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Financial Information

2011

• July - September, 2011 SPGCO Year to Date Financial Statements (Unaudited)
  Note: : The golf club revenues through September were $641,862.22, up from $293,357.27 through the end of June. Operating revenues were $628,112.05 with two categories, Membership at $100,614.11 and Green/Cart Fees at $427,729.40 accounting for the bulk of the operating revenue. Other income contributed another $13,750.17. Actual expenses were $596,633.67 compared to budgeted expenses of $590,541.00, which is $6,092.67 over budget. The summer revenues were good, but were negatively impacted by the hurricane and the heat. The 2011 plan was that the golf club would be positive $155,814 in net income before depreciation thru September, but actually achieved a positive $130,858.65, which is $24,955.35 less than the plan. The Balance Sheet cash position at the end of September was $447,469.49.

  Click (((-))) here to see the YTD Profit & Loss Statement thru September

  Click (((-))) here to see the YTD Balance Sheet as of September 30, 2011

  April - June, 2011 SPGCO Year to Date Financial Statements (Unaudited)
  Note: The golf club revenues through June were slightly behind plan. The revenues ended at $280,719.83 only slightly behind plan by $4580.17. However, the net income before depreciation was $12,574.29 better than plan. The Balance Sheet cash position is down from $415,677.41 at the end of March 2011 to $342,040.00 at the end of June. This is due to contributing $100,000 toward the Salt Pond road project and the positive cash generated during the April - June period.

  Click (((-))) here to see the YTD Profit & Loss Statement thru June

  Click (((-))) here to see the YTD Balance Sheet as of June 30, 2011

  January - March, 2011 SPGCO Year to Date Financial Statements (Unaudited)
  Note: The golf club revenues through March were better than planned. The revenues ended at $84,201.17 compared to a budget of $72,250.00 for a positive $11,957.17 in revenues over budget. Other Income contributed another $10,724.75 in revenues; mainly due to the sale of aged golf carts. Expenses were $141,662.99 compared to the budgeted $134,629.00, which is $7,033.99 over budget. This is mainly due to buying chemicals and fertilizer in the first quarter planned for the second quarter. The golf club is always negatively impacted by the winter months during the first quarter. The 2011 plan was that the golf club would lose -$36,309 in net income before depreciation by the end of March However, the first three months actually ended with a loss before depreciation of -$20,430.56 for a loss more favorable than planned by $15,878.44. This positive impact was due mainly to much better revenues than planned. This loss is planned to quickly turn positive as the golf club gets into the spring and summer months. The Balance Sheet cash position is down from $509,941.20 at the end of 2010 to $415,677.41 at the end of March. This is due to contributing $50,000 toward the road project and the normal cash drain over the winter months.

  Click (((-))) here to see the YTD Profit & Loss Statement thru March

  Click (((-))) here to see the YTD Balance Sheet as of March 30, 2011

  
  
  

• 2011 Budget.

  Click (((-))) here to see 2011 Golf Course Budget

  
  
  
  

  2010

• December, 2010 SPGCO Year to Date Financial Statements (Unaudited)
  Note: The final YTD operating income was $683,499.02 and other income was $7,499.75 for total 2010 income of $690,948.67. The net income before depreciation was $70,844.27. Depreciation was $99,941.52 for a net taxable loss of -$29,097.25 for 2010. The important figure is the positive $70,844.27 income before depreciation. The Balance Sheet cash position at year end was $509,941.20; down from $592,196.10 at the end of October. The drop in cash reflects the effect of the lower income received in the November and December winter months and the fact that several invoices for the new well were paid. The golf course cash position varies greatly during the year. The cash position is highest after the summer months and drops in the winter months until membership income starts to come in in the March/April timeframe.

  Click (((-))) here to see the YTD Profit & Loss Statement thru December

  Click (((-))) here to see the YTD Balance Sheet as of December 31, 2011

• October, 2010 SPGCO Year to Date Financial Statements
  Note: The YTD operating and other income totaled $671,473 The Net Income before depreciation was $130,125.49. Depreciation totaled $82,835.04 for a net positive taxable income of $47,290.45. The Balance Sheet cash position was $592,196.10.

