Page 176 - Azle City Budget 2019

GOLF COURSE FUND – IN BRIEF

REVENUES

Total golf operating revenue for FY 2018-19 is projected at $1,145,000 which is an increase of
$28,300 from FY 2017-18. This amount does not include any funds derived from natural gas
well leases at the golf course. The anticipated increase is attributed to modest projected
increases in all revenue categories. No increases to current golf rates or annual pass prices are
included in this budget. Overall golf related revenues are based on projections derived from
historical levels of play and income per round of golf played. The following chart is a graphical
representation of operating revenue for the golf course since FY 2014-15.

The biggest contributing factor to expenses exceeding revenue in FY 2014-15 was weather.
During FY 2014-2015 there were 29 days lost to bad weather and 87 days that were impacted
by bad weather. Expenses exceeded revenue in FY 2015-16 because the customer parking lot
was reconstructed at a cost of approximately $125,000 but was funded by royalties from gas
wells drilled on the golf course rather than golf operations revenue.

EXPENSES

Golf Course Fund expenses as approved by the Council are projected at $1,146,461, which is
an increase of $58,342 over the original FY 2017-18 budget. The majority of this increase is
attributable to increased funding for various maintenance items and the purchase of new
equipment such as a range ball picker.

Operating expenses are projected to exceed operating revenues by $1,461 and the fund is
projected to have an ending balance of $230,947. This decrease is not expected to have a
negative impact on the fund.

City of Azle 2018-2019 Budget 164