Hurricane Ian

Please join me in congratulating and thanking our staff who have worked diligently before, during and after Hurricane Ian to prepare, protect and restore our club and community. Without these dedicated employees, we would not have fared so well and certainly would not be in the position we are currently in.

Curtis and his Golf Course Maintenance Team (which included members of our bag drop staff) have been working tirelessly to get the golf course reopened. The opening of the back-9 on Wednesday and the middle- 9 today was, quite simply, an excellent achievement. They continue to work on the front-9 with plans for a full reopening next week.

Ashley Hayden, Mike Farrer and the Golf Operations Team responded quickly last Friday to help clean the entire club area, including the club parking lot and common grounds.

Joe Lisi, joined by his girlfriend last Friday, and Ryan Hamning worked through the weekend to ensure the tennis courts would reopen on Monday!

Chef Bryce, Rico Alcala, Carolyn Bramel, Barb Honeywell and the entire F&B team planned and executed a Happy Hour 48 hours after Hurricane Ian left the area. Plans began while the Hurricane was ongoing, food was ordered Friday morning at 7:30AM for Saturday delivery and almost 200 members enjoyed an appetizer buffet, drinks and live entertainment. Most importantly, laughs and smiles were abound after a trying few days!

Special thanks to Dawne Waite who oversaw communications during this entire period, including “First Alert”
notifications before and after the storm and notices for when certain club matters were occurring.

Finally, kudos to Brian Niehaus, Fidel Villegas and the entire Community Association Team who remain focused on cleaning up our beautiful residential community. Clean-up continues and plans are being developed to clear the debris from the sidewalks without the timely commitment from Manatee County. We thank our residents in advance for your patience as this large undertaking continues.

Please take a moment to thank all of these dedicated individuals when you see them!

Human Resources

Earlier today, Executive Chef Bryce Baird was relieved of his duties. Chef Frantz will assume the Executive Chef role effective immediately.
Membership

The 2022 Summer Membership conversion offer went out earlier this week to all summer members. The offer applies their 2022 summer dues towards their initiation fee and also secures their initiation fee at the current rate vs. the increase rate which goes into effect on 1/1/2023.

Statements of Operations (as of August 31, 2022):

UNIVERSITY PARK COUNTRY CLUB & RD										
ELEVEN MONTHS ENDING AUGUST 31, 2022										
(in thousands)										
SUMMARY STATEMENT OF OPERATIONS		FY2022		FY2022		FY2022		FY2022		
Description		YTD Actual		YTD Budget		YTD Variance		Budget		
										
REVENUE:										
MEMBERSHIP DUES		$	4,034		$	3,592		$	442		$	3,910		
GOLF OPERATIONS		3,753		2,734		1,019		2,889	(a)	
TENNIS & FITNESS CENTRE		96		62		34		66		
RESTAURANT INCOME		2,046		1,805		241		1,911		
OTHER INCOME		8		5		3		5		
TOTAL REVENUE		$	9,937		$	8,198		$	1,739		$	8,782		
										
EXPENSES:										
GOLF OPERATIONS		$	1,405		$	1,207		$	198		$	1,303	(b)	
TENNIS & FITNESS CENTRE		374		312		62		337		
RESTAURANT		3,005		2,298		707		2,480	(c)	
GOLF COURSE MAINTENANCE		2,765		2,529		237		2,742	(d)	
GENERAL & ADMIN		1,679		1,580		99		1,728	(e)	
TOTAL DIRECT EXPENSES		$	9,229		$	7,926		$	1,303		$	8,591		
										
OPERATING INCOME/(LOSS)		$	708		$	272		$	436		$	191		
										
CAPITAL ALLOCATION:										
INITIATION FEES & OTHER		$	401		$	207		194		$	213		
OUTSIDE GOLF -CAPITAL ALLOCATION		266		202		65		200		
TOTAL CAPITAL ALLOCATION		$	667		$	409		$	258		$	413		

$1.02m increase over budget due to 8,919 more rounds than budgeted and increased public rates.
$198k over Budget primarily due to merchandise cost of goods and credit card fees, each of which has increased proportionately to increased revenue.
Increase in expenses primarily due to higher COGS due to inflation costs for various items including meat and seafood.
	$237k increase to budget primarily due to staffing issues requiring us to utilize outside temp agency labor more than usual and much higher supply costs (fuel, fertilizers, etc.).
$99k increase to budget primarily due to continued transition of Management Team, increased credit card fees and unbudgeted retirement party.

Preliminary FY22 VS Budget:

UNIVERSITY PARK COUNTRY CLUB & RD							
TWELVE MONTHS ENDING SEPTEMBER 30, 2022							
(in thousands)							
SUMMARY STATEMENT OF OPERATIONS		FY2022		FY2022		FY2022	
Description		Preliminary		Budget		Prelim VS Budg	
							
REVENUE:							
MEMBERSHIP DUES		$	4,391		$	3,910		$	481	
GOLF OPERATIONS		3,885		2,869		1,016	
TENNIS & FITNESS CENTRE		101		66		35	
RESTAURANT INCOME		2,150		1,911		240	
OTHER INCOME		8		5		3	
TOTAL REVENUE		$	10,536		$	8,762		$	1,774	
							
EXPENSES:							
GOLF OPERATIONS		$	1,501		$	1,303		$	198	
TENNIS & FITNESS CENTRE		406		337		69	
RESTAURANT		3,210		2,480		730	
GOLF COURSE MAINTENANCE		2,973		2,742		231	
GENERAL & ADMIN		1,858		1,728		129	
TOTAL DIRECT EXPENSES		$	9,948		$	8,591		$	1,357	
							
OPERATING INCOME/(LOSS)		$	588		$	171		$	417	
							
CAPITAL ALLOCATION:							
INITIATION FEES & OTHER		$	405		$	213		193	
OUTSIDE GOLF -CAPITAL ALLOCATION		272		220		52	
TOTAL CAPITAL ALLOCATION		$	677		$	433		$	244	

Revenue Flash Report (as of September, 2022):
	September		YTD		
(in thousands)	Actual	Budget	Variance		Actual	Budget	Variance		
									
MEMBERSHIP DUES	$	357	$	318	$	39		$	4,391	$	3,910	$	481	(a)	
GOLF OPERATIONS	132	135	(3)		3,885	2,869	1,016	(b)	
TENNIS & FITNESS CENTRE	5	4	0		101	66	35		
RESTAURANT OPERATIONS	105	106	(2)		2,150	1,911	240		
OTHER INCOME	0	0	(0)		8	5	3		
TOTAL OPERATING REVENUE:	$	599	$	564	$	35		$ 10,536	$	8,762	$	1,774		
									
CAPITAL ALLOCATION:									
INITIATION FEES & OTHER	$	5	$	6	$	(1)		$	405	$	213	$	193		
OUTSIDE GOLF -CAPITAL ALLOCATION	6	18	(13)		272	220	52		
TOTAL CAPITAL ALLOCATION	$	10	$	24	$	(14)		$	677	$	433	$	244		
									
TOTAL REVENUE:	$	610	$	588	$	22		$ 11,213	$	9,195	$	2,019		

Membership dues continue to exceed budget due to new membership structure and strong summer membership sales. New memberships (the basis for Initiation Fees) continue to exceed Budget.
$1.02M over Budget YTD due to pricing and substantially more rounds, as outlined below:
Rounds of Golf (as of September 30, 2022):

	September		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	2,246	2,055	191		49,079	43,125	5,954	
Outside Rounds	1,055	2,080	(1,025)		37,240	35,109	2,131	
	3,301	4,135	(834)		86,319	78,234	8,085