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ADOPTED | BUDGET

Golf Course Fund

The Golf Course Fund accounts for the operations of Iron Horse Golf Course, the city’s public golf
course. All activities necessary to operate the course are accounted for in the fund, including, but
not limited to, administration, operations, course maintenance, financing and debt service. This fund
generates all of its revenue from charges for service from the patrons of the golf course.

Golf Course Fund FY 2021/2022 Revised Budget

Revenues / Resources

The revised revenues for FY 2021/2022 are $3,224,972. This is $381,400 or 13.4% above the FY
2021/2022 Adopted Budget. The city’s newly contracted management company, Kemper Sport
Management, made several strategic operational changes thereby recalculating the budget for FY
2021/2022. Below are the revenue highlights.

 $509,940 increase in Green Fees due to two main operational changes consisting of
minimizing discount windows to optimize prime rate utilization and adding dynamic pricing
models to adjust pricing based on demand.
 $209,588 increase associated with Driving Range fees resulting from the elimination of the
Arcis range program. Kemper will institute a range program that will improve revenue while
still preserving the condition of the driving range surface.

 ($181,225) decrease in Pro Shop revenue due to elimination of the Arcis discount
membership

 ($188,563) decrease in Food & Beverage and Cart revenue decrease in golf and catering
events at the course in the past few years.

 $51,502 in combined additional revenue resulting from Appropriation of Fund Balance for
the annual encumbrance roll and an increase in Interest Income.

Expenditures

The revised expenditures for FY 2021/2022 are $3,224,972. This is $381,400 or 13.4% above the
FY 2021/2022 Adopted Budget. Below are the expenditure highlights.

 $248,159 increase in Course Maintenance Expenses.
 $155,865 increase in General Administration costs including the addition of an accountant
position.
 ($89,910) decrease in Clubhouse cost.
 $47,455 increase in the Contribution to Fund Balance.

Balance

The revised budget for FY 2021/2022 reflects a balance of $0.

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