News

Check out market updates

The Oaks Club on Solid Ground Financially

     Just returned from a 10 day holiday in British Columbia. In my stack of mail was a letter from the president of my club outlining the latest financial reporting for the month of May. Operating income was way above both budget and the previous year results. The balance sheet “remains strong” with the Club’s equity significantly higher than last year, with long term liabilities down and cash over $1 million higher. “The Club is comfortable meeting all of our financial guidelines and is well positioned to meet its operating expenses and capital needs for the remainder of the year” states the president.  Some of the new capital needs are a new state-of-the-art air conditioning system for the main clubhouse, pool deck replacement, and replacement of the roof of at least one of the on-course restrooms.

    The proactive nature of our board is one of the reasons why this club and its facilities remain the envy of all clubs in the Sarasota area.

Leave a Reply

Your email address will not be published. Required fields are marked *