MCC Board Book April 2022

Board
Meeting

April 28th, 2022

Agenda

AGENDA FOR BOARD OF DIRECTORS MEETING
MARIETTA COUNTRY CLUB

Thursday April 28th, 2022

1. President’s Report – Mark Kenline
A. Approval of March Board Minutes

2. Treasurer’s Report – George Shultz
A. Financials
B. Capital Funds Status Report
C. Capital Request
1. Tennis Landscape

3. Long Range Planning Report- Frank Howard

4. General Manager’s Report – Daniel Laterza
A. Staff Updates
B. Construction Updates

5. Membership Report – Mark Kenline
A. Membership Requests
B. Waitlist Recommendation

6. Committee Reports-
A. House- Mark Tackett/David Bottoms
a. Laptop Policy
b. Pool Pavilion Name
No Action Necessary
B. Grounds- Al Martin
C. Golf- Christian Raynor
D. Tennis – Dave Henion

7. Old Business

8. New Business

9. Adjourn

Board
Minutes

Marietta Country Club, Inc.

Board of Directors
Minutes for the Meeting held on Thursday March 24th, 2022

Present: Dina Dlugos- Communications/IT Chair
Mark Kenline – President Daniel Laterza-General Manager
Steve Teel – Secretary Karen Blinkhorn-Controller
George Shultz – Treasurer
Stacy Haubenschild – President-Elect

Frank Howard-Past President
Christian Raynor – Golf Chair
David Henion – Tennis Chair
Al Martin – Grounds Chair

David Bottoms- House Chair

Absent:
Mark Tackett- House Chair

President Mark Kenline called the Meeting to order at 5:30PM

Approval of Minutes
The past Board Minutes from February 24th, 2022 were submitted for approval.
D Bottoms motioned to approve the minutes as outlined above, S. Haubenschild seconded, and the Board
approved unanimously.

President’s Report:
M. Kenline mentioned the Nominating Committee will send out the BOD application email on 4/1. Please send
any name that would be a good candidate to serve on the committee. Has to be two equity members in good
standing and has served on a committee over the last five years.

Treasurer’s Report – G. Shultz presented
The Operating Financials and Balance Sheet are also attached.

Proforma Cash Flow
a) Our August 2022 Y/E Projected P&L Income is $1,206,009 which includes ERC of $758,812. For

Comparison without the ERC the Projected P&L Income is $447,198 compared to a budget of $376,497
for a $70.701 positive variance.
b) Our August 2022 Y/E Projected cash balance is $3,237,472 against a budget of $1,601,991.
i) Qtr. 2 2020, Qtr 3 2020, and Qtr. 4 2020 Retention Tax Credit received in the amount of

$758,812.
ii) We have Qtr. 1 2021 still outstanding and are not forecasting receipt of this credit in our forecast.
c) Our Cash Forecast for August 2023 is $2,893,254.

Capital Budget Spend
d) Current year Capital spend through February is $919.558. The combination $371,010 of Capital Dues

and $647,648 of Initiation fees through February is $1,018,658.
e) Our Capital Budget is $1,187,500 plus prior year approved projects of $349,646 for a total Budget Cash

outlay of 1,537,146.

B1

f) Our Outlook Capital Budget Spend for the year is $1,250,918 and our Outlook Prior year Capital Budget
Spend is $404,352 for a total of $1,655,270.

Capital Request
g) MVL Dishwashing – Budget $4,000 – Requesting $4,300. Replacement for defective unit.

Motion out of finance. F. Howard seconded. All approved unanimously

Balance sheet and P&L Review
h) Balance Sheet

i) The month ending February balance in Operating Cash is $1,376,015 a decrease from prior
month of $368,847. $528,359 of operating cash representing Sept – Jan Initiation fees was transferred
to Coastal States Bank MM account.

ii) The month ending February Cash balance with investments is $4,978,118 compared to last
month of $5,279,235 a decrease of $301,117.

iii) The month ending January Long term debt was $7,900,441.
i) P&L

i) Net Operating Loss for the month of January is ($7,662) compared to a budgeted Net Operating
Loss of ($22,166) a positive variance to budget of $14,504.

ii) P&L YTD is a $149,983 (after reducing by ERC) compared to a budgeted Net Operating income
of ($7,189) a positive variance to budget of $157,172, There is a negative variance to last year of
($185,290) and negative variance to January 2019 of ($283,087).

MVL/Men’s Grill/Grill Schedule
iii) The YTD Revenue for February 2022 is $1,179,656 an increase over prior year of $57,949. In
2019 YTD Revenue for February 2019 was $902,599.

iv) YTD Net for February 2022 is $293,064 a decrease over prior year or $($36,777). In 2019 YTD Net for
January was $202,885.

Membership Committee Report – M. Kenline
The Committee Minutes were presented for review.

PROPOSED CANDIDATES FOR POSTING CLASSIFICATION SPONSOR
Ryan Black Sport & Social-WL Greg Nesmith
Roger Bolin*See request for Legacy Sport & Social-WL Terry Pendley
Ben Finger Sport & Social-WL Scott Wottrich
Wendy Williams Sport & Social-WL John Wetmore

Motion:
The Membership Committee presents this slate for approval, S. Teel seconded, and the Board approved
unanimously.

B2

The following Member conversion requests were presented:

CONVERSIONS CURRENT CLASSIFICATION REQUESTED
Equity Golf (paid last installment)
2536 Zack Brooks Pre-Equity Golf Senior Equity Golf (per Bylaws)
Senior Equity Golf (per Bylaws
727 Robin Burruss Equity Golf Corporate Golf (original classification)
Equity Golf (paid last installment)
720 Tim Cauthorn Equity Golf Equity Golf (paid last installment)
Senior Equity Non-Resident (per Bylaws)
1954 Jason Fischer (changed mind since Feb) Pre-Equity Golf Equity Golf (paid last installment)
Pre-Equity Golf (age revision for dues)
2420 Justin Harris Pre-Equity Intermediate Golf

2187 Matthew Hooper Pre-Equity B Golf

797 Jim Johnson Equity Non-Resident

2297 Tom Kazmierski Pre-Equity Golf

2548 Matthew Mileski Pre-Equity Intermediate Golf

Motion:
The Membership Committee presents this slate for approval. The BOD recognizes the conversions and
reinstatement.

The following proposed members that were approved for posting last month and have been approved for
membership to begin April 1, 2022.

CANDIDATES COMPLETED POSTING PERIOD CLASSIFICATION SPONSOR
2687 Andrew Bolin Sport & Social-WL Joe White
2688 Ryan Droege Sport & Social-WL Mark Droege
2690 Steve Puckett Sport & Social-WL Terry Pendley
2691 Katherine Matthews Stutler Sport & Social-WL Charles Matthews
2692 Dr. Devender Reddy Sport & Social David Swales
1651 Rhonda Small Sport & Social Gregory Tatum

The following resignation notifications were presented.

RESIGNATIONS CLASSIFICATION REASON
2269 Norm Hansen Leave of Absence (General Social) Health issues
2635 Darrell Martin Sport & Social No longer uses Club

The Board of Directors recognize the new members and resignations.

Leave of Absence:
None

• Golf Waiting List Clearance:
The membership made a motion to allow 7 members off the golf waiting list. The BOD did not
second the motion. D. Henion made a motion to allow 1 member off the golf wait list based on the
two for one policy in place. C. Raynor seconded and the BOD approved unanimously.

Mr. Kenline asked that a sub committee be put together with a combination of BOD and
Membership Committee Members to discuss a better solution to the golf waiting list and also the
start of a true member waitlist.

