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Committee discusses operating budget drivers: dues, APF role, golf fees and a proposed 4% merit pool
Summary
Committee reviewed operating budget assumptions ahead of April recommendations, including how member dues and APF fees feed reserves, golf fee adjustments to shift revenue toward nonmembers, and a proposed 4% merit pool for staff compensation.
Director Christine Novello framed the committee’s task: the March 18 meeting is the penultimate review before the committee formulates formal recommendations on the operating budget at its April 1 meeting.
Cliff, a staff member, reviewed the operating plan and explained how dues, asset preservation fees (APFs) and reserve allocations interact. "This speaks to why it's so important when we put a budget together that we look at member dues because member dues are guaranteed," Cliff said, describing dues as a stable revenue source compared with weather-dependent revenue such as golf and events. Cliff and other presenters explained that the budget sets aside a reserve fund allocation (7.5% in current practice) from dues plus APF inflows…
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