Advisory Groups
I am finalizing the selection process for the four (4) Advisory Groups (Golf, Racquets, Fitness and Social/Dining). Participants will be contacted by the end of this month with initial meetings to be scheduled in August. I work with each department head to select volunteers that represent a wide range of member demographics.
An initial priority for each Group will be reviewing a draft Member Survey and providing input for each of the four amenities. We would like to survey our members in advance of the upcoming season so we can make necessary adjustments pending member feedback.
Golf Operations
The Golf Course will be closed on Monday, August 11th as we continue with summer cultural practices. Curtis to give a verbal update on the back-9 golf course project, which is moving along swiftly.
Member Events
Although it’s summer, we continue to host a number of Member Events. Over the next few weeks, we will host a West Coast Wine Dinner Showdown (7/23), Bingo (7/24), Prime Rib Night (7/25), a Hurricane Preparedness Wine Tasting (7/29) and Trivia (7/31).
Racquets
Lee and the Team continue to host a few events per month including a new “Pickle & Pints” Pickleball happy hour. Despite being in the summer months, attendance has been strong across the board.
We will soon be announcing the hire of a new part-time Pickleball Pro. Dallas Burko will also continue in his part-time role.
Fitness
Suzanne and her Team are actively working on the upcoming season calendar, including the introduction of new wellness programs, including Physical Therapy. We will be making a concerted effort (in Communications and Offerings) to move from a Fitness Program to a Wellness Program. Suzanna has assembled the largest and most effective Fitness Team of Instructors we’ve ever had.

Membership

Full	
Racquets	
Social	Net Change in
Memberships	Trial Full	Trial Rac/Fit	Trial Fit/Soc	Trial Social	Sum Golf	Sum Tennis	Wait List	
2024 Totals 12/31/24		445	108	786	1339	2	0	0	2	0	0	9	
January		
-1	
1	
0	0	
3							
February		
-4	
1	
3	0								
March		
1	
2	
-6	-3	
-2		
2	
-2			
-2	
April		
2	
1	
4	7	
-3				
41	
14	
-6	
May		
5	
-1	
-1	3			
-2		
29	
33		
NEW	June	
6/5	
1	
1	
-1	1					
5	
2		
July	
7/17			
1	1					
1	
2		
Total Members		449	113	786	1348	0	0	0	0	75	49	1	
Social Access		98	30		128								
Fitness		21	1	131	153								
Range			10	59	69								
Tw ilight Tennis				23	23								
Pickleball		2		55	57								
Total Passes		430								
*135 grandfathered non-members (flat to prior month), 199 grandfathered members (flat to prior month)
**304 non-resident memberships (+2 to prior month)
***Official Waitlist, after requiring the deposit, stands at 1.

Statements of Operations (as of June 30, 2025):

UNIVERSITY PARK COUNTRY CLUB & RD								
NINE MONTHS ENDING JUNE 30, 2025								
(in thousands)								
								
SUMMARY STATEMENT OF OPERATIONS		FY2025		
Description		YTD Actual		YTD Budget		YTD Variance		
								
REVENUE:								
MEMBERSHIP DUES		$	4,517		$	4,520		$	(3)		
GOLF OPERATIONS		2,919		3,416		(497)	(a)	
RACQUETS & FITNESS CENTRE		153		119		34		
DINING OPERATIONS		2,588		2,755		(167)	(b)	
OTHER INCOME		12		5		7		
TOTAL REVENUE		$ 10,188		$	10,815		$	(627)		
								
EXPENSES:								
GOLF OPERATIONS		$	1,321		$	1,434		$	(113)	(c)	
RACQUETS & FITNESS CENTRE		454		472		(18)		
DINING OPERATIONS		3,391		3,731		(341)	(d)	
GOLF COURSE MAINTENANCE		2,570		2,516		54		
GENERAL & ADMIN		1,778		1,863		(85)	(e)	
TOTAL DIRECT EXPENSES		$	9,514		$	10,017		$	(503)		
									
OPERATING INCOME/(LOSS)		$	675		$	798		$	(124)		
								
CAPITAL ALLOCATION:								
INITIATION FEES & OTHER		$	603		$	747		(144)	(f)	
OUTSIDE GOLF -CAPITAL ALLOCATION		203		241		(39)		
CAPITAL DUES		283		283		(0)		
TOTAL CAPITAL ALLOCATION		$	1,089		$	1,271		$	(183)		
								
FEMA PROCEEDS (OBLIGATED)		$	348					(g)	
INSURANCE PROCEEDS COLLECTED		65						
INSURANCE PROCEEDS COLLECTED (REC'D IN JULY)		21						
MILTON EXPENSE (NOT INCLUDED ABOVE)		(307)						
NET MILTON IMPACT		$	126						
Golf Operations are $497k unfavorable to budget primarily due to Hurricane Milton ($150k), less than favorable weather conditions during season, and lower Pro Shop sales/foot traffic ($50k).
Dining Operations are $167k unfavorable budget primarily due to Hurricane Milton ($71k) and reduced foot traffic from golf operations.

