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OVERVIEW OF GOLF COURSE FUND

The City of North Richland Hills offers its residents and other guests an
affordable, enjoyable and high quality golfing experience through the City’s
Iron Horse Golf Course, which is privately managed by Arcis Golf of Dallas,
Texas. Iron Horse is an 18-hole Dick Phelps designed championship
course. The 6,679-yard, par-70 course traverses a hardwood forest and
meanders alongside scenic creeks and the historic “Cotton Belt” railroad.
Consistently rated as one of the best Municipal Golf Courses in the State
of Texas, Iron Horse attracted 47,000 rounds of golf last year. In addition
to daily-fee public play, Iron Horse offers several community-oriented
programs, junior golf programs, player development and hosts multiple
tournaments sponsored by local businesses and charitable organizations.

The Golf Course Fund accounts for Iron Horse operations; including, but
not limited to the following: customer service, marketing, daily tee time and tournament scheduling, golf
instruction, full service restaurant, off site catering, merchandise sales and facility maintenance. This fund also
accounts for golf course capital improvement projects and equipment acquisition. Like the Utility and Aquatic
Park Funds, the Golf Course Fund is operated as an enterprise fund and is self-supported by the revenue it
generates. Expenses are recovered primarily from green fees, cart fee rentals, as well as food and beverage
revenues.

The total revenue estimate for 2018/2019 is $2,601,454. Expenses for 2018/2019 Golf Course Fund are
$2,601,454, which includes Cost of Goods sold and capital project transfers.

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