GOLF HAMMOCK COUNTRY CLUB, INC.
Annual Meeting for 2011
February 5, 2011
Meeting called to order by President Barbara Akus - at 1:30 PM. Followed by the Pledge of Allegiance.
Thank you all for coming to the Annual Meeting of the Golf Hammock Club.
We have been advised that there was a quorum of members present, in person or by proxy. The meeting notices and election materials were sent out at the correct time. Thereby making this meeting lawful.
Members Present: Barbara Akus, Gail Archey, Cindy Bowser, Pete Broksch, Jim Dall, Hardric McMillon, Tom Senior and Wray Walker
The minutes of the January 16, 2010 Annual meeting stand approved as published on the web page and posted in the conference room. The minutes of the last regular meeting January 18, 2011 stand approved as posted in the conference room and as published on our web page.
The first order of business is to introduce the candidates running for the Board. Incumbent: Barbara Akus. Also running for the Board is Millie Grime. Millie apologizes for not being here but had purchased tickets for a bus tour before the date of this meeting was set. The meeting was opened for nominations from the floor but there were none so a motion was made by Hardric McMillon and seconded by Tom Senior to close the nominations. The tally clerks collected the outstanding ballots.
Before I ask for committee reports I want to thank the Board for enduring a particularly difficult year. With sale of the course on and off and on and off we had a few extra jobs, like a complete inventory of every building down to the last extension cord (just an example). We all chipped in and got this job done. When Diedre was out for an extended period Jack McLaughlin stepped in there to help out then Gail took over corresponding daily with Diedre and getting all the bills paid, employees paid, bank deposits in etc. Thank you both so much!! Jack isn’t here as he resigned about a 1 ½ months ago…who can blame him. Several members of the Board did extensive searching to find members whose addresses were no longer current so we could inform them of the impending (at the time) sale so they could get their “Voting Certificates” in. I can’t even begin to tell you the work Tom has done this year, besides trying to come up with financials with a system that seems to fight us at every turn, he did soooooooo much work for the sale of this course. He came up with all the papers, documents, numbers etc. required by purchasing parties, as well as preparing other needed reports and keeping us all informed every step along the way. This club owes a great debt of gratitude to Tom for the 9 untiring years he has given us and the work he has put into keeping this club afloat.
This Board has worked well together, we got all the jobs done and we are looking forward to “retirement”.
We are asking that anyone that has any comments during the “members comment” portion of our meeting or if a Committee Chairman asks for questions, these comments or questions be kept to no more than 3 minutes.
Treasurer’s Report 2010: Covered below in financial report by Tom.
Manager Reports
Golf Course Superintendent-
Mike Parker - report given by Wray
Walker
The course is looking good, the tee boxes, fairways and greens. I also haven’t heard too many complaints on the placement of pins, so you either gave up or we are improving.
To bring you up to date on the budget for our course last years Maximum budget was $440,000.00 and we came in at $437,068.00. This year our Maximum is $420,000.00 and so far we are running at a $415,000 pace. We are keeping our eye on Fertilizer, Fuel Oil etc. and so far our cost is up approximately $1,000.
There is a list of agronomic events planned for your appreciation, and they are listed in the pro shop. We will be doing the aerification of our greens with our own crew, as we purchased new mid tines for the job. Everything will go well, as I expect it will and this should save us about $6,000.
The work on the course will start April 18th with 9 holes shut down and April 19th the other 9 holes. On April 27th we will be closed to apply curfew on the greens and fairways where needed. Double stack/core removal, top seeding and fertilizing will take place as noted on the list in the pro shop.
Mike, Shawn and the crew are doing a great job and they will continue to do so.
Our promise to the playing members and our outside guests is: we will do whatever is necessary to keep this course looking good and playing great.
Personnel: Wray Walker
We have talked to our full time employees, and they have
agreed to some modifications to their sick days and the holiday pay policy, these
modifications have been put into effect.
