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06-2019 Country Club_Preliminary as of 6-30-19
The Village of North Palm Beach Preliminary Country Club Budget Summary 3rd Quarter Ending June 30, 2019 Revenue Current YTD (June 2019) FY 2019 Budget % of Budget Prior Year (June 2018) Actual 9/30/18 Greens fee/cart rentals/membership fees 768,717$ 2,129,209$ 36.10% 1,741,806$ 1,743,760$ Golf Shop revenues 85,309 159,400 53.52% 203,030 217,148 Driving range revenues 134,909 300,000 44.97% 255,126 276,244 Restaurant revenues 2,725 - 0.00% - - Interest revenues 804 10,000 8.04% 10,968 13,874 Sale of Surplus - - 0.00% 19,448 19,448 Appropriated Retained Earnings - 275,647 0.00% - - Miscellaneous 5,097 342,336 1.49% 14,222 17,487 Total Revenues 997,561$ 3,216,592$ 31.01% 2,244,601$ 2,287,962$ Expenses Personnel Costs 365,022 828,298 44.07% 480,084 573,017 Operating Costs Golf Course Maintenance 847,404 1,163,500 72.83% 842,576 1,159,940 Golf Shop & Range 293,406 343,200 85.49% 306,151 310,952 Food & Beverage ②22,289 12,314 181.01% 40,748 41,979 Country Club Administration 8,545 13,700 62.37% 13,534 17,192 Clubhouse & Grounds 47,148 29,000 162.58% 57,499 68,350 Insurance & General Liability 20,276 46,555 43.55% 32,033 42,711 Attorney Fees 4,524 10,000 45.24% 4,485 13,772 Capital Outlay Capital Outlay ①212,799 336,336 63.27% 545,118 1,363,664 Debt Service Debt Service 199,079 433,689 45.90% 199,079 405,942 Reserves Contingency - - 0.00% - - Total Expenses 2,020,492$ 3,216,592$ 62.81% 2,521,307$ 3,997,519$ Revenues over (under) expenses (1,022,931)$ -$ (276,707)$ (1,709,557)$ # Rounds 7,433 40,000 25,832 25,832 ① Carryover from previous year for Golf Course Improvement Project ② Property tax assessment for f&b lease ($8,589.50); Broker Commission ($10k) Revised Budget 3,216,592$ 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$