06-2018 Country Club_Preliminary as of 7-25-18The Village of North Palm Beach
Country Club Budget Summary (Preliminary)
FY 2017-2018
Revenue
FY 2018
Original
Budget
FY 2018
Revised
Budget
Current YTD
(June 2018) % of Budget
Prior Year
(June 2017)
Greens fee/cart rentals/membership fees 1,742,611$ 1,742,611$ 1,741,806$ 99.95% 2,113,534$
Golf Shop revenues 239,500 239,500 203,030 84.77% 248,991
Driving range revenues 238,524 238,524 255,126 106.96% 261,056
Restaurant revenues - - - 0.00% 32,595
Interest revenues 10,000 10,000 7,519 75.19% 7,878
Sale of Surplus - - 19,448 0.00% -
Loan from General Fund - 1,700,000 - 0.00% -
Appropriated Retained Earnings 425,770 425,770 - 0.00% -
Miscellaneous ①6,000 6,000 14,222 237.03% 10,496
Total Revenues 2,662,405$ 4,362,405$ 2,241,151$ 51.37% 2,674,550$
Expenses
Personnel Costs 581,761 581,761 480,084 82.52% 509,255
Operating Costs ②
Golf Course Maintenance 1,149,822 1,149,822 842,483 73.27% 847,285
Golf Shop & Range 421,939 421,939 305,593 72.43% 342,138
Food & Beverage 16,600 16,600 40,744 245.45% 40,700
Country Club Administration 12,200 12,200 13,534 110.94% 17,621
Clubhouse & Grounds 4,886 4,886 57,499 1176.81% 82,807
Insurance & General Liability 44,038 44,038 32,033 72.74% 35,602
Attorney Fees 10,000 10,000 4,485 44.85% 3,591
Capital Outlay
Capital Outlay 23,000 1,723,000 545,118 31.64% 2,416
Debt Service
Debt Service 398,159 398,159 199,079 50.00% 199,079
Reserves
Contingency - - - 0.00% 10,407
Total Expenses 2,662,405$ 4,362,405$ 2,520,653$ 57.78% 2,090,899$
Revenues over (under) expenses -$ -$ (279,502)$ 583,651$
# Rounds 25,044 25,044 25,832 34,945
Current YTD Notes:
① Unbudgeted item: Insurance Refunds
② Several operating costs have exceeded the budgeted amounts because the Country Club Budget was prepared
based on the assumption that we would be operating out of the temporary facilities as of 10/1/17; however,
there was a delay in the project and we are still operating out of the main clubhouse until 5/1/18.
Revised Budget 4,362,405$
Original Budget (2,662,405)
Budget Amendments 1,700,000 Loan from Gen Fund