• Steve Cole, an Equity Golf Member, requested a Non-Resident Status that does not meet the Club Bylaw
description. In his letter, he states the majority of his time is being spent out-of-town at several other

B3

residences that he owns. However, his “primary residence” at this time is still considered his Marietta
home.
Membership made a motion not to approve, D. Bottoms seconded, and BOD approved
unanimously.

• Charles Kilgore, Senior Equity Golf, requested to transfer his Equity membership to his wife, Delinda
Kilgore.
Membership made a motion to approve, D. Bottoms seconded, and BOD approved unanimously.

• The BOD discussed Jon Hatcher and Jason Meyers and the LOA Policy Change. S. Teel made the
motion to keep them both on the old LOA policy, D. Bottoms seconded. The BOD approved
unanimously.

• Membership made a motion to recommend that the General Golf Members be offered the same
opportunity to upgrade their membership classification that was offered to the Corporate Golf
Members. They would be able to pay the difference from what they originally paid upon joining as
a General Golf Member and the Equity Golf initiation fee that was in effect at the time that they
joined the Club to become an Equity Member. They would be able to take advantage of this
upgrade until December 31, 2022.

A Martin seconded the motion, and the BOD approved unanimously

• Membership made a motion to approve Andrew Bolin pre-pay his Equity Membership in full at
this time ($50,000) so his father Roger Bolin can have legacy status when approved for
membership.

D. Bottoms seconded the motion, and BOD approved unanimously.

House Committee Report – D. Bottoms
The Committee Minutes were presented for review.
Motion out of House committee for the Grille Room to change to 1915 Grille Room.

A Martin seconded, and all approved unanimously

Grounds Committee Report – A. Martin
The Committee Minutes were presented for review.

Golf Report – Christian Raynor
The Committee Minutes were presented for review.

Tennis Committee Report – David Henion
The Committee Minutes were presented for review.

General Manager’s Report – D. Laterza
Pool Pavilion still on track for completion date of 5/6.
Still seeing some delays in bar equipment.

B4

Old Business
None
New Business
Mr. Bottoms asked about a strategic planning retreat. The BOD will review this idea.
Mr. Shultz mentioned that an audit committee should be formed.
Adjournment
There being no further business; the Meeting adjourned at 7:14PM
Respectfully submitted,
Daniel Laterza, CCM
General Manager

B5

Finance
Minutes

Marietta Country Club
Finance Committee Minutes

April 27, 2022

Attendees: Shultz, Kenline, Howard, Henion, Tackett, Allen, Booker, Bradford, Dunn, Hendrixson, Lako,
Moore, Whittingham, Laterza, and Blinkhorn

I. Review and approve prior month minutes. Approved

II. Proforma Cash Flow
a) Our August 2022 Y/E Projected P&L Income is $1,190,943 which includes ERC of $758,812. For
Comparison without the ERC the Projected P&L Income is $432,132 compared to a budget of $376,497
for a $42,935 positive variance.
b) Our August 2022 Y/E Projected cash balance is $2,727,919 against a budget of $1,601,991.
(i) 3 of 4 Qtrs. of ERC have been received in the amount of $758,812.
(ii) We have 1 Qtr. of ERC outstanding and have not included that amount in the forecast.

III. Capital Budget Spend
a) Current year Capital spend through March is $921,554. The combination $432,810 of Capital Dues and
$821,748 of Initiation fees through March is $1,254,558
b) Our Approved 2022 Capital Budget is $1,187,500 plus prior year approved projects of $349,646 for a
total Budget Cash outlay of 1,537,146.
c) Our Current Outlook Capital Spend is $1,247,214 and our Outlook Prior year Capital Spend is
$404,352 for a total of $1,651,566. The combinations of $737,810 of forecast Capital Dues and
$1,155,081 of forecast Initiation Fees for year-end 2022 is $1,892,891.

IV. Capital Request - Budgeted – Carry over from prior month - Seating Area new Restroom – Budget $50,000
– Requesting $50,500 to finish the area around the Tennis Restrooms. The quotes requested are attached and
are for $51,827. We can reduce the plants to stay within the original request of 50,500. Finance Committee
recommends the Board approve the $51, 827 amount based on the quotes.

V. Balance sheet and P&L Review
a) Balance Sheet
(i) The month ending March balance in Operating Cash is $1,547,255 an increase from prior month
of $171,240. $647,648 of operating cash representing Sept – Feb Initiation fees was transferred to
Coastal States Bank MM account.
(ii) The month ending March Cash balance with investments is $4,421,187 compared to last month
of $3,602,103 a decrease of $728,172.
(iii) The month ending March Long term debt was $7,883,296.
b) P&L
(i) Net Operating Income for the month of March is $91,123 compared to a budgeted Net Operating
Income of $23,936 a positive variance to budget of $67,187.
(ii) P&L YTD is a $241,107 (after reducing by ERC) compared to a budgeted Net Operating income
of $17,447 a positive variance to budget of $223,660, There is a negative variance to last year of
($177,264) and negative variance to March 2019 of ($266,332).

VI. MVL/Men’s Grill/Grill Schedule
(i) The YTD Revenue for March 2022 is $1,440,137 an increase over prior year of $78,585. In 2019
YTD Revenue for March 2019 was $1,092.556.

(ii) YTD Net for March 2022 is $373,206 a decrease over prior year or $($33,568). In 2019 YTD Net for
March was $263,896.

VII. Board Summary – See attached Variances.

VIII. Old Business TIPS Funds Options – Treasury Inflation-Protected Securities -The principal of a TIPS increases with

inflation and decreases with deflation, as measured by the Consumer Price Index. When a TIPS matures, you are paid the
adjusted principal or original principal, whichever is greater.

a) TIPs Fund Options – please see attached
b) M’Star Ratings – please see attached
c) M’Star TIPs Annual Returns Comparison – please see attached
d) M’Star TIPs Total Return Compaison

It was discussed that a TIPS Fund should be added and based on the M’Star ratings the American Funds
Inflation Linked BD R6 fund was selected. Karen will communicate with Robert Elder to have the fund
added to the 401k plan.

IX. New Business – None
There was a general discussion regarding the budgeting process being on track and the assumptions of 6%
dues increase and 5% payroll increase were going to be used as a basis for the 1st look at the budget.

