McGladrey club professionals are frequent speakers at national and regional trade association events. Our professionals are also available for presentations to boards of directors and other club committees upon request.
A sampling of topics on which they speak includes:
Strategy Management: A Practical Use for Financial Statements. Club management is increasingly being forced to adopt a more "metric-centric" focus. Boards demand greater analysis of financial results. Current and prospective club members pose more sophisticated financial inquiries. And yet strategic plans continue to be vague at best when addressing on financial matters. Given these realities, club executives must understand the need to "sell" the financial picture of their organizations to stakeholders. This presentation addresses several common requests club management receives with increasing frequency from members, committees and prospective members. A review of the economic nuances of club operations is offered and the most challenging issues to address in member communications are highlighted. We review key financial issues that club executives should be prepared to address and offer guidance on how to depict effectively the true financial condition of the club in a manner that will allow existing and future members to find comfort in the fact that their club is well managed. Participants will have the opportunity to discuss the financial questions frequently posed by board and finance committee members as well as the general membership.
Nonprofit Governance and Financial Oversight: What Every Club Leader Should Know. Lapses in board oversight in the for-profit and not-for-profit sectors have drawn attention to the important stewardship of a board of directors. At the same time, the Sarbanes-Oxley Act broadened governance requirements to strengthen corporate accountability. This program focuses on key issues and best practices, how and why fraud occurs, management responsibilities and the importance of internal controls and sound governance at a private club.
A Guide for Clubs through a Recession. The private club industry was long seen by it constituents as recession proof. Even post-recession, the current economic climate is unchartered territory for most private clubs. In many cases the club manager is the individual asked to wave a magic wand to navigate the club through the rough waters. Managers are left wondering how to use experience to deal with a perfect economic storm when such conditions have never been faced before. This session is designed to provide a series of strategic, managerial and financial action points to help club managers guide the board and management team through a tumultuous time. Specific recommendations and plans of attack are offered along with a checklist to help clubs through the process. The session is designed to be interactive to elicit input from club managers on what their experiences have been and what has and has not worked at their property.
Everything You Know is Wrong: Being a Chief Operating Officer at a Bundled Community Club. Most club literature focuses on the traditional member owned institution that formed the basis of the industry centuries ago. Today, however, clubs take many forms, including the increasingly prevalent "bundled community club" model where members are always on the doorstep. Other than the CMAA publication Managing the HOA-Residential Golf Community, little in the way of accounting and operational guidance exists for chief operating officers (COOs) of such clubs. This session will focus on what COOs need to know about the operational, political and financial management of such entities. Review the key aspects of the accounting guidance and operational challenges faced at bundled community clubs and come away with an understanding of the differences between traditional club reporting and management demands and those of the bundled club community.
What "Running the Club Like a Business" Really Means. Club executives have been challenged to "run their clubs like businesses" more and more over the last few years. But not all businesses are created equal. Some succeed; others fail. Businesses need to know when to expand, when to contract, when to invest in opportunities and even when to merge or close their doors. This interactive session explores the intended and unintended consequences of decision making under this newfound business mindset. Participants are invited to discuss what has and has not worked in their experience and hear which financial metrics are being applied by boards and current/prospective members in judging the business success and failure of clubs. The session offers a review of the internal and external financial trends facing clubs that are critical to decision making. From revenue generating efforts to enhanced efficiency measures, participants are asked to share ideas, success stories and cautionary tales of being challenged to "run their clubs like a business."
Setting the Story Straight: Economic Realities of Food and Beverage Operations. Losing money in food and beverage stimulates so much discussion with board members it often feels like a permanent topic on every agenda—right after the approval of the previous meeting's minutes. If only food and beverage could recognize an additional $1 of revenue for every time this question was asked, the question would cease to be asked! While club managers have argued for years that the food and beverage operation is not a restaurant, this session offers economic and operational data to prove this hypothesis to the board as well as current and prospective members. The session features national industry trends in food and beverage, a review of key economic data that will impact the department and provides alternative thoughts on how to measure the "loss" in club restaurant facilities versus other departments that are rarely critiqued as aggressively.
Fraud: Go Beyond the Segregation of Duties. Go beyond the basic segregation of duties and examine the economic drivers behind fraud and why they render time-honored beliefs about fraud obsolete. The critical role a club chief executive officer must play in preventing and detecting fraud extends past ensuring an adequate internal control structure is in place. This session focuses on key issues and best practices, how and why fraud occurs, management responsibilities and the importance of internal controls and sound governance in your facilities. Other highlights include a case study that takes participants through identifying and ranking fraud risk factors with the help of the fraud risk matrix. Walk away with tools and actionable processes to implement at the club without delay.
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