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Rye Golf Club Looks Forward, Expects Profit In 2014

Rye Golf Club is projecting an $84,000 profit in 2014.
Rye Golf Club is projecting an $84,000 profit in 2014. Photo Credit: The Daily Voice File Photo

RYE, N.Y. -- In the wake of the scandal that hit the Rye Golf Club last year, officials are looking to move forward and are projecting positive revenue in 2013 and 2014.

Last year, the Golf Club's general manager Scott Yandrasevich was accused of stealing more than $270,000 from the club over a four-year period. An investigation was launched, and Yandrasevich was placed on leave in October 2012. He was arraigned on felony grand larceny charges Tuesday.

"This was in some ways a year of transition, and from a financial perspective there was a view that we really didn't have a baseline that we were comfortable with in 2012, given the uncertainties and the investigation that went along with it," said Pat Dooley of the Rye Golf Club Commission's finance committee, which prepared the 2014 budget for the golf club.

The golf club is projected to see positive revenue in 2013 for the first time in five years. The projected profit for 2014 is expected to be $84,000. Dooley said that the golf club actually saw an increase in membership in 2013. Right now membership is about 12 percent lower than it was during its peak years of 2007 and 2008, but he is hopeful that it will remain steady, if not increase.

Next year the club's house membership fee is expected to increase from $250 to $400. Food minimum and all charges for club amenities will remain the same, and members will continue to receive a 10 percent discount at Whitby Castle. The club will also start charging a 3 percent service fee for members who pay annual dues with a credit card, which Dooley said should save about $100,000. There will be some small capital expenses, but Dooley said that the commission is looking to start putting money aside for future capital expenditures.

The Whitby Castle restaurant is projected to lose around $368,000 in 2014. The city is currently in the process of seeking an outside organization to come in and take over management of the restaurant. Golf club officials recently had a meeting with 15 vendors interested in taking over the operations of the restaurant. Some of the prospective vendors are restaurants, caterers or combinations. A request for proposals has been sent out, and proposals will be received by late December, at which point officials will begin evaluating them and narrowing down candidates.

The search for a contractor to take over at Whitby Castle will run parallel to the search for a new general manager for the club. City Manager Scott Pickup said that once the city receives its proposals for Whitby Castle in December, it will have a better idea of what kind of candidate it would need to take over day-to-day operations of the golf club.

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