No LPGA Pro hired, Pro Shop COGS, Credit Card Fees
COGS Control, less Temp Labor, less Spoilage, limited linens
Delayed Accountant hire, Maintenance labor, Credit Card Fees
Non-resident, Full Member Waitlist + fewer home sale turnover
Hurricane Milton related expenses excluded from Operating P&L. Currently working with Insurance and FEMA to seek reimbursement.

Rounds of Golf (as of June 30, 2025):

	June		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	2,527	3,559	(1,032)		34,804	40,139	(5,335)	
Outside Rounds	1,927	2,761	(834)		21,742	26,168	(4,426)	
	4,454	6,320	(1,866)		56,546	66,307	(9,761)	

Rounds of Golf (as of June 30, 2024):

	June		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	2,576	2,958	(382)		38,173	39,375	(1,202)	
Outside Rounds	1,384	1,491	(107)		25,061	27,314	(2,253)	
	3,960	4,448	(488)		63,234	66,690	(3,456)	

Statement of Cash Flows (as of June 30, 2025):

	JUNE		
(In Thousands)	MTD		YTD		
Cash Flows From Operating Activities:					
					
Cash Receipts From Members & Guests	$	634		$	11,789		
Cash Payments To Vendors & Suppliers	(364)		(4,716)		
Cash Payments To PBM Staff Serving UPCC & UPRD	(493)		(5,207)		
					
Net Cash Provided (Used) By Operating Activities	$	(222)		$	1,866	(a)	
					
Cash Flows From Capital, Financing, And Other Non-Operating Activities:					
Initiation Fees	$	36		$	578		
Capital Dues	9		360		
Purchase Of Equipment & Capital Projects	(297)		(2,277)	(b)	
Loss on Equipment Dispoals	-		-		
Transfer to General Fund	-		(176)		
Transfer From BAN	-		2,350		
Insurance Proceeds	-		65		
Hurricane Milton	-		(307)		
Interest From Investments	1		28		
Net Cash Provided (Used) By Capital And Other Non-Operating Activities	$	(251)		$	620		
					
Net Increase (Decrease) In Cash	$	(473)		$	2,486		
					
Cash At Beginning Of Period	$	4,118		$	1,160		
Cash At End Of Period	$	3,646		$	3,646		
Net operating cash flow is negative for June, which is consistent with the trend observed in previous summer months, year-to-date will continue to be positive due to the receipt of annual dues at the beginning of the fiscal year.
$2m of outflows for capital projects, covering final payments related to the Irrigation Project, Pro Shop Renovation, and Short Game/Practice Area Renovations.

	JUNE	
Cash Account Balances	2024		2025	
				
Capital Account Balance	$	4		$	871	
Operating Account Balance	2,262		838	
Investment Account	-		1,932	
Other (Petty Cash)	6		6	
Cash At End Of Period	$	2,272		$	3,646	

Statement of Cash Flows – Forecast:

	Fiscal year Ending		
	September 30		
(In Thousands)	2024		2025		
Cash Flows From Operating Activities:					
					
Cash Receipts From Members & Guests	$	12,914		$	13,243		
Cash Payments To Vendors & Suppliers	(5,775)		(5,856)		
Cash Payments To PBM Staff Serving UPCC & UPRD	(6,643)		(7,209)		
					
Net Cash Provided (Used) By Operating Activities	$	495		$	178		
					
Cash Flows From Capital, Financing, And Other Non-Operating Activities:					
Initiation Fees	$	1,278		$	578		
Capital Dues	348		388		
Purchase Of Equipment & Capital Projects	(5,065)		(3,060)	(a)	
Loss on Equipment Dispoals	(3)		-		
Transfer to General Fund	1,204		(176)		
Transfer From BAN	-		2,350		
FEMA Proceeds	-		348	(b)	
Insurance Proceeds	-		85	(b)	
Hurricane Milton	-		(307)		
Interest From Investments	20		43		
Net Cash Provided (Used) By Capital And Other Non-Operating Activities	$	(2,218)		$	249		
					
Net Increase (Decrease) In Cash	$	(1,723)		$	427		
					
Cash At Beginning Of Period	$	2,882		$	1,160		
Cash At End Of Period	$	1,160		$	1,587		
Outflows of $3.06m includes $2m of outflows for final payment of projects at the beginning of the fiscal year and projections of $1.1m for Back 9 project.
Inflows from FEMA are expected to total $348k, and inflows from insurance proceeds are projected
$85k. Both amounts are related to Hurricane Milton.