from the finance chairman As a supplement to the quarterly financial reports prepared by the club’s Chief Financial Officer, Pam Roth, I felt it was important to provide a quick summary of where the Club is financially through the first two months of our fiscal year, September and October. For the two months, operating revenue exceeded budget by $47,000 with the biggest gains in West Food and Beverage, Tennis, and West Pro Shop. In addition, we’ve experienced a positive variance of $50,000 in our Repairs and Utilities departments compared to budget, and nearly $30,000 in the General Clubhouse departments. One area where we are slightly under budget is our Member headcount. As of the end of October, our membership headcount was 2,191, which was 8 less than budget. At the bottom line, operating cash flow
generated during the two months was $131,000 better than the budget. Most of the positive variance was generated in October, and we’ve dubbed it “Christmas in October!” as it certainly feels like a gift! This brings us to the outlook for the next 120 days. With the temporary closing of West’s indoor dining during one of the busiest times of the year, we anticipate that the financial performance for November and December will be less favorable than budget. This will carry into January, with February getting back to budget. February marks the mid-point of our fiscal year, and we project that we’ll be on budget for the first six months. As I mentioned in my last article, our Finance Committee and Board of Governors have been proactive in identifying strategies to ensure our financial stability. Rest assured, we have already implemented
several of these strategies and have others in the wings if needed. Management’s mission is to create a Member experience that provides exceptional value in a safe environment. So take advantage of Member specials in our dining outlets, come to the Club for a socially distant tennis lesson, and browse the selection of Lululemon in our Pro Shops. And remember, your Downtown Clubhouse has capacity and is able to host your holiday party, accommodate your guests, and is a gathering place for friends and colleagues. See you around the Club!
Matt Gross, Finance Chairman Missouri Athletic Club
SAVE THE DATE
the Preservation
FOUNDATION
SATURDAY F FEBRUARY 13 F 2021
Gala
Downtown Clubhouse - Missouri Room F More details to come Questions 6 F Cherry Diamond F DEC 2020 - Contact Katie Maurer at kmaurer@mac-stl.org