In this episode of Board Chats with
Peter Nanula from Concert Golf Partners,
we delved deep into the financial operations of private clubs,
highlighting the crucial role of financial forecasting.
We emphasized the necessity of a base case financial forecast
and the importance of having phased capital projects
to avoid potential fiscal pitfalls.
Peter underscored common mistakes made by
private clubs, including over-borrowing and misappropriation of funds,
which could lead to unexpected member assessments.
Additionally, we addressed the importance of proper budgeting to avoid these scenarios.
Finally, we discussed the role Concert Golf Partners can play in providing valuable consultation and potential solutions for clubs facing these issues.
Visit the Concert Golf website to learn more about their boutique approach to private club management, and be sure to connect with Peter Nanula on LinkedIn