[the club’s finances will be reviewed by external auditors and the results will be shared with members. A short list of accounting firms is being considered for the task by the club’s financial, audit, and risk committee. The accounts showed a significant loss in the members’ dining and functions component of the business, with expenses nearly doubling in the food and beverage section. Food costs increased by 155% while revenue only increased by 43%, and staff costs jumped by 77%. The president addressed some of the dramatic increases in costs but did not provide further details.
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