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Friday 15 May 2020

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Finance Update

What a wild ride it has been.  With the annual audit now behind us, Fiscal budgets set for the new year and massive disruptions to the club with Covid 19, we are beginning to see the light at the end of the tunnel.  We have prepared several budget scenarios, (best case and worst case).  

The Finance committee along with the Board have held numerous meeting to position the club to be financially viable in these uncertain times.  The club has seen a drop in revenue of more than 30% beginning April 2020 and as a result, we have qualified for job keeper.   We have made a conscious decision to keep all staff through the job keeper program and encouraged all staff to use annual leave where appropriate.  We have also worked closely with the restaurant to encourage take away trading.  Our measures have worked.         

As many of you know, the club operates with a substantial overdraft limit throughout the year.  We have made several structural changes to this department to ensure better tracking, proper planning, and greater efficiencies.  The result should see a substantial reduction in our use of our overdraft in the coming fiscal year.                                                                                   

As a member-based club, our approach has been to ensure our members are kept up to date with the events of Covid 19 through the 19th News. We do not have a clear undertaking when the clubhouse will re-open but when it does, we will all be restricted to various safe distance requirements for the foreseeable future.

Our halfway bar is coming along very nicely and should be ready to go in a few weeks.  Another major project is upgrading the upstairs bar area.  The keg rooms, bar fridges, plumbing for beer lines, etc have all needed major repairs and upgrades for many years. We hope to have all in place by mid-June.

Due to the Covid 19 restrictions, the Board is looking to reschedule the AGM at a date when the State Government allows us to hold a meeting with 100 members in a room.

As of this weekend groups of four are allowed back onto the tee however, we must not be complacent and continue to practice social distancing.

Enjoy your game and stay safe. 
Kind Regards,

Tim McCauley Chairman - FTAA

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May 2020 Golf Quiz

10 Questions - Golf NSW Reference publications for this quiz are the Player's Edition of the Rules of Golf and the Rules of Golf. If you do not have printed copies, this reference material is available online at the R&A web site www.randa.org/en/rog/2019/pages/the-rules-of-golf . In addition, the smart phone app, Rules of Golf 2019, can be downloaded from your app store includes the above publications. Click the Start button to commence the quiz. 

Good luck.

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Thank you to our sponsors

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North Ryde Golf Club
Twin Road, North Ryde, NSW 2113

P: (02) 9887 4422
E: office@northrydegolfclub.com.au


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