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FINANCIAL UPDATE As of June 30, 2025

By Nolan Person President, Woodbridge Golf & Country Club

As part of our ongoing commitment to transparent and effective communication, I am pleased to provide you with a mid-year financial update. This summary reflects our financial performance and position through June 30, 2025. It is our goal to keep you well-informed on how your club is operating and where we stand financially.

Balance Sheet Highlights (as of June 30)

(see table in newsletter)

• Cash & Reserves: Our cash position has declined compared to last year, primarily due to the legal settlement and the timing of capital expenditures and ongoing investments in club improvements.

• Working Capital: Reflects a reduction year-over-year, which we continue to monitor closely while balancing our operational needs and strategic projects.

• Total Debt: Down by more than $170,000, a positive step as we continue to reduce our long-term liabilities.

Income Statement Summary

(see table in newsletter)

• While we are slightly behind budget in most revenue categories, we continue to see strong participation across our amenities.

Cost of Goods Sold

(see table in newsletter)

• We are managing costs effectively, particularly in Golf Merchandise, which has contributed positively to margin preservation.

Operating Expenses

(see table in newsletter)

• We are operating under budget by more than $113,000, thanks to disciplined spending and cost management across multiple departments.

Bottom Line

Net Operating Income $37,573

Budgeted: $46,249 Variance: ($8,676)

While slightly under our year-to-date target, we remain close to break-even and well-positioned heading into the second half of the year.

We appreciate your continued trust and support as we maintain a careful balance between enhancing the member experience and ensuring long-term financial sustainability. We will continue to provide regular updates and welcome your feedback at any time.

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