By Greg Ellison
(Sept. 23, 2021) Ocean Pines good financial performance in July and August has put the association roughly $1.1 million ahead of budget for the first four months of its fiscal year, OPA General Manager John Viola reported last Wednesday
During July, the association took in $254,000 more than budgeted in revenue, while spending just $23,000 more than budgeted, for a net improvement of $231,000.
Viola told the board of directors during its Wednesday session that “organic growth in revenues” from golf, aquatics, racquet sports and banquet operations in food and beverage were responsible for the gains.
On the departmental level, the Ocean Pines Yacht Club closed the month $79,200 ahead of budget, followed by golf operations at $77,400, aquatics at $29,500 and the beach club at $20,300.
Viola also reported strong revenue figures from banquets catered by food contractor Matt Ortt Companies.
“They’re knocking it out of the park,” he said.
Ending July in the red was the Recreation and Parks Department at $25,300 short of budget estimates.
Viola attributed the dip in Recreation and Parks receipts to timing.
“They will be on budget later this year,” he said.
Although full details on August’s performance aren’t available yet, Viola reviewed a “flash” report for the month that showed a positive variance against budget of $158,600.
Leading the pack for positive net operating figures last month was food and beverage at roughly $50,000, followed by aquatics at $41,400, public works/general maintenance at $36,400, police at $18,500 and golf at $12,100.
Viola also told the board that golf operations are about $220,000 favorable to budget through August, with significant revenue anticipated next April to close the fiscal year.
Other departments singled out by Viola for stellar financial performance were aquatics and food and beverage.
Through July, year-to-date figures for aquatics hovered $148,800 above estimates, while positive budget variances for food operations included the Yacht Club at $208,000, Beach Club at $70,000 and the Clubhouse Bar and Grille at $45,800.
“Revenue is heavy the first four to five months,” he said, and then expenses usually run higher later in the budget year, Viola said.