Total revenues were over budget by $412,282 and expenses were $47,542 under budget, according to the August financial report.
“Obviously, we’re pleased with where we are at this point in the year,” General Manager John Viola said. “The Yacht Club continues to be a big part of our success, but Golf has also been a contributor, despite everything going on over at the course.
“The team continues to review all expenses monthly and looks to reallocate wherever we can to address headwinds,” he continued. “We are all committed to continuing this positive trend through the end of the year.”
During August, the Association posted a positive operating fund variance of $151,301, with total revenues over budget by $105,665 and expenses below budget by $45,636.
The Yacht Club provided a big boost for the month, with banquet sales $51,447 ahead of budget and regular sales $48,007 ahead, for a total net of $99,454.
Also contributing were Golf operations and maintenance, ahead by $23,832, Police, positive $15,492, and Recreation and Parks, positive $1,371.
Positive for the year are the Yacht Club ($155,112), Recreation and Parks ($58,401), the Beach Club ($45,733), Marinas ($41,335), Beach Parking ($37,981) Public Works ($36,661), Golf ($35,993), General Maintenance ($25,663), Finance ($23,996), Manager’s Office ($19,579), General Administration ($9,948), Pickleball ($6,678), Police ($4,951) and the Tern Grille ($3,659).
Only six departments – Aquatics, Public Relations, Compliance and Permits, Platform Tennis, Tennis, and Fire/EMS – were behind budget for the year as of Aug. 31. Four of those six departments broke even or better in August.
According to the latest financials, the total reserve balance as of Aug. 31 was $10.4 million, including roughly $6.4 million in replacement reserves, $2.7 million in bulkhead reserves and $1.3 million in roads.
To view the August financial report, visit: https://www.oceanpines.org/wp-content/uploads/2019/09/August-2019-Financials.pdf.