05-2018 Country Club_Preliminary as of 6-12-18The Village of North Palm Beach
Country Club Budget Summary (Preliminary)
FY 2017-2018
Revenue
FY 2018
Original
Budget
FY 2018
Revised
Budget
Current YTD
(May 2018) % of Budget
Prior Year
(May 2017)
Actual
9/30/17
Greens fee/cart rentals/membership fees 1,742,611$ 1,742,611$ 1,741,770$ 99.95% 2,037,154$ 2,302,642$
Golf Shop revenues 239,500 239,500 200,095 83.55% 227,968 296,119
Driving range revenues 238,524 238,524 239,663 100.48% 245,095 303,994
Restaurant revenues - - - 0.00% 31,945 32,595
Interest revenues 10,000 10,000 4,440 44.40% 6,844 10,274
Sale of Surplus - - 2,547 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 12,255 204.25% 10,131 11,081
Total Revenues 2,662,405$ 4,362,405$ 2,200,769$ 50.45% 2,559,137$ 2,956,706$
Expenses
Personnel Costs 581,761 581,761 452,137 77.72% 464,606 649,433
Operating Costs ②
Golf Course Maintenance 1,149,822 1,149,822 749,778 65.21% 752,827 1,137,008
Golf Shop & Range 421,939 421,939 285,461 67.65% 316,585 418,621
Food & Beverage 16,600 16,600 39,397 237.33% 36,172 64,288
Country Club Administration 12,200 12,200 13,094 107.33% 16,921 20,109
Clubhouse & Grounds 4,886 4,886 54,186 1109.01% 78,043 118,380
Insurance & General Liability 44,038 44,038 28,474 64.66% 31,646 47,469
Attorney Fees 10,000 10,000 4,349 43.49% 3,162 4,683
Capital Outlay
Capital Outlay 23,000 1,723,000 110,255 6.40% 2,416 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$ 4,362,405$ 1,936,209$ 44.38% 1,901,458$ 2,870,972$
Revenues over (under) expenses -$ -$ 264,560$ 657,679$ 85,734$
# Rounds 25,044 25,044 25,832 32,199 41,979
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