by Corona Man » Wed Apr 13, 2016 10:59 am
Thought this was of some interest and this thread was the best spot for it - mods please move if this is incorrect.
From the Mount Barker Courier.
The Mount Barker-Hahndorf Golf Club is under "financial stress" after a hike in administration costs and a drop in membership, causing the towns council to take over part of the club's finances.
The club's former treasurer, said the club had lost up to $150,000 over 12 months after an $80,000 increase in administration (WTF) costs combined with a 10% decline in membership renewals.
The Mt Barker council confirmed it was now preparing the golf club's financial reports...
The club lost 56 of its 500 members last financial year.... and another 140 members had not renewed their memberships as of March 2016.
The former treasurer said that the club was also still paying off $484,000 mortgages which have been outstanding for over 20 years. The club also pays $6,000 per month to the tax department after "getting behind on our GST".... good job, the former club manager was an accountant!
The Mt Barker golf club president dismissed any claims that the entire golf club would be handed to the council as a going concern.... The president had discussed the possibility of selling a section of the course, worth about $3m, to housing developers. Lost golf holes would need to be replaced on council-owned land on Bald Hills Road, alongside the planned $32m sports hub which is planned.
Mt Barker Council infrastructure spokesperson commented the golf club is an important community asset and we want to see that asset continue and prosper.
Last edited by
Corona Man on Wed Apr 13, 2016 11:25 am, edited 2 times in total.
1961, 1971, 1976, 1978, 1983, 1986, 1988, 1989, 1991, 2008, 2013, 2014, 2015.... And don't you forget it!