A MESSAGE FROM THE BOGEY HILLS FINANCE COMMITTEE

 

Thank you to our members who continue to enjoy and support Bogey Hills.  Through September we are on track for another record year of gross revenue at just under $8 million.  Our post 2017 strategy to build a much bigger and highly functional clubhouse to encourage more member dining, more outside weddings and outside corporate events is working as intended.

 

Our year-to-date profit margin of 4.86% is moving in the right direction, yet it is still meager for corporations with substantial debt and major capital expenditures on-going.

 

In 2024 over $440,000 has been invested in capital projects to enhance and maintain our club.  The largest investments were in a new audio & visual system throughout the clubhouse (necessary to attract weddings and corporate events), new golf course equipment (obviously put to good use) and new golf carts (much enjoyed by the members).  With over $19 million in total property, plant & equipment assets there are always expenditures to keep things up to date, fresh and appealing to members.  We feel Angel and her team do an excellent job at keeping Bogey attractive and inviting while prudently managing expenditures.

 

Angel and the senior leadership team are excellent; retention and motivation of them are important.  In the last two years we have introduced an IRA match program and life insurance benefits.  Also, base salaries have been kept flat to keep operating expenses down in exchange for larger bonuses tied to net earnings of the club; a win for them and the financial health of Bogey.

 

As we look forward to 2025, we will likely have capital spend in the $350,000 area, not including roughly $2.5 million spend to replace our 40-year-old golf equipment and maintenance shed and halfway house.

 

We currently have 345 golfing and 186 non-golfing members. Up a bit from last year, yet we still have room for more. To continue delivering the facility and the experiences you expect of the premier club in St. Charles the following price increases will occur across all membership classes effective March 1, 2025.

 

• 4.0% Dues Increase

• $10 per month Capital Dues Increase

 

Included with this letter is your 2025 Dues election form.  Please fill it out and return to Heather Schadt, Membership Director.

 

See you all at the Club and Thank You for helping keep Bogey the Premier Club in St. Charles.

 

 

Norman Eaker          Alan Honerkamp          Scott Hays          Tom Slater