  Click (((-))) here to see the YTD Profit & Loss Statement thru October

  Click (((-))) here to see the YTD Balance Sheet as of October 31, 2011

• July, 2010 SPGCO Year to Date Profit & Loss Statement
  Note: In July, the revenues were $154,779.23 for YTD revenues of $427,785.42. The net profit for July was $87,743.45 for YTD net profit of $9,277.36. This illustrates the importance of the summer months for the Golf Club. August is expected to have another significant positive impact.

  Click (((-))) here to see the YTD Profit & Loss Statement thru July

• March, 2010 SPGCO Year to Date Profit & Loss Statement
  Note: After horrible weather in January and February, good weather finally arrived in March. In March, green and cart fees were actually ahead of budget and 2010 memberships started to be received. March revenues reached $41,213.88 and income before taxes were a positive $1,536.22. YTD revenues through March were $83,178.26 and YTD losses were less than budgeted.

  Click (((-))) here to see the YTD Profit & Loss Statement thru March

• 2010 Budget.

  Click (((-))) here to see 2010 Golf Course Budget

  
  
  

  2009

  
  Note: The Golf Club ended 2009 with Revenues of $701,654.37 and Net Income after depreciation of $10,298.60. The following are the final SPGCO 2009 Audited Finanacial Statments:
  

  2009 Audited Profit & Loss Statement

  Click here (((-))) to view the statement.

  2009 Audited Balance Sheet

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• December, 2009 SPGCO Year to Date Profit & Loss Statement
  Note: The year ended with $716,45.37 in operating and other income and $712,456.78 in expenses for a positive before tax income of $4,038.59. When depreciation is added back in, the net income before depreciation is $101,886.43. These numbers are unaudited and there will probably be adjustments. The audit is in process and the final audit should be completed in April or May, 2010. .

  Click (((-))) here to see the YTD Profit & Loss Statement thru December

• November, 2009 SPGCO Year to Date Profit & Loss Statement
  Note: Year-to-date (YTD) operating revenues reached $697,325; up from $688,485 at the end of September. YTD net income after depreciation was a positive $59,385 and before depreciation was a positive $149,261.80. The winter months are having an impact on YTD revenues and profits as budgeted.

  Click (((-))) here to see the YTD Profit & Loss Statement thru November

• October, 2009 SPGCO Year to Date Profit & Loss Statement
  Note: Golf Club operating revenues reached $688,485 YTD; up from $592,069 at the end of August. The impact of the fall/winter months is impacting YTD financials as planned. Net income after depreication was a positive $91,445 and before depreciation was a positive $173,151. Through October, the Golf Club is ahead of its' net income budget.

  Click (((-))) here to see the YTD Profit & Loss Statement thru October

• August, 2009 SPGCO Year to Date Profit & Loss Statement
  Note: Golf Club operating revenues reached $592,069 YTD. Net income before depreciation reached a positive $124,114. Net income before depreciation was a positive $194,478. The Club is in its' highest positive annual position after the summer months as budgeted. The net income is expected to decrease the rest of the year, but end in a positive balance by year end.

  Click (((-))) here to see the YTD Profit & Loss Statement thru August

• July, 2009 SPGCO Year to Date Profit & Loss Statement
  Note: Golf Club operating revenues reached $162,643 in July; approximately $7,000 over the budget. A great month! This makes year-to-date revenues $438,208. Net Income before taxes are a positive $45,325 and Net Income before depreciation reached a positive $102,518. The Golf Club is very close to its budgeted finanicial Net Income Plan.

  Click (((-))) here to see the YTD Profit & Loss Statement thru July

• June, 2009 SPGCO Year to Date Profit & Loss Statement
  Note: The gain before depreciation thru June was a positive $11,097 compared to a net loss of -$13,243 at the end of May. Already thru 12 days of July, the revenue has increased by approximately $68,000. The impact of the summer business is positively impacting the financial's as planned.

  Click (((-))) here to see the YTD Profit & Loss Statement thru June

• May, 2009 SPGCO Year to Date Profit & Loss Statement
  Note: The budgeted loss before depreciation thru May was $17,889 and the actual was $13,243.11. This is $4,646 better than we anticipated and budgeted. June, July, and August are the best revenue producing months.

  Click (((-))) here to see the YTD Profit & Loss Statement thru May

• 2009 SPGCO Budget

  Click (((-))) here to see the budget

   

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