Having trouble viewing the email and images? View the email online.
 

CLUB NEWS

Friday 24 May 2024

 

Dear members,

INTERIM FINANCIAL UPDATE FROM THE TREASURER

The Club's Financial Year has only two months remaining until we close the accounts for another year. The Board thought it appropriate to update the Members on some financial matters. 

1. Major Expenditure Items undertaken this Financial Year 

Drainage Works - $100,000 - the third and final instalment of the back nine drainage works has been completed. I'm sure you will agree with the overall success of the works. The back nine is certainly in better condition as a result. There will be ongoing maintenance costs to ensure it works efficiently but hopefully these costs can be handled within the general "Course" budget.
1st Tee concreting work - $26,000
Tractor - $25,000
Back 9 Irrigation Controller - $10,000 - provides certainty on our auto watering program
Rough Mower - $10,000 - finding balls much easier in the rough these days!
Corer - $16,000
Cart Shed - $40,000 - much of the expenditure was in the previous year, but finishing touches were expended this FY. 

Car Park Surfacing - this project was outlined in a recent Newsletter. The Board is engaging with prospective parties with the intention of awarding a contract in the near future. The Board has budgeted approximately $150,000 for this project and expect it to be completed before the end of this calendar year. 

Improved Practice Facilities - again this was outlined in a recent Newsletter. The Board will work closely with the Green's Committee to improve our current facilities near the Clubhouse and adjacent to the 2nd fairway. There will be a significant dollar figure budgeted for this purpose and it is hoped the project will take its course over the next 12 months. 

2. Financial Performance 

So far this financial year the financial performance of the Club has shown generally better results than for the same period last financial year.
The demand for the Course by Green Fee players has increased and this has in itself generated higher revenue across equipment hire, bar sales and golf shop sales.
Membership numbers are higher than at this time last year with quite a number of prospective full members waiting on 5 and 6 day levels until space is available on the full member status. In addition, the extra evening events which have been scheduled has also added to improved revenues across the bar. 

The cost environment has also continued to rise where labour, wholesale alcohol, insurance and course maintenance inputs all increasing markedly.
Members will not miss the fact that increases to competition fees and bar prices did occur 4 months ago as a strategy by the Board to meet the cost increases to maintain a healthy financial position in order that major works can be funded. 

3. Membership Fees 

As most of you would be aware, fee levels have not changed for several years. Given the recent and prolonged inflationary challenge, the Board had anticipated that a small increase to membership fees would be necessary to maintain relatively unchanged net profit performance. 

We are pleased to say however, that as a result of the strong revenue numbers we have seen so far this year across our business units, again, there will be no change to the membership amounts for the 2024/2025 financial year.

The only changes the Board has agreed to make are to introduce an extra step in the transition of fees from the Junior category up to Full Membership. We are conscious of retaining as many of our junior members as possible and hopefully this favourable measure will ease the financial burden at end of high school age. 

The new fee structure for this cohort will be:
Under 18 - $135 pa
18-23 - $350 pa
24-26 - $700 pa 

It is a pleasing outcome that at least for one more year membership fees can remain unchanged.

Greg Williams Treasurer,
PIGC Board


club image

VALE

The Club is saddened to learn of the passing of long-term member Geoff May. Our thoughts are with his family and friends at this time. 

A memorial service will be held at the golf club on Tuesday 28th May at 2:30pm.


J. NIVEN MEMORIAL TROPHY

4BBB Stroke
Very night contest which was won by Scott Fullarton and Sean Ambler with rounds of 80 and 77 for a 36-hole total of 157.

They were followed by four pairs within 2 shots:
Rick Jenkins and Tim Duff
Rob Haydon and Jim Richardson
Owen Jolly and Steve Sloss
Christian Lloyd and Brandon Lloyd

Congratulations to all that played! 

PRIZE ACCOUNTS

Members have until June 30 2024, to spend accumulated prize credit and golf balls. Prize balances not used before this date will be forfeited. Members can convert their prize credit into a bar voucher, but this must also be used by June 30. Prizes credit and golf balls won after Monday 13th May 2024 won't expire until June 30, 2025.


club image

MEMBERS DRAW

Huge congratulation to Alice Schofield who walked home with the $750 first place cash prize in our members draw last Friday! 

Big thanks to all the members and our amazing host, Lyn Dunne, for making it such a great night. Thank you to Bowens in Cowes for sponsoring the night. 

The next members draw will be held on Friday 28th June. 


COURSE CLOSURES

The front 9 will be closed on Monday May 27th, and the back 9 will be closed on Wednesday May 29th. 

VETS GOLF

The next game will be at Lang lang on Monday 3rd June. 9am shotgun start.

Those wishing to play should contact Rob Davison on 0407 336 593


Phillip Island Golf Club
www.pigc.com.au
34-44 Settlement Road, Cowes, VIC 3922

P: (03) 5952 1121
E: office@pigc.com.au

 

facebook  twitter  instagram