1. Georgetown Country Club
State of the Club
February 17, 2014

2. Our Mission Statement With passion and enthusiasm we will provide the highest level of quality, personalized service and recognition honoring our commitment to continuous improvement.
Our Goals Drive Revenue & Membership Stabilize / Control Expenses Create a higher level of member involvement Beautify / Color our Golf Course Re-invest in our Club Re-invest in our Members Re-invest in our Staff

3. Revenue Summary 2011 2012 2013 Trend 2014 Projected
Gross Revenue = $1,996,483
(based on a membership low to high of 469 to 501 golf members)
2012
Gross Revenue = $1,996,504
(based on a membership low to high of 467 to 493 golf members)
2013 Trend
Gross Revenue = $2,052,351
(based on a membership low to high of 416 to 470 golf members)
2014 Projected
Gross Revenue = $2,087,734
(Dues increase only based on 400 golf members 40 social, No other financial growth)

4. 2013 Financial Trend Summary
Dues Line $ 883,815.00
Golf Ops $ 258,273.03
F&B $ 725,814.08
G&A $ 100,149.92
Pool $
Misc. Revenue $ 82,147.50*
* Includes Capital Improvement
Total Revenue - $ 2,052,351.20
Cost of Sales - $ 384,792.18
Total Expenses - $ 1,712,035.40
Total Net ($ 44,476.38)
Asset Purchases $ 49,797.00
NOI ($ 94,273.38)

5. YTD Operating Expense Increases Dec 2012 –vs- Dec 2013
Pool Tennis - $32,195
Golf Ops - $93,872
Course - $338,495
F&B - $322,804
COS - $277,241
G&A - $372,678
Total Expenses $1,434,285
Excluding any capital purchases
Pool Tennis - $28,148
Golf Ops - $96,567
Course - $320,308
F&B - $343,928
COS - $288,620
G&A - $398,810
Total Expenses $1,488,210
*4% increase in expenses*
Excluding any capital purchases

6. Year End Expense Totals
2011
$1,974,519.26
2012
$1,995,244.54
2013
$2,096,827.58
Projected Expense Increase
$101, or 5%

7. 3% INCREASE

8. How do we get Healthy? 416 Full Golf - $150 per month
Current Dues
416 Full Golf - $150 per month
45 Social - $100 per month
Total Dues Monthly Revenue –
$66,900
Proposed Dues
400 Full Golf - $180 per month
40 Social - $110 per month
Total Dues Monthly Revenue –
$76,400

9. Net Operating Income Yield (NOI)
2011
Net Operating Income = ($23,150.29)
2012
Net Operating Income = ($44,879.09)
2013 Trend
Net Operating Income = ($94,273.38)
2014 Projected
Net Operating Income = $15,699.13
(Dues increase only No other financial growth or expense cut)
** Depreciation Excluded**

10. Membership Recruitment
Member Sponsor Incentive
New Member Incentive
Golf
Three (3) Months of $50 off Dues
$300 in Food and Beverage Credit
Six (6) complimentary Golf Guest Passes including cart
Ten (10) complimentary Guest Pool Passes
* Incentive given after 90 days continuous membership
Social
Three (3) Months of $25 off Dues
$200 in Food and Beverage Credit
Six (6) complimentary Tennis Guest Passes
Golf
Three (3) Months of $50 off Dues
$300 in Food and Beverage Credit
Six (6) complimentary Golf Guest Passes including cart
Ten (10) complimentary Guest Pool Passes
* Incentive given after 90 days continuous membership
Social
Three (3) Months of $25 off Dues
$200 in Food and Beverage Credit
Six (6) complimentary Tennis Guest Passes

11. New Member Contest
The Member that refers the most new members to our club will receive free transferable entry into The Pinehurst Pro Am in 2015

12. Monday Golf Outings Resources
Contact local Businesses about possible corporate outings.
Chamber of Commerce
Website
Advertisements
Member referrals
Marketing
Community Involvement
Local Schools

13. Weddings Resources Wedding planner shows Email Marketing Website
Advertisement
Local newspaper adds
Magazine adds
Direct Mail pieces

14. Private Events Social Functions Business Meetings
Marketing Website Advertisement Local newspaper Magazine Direct Mail

15. How does a “No” vote impact you?
The Harsh Reality
How does a “No” vote impact you?

16. Immediate Expense Cuts to Operations
Reduce Golf Course budget from 426k in 2013 to 350k for 2014
Reduce Golf Course payroll from 211k to 175k and 6 total employees
Reduce Golf Shop payroll from $91k to 78K
Reduce F&B staff and payroll from $237k to 192k
Reduce hours of operation in Restaurant and Bar

17. Additional Club Increases Required
Trail Fee
Cart Storage Fee
Rental Cart
Beer Price
Liquor Price
Food Menu
F&B Minimum
Other identified revenue stream

18. Questions and Answers