09-2018 Country Club_Preliminary as of 12-10-18The Village of North Palm Beach
Country Club Budget Summary (Preliminary)
FY 2017-2018
Revenue
FY 2018
Original
Budget
FY 2018
Revised
Budget
Current YTD
(Sept 2018) % of Budget
Greens fee/cart rentals/membership fees 1,742,611$ 1,742,611$ 1,743,760$ 100.07%
Golf Shop revenues 239,500 239,500 217,148 90.67%
Driving range revenues 238,524 238,524 276,255 115.82%
Restaurant revenues - - - 0.00%
Interest revenues 10,000 10,000 9,461 94.61%
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 17,394 289.89%
Total Revenues 2,662,405$ 4,362,405$ 2,283,466$ 52.34%
Expenses
Personnel Costs 581,761 581,761 583,666 100.33%
Operating Costs ②
Golf Course Maintenance 1,149,822 1,149,822 1,134,005 98.62%
Golf Shop & Range 421,939 421,939 310,745 73.65%
Food & Beverage 16,600 16,600 41,975 252.86%
Country Club Administration 12,200 12,200 17,192 140.92%
Clubhouse & Grounds 4,886 4,886 68,350 1398.89%
Insurance & General Liability 44,038 44,038 42,711 96.99%
Attorney Fees 10,000 10,000 13,772 137.72%
Capital Outlay③
Capital Outlay 23,000 1,723,000 1,363,664 79.14%
Debt Service
Debt Service 398,159 398,159 398,159 100.00%
Reserves
Contingency - - - 0.00%
Total Expenses 2,662,405$ 4,362,405$ 3,974,239$ 91.10%
Revenues over (under) expenses -$ -$ (1,690,772)$
# Rounds 25,044 25,044 25,832
Current YTD Notes:
① Unbudgeted item: Insurance Refunds
③ Golf Course Renovation Project ($1.7 million loan from General Fund)
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 were still operating out of the main clubhouse
until 5/1/18.