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12-2018 Country Club_Preliminary as of 12-31-18
The Village of North Palm Beach Preliminary Country Club Budget Summary 1st Quarter Ending December 2018 Unaudited Revenue Current YTD (Dec 2018) FY 2019 Budget % of Budget Prior Year (Dec 2017) Actual 9/30/18 Greens fee/cart rentals/membership fees 221,750$ 2,129,209$ 10.41% 806,526$ 1,743,760$ Golf Shop revenues 24,298 159,400 15.24% 71,857 217,148 Driving range revenues 11 300,000 0.00% 72,339 276,244 Interest revenues ①- 10,000 0.00% 2,495 13,874 Sale of Surplus - - 0.00% - 19,448 Appropriated Retained Earnings - 275,647 0.00% - - Miscellaneous 1,400 342,336 0.41% 4,369 17,487 Total Revenues 247,460$ 3,216,592$ 7.69% 957,586$ 2,287,962$ Expenses Personnel Costs 75,167 828,298 9.07% 194,325 571,863 Operating Costs Golf Course Maintenance 298,732 1,163,500 25.68% 278,156 1,159,940 Golf Shop & Range 67,389 343,200 19.64% 95,699 310,952 Food & Beverage 9,694 12,314 78.72% 21,460 41,979 Country Club Administration 854 13,700 6.24% 4,693 17,192 Clubhouse & Grounds 11,659 29,000 40.20% 27,557 68,350 Insurance & General Liability 6,759 46,555 14.52% 10,678 42,711 Attorney Fees 390 10,000 3.90% 1,112 13,772 Capital Outlay Capital Outlay ②106,623 336,336 31.70% - 1,363,664 Debt Service Debt Service - 433,689 0.00% - 405,942 Reserves Contingency - - 0.00% - - Total Expenses 577,266$ 3,216,592$ 17.95% 633,680$ 3,996,365$ Revenues over (under) expenses (329,807)$ -$ 323,905$ (1,708,403)$ # Rounds - 40,000 9,569 25,832 ① Interest allocation not yet complete ② Golf Course Improvement Project will be capitalized when project is complete Revised Budget 3,216,592$ Less: Original Budget (2,880,256) Budget Amendments 336,336$ Budget Amendments: FY'18 Open P.O. carryover 154,415$ FY'18 unused capital funds carryover 181,921 Total Budget Amendments 336,336$