Proposed 2014 -15 Kahler Glen Athletic Club Budget
Kahler Glen Athletic Club proposed budget 2014/15
Full Family 24/5
Couple only 24/5
Seasonal Single 4
Seasonal Couple 3
Seasonal Family 2
Continued from the previous column
Private loan Interest
Bank Service Charges
Dues and Subscriptions
Water Quality Services
Note to membership: The projected revenue for fiscal 2014-15 is conservative. The membership projected in the categories of voting members thru Single 24/5 is the actual membership. In the Seasonal categories, we have made a modest projections with the estimated number next to each of the three seasonal options. A postcard mailer is scheduled to go out in early June to the Lake Wenatchee / Plain mail boxes and to the PO Boxes in Leavenworth to assist us with the promoting membership at the club. With the addition of the new Personal Trainer service, we are anticipating a gain in new members. The Board is committed to continue making necessary upgrades in equipment and services with a goal of hiring at least a part-time facilities manager for the club within the not too distance future. Bad Debts is put into the expense account to hedge our projection on revenue. Partly because of the new dehumidifier (fall of 2012), our Equipment Repair expenses have been lower than in the previous years, so we were able to use that savings, together other savings and funds from the Reserve account, to pay off the $20K private loan one year early. This will save the club $1K in interest payments for the 2014-15 fiscal year. There is a long list of replacements and repairs are on the to-do list; the 20 windows with broken seals are on schedule to be replaced, the 250 watt bulbs in the poolroom are scheduled to be replaced with LED lights, and the doors and hardware to the patio and the back exit door are our next priority.
The club has business loan with Cashmere Valley Bank with a balance of just under $560K by the time of the annual meeting.
After paying off the private loan we will have $29K in the Reserve Checking and Reserve CD accounts and $10K in carry-over to start the 2014-15 fiscal year budget.
The value of the building and equipment is estimated to be more than $2 M.
Assessed value of the building by Chelan County: $1,687.77 at the end of 2013 and then we estimated the value to replace the equipment within the building.