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2013_0826_packet
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8/30/2013 2:06:35 PM
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Page 12 of 13 <br />Golf Course Fund Summary 207 <br />The following table depicts the 2013 financial activity for the Golf C ourse Fund for the fiscal period 208 <br />ending June 30, 2013 (unaudited). 209 <br /> 210 <br />20132013%% <br />Budget Actual Actual Expect.Diff. <br />Revenues <br />Charges for services325,000 $ 135,267 $ 41.6%45.5%-3.9% <br />Interest earnings14,000 - 0.0%0.0%0.0% <br />Miscellaneous2,600 - 0.0%173.6%0.0% <br />Total Revenues 341,600 $ 135,267 $ 39.6%44.8%-5.2% <br />Expenditures <br />Golf Course operations 410,800 131,794 32.1%35.5%-3.4% <br />Total Expenditures 410,800 $ 131,794 $ 32.1%35.5%-3.4% 211 212 <br />Comments: 213 <br />Golf Course Fund revenues and expenditures were lower than expected. Revenues and expenditures 214 <br />can fluctuate greatly from year to year depending on the length of the golfing season and overall 215 <br />weather. 216 <br /> 217 <br />The Golf Course Fund is currently in good financial condition with $315,000 in available cash reserves 218 <br />for operations and capital replacements. However it does not have sufficient funds to replace the 219 <br />clubhouse and maintenance facilities in 2015 as currently scheduled. A comprehensive financial 220 <br />analysis should be conducted to determine the Golf Course can r each financial sustainability under 221 <br />current revenue sources. 222 <br /> 223 <br />224
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