FINAL

MARIETTA COUNTRY CLUB A Year End Projected Year End 21/'22 Final Year End
Cash Management Year End Actual Actual/Budget/Forecast Budget Forcast
21-'22 22-'23
Cash Management - Master Budget Actual 20-'21 21-'22
19-'20 6,138,439 400,000
OPERATIONS - NET 5,959,661 6,156,531 101,842 400,000
Dues 5,787,131 142,246 875,605 (742,567)
Other Income 152,354 (614,645) (705,860) (359,485) 800,000
Repairs & Maintenance (597,226) (338,118) (342,493) 222,450 (200,000)
Utilities (316,426) 426,257 267,748 (61,438)
Golf Shop & Carts 157,014 (43,650) (60,757) (325,987) 0
Swimming Pool (59,914) (293,674) (299,830) (4,157) 169,000
Tennis (243,750) (178) (7,049)
Locker Rooms 23,665 (1,837,270) 15,000
Grounds (1,628,762) (1,788,444) (645,395) 784,000
Food & Beverage (1,505,220) (528,180) (882,013) (45,000)
General & Administration (603,583) (1,441,601) 732,000
Taxes, Interest & Insurance (1,541,914) (1,363,489) (377,275) 1,471,000
(1,454,705) (392,143) (365,825) (212,719)
Dues increase in Oct 2019 (333,987) (291,059) (150,000)
P/R Increase and New Postion (305,062) (293,181) 376,497
loan Interest (320,751) 841,838 1,190,943 (3,500)
Income/(loss) after Interest 684,602 376,497 (3,000)
841,838 1,190,943
Operations net 684,602 800,000 (369,219)
1,313,091 1,155,081 (1,536,800)
CAPITAL REVENUE 1,492,662 (414,593) (223,541) (200,000) (1,906,019)
Initiation Fees (less insurance if applicable) (340,872) 0 327,978 0
Imitation Fees billed not paid (682,225) 399,961 13,880 (435,019)
Initiation Fee Deferrals 0 12,864 248,000 (35,019)
Installment write offs 275,401 1,273,398 15,000
Initiation Fee Installments 44,875 1,311,323 (85,400) (800,000)
Interest Income 789,841 (50,325) 737,810 863,000
Total Initiation Fees (99,560) 433,713 (45,000) (835,019)
Equity Refunds 344,572 1,925,808 732,000
Capital Charge 1,694,711
1,034,853 (202,344) 1,550,000
TOTAL CAPITAL REVENUE - NET OF REFUNDS (319,237) (144,418)
(335,497) (158,561) (205,536)
PRINCIPAL & LEASES (140,609) (6,956) (150,000)
Loan Principal (7,469) (3,727)
Golf Course Equipment (1,129) (2,065) (3,500)
Tractor (7,099) (357,445)
Aerator (2,794) (487,332) (1,651,566) (3,000)
Copier (1,102,304) (2,009,011)
Beverage Carts (487,128) (1,589,636) (362,036)
Leases (83,202)
Total Principal & Leases - 105,075 1,107,740 (1,547,139)
(487,128) 946,913 (1,909,175)
Total Capital Expenditures (1,155,081)
TOTAL PRINCIPAL & LEASES / CAPITAL EXPENDITURES 547,725 (210,000) (758,812) (359,175)
(11,063)
NET CAPITAL 1,232,327 (11,345) 17,322
(817,216)
NET CASH FLOW - OPERATIONS & CAPITAL (360,000) 725,568 (9,600)
255,082
INCREASE IN LOAN VALUE 17,322
Less Capital Charges to Dedicated Investments (567,821)
Less Operations Cash to Dedicated Investments 944,288 1,931,242 1,931,242 1,114,026
Operations from Dedicated Investments 1,390,043 261,386
Less Initiation Fees to Dedicated Investments 725,568 (817,216) 17,322 (835,019)
Less ERC to Dedicated Investments 122,066 1,114,026 1,948,564 279,008
Less Interest earned on Dedicated Investments 1,931,242 Projected Year End 21/'22 Final Year to Date
(567,821) Year End
CHANGE IN NET CASH FLOW - OPERATIONS & CA
944,288
CASH FLOW
Year End
BEGINNING CASH - SEPTEMBER 1ST

Net Change in AR/AP

CHANGE IN NET CASH FLOW FROM OPERATIONS & CAPIT

ENDING OPERATIONS & CAPITAL CASH

CASH FLOW DEDICATED INVESTMENTS

Year End Year End
Forcast Forcast

23-'24 24-'25

400,000 400,000
400,000 400,000

800,000 800,000
(200,000) (200,000)

0 0
150,000 150,000

15,000 15,000
765,000 765,000
(45,000) (45,000)
732,000 732,000
1,452,000 1,452,000

(220,099) (227,846)
(150,000) (150,000)

(3,500) (3,500)
(3,000) (3,000)

(376,599) (384,346)
(1,158,500) (1,000,000)
(1,535,099) (1,384,346)

(83,099) 67,654
316,901 467,654

(800,000) (800,000)

(483,099) (332,346)

279,008 (204,091)

(483,099) (332,346)
(204,091) (536,437)
Year to Date Year to Date

FINAL

MARIETTA COUNTRY CLUB Year End Year End Projected Year End 21/'22 Final Year End
Cash Management Actual Actual Actual/Budget/Forecast Budget Forcast
19-'20 20-'21 21-'22 22-'23
Cash Management - Master Budget Actual Actual 21-'22 Budget Forecast
19-'20 20-'21 Actual/Budget/Forecast 22-'23
Plus Capital Charges to Dedicated Investments 360,000 2,853,427
Plus Operations Cash to Dedicated Investments (255,082) 221,484 21-'22 2,713,893
(3,200,000) 2,992,901
Project - Amount to spend Pool Kitchen $123k spent prior year 2,622,343 2,843,827 (300,000)
1,601,991 7,581,745
DEDICATED INVESTMENTS 3,671,549 4,996,553 1,913,893 7,794,464
Coastal States Bank MM for Initiation Fees/ERC 8,245,264 8,000,000 2,727,919

Ending Total Cash including LT Investments 7,794,464
OUTSTANDING PRINCIPAL

Year End Year End
Forcast Forcast

23-'24 24-'25
Forecast Forecast

23-'24 24-'25

3,513,893 4,313,893
3,309,802 3,777,456

7,361,593 7,133,747

Marietta
Captial S

Board Discretionary
Add Board Discretionary - red by $65k for Ten Rstrm
Unbudgeted - Emergency Cap - Priority Pump for irrigation To Shultz 1/21/2022

House
Unbudgeted - Audio/Visual Solution for Clubhouse - Board approve 1/27/2022
Unbudgeted - Audio/Visual Solution for Outdoor - Board approve 1/27/2022
K Harris - Men's Grill/Card Room Carpet and Repair - Board approve 7/22/2021
K Harris Entry/Foyer/Rotunda/Hallways/Restrooms - Board approve 7/22/2021
New Cameras and Equipment - Board approve 8/26/2021
Service Elevator - 30 yrs old - Board approve 9/23/2021
MVL Dishwasher - replacement - Board approved 3/24/2022
New Banquet Podiums Qty 2 - Board approve 1/27/2022
New Grille China - Board approve 9/23/2021
Silverware Grille - Board approve 9/23/2021
New Chafers - Board approve 2/24/2022
AV Solution for Men's Grill - Board approved 8/26/2021
AV Solution in MVL

Kitchen
Refrigerator #21 Upstairs kitchen - replacement - Board approve 10/21/2021
Downstairs Grill Range - Board approve 10/21/2021
Compressor for Upstairs Walk in Cooler
Volrath cryovac 40833 - Board approve 1/27/2022

Pool

Spare Motor
New Filters ( 1) 3000 for each filter
Replace Diving Boards
Main Pool and Kiddie Pool Cover

Tennis/Fitness Center
Stringer Machine
Shop Patio Seating area repair resling and powdercoat
Seating area near Restroom - to Finance Committee 3/23/2022
LED lighting for all other courts - Qty 9 - Board approve 10/21/2021

Country Club
Spend '21/22

Budget Outlook Approve by Board Spent
FY'22 FY'22 FY'22 FY'22
150,000 74,700
10,298 10,300 10,298
Total 150,000
FY'22 84,998 10,300 10,298
FY'22 FY'22 FY'22
Total 35,000 141,000 141,000 93,570
Total 150,000 10,000 10,000
Total 70,000 26,577 35,000 26,577
Total 125,000 177,180 150,000 177,180
70,000 70,000 48,917
4,000 133,000 133,000 68,240
24,000 4,300 4,300
12,700 12,000 12,000 5,008
5,400 12,000 12,000 14,131
31,900 5,800 5,800 5,372
26,000 31,900 10,000
22,000 29,185 26,000 29,185
506,000
FY'22 0 609,100 468,179
3,000 652,942 FY'22 FY'22
10,000 2,552 2,705
9,000 FY'22 8,480 8,480
6,000 2,705
28,000 8,480 7,200 7,060
FY'22 9,000 18,231 18,244
3,000 7,060 FY'22 FY'22
3,000 27,245
10,000 FY'22 0 0
18,000 3,000 FY'22 FY'22
34,000 3,000
FY'22 108,000 108,000
4,000 18,000 108,000 108,000
20,000 24,000
50,000 FY'22
108,000
182,000 0
20,000
50,500
108,000
178,500