Our membership continued to decline. This year we had 92 golf members, 26 range members and 11 pool members. We are unable to sustain the financial viability of the club with so few members.
Roger continues to do a yeoman’s job in recruiting golfers. Consequently, our outside play has been very good during the season.
Our continued efforts to be competitive have caused our rates to be down. During the month of Jan. the inclement weather did have an adverse impact on golf play.
Roger reports that his efforts to organize a local golf association came to fruition in Dec. as the Heartland Golf Association was formed. Sam Timms of Highland Ridge was elected to lead the group. This group will work to address common issues affecting golfing in this region. Also, they will work with the visitor’s bureau and hotels to bring more golfing to the region.
We thank Roger and his staff for the outstanding job they’re doing.
The following was done this year:
1. A new electronic key pad was installed on the pool’s entrance door.
2. In the restaurant a compressor was installed in the cooler.
3. Fred Barefoot and Curt Passafume rebuilt the benches on the range.
4. Curt installed wooden curb around flower bed behind pro shop.
5. A leak on roof was repaired.
6. Bernie Doyle installed new doors on the closet in restaurant.
7. The electric meter had to be installed on the outside of the restaurant so that progress energy will have 24/7 access.
8. Fred Barefoot and Curt Passafume repaired and painted deteriorating pillars around the restaurant.
9. Curt re-striped the golf cart parking lot.
Corresponding Secretary
– Cindy Bowser
Minutes of all special meetings were taken and posted in the conference room.
Restaurant Chairman - Cindy
Bowser
A year in the life of a golf course restaurant has been a real roller coaster. This past year has brought wonderful gatherings, good food, and many friendly events. However, it has also been a disappointing year for Mulligan’s in regards to turning a profit. As we all know, a business must show a profit to survive. Members and their families have tried to patronize Mulligan’s and we really appreciate this support.
Since fall, your Golf Hammock board has tried to assist Mulligan’s by reducing their monthly expenses. We realize that the restaurant is an amenity to Golf Hammock Club. Unfortunately, after a year, Bob and Annette have given their notice that they will be leaving at the end of February. We would like to thank them for their efforts to make Mulligan’s an integral part of the Golf Hammock community.
GHCC held tournaments celebrating Valentines
Day, Farewell Tournament, Member Guest or Member- Member Tournament, Memorial
Day Tournament, 4th of July Tournament, Halloween Tournament, Welcome Back
Tournament. We will have a Valentine Tournament tomorrow, February 13th.
Golf Course Equipment – Pete Broksch
Since the replacement
program has been on hold due to the pending sale, the order of the day is
repair, repair, repair. Although some of the pieces show their ages, the
fleet is in
operable condition and should continue to get the job done.
Do Crew Activities – Pete Broksch
Space in the dump is disappearing rapidly. Work has
been and will continue to be on
a necessary/emergency basis. Many thanks to Don Murray and his
magical tractor.
Somehow Don manages to cram more and more debris into less and less area.
Our financial
results for 2010 - Tom Senior
Yesterday our accountant delivered his report for 2010, a full 2 months ahead of schedule. This followed a week of resolving issues with respect to EZ Links and our Quickbooks accounting system. In a nutshell our 2010 results are as follows:
|
Item |
2010 |
2009 |
|
|
|
|
|
Net
Revenue After Inventory Adjustments |
$ 686,931 |
$ 746,033 |
|
|
|
|
|
Expenses |
$ 722,385 |
$ 733,909 |
|
|
|
|
|
Operating Income |
($ 35,455) |
$ 12,124 |
|
|
|
|
Some of
you may remember that at our January meeting I guesstimated that our loss for
2010 would be between $ 10,000 and $ 20,000.
This guess was actually better than it might seem since our accountant
agrees that roughly half of our actual loss for 2010 is due to inventory
adjustments. So, if the sale does not
materialize, then one of our projects for 2011 will be to get a much better
handle on our inventory values.
The
accountant’s report for 2010 is posted in the conference room in the pro shop
and copies will be made available upon request. Please do not remove the posted copy.
