How is the Annual Fund used to support Lakeside?
Like all organizations, Lakeside uses financial best practices, including a monthly review of financial performance by the CFO and Lakeside Chautauqua Board Finance Committee; robust internal controls monitored by the CFO and Audit Committee; and a very vigorous planning and budgeting process culminating with Board approval of the annual budget at the winter Board meeting. Lakeside utilizes multiple revenue sources, which is critical to a thriving business model that creates long-term financial sustainability.
However, the year-round operation of Lakeside and the summer Chautauqua program are not inexpensive. It takes a significant sum to produce the Chautauqua experience that we all love and cherish.
After revenue comes in from attendance-related activities, including season passes, daily gates fees, parking, lodging and food, groups and event fees, as well as property and trash assessments and the draw from the Endowment, there is about $700,000 of expenses in our budget that still need funded.