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Golf Course Fund Summary <br />207 <br />The following table depicts the 2013 financial activity for the Golf Course Fund for the fiscal period <br />208 <br />ending March 31, 2013 (unaudited). <br />209 <br />210 <br />20132013%% <br />ActualActualExpect.Diff. <br />Budget <br />Revenues <br />Charges for services325,000$ 7,233$ 2.2%8.2%-6.0% <br />Interest earnings14,000 - 0.0%0.0%0.0% <br />Miscellaneous2,600 1,454 55.9%47.6%8.4% <br />Total Revenues$ 8,687341,600$ 2.5%8.2%-5.7% <br />Expenditures <br />Golf Course operations <br /> 16,722410,800 4.1%8.5%-4.5% <br />Total Expenditures$ 16,722410,800$ 4.1%8.5%-4.5% <br />211 <br />212 <br />Comments: <br />213 <br />Golf Course Fund revenues and expenditures were lower than expected. Revenues and expenditures <br />214 <br />can fluctuate greatly from year to year depending on the length of the golfing season and overall <br />215 <br />weather. <br />216 <br />217 <br />The Golf Course Fund is currently in good financial condition with $315,000 in available cash reserves <br />218 <br />for operations and capital replacements. However it does not have sufficient funds to replace the <br />219 <br />clubhouse and maintenance facilities in 2015 as currently scheduled. A comprehensive financial <br />220 <br />analysis should be conducted to determine the Golf Course can reach financial sustainability under <br />221 <br />current revenue sources. <br />222 <br />223 <br />224 <br />Page 12 of 13 <br /> <br />