Golf Maintenance
New Tee Markers - to finance Committee 2/23/22
New Greens Rollers - Board approve 10/21/2021
Cart Path Repairs and Teaching Center Steps Combined - Board approve 1/27/2022
Boulders for stream bank reinforcement #13/#17
Drainage Improvements - Board approve 1/27/2021
Tables and Chairs for Grounds Breakroom

Golf Shop
Teaching Center Steps combined up with Cart Path - See above
Equip for Club repair center

Gen & Admin
IT Upgrades
3 Fire Proof Filing cabinets for History
Communication Enhancements - Tech Equip and Software

Laundry
Washing Machine qty 2 and Dryer Qty 2 - Board approve 11/19/2021

Carry Over from 2021
Fire Panel and drawings - to Fin Com 3/23/21 and 4/20/21 - Approved
Capital Reserve Study - Approved 7/6/2021 Budget Review
Prior Year Carry Over - Tennis Restrooms plus 65k approved 9/23/21
John Deere Tractor to Fin Com 4/20/21 - approved
Teaching Center Awnings - balance due
#14/#16 Project - August in September - added since budget approval

Total Captial Spend

FY'22 FY'22 FY'22 FY'22
10,000 17,800 17,800
38,000 46,000 46,000 56,313
2 60,000 56,313 60,000
40,000 40,000 56,313
50,000 50,000 50,000 FY'22
3,000 3,000
Total 201,000 213,113 173,800 0
FY'22 FY'22 FY'22 FY'22

Total 4,500 0 0 0
Total 4,500 0 FY'22 FY'22
FY'22 FY'22 46,416
15,000 15,000
12,000 46,416
5,000 5,000 0
32,000 20,000 FY'22 707,451
FY'22 FY'22 47,000
50,000 46,416 Spent
FY'22
Total 50,000 46,416 47,000 30,017
11,475
Grand Total 1,187,500 1,247,214 966,431 96,185
53,829
Budget Outlook Approve by Board 3,996
FY'22 FY'22 FY'22 18,600
33,700 30,017 33,700
16,025 11,475 16,025 214,102
221,435
50,782 286,435 286,435
2,704 53,829 50,782
25,000 3,996 2,704
18,600 25,000

Total Carryover 349,646 404,352 414,646

1,537,146 1,651,566 1,381,078 921,554

Capital Dues 732,000 737,810 432,810
Initiation Fees 800,000 1,155,081 821,748
1,532,000 1,892,891 1,254,558
Total













FINAL Marietta Country Club 1:17 PM1:17 PM
COMPARATIVE BALANCE SHEET - March 2022

This Month Last Month Last Year

ASSETS 702,606
807,925
CASH
(7,712)
Cash - Operating 741,772 579,674 1,502,819

Cash - Money Mkt 808,640 808,606 2,779,469

Cash - Other (3,157) (12,265) 4,282,288

Total Operating Cash 1,547,255 1,376,015 1,086,885
1,316,993
Cash - Short Term Invest 2,873,931 3,602,103
5,899
TOTAL CASH 4,421,187 4,978,118 (43,838)
2,365,939
A/R - Members 1,408,715 1,304,378
A/R - Initiation fees 1,071,764 1,081,892 432,219
A/R - Other 109,028
Allowance for doubtful 6,263 6,613
NET A/R (54,434) (53,834) 38,116,733
2,432,307 2,339,049 (27,519,883)

Inventory 438,829 444,945 10,596,850
Prepaid expenses 152,137 129,614
17,786,325
Fixed Assets 40,803,105 40,480,272
Less: Acc depreciation (28,506,922) (28,080,637) 223,385
NET FIXED ASSETS 100,603
12,296,183 12,399,635 418,903

TOTAL ASSETS 19,740,642 20,291,361 14,665
400,628
LIABILITIES AND MEMBERS' 193,206 645,575 496,896
CURRENT LIABILITIES 97,932 96,093
A/P - Trade 12,000
A/P - Other 303,109 314,937 265,000
Curr pymts leases/loans 44,318 33,876 1,932,080
Taxes payable
Accrued expenses 389,245 364,874 277,545
Deferred revenue - dues 509,371 510,222 7,696,847
Deposits on Future Event 7,974,392
Deferred Init Fees - Len 32,886 30,886
265,000 265,000 26,657,549
1,835,068 2,261,464 114,668
12,385
LOANS AND LEASES 127,356 127,356 671,391
L/T Leases payable 7,677,761 7,694,906 (47,200)
L/T Pymts UCB Loans 7,805,117 7,822,262
(18,665,622)
MEMBERS' EQUITY 27,920,315 27,920,315 (863,318)
Members' equity 432,810 371,010
Capital Dues - - 7,879,853
MVL Cap Chrg 821,748 647,648
Init fees - current yr (66,650) (59,150) 17,786,325
Equity refund - current
Retained Earnings(def) (18,725,921) (18,725,921)
Current yr profit/loss (281,844) 53,733

10,100,458 10,207,635

TOTAL LIABILITIES AND EQU 19,740,642 20,291,361

Final

This Month This Month Variance Actual Marietta Country Club
Bud-Act Last Yr Summary Income Statement - March, 2
Actual Budget
2,864 495,263 Var to
512,269 509,405 1,949 11,214 Last Yr
11,990 10,041 7,133 87,084
92,475 85,342 REVENUE
0 219 0 17,006 MEMBERSHIP DUES
219 3,450 2,075 4,385
5,525 4,730 4,571 775 OTHER INCOME
4,710 (20) 156,995 5,391 GOLF SHOP & CARTS
191,607 171,509 20,098
759,512 219 SWIMMING POOL
34,317 1,140 TENNIS

139 LOCKER ROOMS
34,612 FOOD SERVICE

818,794 784,477 59,282 Total

(62,284) (61,453) (831) (47,643) (14,641) DEPARTMENTAL EXPENSE
(22,174) (28,300) 6,126 (28,126) 5,952 REPAIRS & MAINTENANCE
(84,894) (82,896) (1,998) (67,107) UTILITIES
(5,270) (4,400) (870) (1,140) (17,787) GOLF SHOP & CARTS
(26,674) (31,820) 5,146 (24,955) (4,130) SWIMMING POOL
(6,854) (5,027) (1,827) (4,166) (1,719) TENNIS
(139,867) (154,808) 14,941 (125,808) (2,688) LOCKER ROOMS
(218,317) (223,735) 5,418 (216,659) GROUNDS
(109,627) (114,146) 4,519 (110,602) (14,059) FOOD SERVICE
(51,711) (53,956) 2,245 (50,209) (1,658) GENERAL & ADMINISTRAT
(426,700) (426,700) (426,690) 975 TAXES INTEREST & INSURA
0 (1,503) DEPRECIATION
(11)

(1,154,372) (1,187,241) 32,869 (1,103,104) (51,268) Total

512,269 509,405 2,864 495,263 17,006 MEMBERSHIP DUES
11,990 10,041 1,949 11,214 775 OTHER INCOME
(62,284) (831) (47,643) REPAIRS & MAINTENANCE
(22,174) (61,453) 6,126 (28,126) (14,641) UTILITIES
7,581 (28,300) 5,135 19,977 5,952 GOLF SHOP & CARTS
(5,051) (651) (1,140) SWIMMING POOL
(21,149) 2,446 7,221 (20,570) (12,396) TENNIS
(2,144) (4,400) (1,847) (3,911) LOCKER ROOMS
(139,867) (28,370) 14,941 405 (579) GROUNDS
(26,710) 25,516 (125,808) (2,549) FOOD SERVICE
(109,627) (297) 4,519 (59,665) GENERAL & ADMINISTRAT
(51,711) (154,808) 2,245 (110,602) (14,059) TAXES INTEREST & INSURA
(426,700) (50,209) 32,955 DEPRECIATION
(52,226) 0 (426,690) 975
(114,146) (1,503)
(11)
(53,956)
(426,700)

