04-2018 Country Club_Preliminary as of 5-10-18The Village of North Palm Beach
Country Club Budget Summary (Preliminary)
FY 2017-2018
Revenue
FY 2018
Original
Budget
FY 2018
Revised
Budget
Current YTD
(Apr 2018) % of Budget
Prior Year
(Apr 2017)
Actual
9/30/17
Greens fee/cart rentals/membership fees 1,742,611$ 1,742,611$ 1,741,900$ 99.96% 1,904,003$ 2,302,642$
Golf Shop revenues 239,500 239,500 188,231 78.59% 202,694 296,119
Driving range revenues 238,524 238,524 224,569 94.15% 223,860 303,994
Restaurant revenues - - - 0.00% 31,295 32,595
Interest revenues 10,000 10,000 2,467 24.67% 5,704 10,274
Sale of Surplus - - 2,449 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 11,161 186.01% 9,435 11,081
Total Revenues 2,662,405$ 4,362,405$ 2,170,776$ 49.76% 2,376,992$ 2,956,706$
Expenses
Personnel Costs 581,761 581,761 411,246 70.69% 411,701 649,433
Operating Costs ②
Golf Course Maintenance 1,149,822 1,149,822 565,431 49.18% 658,192 1,137,008
Golf Shop & Range 421,939 421,939 249,475 59.13% 285,804 418,621
Food & Beverage 16,600 16,600 37,478 225.77% 31,734 64,288
Country Club Administration 12,200 12,200 10,988 90.07% 16,170 20,109
Clubhouse & Grounds 4,886 4,886 51,293 1049.80% 59,531 118,380
Insurance & General Liability 44,038 44,038 24,915 56.58% 27,690 47,469
Attorney Fees 10,000 10,000 3,062 30.62% 3,065 4,683
Capital Outlay
Capital Outlay 23,000 1,723,000 85,255 4.95% 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$ 1,638,221$ 37.55% 1,695,381$ 2,870,972$
Revenues over (under) expenses -$ -$ 532,555$ 681,611$ 85,734$
# Rounds 25,044 25,044 25,832 103.15% 28,216 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