Page 20 - N. Richland Hills General Budget

Office of the City Manager
CITY OF NORTH RICHLAND HILLS

Golf Fund

In November 2019, construction began on renovations to Iron Horse Golf Course. The result will be much
improved drainage, major renovation to the course, and an update to the C.A. Sanford Club House. The
project is within budget and re-opened to the public on September 19, 2020.

Revised revenue in the Golf Fund for the current fiscal year is estimated at $1.8 million which is an increase of
$212,543 from the adopted budget. This resulted from green fee revenues coming in at more than anticipated
as well as more sales in the pro shop than anticipated. Our green fees revenue is up by $22,000 and pro shop
sales are up by approximately $47,000.

The FY 2020/21 budget projects revenue of $2,727,072 based on 47,000 rounds of golf. That includes
2,000 more rounds of golf than in a normal year, as we anticipate additional rounds with the grand reopening
of the course. Proposed expenses are also $2,727,072 with maintenance of the course remaining the
largest expense at 22% of total expenses.
Conclusion

Since the recovery from the recession of 2008, the United States has seen one of the longest periods of
continuous growth. During this time period NRH has benefited from this growth with the addition of 3,500
dwelling units over the past decade and corresponding growth in our commercial sector, primarily with more
food service establishments and grocery stores. Regional economic growth and demand for housing has
fueled an increase in real estate prices that has generated increases in the appraised values for tax purposes.
This growth in tax value and tax revenue has enabled the City to keep pace with the rising costs of
supplies, equipment and materials as well as keep pace with a competitive employment market. Revenues
other than property taxes, which have been flat or on a downward trend over the past few years, are the main
concern.

While economist vary on whether or not we are headed toward an economic downturn, we have not budgeted
with the assumption of a recession. Instead, we have attempted to be reasonably conservative with our
revenue and expense projections. Should we encounter an economic downturn in fiscal year 2020/21 we will
need to revisit this budget and make the appropriate changes.

Our focus continues to be the implementation of the Vision, Goals and Objectives as identified by the City
Council. City staff at all levels have diligently worked to develop a budget that maintains our quality of services
and course of direction in spite of the economic challenges we face. As we look to the future we will continue
to seek additional and creative revenue sources, as well as more efficient ways of meeting the service
demands and quality expectations of our citizens.
Respectfully submitted,

Mark Hindman
City Manager

P.O. Box 82069  North Richland Hills, Texas 76182-0609
4301 City Point Drive  (817) 427-6003  Fax (817) 427-6016

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