(335,577) (402,764) 67,187 (343,592) 8,014 Total

91,123 23,936 67,187 83,098 8,025 After add Back of Depreciation

- - - - - Less ERC
91,123 23,936 67,187 83,098 8,025 Total

4/27/20221:17 PM

2022 YTD YTD Variance Actual Var Prior
Actual
ES Budget Act-Bud Last YTD YTD
E
3,595,185 3,532,851 62,334 3,434,778 160,407
TIO 834,477 60,712 773,765 71,976 762,501
A 613,954 597,935 16,019 614,838
289 530 0 (884)
E 25,092 22,650 (241) 25,322 289
32,375 32,317 2,442 31,972
TION 959,746 (230)
AN 1,049,191 1,089,885 58 403
n (40,694)
89,445

6,150,564 5,336,880 813,684 5,138,632 1,011,931

(391,554) (438,057) 46,503 (342,249) (49,304)
(171,960) (188,950) 16,990 (174,741) 2,780
(537,803) (578,085) 40,282 (487,715)
(11,003) (50,088)
(173,987) (10,595) (408) (10,968) (35)
(36,037) (206,122) 32,135 (181,810)
(1,069,319) (1,595) 7,823
(1,584,956) (34,442) 55,705 (31,129) (4,908)
(801,861) (1,125,024) (86,862) (913,550) (155,769)
(372,165) (1,498,094) 56,710 (1,262,103) (322,853)
(1,281,763) 9,328 (929,425) 127,563
(858,571) (386,573) 14,408
(381,493) (3) (1,281,689)
(1,281,760) (74)

(6,432,408) (6,601,193) 168,785 (6,001,950) (430,457)

3,595,185 3,532,851 62,334 3,434,778 160,407
834,477 60,712 773,765 71,976 762,501
46,503 (49,304)
(391,554) (438,057) 16,990 (342,249)
(171,960) (188,950) 56,301 (174,741) 2,780
(50,972)
76,151 19,850 (649) 127,123
(10,714) (10,065) 34,577 (10,968) 254
(148,895) (183,472) (1,537) (156,489) 7,594
(3,662) (2,125) 55,705 (4,505)
(1,069,319) (1,125,024) (127,556) 843 (155,769)
(535,765) (408,209) 56,710 (913,550) (233,408)
(801,861) (858,571) 9,328 (302,357) 127,563
(372,165) (381,493) (929,425) 14,408
(1,281,763) (1,281,760) (3) (386,573)
(1,281,689) (74)

(281,844) (1,264,313) 982,469 (863,318) 581,474

999,919 17,447 982,472 418,371 581,548

(758,812) - (758,812) - (758,812)
241,107 17,447 223,660 418,371 (177,264)

Final

Marietta Cou
Comparision Income Statement

Actual Actual Actual 2022 v 2021 2022 v 2019

Mar-22 Mar-21 Mar-19 Variance Variance

512,269 495,263 463,585 17,006 48,684 REVENUE
11,990 11,214 12,974 776 (984) MEMBERSHIP DUES
92,475 87,084 77,047 OTHER INCOME
0 5,391 15,428 GOLF SHOP & CART
219 0 3,115 219 219 SWIMMING POOL
5,525 4,385 4,558 TENNIS
4,710 4,571 1,140 2,410 LOCKER ROOMS
191,607 156,995 142,644 139 152 FOOD SERVICE

818,794 759,512 703,923 34,612 48,963

(62,284) (47,643) (47,961) 59,282 114,871 Total
(22,174) (28,126) (28,408)
(84,894) (67,107) (78,671) (14,641) (14,323) DEPARTMENTAL EX
(5,270) (1,140) 5,952 6,234 REPAIRS & MAINTEN
(26,674) (24,955) (929) UTILITIES
(6,854) (4,166) (25,986) (17,787) (6,223) GOLF SHOP & CART
(139,867) (125,808) (4,130) (4,341) SWIMMING POOL
(218,317) (216,659) (5,649) (1,719) TENNIS
(109,627) (110,602) (119,987) (2,688) (688) LOCKER ROOMS
(51,711) (50,209) (164,321) (14,059) (1,205) GROUNDS
(426,700) (426,690) (111,445) (1,658) (19,880) FOOD SERVICE
(46,198) (53,996) GENERAL & ADMINI
(1,154,372) (1,103,104) (427,905) 975 TAXES INTEREST & I
(1,502) 1,818 DEPRECIATION
512,269 495,263 (1,057,458) (5,513)
11,990 11,214 (10)
(62,284) (47,643) 463,585 1,205
(22,174) (28,126) 12,974
19,977 (51,268) (96,914) Total
7,581 (1,140) (47,961)
(5,051) (20,570) (28,408) 17,006 48,684 MEMBERSHIP DUES
(21,149) 776 (984) OTHER INCOME
(2,144) 405 (1,624) REPAIRS & MAINTEN
(139,867) (125,808) (929) (14,641) (14,323) UTILITIES
(26,710) (59,665) 5,952 6,234 GOLF SHOP & CART
(109,627) (110,602) (22,871) 9,205 SWIMMING POOL
(51,711) (50,209) (1,091) (12,396) TENNIS
(426,700) (426,690) (3,911) (4,122) LOCKER ROOMS
(119,987) 1,722 GROUNDS
(335,577) (343,592) (21,676) (579) FOOD SERVICE
(111,445) (2,549) (1,053) GENERAL & ADMINI
91,123 (46,198) (14,059) (19,880) TAXES INTEREST & I
(427,905) 32,955 DEPRECIATION
- (5,034)
91,123 (353,535) 975 1,818
(1,502)
(5,513)
(10) 1,205

8,015 17,958 Total

83,098 74,370 8,025 16,753 Add Back Depreciation

- (225,631) (225,631) Less ERC
83,098 (217,606) (208,878)
74,370

4/27/20221:17 PM

untry Club YTD Act YTD Act YTD Act 2022 v 2021 2022 v 2019
t -February 2022, 2021, 2019 Mar-21 Mar-19 Variance Variance
Mar-22
TS 3,434,778 3,264,671 160,407 330,514
3,595,185 71,976 87,121 762,501 747,356
XPENSES 834,477 140,541
NANCE 613,954 614,838 473,413 (884)
TS 289 0 530 289 (241)
25,092 2,830
ISTRATIO 32,375 25,322 22,262 (230)
INSURA 31,972 31,824 403 551
1,049,191 959,746 900,790 148,401
NANCE 89,445
TS 6,150,564 5,138,632 4,780,611 1,369,953
1,011,932
ISTRATION
INSURAN (391,554) (342,249) (280,541) (49,305) (111,013)
(171,960) (174,741) (175,197) 2,781 3,237
n (537,803) (487,715) (446,354)
(50,088) (91,449)
(11,003) (10,968) (5,815) (35) (5,188)
(173,987) (181,810) (168,790) (5,197)
(32,395) 7,823 (3,642)
(36,037) (31,129) (884,162) (4,908) (185,157)
(1,069,319) (913,550) (1,147,667) (155,769) (437,289)
(1,584,956) (1,262,103) (782,686) (322,853) (19,175)
(929,425) (349,564) 127,564 (22,601)
(801,861) (386,573) (1,285,334) 14,408
(372,165) (1,281,689) 3,571
(1,281,763) (74)
(6,001,950) (5,558,506) (873,902)
(6,432,408) (430,458)
3,434,778 3,264,671 330,514
3,595,185 71,976 87,121 160,407 747,356
834,477 762,501 (111,013)
(342,249) (280,541) (49,305)
(391,554) (174,741) (175,197) 3,237
(171,960) 2,781 49,092
127,123 27,059 (50,972) (5,429)
76,151 (10,968) (5,285) (2,367)
(10,714) (156,489) (146,528) 254 (3,091)
(148,895) 7,594 (185,157)
843 (571) (4,505) (288,888)
(3,662) (913,550) (884,162) (155,769) (19,175)
(1,069,319) (302,357) (246,877) (233,408) (22,601)
(929,425) (782,686) 127,564
(535,765) (386,573) (349,564) 14,408 3,571
(801,861) (1,281,689) (1,285,334)
(372,165) (740) 496,051
(1,281,763) (863,318) (777,895) 581,474
492,480
(281,844) 418,371 507,439 581,548
(758,812)
999,919 - 507,439 (758,812) (266,332)
418,371 (177,264)
(758,812)
241,107

