The TS&M Woodlawn Golf Club held its annual general meeting on Feb. 25 to review the course's progress as it continues to bounce back from the 2011 floods.
In a year that saw Woodlawn open its re-designed back nine, the club made $140,794 from operations in 2013. Nearly $200,000 on top of that from flood-related income gave the course a net income of $327,899.
"The course itself had a really excellent year in my opinion," said Ryan Siever of Siever, Vermeersch and Fonstad, which reviewed the club's financial statements.
Among the sources of income were memberships and green fees, which brought in just over $700,000; the food and beverage operations, which saw an income of nearly $300,000, and rentals, which brought in $177,610. On the expenses side, the club paid out $669,187 in salaries and wages.
The club has $352,709 in cash as of Oct. 31, 2013, which is up more than $100,000 from the beginning of the financial year.
Woodlawn received just under $500,000 in insurance proceeds relating to the floods. Of that, they spent about $300,000, mostly on repairs and maintenance.
Elections for the board of directors were also held. Chris Davidson defeated Vince Morrison to remain as the greens director; Dustin Wilson defeated Brian Dau for the job of pro shop director, taking over from Jeff Pratt; and Jeff Ward defeated Keith Walton for the position of member at large, taking over from Ashley Gallaway.
Gallaway was acclaimed as the new ladies rep, which had previously been filled by Sherry Quirk, while Daryl Donovan was acclaimed to continue in his position of junior rep.
The membership approved Meghan Betnar to continue in the secretary's role. The position went unfilled at last year's AGM and Betnar was appointed later.
Adult membership fees are going up 10 per cent to $1,100 for the 2014 season. Woodlawn general manager Brian Dueck noted that raising memberships by only five per cent would have made a difference of $20,000 in revenue. Green fees remain unchanged.
The club is budgeting a profit of $35,455 for the 2014 season after loan payments are deducted.
Woodlawn currently has $880,582 in long-term debt from mortgages and a loan with Affinity Credit Union. Of that, $107,535 will be paid off this year.
Maintenance items in this year's budget include work around the clubhouse and first hole tee area, which will be done in the spring; a fairway bunker on the 15th hole and sod on No. 7 and No. 14; new equipment and upgrading the maintenance shed, which was put off from last year.
