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Operating income (loss)
<br />Nonoperating revenues
<br />Net Income (loss)
<br />$ 215,037
<br />123,603
<br />S 338,640
<br />$ (207,737)
<br />97.798
<br />S 1109,9391
<br />The Golf Fund accounts for the operation of one, par-three, nine-
<br />hole golf course. This golf course was purchased in 1967, and
<br />the annual profits from the user charge have been su££icient to
<br />cover all operating costs and the bond principal and interest
<br />payments since the purchase date. Green fees were increased in
<br />1987 to $4.50. No increase was made in 1988.
<br />Below is a summary of golf operations:
<br />Operating revenues
<br />Gross profits on
<br />merchandise sold
<br />User charges
<br />Other
<br />Total Operating Revenues
<br />Operating expenses
<br />Personal Service
<br />Depreciation
<br />Other
<br />Total Operating Expense
<br />Operating income
<br />Non-operating revenues
<br />(expenses)
<br />Net Income
<br />�
<br />$ 7,270
<br />162,696
<br />9,869
<br />S 1�2.565
<br />$ 86,906
<br />15,972
<br />49,035
<br />S 151,912
<br />$ 27,923
<br />15,284
<br />S 43,207
<br />�
<br />$ 5,529
<br />172,692
<br />6.865
<br />S 185,086
<br />$ 87,579
<br />7,037
<br />42,091
<br />S 136,707
<br />$ 48,379
<br />13,536
<br />S 61,915
<br />The Ice Arena Fund accounts for the operation of one ice arena,
<br />with a seating capacity of approximately 1,950. During 1988,
<br />general property taxes in the amount of $46,298 were collected to
<br />pay the bond principal and interest, and to assist in paying for
<br />the current year's operations.
<br />Below is a summary of the Ice Arena operations:
<br />Operating revenues
<br />Gross profits on
<br />merchandise sold
<br />User charges
<br />Other
<br />Total operating
<br />Operating expenses
<br />Personal service
<br />Depreciation
<br />Other
<br />Total operating
<br />revenues
<br />expenses
<br />12
<br />�
<br />$ 15,922
<br />333,596
<br />14,306
<br />S 347,904
<br />199,805
<br />46,631
<br />132,356
<br />S 378,792
<br />1987
<br />$ 16,159
<br />308,238
<br />11,102
<br />S 335.499
<br />186,485
<br />31,352
<br />123,733
<br />S 341,520
<br />
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