Final Year To Date - M

Food Sales This Year 2022
Liq Sales
Beer Sales MVL Men's Grill Grill Total
Wine Sales 124,887 788,002
Revenue 118,424 45,574 617,541 243,213 1
91,823 1
COGS Food 28,657 37,608 87,181 317,099
COGS Liq 117,055 1
COGS Beer/Soda 389,023 28,131 35,035 1,440,137 4
COGS Wine
COGS 10,230 189,814
121,543 929,571
Gross Profit
Payroll Expense Actual 69,437 25,339 343,353 438,129 1
56% 37,801 12,004 27,828 77,634
Net 32% 12,113 11,891 14,809 38,814
42% 72,668
62% 192,019 6,351 117,837 196,855
52% 55,585 503,827 751,431

197,004 65,958 425,744 688,706 2

61,582 38,333 215,585 315,500
16% 32% 23% 22%

135,422 27,625 210,159 373,206 1

4/27/20221:17 PM

March Last Year 2021 2019 2022 vs. 2021
Total Total
MVL Men's Grill Grill Total 72,242
124,184 715,760 548,899 (9,323)
145,406 42,995 548,581 252,536 179,995 4,409
87,414 11,257
36,581 33,850 73,280 305,842 63,664 78,585
137,591 299,998
443,762 27,138 23,695 1,361,552 1,092,556 72,161
6,317
13,661 154,590 282,354 8,726
117,644 800,146 57,040
22,932 45,983
63,495 21,983 280,489 365,968 Actual '19 133,187 Actual '21
41,063 9,559 20,694 71,316 171,179 #DIV/0! 51%
12,591 9,341 8,156 30,088 533,505 28%
67,874 6,739 76,259 34%
185,023 150,872 49%
47,622 385,599 618,244
#DIV/0!

258,739 70,022 414,547 743,308 559,051 (54,602)

88,941 32,013 215,580 336,534 295,155 (21,034)
20% 27% 27% 25% 27% (33,568)

169,798 38,009 198,967 406,774 263,896

This Month This Month Variance Actual
Actual Budget Bud-Act Last Yr

512,269 509,405 2,864 495,263
11,990 10,041 1,949 11,214
92,475 85,342 7,133 87,084
219 0 0
5,525 3,450 219 4,385
4,710 4,730 2,075 4,571

191,607 171,509 -20 156,995
20,098
818,794 784,477 759,512
34,317
-62,284 -61,453 -47,643
-22,174 -28,300 -831 -28,126
-84,894 -82,896 6,126 -67,107
-1,998
-5,270 -4,400 -1,140
-26,674 -31,820 -870 -24,955
5,146
-6,854 -5,027 -1,827 -4,166
-139,867 -154,808 14,941 -125,808
-218,317 -223,735 5,418 -216,659
-109,627 -114,146 4,519 -110,602
2,245
-51,711 -53,956 -50,209
-426,700 -426,700 0 -426,690

-1,154,372 -1,187,241 32,869 -1,103,104

512,269 509,405 2,864 495,263
11,990 10,041 1,949 11,214

-62,284 -61,453 -831 -47,643
-22,174 -28,300 6,126 -28,126
5,135
7,581 2,446 19,977
-5,051 -4,400 -651 -1,140
-21,149 -28,370 7,221 -20,570
-2,144 -1,847
-139,867 -297 14,941 405
-26,710 -154,808 25,516 -125,808
-109,627 4,519
-51,711 -52,226 2,245 -59,665
-426,700 -114,146 -110,602
0
-53,956 -50,209
-426,700 -426,690

-335,577 -402,764 67,187 -343,592

91,123 23,936 67,187 83,098

91,123 23,936 67,187 83,098

Var to Marietta Country Club
Last Yr Summary Income Statement - March, 2022

17,006 REVENUE
775 MEMBERSHIP DUES
OTHER INCOME
5,391 GOLF SHOP & CARTS
219 SWIMMING POOL
TENNIS
1,140 LOCKER ROOMS
139 FOOD SERVICE

34,612 Total

59,282 DEPARTMENTAL EXPENSES
REPAIRS & MAINTENANCE
-14,641 UTILITIES
5,952 GOLF SHOP & CARTS
SWIMMING POOL
-17,787 TENNIS
-4,130 LOCKER ROOMS
-1,719 GROUNDS
-2,688 FOOD SERVICE
GENERAL & ADMINISTRATIO
-14,059 TAXES INTEREST & INSURA
-1,658 DEPRECIATION
975
-1,503 Total
-11
MEMBERSHIP DUES
-51,268 OTHER INCOME
REPAIRS & MAINTENANCE
17,006 UTILITIES
775 GOLF SHOP & CARTS
SWIMMING POOL
-14,641 TENNIS
5,952 LOCKER ROOMS
GROUNDS
-12,396 FOOD SERVICE
-3,911 GENERAL & ADMINISTRATION
-579 TAXES INTEREST & INSURAN
-2,549 DEPRECIATION

-14,059
32,955
975
-1,503
-11

8,014 Total

8,025 Add Back Depreciation
Reduce by ERC
8,025

YTD YTD Variance Actual
Actual Budget Act-Bud Last YTD

3,595,185 3,532,851 62,334 3,434,778
834,477 60,712 773,765 71,976
613,954
289 597,935 16,019 614,838
25,092 530 -241 0
32,375
22,650 2,442 25,322
1,049,191 32,317 58 31,972
1,089,885 959,746
6,150,564 -40,694
5,336,880 5,138,632
-391,554 813,684
-171,960 -438,057 -342,249
-537,803 -188,950 46,503 -174,741
-578,085 16,990 -487,715
-11,003 40,282
-173,987 -10,595 -10,968
-206,122 -408 -181,810
-36,037 32,135
-1,069,319 -34,442 -1,595 -31,129
-1,584,956 -1,125,024 55,705 -913,550
-1,498,094 -86,862 -1,262,103
-801,861 56,710 -929,425
-372,165 -858,571 -386,573
-1,281,763 -381,493 9,328 -1,281,689
-1,281,760 -3
-6,432,408 -6,001,950
-6,601,193 168,785
3,595,185 3,434,778
834,477 3,532,851 62,334 71,976
60,712 773,765
-391,554 -342,249
-171,960 -438,057 46,503 -174,741
-188,950 16,990
76,151 56,301 127,123
-10,714 19,850 -10,968
-148,895 -10,065 -649 -156,489
-183,472 34,577
-3,662 -1,537 843
-1,069,319 -2,125 55,705 -913,550
-1,125,024 -127,556 -302,357
-535,765 56,710 -929,425
-801,861 -408,209 -386,573
-372,165 -858,571 9,328 -1,281,689
-1,281,763 -381,493 -3
-1,281,760

