Terrible electric storm around midnight Lightning strike hits cart barn Resulting in damage to 21 golf carts and 7 battery chargers Repairs made by Graham E-Z Go Working with our insurance company to file claim for repairs made due to high costs of repairs Driving Range: Phase 1 Construction- Repair/Replace septic field which required driving range to be closed Should re-open around August 1 st Working on re-opening celebration with: Bridgestone Ball Fitting Day Cobra Demo Day Free golf clinic Various skills challenges

7 Construction Parking: Very close to moving into temporary facility With this move, parking will be limited We should have ample parking for everyday business However, members with personal golf carts are asked to use them when coming over to the club This will help as it will free up more parking options

8 Marketing Report Restocking of coupons at distribution points is ongoing. Comment cards are being placed on carts and working with Eric to track responses and follow up with clients as deemed appropriate. GolfForum Magazine Directory Map in place at Wilmington airport. Radio advertising rate schedules received from Cumulus and ads will be airing on several of their stations in the near future. Dan and Melissa McGougan repaired damages to signage at Mt. Pisgah/Stanley Rd. that occurred during Tropical Storm Ana.

9 Best of Brunswick Banner for 2015 displayed in Pro Shop and additional banner highlighting award for 2012, 2013, 2015 on display outside Pro Shop. Reordered refrigerator magnets to be placed in all rental units on Holden Beach Lockwood Folly is now listed as an outdoor activity on TripAdvisor for Holden Beach. Plans are being finalized for Groundbreaking Ceremony for new Clubhouse and date will be set as soon as building permit is in the hands of the contractor.

10 Paul Boileau joined me for a meeting with representatives from Century 21 Sweyer for information sharing and planning and a subsequent Open House for agents was held on July 8 during which 32 houses were open for visits. We have joined with Grand Strand Coastal Golf Marketing Group who is promoting our course for us. Working to get foliage cut back from signage at Sabbath Home/Stone Chimney

11 House Report Temporary housing unit has been built and will be sent pending permit approval from Brunswick County. We need to satisfy a water inundation specification in case of a flood to get the necessary foundation permit. Graka will hook up the temporary unit for electrical, water, and plumbing modifications after the septic is approved. We are negotiating with Graka to move equipment from the Pro Shop, the Grill, and the Business office to accommodate the transition from the old building to the temporary unit.

12 Graka will install a required hot water heater to meet code for the Grill. Graka also will install a required outside wash area for mop cleaning as per code. Graka will build a new bag drop on the side of the cart barn facing the tennis courts. We hope to have the temporary units on site by the end of the month.

13 Grounds & Greens Report Tree trimming completed along cart path. Greens will be aerated August 11th & 12th.

14 New Members: Membership Carl and Judith Antisell-Lockwood Folly Nick and Carla Payne- Holden Beach Jim and Kathy Noel- Lockwood Folly Possibilities: David and Michelle Courie-(golf and tennis) Talking to POA about a package-holden Beach Mark and Fran Pompeii-Holden Beach Resigned Members: Chuck and Kay Gregory (LF)-Moved to Texas

15 Rental Home Owner (RHO) Golf package: A new golf package created to steer renters at Holden Beach to Lockwood Folly: The Membership Committee is working with list of rental homeowners from VRBO. We will offer this package to rental homeowners to join Lockwood Folly and be able to advertise a golf package to their renters. LF is discounting the golf for these renters to $45 vs the $79 to steer them in as opposed to going to Myrtle Beach. The beauty of our package is offering the golfers a great rate and our location will allow them to spend time with their families at the beach and still play 18 holes of golf. Hopefully the golfers will realize they can play more than one round at Lockwood Folly instead of going south for the rates we re charging and still spend time with their families. These renters will be allowed to play by using a Guest Pass given to the renter and a copy to the Membership Director and Golf Pro from the rental home owner. Update will follow next quarter to see how it is working!

