Kelowna Yacht Club facing deficit of over $500,000
The Kelowna Yacht Club is on track to see a loss of more than half a million dollars this year.
The club blames flooding in the spring and fires in the summer for the operational deficit.
“That’s our peak season for use of our member facility and the restaurant,” says Kent Hardisty, Rear Commodore at the club “Quite frankly many of our members were not in town, boats weren’t in the water, so it did present a challenge.”
The club is asking members to pay a one-time fee of $350 to help make up for the loss.
Hardisty says they're also looking at some restructuring, which could include increasing membership fees for next year.
“Anytime you run into a situation where there are challenges and you have to do some deep dives and audits you’ll find some systemic issues also,” he said “I tend to think that whenever there’s crisis, if one would call it that, often comes good change.”
Hardisty is confident that the club will get out of the deficit hole and says it’s still business as usual.