Dear Members,
It feels quite surreal to be writing a communication to members of this nature.
Josh has communicated comprehensively below on operational changes at the club as they stand today. We are mindful of the impact that this will have on our employees. It is a worrying time for them and we are keeping them informed of developments as it relates to them as best we can as government directives are announced.
We are conscious that members will be concerned about the overall financial standing of our Club. We have an appropriate level of financial analysis of the Club’s financials and with our current funding arrangements we do not have an impending cash issue. However we are reviewing all operations to reduce operating costs and implementing various measures to both meet government requirements and protect cash.
The cash flow projections have been re-assessed against a backdrop of the economic downturn. From that analysis it was concluded that the project works across both the Stage 2 course and the major stage building plans will proceed. Any delays to these major project works could of course be affected by matters related to any coronavirus incident or government directive.
We will communicate again as circumstances change.
John Christophersen
President
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