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The Golf Fund�accounts for the operation of one par three nine-hole golf course.
<br />This golf course was purchased in 1967 and the annual profits from user charges
<br />have been sufficient to cover a11 operating cost and the bond principal and interest
<br />payments siace the purchase date.
<br />Be1ow is a summary�of the golf. operations: �
<br />�perating revenue
<br />Sa1e oF merchandise
<br />�� User chas�ges
<br />6ther
<br />Tatal operatin� revenue
<br />EL•iL'
<br />$ 7,106
<br />96,502
<br />987
<br />$ 104,595
<br />1978
<br />$ 4,653
<br />89,635
<br />991
<br />$ 95,279
<br />1977
<br />$ 5,570
<br />95,408
<br />1,423
<br />S 102,401
<br />Operatiiig expense �
<br />£�ersoc�al service $ 52,277 $ 46,371 $ 44,063
<br />isegreciation 3,950 3,841 5,022
<br />Cther 30,098 24,909 23,982
<br />Tota1 operating expense $ 86,325 $ 75,121 $ 73,067
<br />Operatitig income $ 18,270 $ 20,158 $ 29�334
<br />Non-operating revenue (expense) 5 363) ( 5,978) ( 6,900).
<br />Ne[ income $ 12,907 $ 14.180 S 22,434
<br />The Ice Arena Fund accounts for the operation of.one_ ice arena with a seating „___
<br />_ _
<br />cap�city nf approximately 1,950.'`During 1979 the Ice Arena was closed from July 14
<br />to December 14, for improvements made in the ice making equipment and to correct
<br />_ the £r�st problem under the ice surface.:'The contract for doing this work was
<br />$218,865 and is being financed primarily�from Federal Revenue Sharing. General
<br />property taxes in the amount of $37,905 were collected to pay the bond principal
<br />and interest, and $67,156 in property taxes was applied towards the current year's
<br />operati_ng expense and prior years operating losses.
<br />Be1ow is a summary of the Ice Arena operations:
<br />1979
<br />'i Operating revenue
<br />� Sale o£ merchandise $ 6,543
<br />User charges 56,792
<br />OthQr 65,895
<br />� Total operating revenue $ 129,230
<br />OFerati¢g expense
<br />Personal service $ 90,602
<br />�� Depreci.ation 18,716
<br />Other 93,026
<br />iot�?x operating expense $ 202,344
<br />• Operatiag income (loss) $( 73,114)
<br />Noa-operating revenue (expense) 92,156
<br />:�et income (loss) $ 19,042
<br />7
<br />1975
<br />$ 8,020
<br />72,023
<br />91,564
<br />$ 171,b07
<br />$ 101,376
<br />19,784
<br />122,693
<br />$ 243,853
<br />$( 72,246)
<br />54,285
<br />$( 17,961)
<br />1977
<br />$ 7,405
<br />73,917
<br />97,464
<br />S 178,786
<br />$ 101,769
<br />17,857
<br />106,074
<br />S 225,700
<br />$( 46,914)
<br />26,154
<br />S( 20,760)
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