Meadows Club

Annual Meeting

October 27^th, 2009

Annual Managers Report:

· Membership:

§ 225 family memberships

§ 11 senior family memberships

§ 19 single parent memberships

§ 40 single memberships

§ 19 senior single memberships

§ 39 junior memberships

§ TOTAL = 353

§ We have added: 0 juniors, 17 families, 2 singles

· Revenue YTD: Our revenue is anticipated to be $683,363.64 an increase of $85K over 2008. The primary reason for the increase is the tennis program ($166K in tennis revenue this year).

· Balance Sheet:

§ Cash: Year end cash will exceed $100K (4^th quarter dues still coming in).

§ Long Term Debt: Our bank debt is at $749K.

· More detailed reports will be online tomorrow for those of you interested.

Recap of this year and moving forward:

This year I have a better understanding of the operations of the Meadows Club. I am continuing to learn a great deal from the membership & our wonderful board.

With that, I say good-bye to Dee & Richard; thank you for all you’ve done. Some of you may not know, but I knew Richard prior to coming to the Meadows. We have played basketball together and I respect the work he has put into (and continues to) put into this Club and our future indoor tennis facility. Dee has been equally great; she was our treasurer this year and the books have jumped leaps & bounds because of her; she has taught me a great deal about accounting; thank you for all your time.

I would also like to acknowledge our new tennis director, Adrian Games & our new head swim coach Nate Rothman.

Adrian, has brought us a stronger tennis program. He has great skills on the court; many of you have commented on how much you have learned and improved this year.

Nate transitioned well to yet another new head coach this year. My greatest compliment to Nate is his aptitude to coach our swimmers in both swimming and life. He very much wants these kids to be good people not just good swimmers.