How things change and how quickly does it happen. I suppose we should have expected that somewhere along the way the Covid would strike again and it would be the bad one. For now, we are going to have to pause on some of the work we want to do – pathways, trees, tees – so as to ensure we have enough funds to pay wages, maintain the course adequately and make the second payment of debentures. Fortunately, we have made the first debenture payment and nearly finished the water main and Clubhouse toilets, and paid for them. And we still have money in the bank. If we move to Level 1 across NZ by the end of September, and stay there without interruptions until the end of the year, we will very likely be OK. We probably won’t be able to count on trans-Tasman visitors for some time; 6 months? 12 months? Impossible to tell. But a domestic market that can’t travel abroad is good for us. What we have learned is that we will need to build reserves, as we did last year, and be prudent with all our expenditures. Annual General Meeting Hopefully, members will be able to attend the AGM on the 15th September. We need 20 Full Playing Members to make a quorum. We look forward to seeing you there. Aside from the annual setting of subscriptions, there are two further motions on the table. First is the proposal to increase the number of board members elected at the AGM from 4 to 5. Second, is the proposal to add an under-35 category of membership. Both these motions are changes to the Rules of the Club and therefore need a 2/3 majority. The exact wording of the motions will be circulated to members this week. July 2021 results While we booked what is in effect $35k of donations by way of waived interest and principal on debentures, we also recorded increased wages and unbudgeted refurbishment expense on the improved upstairs toilets. The full year’s insurance premiums were paid in July. August will be a very poor month. Revenue ceased from 18th August and will not resume until level 2 is reached, maybe 8th September. That said, domestic bookings are good – let’s hope they can get here to play. Financial results for July 2021 and the 1st month of the financial year to 30 June 2022 $’000 | July 2021 | 1st month to 30th June 2022 | | Actual | Budget | Last year | Actual | Budget | Last year | Revenue | 109 | 107 | 66 | 109 | 107 | 66 | Cash Expense | 141 | 125 | 83 | 141 | 125 | 83 | Surplus before depreciation | (32) | (18) | (17) | (32) | (18) | (17) | Good golfing. Athol Stephens - Chairperson |