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BUDGET OVERVIEW

Golf Course Fund

FY 17/18 Adopted FY 17/18 Revised FY 18/19 Adopted

Revenue $2,575,071 $2,491,415 $2,601,454
Expenditures $2,575,071 $2,491,415 $2,601,454

Balance $0 $0 $0

FY 2017/2018 Revised Budget

Rounds for the FY 2017/2018 Revised Budget are expected to reach 45,000, which is 6,000
less than what was projected in the adopted budget. This is due to wet weather in the fall and
early winter, as well as the closure of the course for the construction of the TexRail bridge
replacement. Correspondingly, revised revenues for Iron Horse Golf Course are expected to
decrease by $83,656 in comparison to the FY 2017/2018 Adopted Budget. Most of this
decrease is due to a decline in Green Fee revenue in the amount $134,000. In correlation to the
Green Fee revenue, there was a decline in Carts and Food and Beverage revenue in the
amount of $49,039. The decline in revenue was partially off-set by an increase in revenue of
$91,000 for the Pro Shop.

With the decrease in revenues, staff cut back on operating costs to make up for the deficit.
Operating costs were revised to $2,327,447, a decrease of $83,656 from the FY 2017/2018
Adopted Budget. This decrease is mostly due to cuts in capital purchases that will be delayed
into the next fiscal year.

FY 2018/2019 Adopted Budget

Rounds are expected to reach 50,000 a decrease of 1,000 rounds from the FY 2017/2018
Adopted Budget, but an increase of 5,000 rounds over the FY 2017/2018 Revised Budget.
Revenues are expected to increase by $26,383. Green fees are expected to be in-line with the
2017/2018 Adopted Budget. Revenue related to the Pro Shop is expected to increase over the
adopted budget by $21,500.

Projected expenditures are forecasted to increase by $26,383. The Adopted budget includes
$103,638 to complete maintenance projects around the course, including: tee box leveling on
5 of the holes, re-sod tee box #1, re-sod #11 fairway, fix drainage and re-sod areas on #18
and #3, provide course directional signage, minor drainage improvements, cart path flat work
and rock edging along the cart path between holes #7 and #17.

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