EGM UPDATE: Proposal for a 3-Year Investment Programme was carried. 21/06/2017

Dear Member,

Over the past few years, Council has been exercising tight budgetary control to ensure that our expenditure falls more in line with our income. We are very grateful for the support from our members and staff during this difficult period. Our cash flow situation has improved but unfortunately, to balance the books, we have had to cut back on capital expenditure.

In four years from now, our bank loans will have been cleared and this will free up approx. £42K per annum for investment in the course and clubhouse. However, it is apparent that some areas of concern on the course (e.g. bunkers) and clubhouse (e.g. ladies’ toilets) need to be addressed as a matter of urgency.

The bank has agreed to provide financial support for a three-year investment programme by extending our overdraft facility, on the condition that the club raises part of the capital ourselves. Council therefore decided to call an EGM, which was held at 7.30pm on Monday 26th June 2017, to ask members to agree to a small levy over three years of £40pa for golfing members and £25pa for House and Social members (these levies to be collected from the £100 advance on members’ smartcards). Only Class 1 members were eligible to vote at the EGM.

A large majority of those present voted in favour of the proposal, which was therefore carried. Invoices for the smart card advance and the levy will be sent out to members over the next few weeks.

We hope to keep the use of the overdraft facility to a minimum by increasing profitability at the bar and through a range of fund-raising activities. The money raised through this levy will be held in a separate bank account, ring-fenced for the proposed course and house improvements which are outlined in the the “3-year investment programme” document, which can be accessed by clicking on the following link.

click here

Hon. Secretary