Annual_Report_1980_001 - Laserfiche WebLink

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�nterprise Tunds (Cantinued) The Go1f Pund accounts for the operation of one par thr�e nzne-nole golf course. � This golf course was purchased in 1967 and the annual proiiLs fiom user charges have been sufficient to cover�all.operating cost and the bond principal and interest ��.. payments since the purchase date. Green fees�caere increased in 1980 to $3.00 from : $2.75 in 1979. Bel.ow is a summary of the golf operations: Oper:ting reveaue Gross profits on merchandise sold User charoes Other Total operating revenue Operating expense Personal service Depreciation Other Tota1 operating expense Gperatiag income Nonoperating revenue (expense) Net income 1980 $ 7,507 1Q9,009 1,159 $ 117,675 $ 57,958 4,727 26,874 $ 89,559 $ 28,116 ( 4,746) $ 23,370 1979 S 7,0:6 96,SG2 987 $ 104,595 $ 52,277 3,950 30,09� $ 86,325 $ 18,270 ( 5,363) S 12,907 1978 $ 4,653 89,635 991 $ 95,279 � 45,371 3,841 24,909 $ 75,121 ,s 20,158 ( 5,978) S 14,150 The Ice Arena Fund accounts for the operation of on� ice arena with a seating capacity of approximately 1,950. During 1979 the Ice Arena was closed from July 14 to December 14, while impr.ovements were made in the ice making equipment and to correct the frost proulem under the ice su.face, '-'his close dewn resulted in the decrease in revenue for 1979. Operating revenue for 1980 increased by $100,691 over 1979, which was in large part due to being open the whole year and an increase �in the ice rental rate from $50 to $55 per hour. General property laxes in the amount of $36,782 were collected to pay the bond principal and interest, and $64,806 in property taxes was applied towards lhe current year's operating expense and prior years operating losses. 10