Page 175 - CITY OF AZLE, TEXAS

GOLF COURSE FUND – IN BRIEF

REVENUES

Total golf revenue for FY 2024-25 is projected at $2,121,500 and represents an increase of
$157,000 from the original FY 2023-24 budget. This is attributed to a projected full year of
increased golf rates, increased merchandise sales, increased food and beverage sales, and
increased interest earnings. 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
45,000 rounds of golf. The following chart is a graphical representation of operating revenue
and expenses for the golf course since FY 2020-21.

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 $2,007,768,
which is a decrease of $46,105 as compared the original FY 2023-24 budget. This decrease is
mainly due to the completion of several capital projects in the previous fiscal year. Funding for
the completion of the driving range renovation project, projected increases in employee benefits,
annual step increases, a 5% market adjustment to the salary plan, and various equipment
purchases is included in this budget.

Revenues are projected to exceed expenses by $113,732. As previously mentioned in this
document, the Golf Course Fund is set to make a transfer in the amount of $218,370 –
$122,616 to the General Fund and $95,754 to the Utility Fund. The purpose of the transfer is to
complete the process of paying down the remaining amounts of an outstanding advance from
the General Fund and the Utility Fund. The fund is projected to have an ending balance of
$457,828 which represents a decrease of $104,638 (18.6%), however, this decrease is not
expected to have a negative impact on golf operations.

City of Azle FY 2024-2025 Budget 164