16 Treasurer s Report

17 LFCCI Members Meeting = 2nd Quarter, 2015 FINANCIAL RESULTS Jan-June 2015 B / (W) BUDGET Jan-June 2015 B / (W) Actual Budget Budget OPERATIONS REVENUE $ 554,371 $ 596,096 $ (51,725) EXPENSE $ 443,566 $ 499,014 $ 55,448 TOTAL INCOME $ 100,805 $ 97,082 $ 3,723

18 LFCCI Members Meeting = 2nd Quarter, 2015 FINANCIAL RESULTS REVENUE = B / (W) than BUDGET Jan-June 2014 Jan-June 2015 B / (W) Actual Budget Budget Outside, w/comm $ 201,495 $ 264,200 $ (62,705) Member $ 306,512 $ 294,946 $ 11,566 Other $ 36,364 $ 36,950 $ (586) Total $ 544,371 $ 596,096 $ (51,725)

19 LFCCI Members Meeting = 2nd Quarter, 2015 FINANCIAL RESULTS EXPENSES = B / (W) THAN BUDGET Jan-June 2015 Jan-June 2015 B / (W) Actual Budget Budget Administration $ 66,288 $ 72,111 $ 5,823 Grounds $ 249,641 $ 266,917 $17,276 Pro Shop $ 102,802 $ 123,281 $20,479 Marketing $ 5,494 $ 4,672 $ (822) House $ 10,630 $ 23,033* $ 12,403* Storm Damage Membership $ 75 - $ (75) Interest $ 8,636 $ 9,000 $ 364 Total $ 443,566 $499,014 $ 55,488 * Includes 4 months budget ($12,000) for temporary pro shop rent

20 LFCCI Members Meeting = 2nd Quarter, 2015 FINANCIAL RESULTS B / (W) than 2014 Jan-June 2015 Jan-June B/(W) 2014 Revenue $ 544,371 $ 566,010 $ (21,639) Expense $ 443,566 $ 475,742 $ 32,176 Operating P & L $100,805 $ 90,268 $ 10,537

21 LFCCI Members Meeting = 2nd Quarter, 2015 FINANCIAL RESULTS REVENUE = B / (W) than 2014 Jan June 2015 Jan June B/(W) 2014 REVENUE Outside, w/comm $ 201,495 $ 225,272 $ (23,777) Member $ 306,512 $ 296,852 $ 9,660 Other Income $ 36,364 $ 43,886 $ (7,522) Total Income $ 544,371 $ 566,010 $ (21,639)

22 LFCCI Members Meeting = 2nd Quarter, 2015 FINANCIAL RESULTS EXPENSES = B / (W) than 2014 Jan-June 2015 Jan-June B/(W) 2014 EXPENSES Administration $ 66,288 $ 67,719 $ 1,431 Grounds $ 249,641 $ 261,655 $12,014 Pro Shop $ 102,802 $ 114,953 $12,151 Marketing $ 5,494 $ 10,137 $ 4,643 House $ 10,630 $ 11,618 $ 988 Storm Damage Membership 75 $ 185 $ 110 Interest $ 8,636 $ 9,475 $ 839 Total Expense $443,566 $ 475,742 $ 32,176

23 mo 2015 OUTSIDE PLAY $656,704 $644,229 $544,327 $569,181 $570,829 $534,682 $480,662 $195,743 Outside Rounds 16,072 16,929 14,102 16,896 18,436 16,769 14,240 5,822 Revenue per Round $40.86 $38.05 $38.60 $33.69 $30.96 $31.89 $33.75 $33.62 OUTSIDE PLAY $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $ mo 2015 Revenue per Round for Outside Play $45.00 $40.00 $35.00 $30.00 $25.00 $20.00 $15.00 $10.00 $5.00 $ mo 2015

24 LFCCI Members Meeting = 2nd Quarter, 2015 BALANCE SHEET 6/15 12/14 6/14 Total Assets $1,516,381 $1,438,391 $1,577,178 Total Liabilities $ 407,164 $ 429,979 $ 470,658 Total Equity $1,109,217 $1,008,412 $1,106,520

25 MEMBERSHIP 31-Dec 31-Dec 31-Dec 31-Dec 30-June Membership Family Sr. Family Individual Senior Ind Round n/a Round Round n/a Limited Total

26 LFCCI Members Meeting = 2nd Quarter, 2015 HIGHLIGHTS Bank Balance as of $250,000 Loan Balance $361,798 Green Replacement Costs Earmarked at $(210,000)

27 Questions & Comments

28 Vice President Remarks