Fairfield Glade Community Club Director of Finance Denise Dickinson reported on the club’s finances at the Jan. 23 Board meeting, stating that overall the club is still very strong financially. 

In the sewer financials, Dickinson reported sewer cash at about $2.2 million, property and equipment at just over $11 million and equity at $13.1 million. In the results from operating activities, she reviewed that sewer was positive $941,000, a nearly $167,000 positive variance to budget, due to a decrease in operating costs in labor and benefits, repair and maintenance costs and materials and supplies, while there was an increase in tap fees.   

For POA and amenities, Dickinson reported the results from operating activities were positive about$611,942, a positive variance of $611,817. Net capital income for POA and amenities was reported at positive $2.8 million, a negative variance to budget of about $55,000, due to lower than anticipated lot merger fees and a loss on the disposal of capital assets. Overall cash flow of POA and amenities combined was reported by Dickinson at a positive $597,762, including capital income, capital expenditures and debt service. 

The results from operating activities for POA were positive $682,813, just over $443,000 positive variance to budget. Dickinson’s report noted the net cash flow for POA to be positive $2.9 million. 

For amenities, the results of the operating activities was negative $70,871, a positive variance to budget of $168,642. Amenities net cash flow was said to be negative $2.3 million for the period.

The food and beverage subsidy was $472,198, a positive variance to budget of $78,366. Dickinson said the positive variance to budget was largely due to an increase in sales at Stonehenge and a reduction in cost of sales, wages and employee benefits for the division. 

Golf results from operating activities was at positive $700,458, a positive variance to budget of about $20,000. The results were reportedly due to an increase of revenue driven by improved weather conditions in 2019. 

Marina results from operating activities were reported at positive $162,627, a positive variance to budget of about $51,000, due to better weather in 2019 and increased revenue from the wine and cheese pontoon rides at St. George Marina. 

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