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3/1/2014 11:12:11 PM

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Section 5: OPA Board
Subject: COPE Golf Petition? Msg# 879175

From:

Tom Hemmick

Joined 7/21/2005

To: All

Thanks Marty for the very thorough, detailed explanation. I'm hoping everyone will read your posting at Msg# 879146

So I'm hoping that all folks here will see the bigger picture, looking well beyond anyone's attempt to continue low-balling golf's financial impact. All can now see its well beyond just the $64 figure.

And as you've said, adding in CAPITAL would take some detailed analysis efforts, and would raise golf's financial impacts even higher than the range of $113.34 within everyone's annual assessment as you've mentioned. And this $113.34 is based on the recent audited figures

And I'm remembering postings earlier that those capital drainage costs are very significant, in the millions $$$. Another reason its unrealistic to be low-balling

Tom

For reference, the above message is a reply to a message where:
Carol:

You believe whatever you want to believe and please do not allow me to confuse you with the simple facts. Have you no rudimentary understanding of business economics?

Here is the bottom line profit/loss number for our golf operation from our audited statement for 2013:

-$536,901.00, or approximately $63.57 per assessment.

Our assessment also included depreciation in the amount of:

$420,392.00, or approximately $49.77 per assessment.

There was also some crazy capital expenses like drainage and new greens that would take a great deal of my time and effort to calculate and I have no intention of doing so. The audited amount comes to a approximate total per individual assessment amount for golf of: $113.34 plus the capital.

Carol, should you want any further information with regard to the numbers please feel free to go to the oceanpines.org and look for yourself.

Marty

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