Golf Hammock
Country Club
Dues Paying
Members 2010 and 2011
2010 2011
Voting
Members
Golf and Trail
Single 50 36
Family 30 22
Non-voting
Members
Golf and Trail
Single 5 2
Family 2 2
Status of the sale
of the Club – Tom Senior
As you know we have an offer to purchase the Club which is right now being evaluated by the prospective buyer’s bank to see if they are willing to give him financing. The prospective buyer currently owns the Bluffs Golf Course in Zolfo Springs, and his name is Jason Laman. As of yesterday Jason was saying that everything is moving along just fine and the bank assured him there is sufficient time to get everything done for a February 28, 2011 closing. This deal involves a purchase price of $ 725,000 and involves us guaranteeing that his share of 2011 dues will not be less than $ 150,000. Right now 2011 dues paid leaves us $ 2,800 short of $ 150,000 (on a prorated basis) and the shortfall will have to come out of our share of 2011 dues.
Some other elements of our agreement include:
1. Buyer
will be credited with $ 5,000 for repair of the Maintenance Barn septic system.
2. Seller will
receive the excess of the prorated amount assigned to the balance of 2011 over
$ 155,000 but such amount shall not exceed $ 25,000.
3. To the
extent that the prorated amount assigned to the balance of 2011 is more than $180,000, such excess shall be paid
proportionately to Buyer and Seller.
4. In the
event that a Member of GHCC who paid dues in 2010 defers payment of 2011 dues
until after the closing date, then Seller shall be entitled to a prorated
portion of such dues as if such dues were paid before the closing date.
5. Buyer
shall accept the property “AS IS”.
6. The
sale is subject to a vote by Seller’s members.
Jason’s sincerity with respect to making GHCC work for all of us is quite impressive. He has lined up carts to be delivered here, and is working on finding someone to run the restaurant. The Board hopes that he will get his financing and complete the deal.
Legal –
A letter was read from Chuck Pierson and will be posted in the conference room.
Acceptance of Reports: Reports were accepted as submitted
President’s Message
We have been very fortunate, I feel, that the two parties really interested in buying our course are local people who understand the economics of our area. Neither of the interested parties had any plans to raise membership fees through the roof, nor change the Men’s or Women’s Associations or couple tournaments. They both want to keep the restaurant going. So basically our “golf life” at Golf Hammock will not change and I think this is a VERY GOOD thing. If our present interested buyer gets his financing I think we’ll be very fortunate to have him as the owner. Let’s keep our fingers crossed that this deal goes through.
Thanks again to the “Do Crew” for saving us thousands of dollars over the years, to Curt and Fred for getting jobs done before we even get the words out of our mouths. And to all you other wonderful members who are always willing to lend a hand or get things done.
A special thanks to Jim Ingalls Jr. for taking over his Dad’s “job” and keeping our web page up to date. What a great guy he is, not even a member, to take on this job for us.
Thanks also to Lois for getting our Board Minutes done each month. Additional thanks to Judy and Clive Kelly for acting as superintendent of election, collecting and tallying the votes.
This might be our last Annual Meeting, and if it is I want to thank the membership for all the support they have given this Board. Thank you all!
Board Comments:
Member Comments:
Various questions were raised, mostly
regarding the sale, and addressed by the Board.
Election Results:
There were 181 memberships represented and voted at
the meeting either by proxy or in person.
The ballot contained two names and two names were write-in
candidates. The three candidates who
received the most votes were Barbara Akus, Millie Grime and Dan Pool. Each was elected to serve a three year term
or until the Club ceased to exist, if sooner.
Also on the ballot was the question of selling the golf course and
related facilities. There were 180
member votes in favor of the sale and 1 vote against the sale.
A workshop at 3PM on Monday, February 14th
A motion was made by Gail Archey and seconded by Wray Walker to adjourn the meeting at 2:15 PM.
The meeting is adjourned. Thank you all for coming.
_____________________ ________________
Barbara Akus, President Tom Senior, Secretary