2009 Financial Summary
The Arden Swim Gild began the 2008-2009 season with $18,000 of start-up money verses $14,000 the prior year. Net income totaled $39,000 against a net expense of $44,000. This compares to net income of $49,000 and net expense of $44,000 for the prior year. The difference between the net income between 2008 and 2009 is largely due to reduced membership and reduced guest pass sales. Both of which can be attributed to the poor, rainy summer weather.
The Arden Swim Gild was able to keep expenses flat between the 2008 and 2009 seasons even with an increase in minimum wage and a longer swimming season. The Arden Swim Gild ended the 2008-2009 fiscal year with $13,000 and is in good financial health. In addition to the $13,000, the Swim Gild has $1,200 in savings and $1,200 in a fund dedicated for bathroom renovations, leaving the Swim Gild with a total of $15,400 of total assets. The Swim Gild has existing liabilities of $3,750, remaining from loan by the Arden Club, and a potential tax liability of $3,500.
The board and maintenance committee of the Swim Gild continue to improve the pool and it’s surroundings. In the last two years, volunteers have painted extensively, replaced the fence around the baby pool, installed a new 1 meter diving board, replaced the baby pool pump and filter, replaced the main pool pump, rebuild the lifeguard stands, installed 3 new steel benches, repaired and painted many of the existing benches, and repaired the tile work in both the baby pool and the main pool. For safety considerations, the maintenance committee also installed newly regulated anti-vortex drain covers, a vacuum release valve for the baby pool drain, which breaks the suction of the drain in case a child gets caught on the drain, and downed two trees which overhung the main sitting/picnicking area.
The board is hopeful to continue our work by beginning to upgrade the locker rooms. We are excited heading into the 2009-2010 swim season. Our focus will be to continue to attract new membership and thus, will continue to offer the discounts to families who refer new members. With a hot and sunny summer ahead, we all look forward to enjoying a wonderful time at the pool.