The Portarlington Golf Club has achieved a positive financial half year result. The results are outstanding considering the restrictions Covid 19 has imposed upon the Golf Club and our greater community.

Within the 1st quarter report the Finance Committee outlined to members 3 key initiatives adopted to address the ongoing Covid Restrictions and the loss of revenue due to these restrictions.

  1. Identify immediate actionable savings within Administration and Clubhouse costs: This has been achieved with current expenses in both Administration and Clubhouse reduced by $216,684 to budget for the period 1st July to 31st December 2020. This included the postponement of the ProAm and reduction in social activities including members draw and golf members Christmas events.
  2. Control of wage costs: For the period of 1st July to 31st December 2020 total wages are currently running under budget by $150,141. These cost savings do not include any Job Keeper support from the Federal Government. Focus has been on efficiencies within operations while not compromising on the service to members.
  3. Initiative to drive revenue: The Club continued to operate under significant restrictions for October and November 2020. The hospitality industry did see some relaxation of restrictions from mid-November into December with Gaming operating at 62.5% (40 of 65 machines) and the Clubhouse restricted to 1 person per 2 square metres. These restrictions are still in place and will continue for some time. Positive outcomes have still been achieved under these restrictions through the introduction of a new bistro menu, a support local campaign and overall expansion on the product and service we offer.

The Finance Committee undertook a reforecast taking into consideration actuals for the 1st quarter and the expected ongoing restrictions to business. The following is a summary of actual performance to reforecast for the period 1st July to 31st December 2020.

 

Actual YTD

Forecast YTD

Golf Operation

$600,106

$558,776

Course Operation

-$349,249

-$360,457

Bar Trading

$45,076

-$11,763

Administration

$78,084

$48,703

Gaming & Wagering

-$124,113

-$311,901

Bistro

-$174,970

-$224,046

Clubhouse

-$2,848

-$4052

Total Income

$2,598,489

$2,069,690

Total Expenses

-$2,526,403

-$2,374,430

Net Profit 31/12/20

$72,086

-$304,740

 

Our current cash holdings as at 31st December 2020 - $1,209,170

We have continued to provide our Members with the Golf Course they expect and have enjoyed for many years. Traffic on course is at an all-time high and we must thank Steve and his staff for their ongoing work.

Current number of playing members is 637.

Green Fee players are up $25,295 to forecast variance.

Competition Fees are up $11,831 to forecast variance.

 

Peter Solohub
Honorary Treasurer