Financial Plan 2018 and Membership Rates Overview

This presentation covers the financial plan for 2018, including revenue and expenditure details, as well as an overview of the proposed membership rates for the year. The agenda includes topics like establishing a quorum, rationale for moving to a recreation club, and proposed changes to the bylaws. Detailed information on current financial states, short-term capital funds, and the proposed budget are also provided.

• Financial Plan
• Membership Rates
• Overview
• Agenda
• Revenue

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Presentation Transcript

1. Agenda Introduction and Establishment of a Quorum Financial Plan 2018 Reasoning Behind Moving to a Recreation Club Bylaws Changes Overview and Vote Questions to Board and Director of Tennis Board/Bruce Levine Adjournment

2. Current State 2017 Account Receivable Owed 2017 Account Payable Owed $347.00 $305.00 $30.00 $12.00 TOTAL $11,564.24 $347 Short Term Capital Fund $52,000 Due in October 2020 at 3% per Annum

3. Fiscal Year 2018 Proposed Budget Tennis and Recreation TOTAL TOTAL TOTAL Plan Plan Plan TOTAL Expenditures Expenditures Revenue Administrative Plan Operations Membership Revenue $651 Accouting/Filing Expense (QB Fee) $482 Internet Expenditures Membership Types $1,065 Bank/Paypal/CC Service Fees $472 Electricity Tennis $16,800 Couple $7,780 Insurance $650 Maintenance - Bldg & Grounds $1,990 Electricity $9,900 Single Membership $300 Equipment Repair $495 Internet $500 Advertising $400 Child $265 Gasoline for Equipment $10,000 Open/Close Courts $700 Marketing Total Membership Types $27,100 $1,050 Supplies for Operations Total Membership $1,200 Salary New Membership Types Other Expenses $9,115 Tennis Pro Revenue Share Total Maintenance - Bldg & Grounds $2,265 $10,500 Couple $100 Miscellaneous Total Salary $9,115 Salary $400 Child $55 Postage (Includes Fee for PO Box) Tennis Equipment & Supplies $7,000 Club Manager $1,200 Student $33 Website $750 Tennis Chemicals Total Salary $7,000 $2,400 Young Adult Total Other Expenses $188 Total Tennis Equipment & Supplies $750 $711 Payroll Taxes $6,750 Single $559 Payroll Service Expense Total Tennis $22,590 $400 Sewer Total New Membership Types $21,250 Taxes $750 Trash Total Membership Revenue $48,350 $16,863 Property/Personal Property Taxes $2,960 Water Other Revenue Total Taxes $16,863 Total Operations $15,040 Total Administrative $28,305 $450 Clubhouse Rental $1,450 Guest Fees Total Other Revenue $1,900 Tennis Revenue $3,000 Cardio Tennis TOTAL $5,300 Filipek $500 Jr. Tennis Team Plan $800 California Point Play $7,000 Tennis Clinics Total Revenue Total Revenue Total Expenditures Total Expenditures Net Operating Income Net Operating Income $69,950 $69,950 $65,695 $65,695 $4,255 $4,255 $2,500 Tennis Lessons $500 Pro Shop Sales $100 Tennis Olymics Total Tennis Revenue $19,700 Total Revenue $69,950

4. Membership Plan Tennis and Recreation 2018 Reduced Rate (Pay Minimum $350 by February 15) $ $ Membership Rates 2018 Number of Memberships From 2017 Estimated Number of Memberships Standard Rate Type Current Members 22 24 8 New Members 15 15 8 8 8 Single Couple $ $ 650 900 450 700 26 29 19 Single Couple Child Student Young Adult Child Each (In Household and Less than 25 years old) Type $ 50 Young Adult (25-35 Years old) Student (16-24 Years old) $ $ 300 150 *All Ages are calculated from January 1, 2018 10% Connecticut Sales Tax Not Included in Rates 2018 Revenue from Memberships Projected: $48,350 New Members: Single/Couple will be at Reduced Rate

5. Recreation Club Drivers Survey Results 1/3 vs 2/3 pool vs. tennis support Required investment / dollars to open lower club Competition with town pool and dropping family memberships Board and volunteers need to focus on what we can accomplish Tennis and social overall operating budget is lower 5

6. Copper Valley Club Bylaws Vote 1. Article II Section I: delete "a swimming pool and clubhouse, and other 2. Throughout: change "Pool(s) and Ground(s)" to "Grounds 3. VII.9: Re-election of member (correction to reference to section of Bylaws)

7. Appendix

8. Fiscal Year 2017 Recap 166 Biggest Ticket Items 143 Item Pool Repair Snack Bar Operations Operations Ground Salary Increase Y/Y $5,300 $3,700 $1,000 112 94 OVERALL $10,000 Note: Tax Bills Not Paid for 2015 or 2016 Item Water Tennis Salary/Assistants Insurance Pool Salary Electricity Tennis Court Opening Ground Maintenance Savings Y/Y ($16,000) ($12,600) ($11,600) ($5,200) ($2,100) ($1,700) ($1,400) OVERALL ($50,600) 2017 Expenditure Savings $69K from 2016 $13K Shortfall in Income Family Members have Dropped consistently over 20% per year since 2015