-281,844 -1,264,313 982,469 -863,318

999,919 17,447 982,472 418,371

(758,812) 17,447 (758,812) 418,371
241,107 223,660

Var Prior
YTD

160,407
762,501

-884
289

-230
403

89,445

1,011,931

-49,304
2,780

-50,088
-35

7,823
-4,908
-155,769
-322,853
127,563
14,408

-74

-430,457

160,407
762,501
-49,304

2,780
-50,972

254
7,594
-4,505
-155,769
-233,408
127,563
14,408

-74

581,474

581,548

(758,812)
(177,264)

Marietta C

Summary Income S

(,0

Mont

Actual Budget Bud-Act

Revenues 819 784 34
Expenses (1,154)
Net Income (ex-depreciation) (1,187) 33
91
24 67

Membership Dues Actual Budget Bud-Act
Repairs & Maintenance
512 509 3
Utilities (62) (61) (1
Golf Shop & Carts (22) (28) 6
5
Tennis 8 2 7
Grounds (21) (28) 15
Food Service (140) (155) 26
General & Administration (27) (52) 5
Taxes, Interest, Insurance (110) (114) 2
Other (Pool, Lkr Rm, Misc Inc.) (52) (54) (1

5 5

TOTAL 91 24 67

Comments: (+/- $5k and 5%)

Golf $5.4k labor, $3.8k Green/Cart Fees/Outings, $4k uniform
Tennis $2.3k labor, $4.4k Supplies, $1l R&M Tennis
Grounds $13.6k labor,$12k Sod&Seed- timing, $5k Sand&Gravel-
Food Service $20k GP, $5kLabor, ($3kk) Paper Supplies, ($1.7k) Dish/
Banquets Act $63.5k vs. Bud $39.2k Annual Budget $635K

\\MCCATFS01\Communications\2021-2022 Board\Board Docs for Upload\2022 April\Finance\March Bd Sum 2022

Country Club

Statement - March, 2022

000 's)

th to Date

% Var:Bud Last Yr Var:Yr

4 4.4% 760 59

3 2.8% (1,103) (51)

7 280.7% 83 8

% Var:Bud Last Yr Var:Yr

3 0.6% 495 17
1) -1.4% (48) (15)
6 21.6% (28)
5 209.9% 20 6
7 25.5% (21) (12)
5 9.7% (126)
6 48.9% (60) (1)
5 4.0% (111) (14)
2 4.2% (50) 33
1) -10.3%
5 1
(2)
7 280.7% 83 1

8

ms-timing ($7.1k) Range Balls timing

-timing,($10k) Tree Removal, ($7k) Fences, ($2k) Course Supplies
/Clean Supplies

4/27/2022

Marietta C

Summary Income S

(,0

Year

Actual Budget Bud-Act

Revenues 6,151 5,337 814
Expenses (6,432)
Net Income (ex-depreciation) 1,000 (6,601) 169

17 982

Membership Dues Actual Budget Bud-Act
Repairs & Maintenance
3,595 3,533 62
Utilities (392) (438) 47
Golf Shop & Carts (172) (189) 17
56
Tennis 76 20 35
Grounds (149) (183) 56
Food Service (1,069) (1,125) (128
General & Administration (536) (408) 57
Taxes, Interest, Insurance (802) (859)
Other (Pool, Lkr Rm, Misc Inc.) (372) (381) 9
820 772
49

TOTAL 1,000 17 982

Comments: (+/- 5% and $5k x fiscal mo; or, +/- 15%)

Repairs & Maintenance $11k R&M, $10k Labor, $6.6k Security, $6k uniforms-tim
Golf $14.9k Geens/Cart/Outings, $22.6k labor, $9k Range Ex

Tennis $21k labor, $13.8k Supplies
Grounds $56k labor,$11.5k Fert - timing, $11.2k Sand &Gravel - t
Food Service ($60k) GP, ($47k) Labor, ($28k) Decorations, ($12k) Ent
Banquets Act $440k Budget $344k YTD Budget 635.7k
General & Administration $49k New Mem Credits, $8.7k Committee - timing, $6k
Other (Pool, Lkr Rm, Misc Inc.) $758.8 ERC, $6.7k Int inc,

\\MCCATFS01\Communications\2021-2022 Board\Board Docs for Upload\2022 April\Finance\March Bd Sum 2022

Country Club

Statement - March, 2022

000 's)

r to Date

% Var:Bud Last Yr Var:Yr

4 15.2% 5,139 1,012

9 2.6% (6,002) (430)

2 5631.2% 418 582

% Var:Bud Last Yr Var:Yr

2 1.8% 3,435 160
7 10.6% (342) (49)
7 9.0% (175)
6 283.6% 127 3
5 18.8% (156) (51)
6 5.0% (914)
8) -31.2% (302) 8
7 6.6% (929) (156)
9 2.4% (387) (233)
2 1590.2% 128
62
14
2 5631.2% 418 758

582

ming,$5k paper supplies,
xpense - Timing,$3.5k Uniforms

timing, ($24.5k) Tree Removal, ($14k) Chemicals, $4k Eqip rent, $4k SM Tools
tertainment, ($13k) Paper Supplies, ($7.4k Equip Rent

Printing, $3.9k Serv Cont, (13.8k) Prof Fee, (6.5k) Bank fees ($5.7) HR

4/27/2022

Marietta Country Club TIPs Fund Options

Name Identifier
American Century Inflation-Adjs Bond R6 AIADX
American Funds Inflation Linked Bd R6 RILFX
DFA Inflation-Protected Securities I DIPSX
Fidelity® Inflation-Prot Bd Index FIPDX
Goldman Sachs Infl Protected Secs Instl GSIPX
MassMutual Infl-Prot and Inc I MIPZX

Morningstar Category Morningstar Rating
US Fund Inflation-Protected Bond 4
US Fund Inflation-Protected Bond 5
US Fund Inflation-Protected Bond 4
US Fund Inflation-Protected Bond 4
US Fund Inflation-Protected Bond 4
US Fund Inflation-Protected Bond 5

TIPs Fund Options

February 28, 2022

Prepared by: Prepared for:
ROBERT ELDER Marietta Country Club 401(k)
MCGRIFF SEIBELS WILLIAMS
3400 OVERTON PARK DRIVE
STE 300
ATLANTA, GA 30339
USA
(404)497-7500 663
[email protected]

Release date 02-28-2022 | Note: Portions of the analysis are based on pre-inception returns. Please read disclosure for more information. Page 2 of 28

TIPs Fund Options Total Number of Options
Investment Options 6

Style Count High Med Low Performance Quartiles 02-28-2022
000 Large Mid Small Quartile Rank (Trailing 3 Yr)
000 150 Q1
000 000
000 Q2
Value Blend Growth Ltd Mod Ext
Q3
Equity Style Options: 0 Fixed-Income Options: 6
Q4
01234
Number of Options

