Sept / Oct 2008 - Broken Sound Club
Sept / Oct 2008 - Broken Sound Club
Sept / Oct 2008 - Broken Sound Club
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From The Finance Committee<br />
Management has been working on the budget since April and each July the Board of<br />
Governors meets to adopt the budget for the fiscal year beginning in <strong>Oct</strong>ober.<br />
The budget adopted amounted to<br />
$14,667,000 which represents the<br />
excess of the projected expenses to be<br />
incurred over the revenues to be received.<br />
This represents a 3.5% increase<br />
in the total budget versus last year’s budget.<br />
As previously notified this produced<br />
a dues increase of $296 per Family<br />
membership and $261 for a Single<br />
membership. In addition the Service<br />
Charge which primarily helps to support<br />
Food and Beverage services has been<br />
increased by $10 per month or $110<br />
per family per month and $80 per individual<br />
per month.<br />
As you know by your own personal<br />
experiences prices for all products<br />
purchased have escalated dramatically<br />
this year. The <strong>Club</strong> purchases many<br />
products that also had substantial price<br />
increases such as food, energy, plastics,<br />
fuel, fertilizer and pesticides. In order to<br />
minimize the impact of these price<br />
increases Management carefully examined<br />
all its operations to reduce the impact<br />
of these price increases and to<br />
bring this budget in at a very reasonable<br />
increase while continuing to provide all<br />
the services and amenities that you are<br />
used to receiving. The complete budget<br />
is available for your review in the Finance<br />
Department.<br />
At June 30 our finances are close to<br />
budget. Barring any extraordinary events<br />
we should end the year at <strong>Sept</strong>ember<br />
30, <strong>2008</strong> at or slightly ahead of budget.<br />
We hope you have enjoyed your summer<br />
and we will keep you informed of our<br />
financial progress on the Finance<br />
Committee web site.<br />
If you have any questions please write<br />
to us at the <strong>Club</strong> or you can e mail us at<br />
Bocashell1@aol.com.<br />
Shelly Siegel and Nat Adler, Co Chairs.<br />
DISCOVER Why River Cruising Is<br />
The Best Way To Travel<br />
Statement of Activities<br />
(excluding depreciation)<br />
Nine Months Ended June 30, <strong>2008</strong><br />
(in thousands) / (unaudited)<br />
REVENUES AND EXPENSES<br />
FROM OPERATIONS<br />
Dues & Fees $11,935<br />
Other Income 190<br />
Food & Beverage (2,213)<br />
Golf (2,838)<br />
Tennis (371)<br />
Spa (444)<br />
International Housing (255)<br />
Aquatics (127)<br />
Entertainment (1,484)<br />
Landscaping (171)<br />
Administration and General (1,452)<br />
Human Resources (311)<br />
Facility Maintenance (391)<br />
Housekeeping (493)<br />
Energy (601)<br />
Fixed Charges (1,080)<br />
EXCESS OF EXPENSES OVER<br />
REVENUES FROM OPERATIONS (106)<br />
Passau to Budapest Sailing May 31, 2009<br />
OTHER<br />
Other Interest Income 75<br />
Color Your World<br />
Member Member<br />
Saturday, November 15<br />
Dinner Dance<br />
Mel Ball<br />
and<br />
Colours<br />
Orchestra<br />
TOTAL OTHER 75<br />
NET EXCESS OF<br />
EXPENSES OVER REVENUES<br />
$ (31)<br />
RSVP 241-6877<br />
<strong>Sept</strong>/<strong>Oct</strong> <strong>2008</strong> www.brokensoundclub.org Page. 5
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