The days are getting shorter and the morning temperature is getting cooler. The frost delay this morning is another sign that we are winding down the golf season. The fall in Central Oregon can be spectacular, so enjoy golfing before the mountains add their winter coat.
With the election of new board directors, this will be my final Tradition article. Going with me on the farewell tour are Barb Gahr and Josh Gordon. It has been an interesting three years and my thanks to Barb and Josh for their service. Congrats to the new directors and good luck to the new board. I look forward to the election of new officers at the October meeting and a swift exit.
At the midpoint of the fiscal year, our operating cash balance is strong and we are hitting the revised budget targets. We have several income sources that remain impaired. The banquet business is still a guessing game impacted by regulatory limits and reluctance to gather from those we normally provide service. Athletic and tennis memberships have been growing, but we are not back to pre-COVID levels. Pro shop merchandise and other revenue has improved, but still needs to grow.
Mulligans, cart sales and member dining have helped to offset the loss of cash generated from the banquet business. Continued thanks to members for your support of the club. The income shortfall has been offset by curtailing planned capital improvements and by diverting the monthly safety net funding to cover operating expenses. Both will likely continue until the end of the fiscal year.
I was looking forward to an easy final year on the board. Unfortunately, COVID-19 arrived before the start of the golf season and the new fiscal year. Despite a pandemic that has rocked our world and the club, we have experienced a record number of golf rounds and found refuge from daily turmoil. Forget the new normal. I look forward to the return of the old normal with structure, order, a friendly smile, firm handshake, civility and respect.
Enjoy your club. Many have worked very hard to keep the lights on and to provide the highest level of service possible. Thank you for the opportunity to serve
BGC Board President