08-2018 Country Club_Preliminary as of 10-5-18The Village of North Palm Beach
Country Club Budget Summary (Preliminary)
FY 2017-2018
Revenue
FY 2018
Original
Budget
FY 2018
Revised
Budget
Current YTD
(Aug 2018) % of Budget
Prior Year
(Aug 2017)
Greens fee/cart rentals/membership fees 1,742,611$ 1,742,611$ 1,741,831$ 99.96% 2,260,484$
Golf Shop revenues 239,500 239,500 215,138 89.83% 283,792
Driving range revenues 238,524 238,524 276,216 115.80% 295,111
Restaurant revenues - - - 0.00% 32,595
Interest revenues 10,000 10,000 7,519 75.19% 9,684
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 16,146 269.10% 11,099
Total Revenues 2,662,405$ 4,362,405$ 2,276,299$ 52.18% 2,892,766$
Expenses
Personnel Costs 581,761 581,761 564,711 97.07% 638,046
Operating Costs ②
Golf Course Maintenance 1,149,822 1,149,822 1,035,533 90.06% 1,043,539
Golf Shop & Range 421,939 421,939 303,886 72.02% 392,094
Food & Beverage 16,600 16,600 41,457 249.74% 56,704
Country Club Administration 12,200 12,200 14,334 117.49% 19,584
Clubhouse & Grounds 4,886 4,886 64,405 1318.15% 108,521
Insurance & General Liability 44,038 44,038 39,152 88.90% 43,513
Attorney Fees 10,000 10,000 13,772 137.72% 4,157
Capital Outlay
Capital Outlay 23,000 1,723,000 1,278,069 74.18% 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$ 3,554,398$ 81.48% 2,518,059$
Revenues over (under) expenses -$ -$ (1,278,099)$ 374,707$
# Rounds 25,044 25,044 25,832 40,406
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 were 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