9. Fiscal Year Breakdown since 2014 2014 231,416 $ 271,605 $ (40,189) $ 2015 210,121 $ 268,017 $ (57,896) $ Difference (21,295) $ (3,588) $ (17,707) $ 2016 170,077 $ 213,377 $ (43,300) $ Difference (40,044) $ (54,640) $ 14,596 $ 2017 121,722 $ 135,200 $ (13,478) $ Difference (48,355) $ (78,177) $ $ Revenue Expenditures Income 29,822 2017 Financial Plan September 16 - Emergency Plan.xlsx 2017 Membership Analysis Tennis Pool TOTAL Notes No. of Memberships % of Memberships No. of Memberships % of Memberships 9.75 19% 41.16 98% 41.25 81% 0.84 2% 51 Assume 65% of Known 15 Families who use courts are Tennis Family 100% 42 Single/Couple 100% 2017 Revenue Breakdown Tennis 11,812 $ 33,611 $ 45,423 $ Pool 49,974 $ $ 50,660 $ OVERALL 61,787 $ 34,297 $ 96,083 $ Family Single/Couple TOTAL 686

10. Expenditure Savings $69K from 2016 but still a $13K Shortfall Family Members have Dropped over 20% since 2015 -$40K Loss 166 -$58K Loss Expenditures 143 -$43K Loss 112 Revenue 94 -$13K Loss Biggest Ticket Items Item Water Tennis Salary/Assistants Insurance Pool Salary Electricity Tennis Court Opening Ground Maintenance Savings Y/Y ($16,000) ($12,600) ($11,600) ($5,200) ($2,100) ($1,700) ($1,400) Item Pool Repair Snack Bar Operations Operations Ground Salary Increase Y/Y $5,300 $3,700 $1,000 OVERALL $10,000 OVERALL ($50,600) Note: Tax Bills Not Paid for 2015 or 2016

11. Operating: $ 123,423 Capital: $ 96,000 Fiscal Year 2018 Proposed Budget OVERALL: $219,423 TOTAL Plan 2018 Actual 2018 Plan 2017 2016 Tennis Expenditures Expenditures Tennis Swimming 2018 Tennis Budget: $1,303 $1,678 $1,990 Electricity $5,841 Electricity 2018 Swim Budget Operating :$67,490 Capital: $91,000 TOTAL : $158,490 Filipek $440 Internet $92 $349 Supplies & Materials $3,905 Open/Close Pool Expenses Operating: $55,933 Capital: $ 5,000 TOTAL: $60,933 Total Filipek $92 $349 Pool Repair $532 $495 Internet $657 Pool Equipment & Supplies $10,038 $11,775 $10,000 Open/Close Courts Fuel/Delivery Charge Salary $7,334 Pool Chemicals $606 $4,060 Tennis Assistants $450 Swim Equipment $7,108 $5,796 Tennis Coach $78 Swim First Aid $1,775 $2,053 $1,775 Tennis Maintenance Total Pool Equipment & Supplies $8,520 $3,686 $14,013 $9,115 Tennis Pro Revenue Share Salary Total Salary $13,175 $25,922 $10,890 Dive Coach Payroll Taxes $1,083 $2,691 $178 Swim Assistant Coaches Pool Club Capital $283 $124 Tennis Equipment & Supplies Swim Coach $270 Tennis Balls $15,000 Swim Guards $1,053 $750 Tennis Chemicals Total Tennis Equipment & Supplies Deck Dive Pool Pool Covers Painting Other TOTAL $45,000 $35,000 $8,000 $2,000 $1,000 $91,000 Total Salary $15,000 $1,605 $124 $750 Payroll Taxes $1,800 $342 Tennis Maintenance Swim Team $80 Tennis Team Swim League Dues $17 Tennis Jr. Ladder Food Swim Trophies Tennis Trophies Total Swim Team Total Tennis Team $17 $80 Total Swimming $35,506 Total Tennis $27,314 $43,492 $24,303 Administration $14,466 Administration $14,740 $20,672 $14,275 Operations $17,518 Operations $17,300 $27,153 $17,355 Total Expenditures $67,490 Total Expenditures $59,353 $91,318 $55,933

12. Fiscal Year 2018 Swim Budget Bare Bones Service Plan Actual 2017 2016 2018 Expenditures Swimming $6,468 $7,579 $3,000 Electricity 2018 Swim Budget Operating :$42,380 Capital: $45,000 TOTAL : $ 87,380 $464 $633 $500 Internet $3,905 $4,665 Open/Close Pool Expenses $4,677 Pool Repair $657 $83 $700 Pool Equipment & Supplies Fuel/Delivery Charge $7,334 $6,384 $6,000 Pool Chemicals $450 $171 $450 Swim Equipment $78 $256 $100 Swim First Aid Total Pool Equipment & Supplies $8,520 $6,893 $7,250 Salary Dive Coach Swim Assistant Coaches $3,000 $4,283 Swim Coach Note: Bare-Bones Pool Opening: No Life Guard and Dive Pool Only Fix Deck $8,621 $12,485 Swim Guards Total Salary $11,621 $16,767 Payroll Taxes $875 $13,983 $12 Swim Team $243 $300 Swim League Dues Swim Trophies Total Swim Team $255 $300 Total Swimming $36,785 $50,820 $10,750 Administration $14,740 $20,672 $14,275 Operations $17,300 $27,153 $17,355 Total Expenditures $68,825 $98,646 $42,380