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03-2018 Country Club_Preliminary as of 4-10-18
The Village of North Palm Beach Country Club Budget Summary (Preliminary) FY 2017-2018 Revenue FY 2018 Original Budget FY 2018 Revised Budget Current YTD (Mar 2018) % of Budget Prior Year (Mar 2017) Actual 9/30/17 Greens fee/cart rentals/membership fees 1,742,611$ 1,742,611$ 1,616,020$ 92.74% 1,709,341$ 2,302,642$ Golf Shop revenues 239,500 239,500 156,267 65.25% 180,564 296,119 Driving range revenues 238,524 238,524 194,221 81.43% 193,650 303,994 Restaurant revenues - - - 0.00% 28,295 32,595 Interest revenues 10,000 10,000 2,467 24.67% 4,592 10,274 Sale of Surplus - - - 0.00% - - Appropriated Retained Earnings 425,770 425,770 - 0.00% - - Miscellaneous ①6,000 6,000 11,124 185.40% 8,333 11,081 Total Revenues 2,662,405$ 2,662,405$ 1,980,099$ 74.37% 2,124,776$ 2,956,706$ Expenses Personnel Costs 581,761 581,761 356,637 61.30% 360,242 649,433 Operating Costs Golf Course Maintenance 1,149,822 1,149,822 560,639 48.76% 563,661 1,137,008 Golf Shop & Range 421,939 421,939 213,945 50.71% 258,784 418,621 Food & Beverage ②16,600 16,600 34,353 206.95% 27,099 64,288 Country Club Administration 12,200 12,200 8,851 72.55% 15,521 20,109 Clubhouse & Grounds ②4,886 4,886 46,416 949.97% 46,806 118,380 Insurance & General Liability 44,038 44,038 21,355 48.49% 23,734 47,469 Attorney Fees 10,000 10,000 2,867 28.67% 2,577 4,683 Capital Outlay Capital Outlay 23,000 23,000 78,035 339.28% - 2,416 Debt Service Debt Service 398,159 398,159 199,079 50.00% 199,079 398,159 Reserves Contingency - - - 0.00% - 10,407 Total Expenses 2,662,405$ 2,662,405$ 1,522,176$ 57.17% 1,497,504$ 2,870,972$ Revenues over (under) expenses -$ -$ 457,923$ 627,272$ 85,734$ # Rounds 25,044 25,044 22,472 89.73% 24,036 41,979 Current YTD Notes: ① Unbudgeted item: Insurance Refunds ② Several expense categories had an increase in costs as a result of operating from the Clubhouse vs. temporary facilities (FY18 budget was prepared based on the assumption that we would be operating out of the temporary facilities): Property taxes as a result of F&B lease operation Utilities Janitorial services Extension of temporary chiller contract