Page 175 - CITY OF AZLE, TEXAS

GOLF COURSE FUND – IN BRIEF

REVENUES

Total golf revenue for FY 2022-23 is projected at $1,738,000 and represents an increase of
$121,000 from the original FY 2021-22 budget. This is attributed to an increase in the level of
golf play at the course. Projected revenue does not include any funds derived from natural gas
well leases at the golf course. Overall golf related revenues are based on an expected 46,000
rounds of golf. The following chart is a graphical representation of operating revenue and
expenses for the golf course since FY 2018-19.

As shown by the chart, revenue has been in an upward trend for several years. Based on recent
trends in the level of play, Staff expects the golf course to continue to perform in this manner.

EXPENSES

Total Golf Course Fund expenses as approved by the Council are projected at $1,643,407,
which is an increase of $121,405 over the original FY 2021-22 budget. The majority of this
increase is attributable to projected increases in employee benefits, funding for annual step
increases, funding for the compensation plan update, the addition of a second Assistant Golf
Professional position, various equipment purchases, increases for resale items needed due to
the increased levels of play, and funds to address various maintenance issues.

Operating revenues are projected to exceed operating expenses by $94,593. As previously
mentioned in this document, the Golf Course Fund is set to make a transfer in the amount of
$200,000 – $110,000 to the General Fund and $90,000 to the Utility Fund. The purpose of the
transfer is to continue the process of paying down the remaining amounts of an outstanding
advance of $342,616 from the General Fund and $275,753 from the Utility Fund. The fund is
projected to have an ending balance of $494,714 which represents a decrease of $105,407
(17.6%), however, this decrease is not expected to have a negative impact on golf operations.

City of Azle FY 2022-2023 Budget 164