PRESIDENT ’ S MESSAGE
A MESSAGE FROM THE BOGEY HILLS FINANCE COMMITTEE
Earlier this year , we informed you of our optimism for 2020 being a record year for Bogey . It was soon put to rest by the COVID outbreak .
The COVID impact on club events of all types ( weddings , business meetings , holiday parties , golf outings , etc .) has been significant . We initially expected gross revenues from such events to exceed $ 1,700,000 for the year . Our current expectation is roughly $ 310,000 .
This material drop in non-golf revenue will ensure another year of post fire financial loss for Bogey Hills . On the positive side , we are fortunate to have received just over $ 500,000 in Payroll Protection Plan funding via the Federal Government CARES Stimulus Plan . This will cover much of our 2020 loss , but unfortunately not all of it , and we cannot rely on such bailout funds going forward . We must learn to live within our means .
To add financial resiliency , we raised additional equity capital of $ 270,000 and are welcoming three new Board members : Mike Ficken , Dennis Osborne , and Tom Slater .
Despite the COVID challenges , we continue to make investments in our facility and golf course to provide our members and guests an excellent experience . Just a few examples :
• Baby pool coping stone replacement
• Short game chipping , putting , and sand trap area
• Waterfall repair on # 9 lake
• Completed # 8 creek work and landscaping
• Acquired new fairway mower
• Acquired new chipper for limbs , leaves , etc .
Thankfully , this year has yielded good weather for golf . We are on track for 20,000 rounds of golf ( a record ) with a nice pick up in golfing members ; now at 303 . Our current intention is to begin a golf membership wait list
at 325 members and to increase the initiation fee at that time . Post COVID revenue may raise its ugly head and force us to reconsider , but this is our current intention .
Much as in 2020 , we will continue to make capital improvements . A few coming attractions are :
• New driving range mats ; the very best
• New pavilion tables
• Six new golf utility / maintenance carts
• Improved , wind tolerant , deck shades
• Cart path repairs
• Staining of pavilion , pergola , and pool
• Upgrade to the men ’ s restroom at Halfway House ( women ’ s done in 2020 )
To continue to invest in and to maintain our property , while living within our means , the Board decided to not increase member dues for 2021 and eliminate the Food & Beverage minimum , yet a new capital charge will be established . The capital funds raised will be used to pay for property improvements like those previously mentioned . The monthly charge will be $ 25 for golfing members and $ 15 for all non-golfing members . The capital fee will be effective beginning March 1 , 2021 . Included with this letter is your 2021 dues election form . Please fill it out and return to Heather Schadt , Membership Director .
Lastly , we thank all of you for continuing to refer family and friends to join and utilize Bogey . We are all justifiably proud of our club and sharing it with others benefits us all . Soon , deck dining will be a bit weather challenged . Please know our interior sanitization and air handling systems are excellent and we aim to provide for your comfort and safe dining experience at all times .
Please enjoy your club all fall and winter long . See you at the club .
Norm Eaker Alan Honerkamp Scott Hays