Ordinance 1979-002 Budget Transfer FY 1977-78ORDINANCE N0. 2-79
AN ORDINANCE OF THE VILLAGE COUNCIL OF NORTH PALM BF.AC}{,
FLORIDA, AMENDING THE NORTH PALM BEACH BUDGET FOR THE FISCAL YEAR
1977-78 BY INCREASING REVENUES AND APPROPRIATIONS OF THF. GF,NF.RAL
FUND BY $39,163.00 AND TRANSFERRING SAID AMOUNT TO THE COUNTRY CLUB
' RL;VENUE FUND.
WHEREAS, the Country Club Fund of the North Palm Beach
budget has a deficit of $39,163.00; and
WHEREAS, it is desired to fund that deficit from General
Fund with provision for repayment over a six-year period in order
that the general taxpayers of the Village need not support the opera-
tio~is of the North Palm Beach Country Club;
NOW, 1'HF,REFORE, BE IT ORDAINED BY THE VILLAGE COUNCIL OF
Tt[E VILLAGE OF NORT}{ PALM BEACH, FLORIDA:
Section 1. Ordinance No. 18-77, the budget ordinance of
the Village of North Palm Beach is hereby amended as follows:
' GENERAL FUND
Increase Revenues:
Account No. 389.00 - Appropriated
Fund Balance $39,163.00
lncrease Appropriations:
Account No. 42-299.03 - Inter-
fund Transfer to Country Club
Revenue Fund $39,163.00
COUNTRY CLUB FUND
Increase Revenues:
Account No. 332.91 - Inter-
fund Transfer from General
Fund $39,1 63.00
Section 2. The annual budgets for the following six years
shall include Country Club appropriations as follows:
' Year Principal Interest Total
1978-79 0 $2,741.00 = $ 2,741.00
1979-80 $7,832.60 + $2,741.00 = $10,573.60
1980-81 $7,832.60 + $2,193.13 = $10,025.73
1981-82 $7,832.60 + $1,644.85 = $ 9,477.45
1982-83 $7,832.60 + $1,096.56 = $ 8,929.16
1983-84 $7,832.60 + $ 548.28 = $ 8 380.88
50,1 7.8
M
As scheduled, these payments shall be transferred to the General
Rind for repayment of this $39,163.00 operating Country Club loss
together with a sum equal to seven percent (7%) interest on the
outstanding balance per year, and the Village Manager shall advise
the Village Council of the terms of this section at budget hearings
' during each of the next five years to accomplish this result.
Section 3. This Ordinance shall take effect immediately
upon passage.
PLACED ON FIRST READING THIS 11T}{ DAY OF JANUARY, 1979.
PLACED ON SF,COND, FINAL READING AND PASSED THIS 25TH DAY OF
JANUARY, 1979.
/s/ Al Moore
MAYOR
ATTEST:
/s/ Dolores R. Walker
Village Clerk
~J
~~ ~
VILLAGE OF NORTH PALM BEACH
SUMMARY
Discussion Topics
1. Overview of operations of Country Club
Revenue Fund for year ended September 30, 1978
2. Review of food and beverage operations for
year ended September 30, 1978
3. Present status of food and beverage opera-
tions
Financial Statements
Country Club Revenue Fund
Statement of Income and Expenses
Income Statement - Food and Beverage
Seasonal Comparison - Income Statement
Food and Beverage
Page
1
2
3
12/78
Page: 1
VILLAGE OF NORTH PALM BEACH
COUNTRY CLUB REVENUE FUND
STATEMENT OF INCOME AND EXPENSES
YEARS ENDED SEPTEMBER 30, 1978 AND 1977
Membership Dues
Golf
Pool
Tennis
Clubhouse
Net Dues, Sports Activities
& Clubhouse Revenue
Undistributed Operating Expense
Net Operating Income
Other Expenses
Debt Service Contribution
Reserve Operation Fund Transfer,
1978
433,000
(66,188)
(57,444)
(27,033)
(37,719)
244,616
206,302
38,314
61,537
16,091
77,628
Increase
1977 (Decrease)
385,124 47,876
(60,504) (5,684}
(49,319) .(8,125)
(24,644) (2,389)
( 2,063) (39,782)
252,720 (8,104)
200,112 6,190
52,608 (14,294)
54,587 6,950
16,'091
54,587 23,041
Net Loss (39,314) '(1,979) (37,335)
Page: 2
VILLAGE OF NORTH PALM BEACN
COUNTRY CLUB
INCOME STATEMENT - FOOD & BEVERAGE
YEARS ENDED SEPTEMBER 30 1978 AND 1977
Income
Dining Room
Bar
Snack Bar
Room Rental
Cost of Sales
Food
Bar
Gross Profit
Operating Expenses
Payroll & Fringe Benefits
Other Expenses
Net Loss
Gross Profit - Food
Gross Profit - Beverage
Increase
1978 1977 (Decrease)
189,408 215,488 (26,080)
120,060 126,491 .(6,431)
'.10,644 10,069 575
460 99 361
320,572 352,147 (31,575)
.123,923 132,156 (8,233)
42,936 44,649 (1,713)
166,859 176,805 (9,946)
153,713 175,342 21,629
162,488 150,267 12,221
37,698 36,121 1,577
200,186 186,388 13,798
(46,473) (11,046) (35,427)
38.06% 41.42%
64.24% 64.70%
SON OF N
VILLAGE OF NORTH PALM BEACH
COUNTRY CLUB
SEASONAL COMPARISON-INCOME STATEMENT-FOOD & BEVERAGE
FOR YEARS ENDED SEPTEMBER 30 1978 AND 1977
iVEMBER 1 TO APRIL 30, FOR PERIODS ENDED APRIL 30, 19;
INCOME - Dining Raom
Bar
~ Snack Bar
Room Rental
C05T OF SALES - Food
Beverage
GROSS PROFIT
ING EXPENSES - Payroll & Fringe Benefits
Other Expenses
NET (LOSS) PROFIT
Gross Profit - Food % (1)
Beverage %
COMPARISON OF THE MONTH OF OCTOBER & THE MONTHS
MAY 1 TO SEPTEMBER 30
INCOME - Dining Room
Bar
Snack-Bar
Room Rental
COST OF SALES - Food
Beverage
GROSS PROFIT
OPERATING EXPENSES Payroll & Fringe Benefits
Other Expenses
NET (LOSS)
Gross Profit - Food % (1)
Beverage
Page: 3
1978 1977
124,455 120,666
68,436 66,387
817 3,035
323 75
194,031 190,163
70,563 63,747
21,802 21,238
92,365 84,985
101,666 105,178
92,177 77,572
18,850 17,856
111,027 95,428
( 9,361) 9,750
43.b8% 48.47%
68.15% 68.01%
64,953 94,832
51,624 60,094
9,827 7,034
137 24
126,541 161,984
53,360 68,409
21,134 23,411-
74,494, 91,820
52,047 70,164
70,311 72,695
18,848 18,265
89,159 90,960
(37,112) (20,796)
28.65% 32.85%
59.07% 61.05%
(1) Includes Dining Room & Snack Bar
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