07-2018 Country Club_Preliminary as of 9-5-18The Village of North Palm Beach
Country Club Budget Summary (Preliminary)
FY 2017-2018
Revenue
FY 2018
Original
Budget
FY 2018
Revised
Budget
Current YTD
(July 2018) % of Budget
Prior Year
(July 2017)
Greens fee/cart rentals/membership fees 1,742,611$ 1,742,611$ 1,741,806$ 99.95% 2,192,114$
Golf Shop revenues 239,500 239,500 213,593 89.18% 270,645
Driving range revenues 238,524 238,524 265,441 111.28% 277,718
Restaurant revenues - - - 0.00% 32,595
Interest revenues 10,000 10,000 7,519 75.19% 8,856
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 15,798 263.30% 10,966
Total Revenues 2,662,405$ 4,362,405$ 2,263,606$ 51.89% 2,792,895$
Expenses
Personnel Costs 581,761 581,761 548,093 94.21% 590,475
Operating Costs ②
Golf Course Maintenance 1,149,822 1,149,822 937,147 81.50% 949,138
Golf Shop & Range 421,939 421,939 292,049 69.22% 366,464
Food & Beverage 16,600 16,600 41,100 247.59% 48,923
Country Club Administration 12,200 12,200 13,933 114.21% 18,607
Clubhouse & Grounds 4,886 4,886 61,207 1252.71% 93,474
Insurance & General Liability 44,038 44,038 35,592 80.82% 39,557
Attorney Fees 10,000 10,000 13,168 131.68% 3,650
Capital Outlay
Capital Outlay 23,000 1,723,000 845,204 49.05% 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$ 2,986,574$ 68.46% 2,322,190$
Revenues over (under) expenses -$ -$ (722,968)$ 470,705$
# Rounds 25,044 25,044 25,832 37,750
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