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Golf Course Fund Summary <br />The following table depicts the 2015 financial activity for the Golf Course Fund for the iiscal period <br />ending June 30, 2015 (unaudited). <br />Revenues <br />Charges for services <br />Interest earnings <br />Miscellaneous <br />Total Revenues <br />Expenditures <br />Golf Course operations <br />Total Expenditures <br />2015 2015 % % <br />Bud�et Actual Actual ExpeCt• Diff. <br />$ 293,955 $ 169,995 57.8% 46.4% 11.4% <br />2,000 - 0.0% 0.0% 0.0% <br />3,000 - 0.0% 0.0% 0.0% <br />$ 298,955 $ 169,995 56.9% 44.2% 12.7% <br />383,700 148,045 38.6% 35.7% 2.8% <br />$ 383,700 $ 148,045 38.6% 35.7% 2.8% <br />Comments: <br />Golf Course Fund revenues were somewhat higher than expected while expenditures were on expected <br />pace. Revenues and expenditures can fluctuate greatly from year to year depending on the length of the <br />golfing season and weather conditions. <br />The Golf Course Fund is currently in fair financial condition with $249,000 in available cash reserves <br />for operations and capital replacements. However it does not have sufficient funds to replace the <br />clubhouse and maintenance facilities as currently scheduled. A comprehensive financial analysis <br />should be conducted to determine the Golf Course can reach financial sustainability under current <br />revenue sources. <br />Page 12 of 13 <br />