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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