Fund Performance 02-28-2022 Type Eq FI Tot Ret % Tot Ret % Tot Ret % Tot Ret % Tot Ret % Tot Ret % Tot Ret % % Rank % Rank % Rank % Rank
Style Style YTD 3 Mo 1 Yr 3 Yr 5 Yr 10 Yr Since Cat Cat Cat Cat
Inflation-Protected Bond(Fds, USD) Incep 1 Yr 3 Yr 5 Yr 10 Yr
American Century Inflation-Adjs Bond R6 (USD)
DFA Inflation-Protected Securities I (USD) Avg 4 — -0.78 -0.59 5.53 6.88 4.36 2.30 — — — — —
Goldman Sachs Infl Protected Secs Instl (USD)
American Funds Inflation Linked Bd R6 (USD) MF — 4 -1.17 -0.91 6.67 7.53 4.63 2.43 5.03 9(210) 16(202) 35(182) 45(124)
MassMutual Infl-Prot and Inc I (USD)
Fidelity® Inflation-Prot Bd Index (USD) MF — 4 -1.20 -0.98 5.72 7.55 4.86 2.78 4.58 34(210) 15(202) 10(182) 11(124)

Standard Benchmarks 02-28-2022 MF — 4 -1.02 -0.89 5.75 7.16 4.48 2.59 4.32 31(210) 38(202) 42(182) 30(124)

S&P 500 TR USD MF — 1 -0.82 -0.67 4.76 7.85 5.10 — 4.05 80(210) 7(202) 7(182) —
Morningstar US Core Bd TR USD
MSCI EAFE NR USD MF — 4 -1.56 -1.22 6.04 7.64 4.93 2.89 3.89 16(210) 9(202) 8(182) 6(124)
USTREAS T-Bill Auction Ave 3 Mon
MF — 4 -1.16 -0.96 6.03 7.46 4.75 — 2.63 17(210) 26(202) 20(182) —

Type Eq FI Tot Ret % Tot Ret % Tot Ret % Tot Ret % Tot Ret % Tot Ret % Tot Ret % % Rank % Rank % Rank % Rank
Style Style YTD 3 Mo 1 Yr 3 Yr 5 Yr 10 Yr Since Cat Cat Cat Cat
Incep 1 Yr 3 Yr 5 Yr
10 Yr
Idx 4 — -8.01 -3.89 16.39 18.24 15.17 14.59 — — — —
Idx — — -3.35 -3.63 -2.53 — — — — — — — —
— — — — —
Idx 4 — -6.52 -1.73 2.83 7.78 7.16 6.15 — — — — —
Idx — — 0.04 0.05 0.08 0.73 1.10 0.62 —

Performance Disclosure

The performance data quoted represents past performance and does not guarantee future results. Then investment return and principal value of an investment will fluctuate; thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than return data quoted herein. For performance data
current to the most recent month-end, please visit http://advisor.morningstar.com/familyinfo.asp. An investment in a mutual fund is not insured or guaranteed by the FDIC or any other
government agency. It is possible to lose money by investing in the fund.

©2022 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and ß®
opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial professional which cannot be verified by
Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security,
and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this
information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc.
including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded
or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.

Release date 02-28-2022 | Note: Portions of the analysis are based on pre-inception returns. Please read disclosure for more information. Page 3 of 28

TIPs Fund Options Total Number of Options
Risk and Return 6

Risk/Return 02-28-2022 Morningstar Ratings Count

3 Yr Morningstar Rating Overall 3 Yr 5 Yr 10 Yr
Mean 2121
16.10 QQQQQ 4422
13.80 QQQQ 0121
11.50 QQQ 0000
9.20 QQ 0000
Q 0002

Not Rated

6.90 Total Options 6666

4.60

2.30

2.40 4.60 6.80 9.00 11.20 13.40 15.60
3 Year Standard Deviation
Fidelity® Inflation-Prot Bd Index (USD)
Holdings Goldman Sachs Infl Protected Secs Instl
(USD)
American Century Inflation-Adjs Bond R6 MassMutual Infl-Prot and Inc I (USD)
(USD)
American Funds Inflation Linked Bd R6
(USD)
DFA Inflation-Protected Securities I
(USD)

Benchmarks Morningstar US Core Bd TR MSCI EAFE NR USD
S&P 500 TR USD USD
USTREAS T-Bill Auction Ave 3
Mon

Risk/Return Detail 02-28-2022 Type Mstar Mstar Mstar Mstar Mstar Std Dev Mean Alpha Beta R2 Sharpe Sortino
Cat Rating Rating Rating Rating 3 Yr 3 Yr 3 Yr 3Yr 3 Yr Ratio Ratio
Inflation-Protected Bond(Fds, USD) Overall 3yr 5yr 10yr
American Century Inflation-Adjs Bond R6 (USD) 3 Yr 3 Yr
DFA Inflation-Protected Securities I (USD) Avg IP — — — — 4.40 6.88 3.97
Goldman Sachs Infl Protected Secs Instl (USD) 0.80 46.33 1.49 2.72
American Funds Inflation Linked Bd R6 (USD) MF IP 4W (202) 4Q (202) 3W (182) 3W (124) 4.46 7.53 4.23 0.93 59.15 1.50 2.72
MassMutual Infl-Prot and Inc I (USD) 0.91 60.12 1.55 3.04
Fidelity® Inflation-Prot Bd Index (USD) MF IP 4Q (202) 4Q (202) 4Q (182) 4Q (124) 4.33 7.55 4.31 0.87 65.35 1.59 3.10
0.76 60.97 1.93 4.60
MF IP 4Q (202) 3Q (202) 3Q (182) 4Q (124) 3.98 7.16 4.02 1.02 53.42 1.33 2.22
0.90 67.37 1.64 3.28
MF IP 5Q (202) 5Q (202) 5Q (182) — 3.58 7.85 4.94

MF IP 5Q (202) 4Q (202) 5Q (182) 5Q (124) 5.12 7.64 4.14

MF IP 4Q (202) 4Q (202) 4Q (182) — 4.03 7.46 4.25

Standard Benchmarks 02-28-2022 Type Mstar Mstar Mstar Mstar Mstar Std Dev Mean Alpha Beta R2 Sharpe Sortino
Cat Rating Rating Rating Rating 3 Yr 3 Yr 3 Yr 3Yr 3 Yr Ratio Ratio
S&P 500 TR USD Overall 3yr 5yr 10yr
Morningstar US Core Bd TR USD 3 Yr 3 Yr
MSCI EAFE NR USD
USTREAS T-Bill Auction Ave 3 Mon Idx — — — — — 17.72 18.24 — — — 1.00 1.64

Idx — — — — — 3.72 — — — — 0.69 1.20

Idx — — — — — 17.23 7.78 — — — 0.48 0.73
Idx — — — — — 0.27 0.73 — — — — —

Performance Disclosure

The Overall Morningstar Rating is based on risk-adjusted returns, derived from a weighted avergae of the three-, five-, and ten-year (if applicable) Morningstar metrics.

The performance data quoted represents past performance and does not guarantee future results. Then investment return and principal value of an investment will fluctuate; thus an
investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than return data quoted herein. For performance data
current to the most recent month-end, please visit http://advisor.morningstar.com/familyinfo.asp. An investment in a mutual fund is not insured or guaranteed by the FDIC or any other
government agency. It is possible to lose money by investing in the fund.

©2022 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. The information, data, analyses and ß®
opinions contained herein (1) include the confidential and proprietary information of Morningstar, (2) may include, or be derived from, account information provided by your financial professional which cannot be verified by
Morningstar, (3) may not be copied or redistributed, (4) do not constitute investment advice offered by Morningstar, (5) are provided solely for informational purposes and therefore are not an offer to buy or sell a security,
and (6) are not warranted to be correct, complete or accurate. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, this
information, data, analyses or opinions or their use. Opinions expressed are as of the date written and are subject to change without notice. Investment research is produced and issued by subsidiaries of Morningstar, Inc.
including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. This report is supplemental sales literature. If applicable it must be preceded
or accompanied by a prospectus, or equivalent, and disclosure statement. Please see important disclosures at the end of this report.