Title
ORDER APPROVING ALLING MEMORIAL GOLF COURSE ENTERPRISE FUND BUDGET, FISCAL YEAR 2018-2019
Body
WHEREAS, Chapter 19- Parks, Recreation and Tree, Section 19-18 of the City General code of Ordinance establishes the Alling Memorial Golf Course Enterprise Fund; and
WHEREAS, The Mayor is submitting to the New Haven Board of Alders the operating budget for the Alling Memorial Golf Course Enterprise Fund be and hereby is approved for fiscal year 2018-19.
Revenue & Capital Reserve
Greens Fees
600,000
Cart Rental
200,000
Season Passes
25,000
Surcharge
45,000
Restaurant Income (Rent)
12,000
Locker Rental
0
Sub-Total Revenues
882,000
Accrued Balance, 2018 season
505,285
Total Revenues and Capital Reserve
1,387,285
Operating Expenses & Capital Allocations
Management Fee (percentage NOI* - restaurant income)
660,000
Golf Cart Rentals
60,795
Sub-Total Expenses
720,795
Capital Allocations
100,000
Rolling Stock/Fleet Replacement
40,000
Total Expenses & Capital Allocations
860,795
Anticipated Balance, 2019 Season
526,490
* NOI = Gross Revenue - golf cart lease and $1.00 surcharge