Financial & Control Services
Let PGP become your Controller.
Saving time & money while partnering with a true industry expert. Managing a golf club and ensuring its economic success requires both a love of the game along with proven financial skills. Without question, the financial side of club management and integrating this with marketing are perhaps the biggest challenge today’s club owners and operators face on a daily basis.
Through conversations and experience with both current and prospective clients, it became clear that a common concern of just about every Board, owner and operator was whether they were running their business with affordable and sufficient financial controls.
Golf clubs vary in their financial needs. Most clubs require daily bookkeeping, but other accounting functions may only be needed on a bi-weekly, monthly, quarterly or even annual basis. To meet these needs, many clubs have a full-time controller. Others hire CPA firms to execute financial matters. Both approaches can be more costly than necessary. Equally important, hiring someone to handle financial matters who lacks a true understanding of golf operations can be detrimental.
Every golf club can benefit from reliable and secure financial services and control. Having said that, we understand full management services are not necessarily the right course for every client. For this reason, Pinnacle Golf Properties offers a Financial Services division allowing clients the ability to leverage our tremendous experience while providing peace of mind that the day to day financial controls and reporting are being produced timely and accurately.
With more than 120 years of collective experience on our executive team, Pinnacle Golf Properties offers a unique advantage to golf course owners, operators and management teams. We have built a reputation rooted in proven results in a variety of golf arenas including private, resort, semi-private and daily fee operations. In aggregate, our team has operated more than 80 golf courses, opened 30 new courses, renovated or constructed more than 20 courses, and evaluated more than 200 golf course operations.
Your Accounting Partner
This experience translates into an array of benefits for our partner clubs including:
- Accurate & timely financial performance reports
- Specific & relevant information for local, state and federal compliance
- Independent monitoring of business assets by golf and financial industry professionals
- Significant cost savings via synergies with local and national vendors
- Enhanced reserves by fee charged for services compared with full time employment
At PGP, we have created an ideal blend of expertise and personal service. Our hands on approach ensures that every aspect of our complex and ever-changing industry is constantly monitored and procured to make certain our clients are guided to the best financial practices and reporting. We have earned a reputation for providing exemplary personal service to our partner clubs. Over the years, this combination of expertise and exceptional service has enabled us to successfully guide our clients through the intricacies of financial structure, reporting and oversight.
SUMMARY OF BENEFITS
Controls & Segregation of Duties
A common concern among clubs is how to implement a cost effective solution providing exceptional financial controls and segregation of duties. PGP offers an affordable, unbiased, third party level of control designed to fit your existing structure. Efficiency By assuming the function of controller, PGP frees up the club to staff administrative offices in the most efficient way. Our third party controls and segregation of duties can reduce the need for expensive CPA services. For example, a full audit can sometimes be reduced to a simple review, depending on loan covenants. Similarly, our work paper preparation can expedite annual tax returns.
Support
PGP experts are never more than a phone call away. We are available to the General Manager and authorized staff to assist in the reporting and tracking of business activities. Accuracy Choosing an accounting method for tax purposes is critical. Our method ensures accurate reports. Daily receipts are confirmed and bank accounts reconciled. Purchases and inventories are verified. Long term capital and equity accounts are continually updated. During the transition to PGP, our accounting procedures are easy-to-understand for all employees, allowing us to build trust and confidence. Timeliness Financial reports are always delivered on time, ready for analysis by committees, boards, lenders and other authorized users.
Objectivity
Third party control by PGP means reports are objective and unbiased. Favoritism has no place in our impartial system. Financial information provided by a true neutral party allows decision makers to accurately validate a club’s current direction or expose the need to make adjustments. Experience Every golf club faces unique challenges. The solution that works for the club across town may not be the right course of action for you. At Pinnacle Golf Properties, our management team has decades of experience working with public, semi-private, private and resort entities. Chances are very good we have encountered the challenges you are facing and can use our experience to guide your club to a successful outcome. Our services include feedback with specific line-item benchmarking and industry perspectives.
Partnership/Expense Savings
The partnership benefit provides synergies and relationships with both our local and national vendors to provide cost saving advantages. Vendors such as EZ-GO, Jacobsen, Toro and Syngenta, Selective Insurance, Sysco, Titleist/FootJoy to name a few are significant accounts and our purchase discounts and national account agreements shall be applicable to our clients. All combined, these services provide a peace of mind that the club’s business activities and assets are being monitored by independent golf and financial industry professionals.