We are pleased to report that in 2017 we managed to make some major capital improvements including remodeling the bathrooms and replacing the boiler without going into debt or raising membership fees. This was no small feat since we have historically operated on a zero cash basis (meaning we break even). We re-examined our financial situation and focused on decreasing spending and waste in order to make the needed improvements.
A number of things that kept the pool out of debt:
- Increase in new membership & initiation fees.
- Decrease in administrative spending including charging a credit card fee to those that used them.
- Renegotiated rental agreements.
- Changes to items that were costing us money, for example, after hours pool rentals.
- Member donations through Go Fund Me. (Thank you to all who gave!)
- Slightly reduced pool hours in August, our historically slowest month.
- Better negotiated prices on chemicals.
- Pool rentals in the off time/season to capture more revenue.
- Minimal increases to property taxes due to our protesting.
We are are currently working on showing positive cash flow annually to insure we have money set aside for future improvements, and to open other sources of funding when necessary.