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GOLF COURSE BUDGET STATUS
<br /> APRIL 30, 1991
<br /> DESCRIPTION CONTRACT ACTUAL ESTIMATED
<br /> BUDGET AMOUNTS ACTUAL REMAINING TO COMPLET
<br /> Construction Costs
<br /> ------------------
<br /> 18-Hole Course w/irrigation $1,143,500 $1,181,293 $1,171,409 ($27,909) 88,660
<br /> Clubhouse/Furnishings/Architect/Engineer* 425,000 399,779 274,500 150,500 174,047
<br /> (includes incoming rd and parking)
<br /> Maintenance Building 80,000 - 54,000 73,854 6,146 33,330
<br /> Equipment 200,000 115,000 129,160 70,840 48,632
<br /> Golf Carts (20 units) 70,000 - 70,000 1,080
<br /> Pre-opening Maintenance 87,000 74,199 12,801 20,000
<br /> Septic and Water to Clubhouse 30,000 17,503 15,287 14,714 0
<br /> Benches, Pins, Score Cards, Etc. 10,000 180 9,820 6,677
<br /> SUBTOTAL CONSTRUCTION COSTS $2,045,500 $1,767,575 $1,738,588 $306,912 $372,426
<br /> Other Costs
<br /> 5()tingency $100,000 $55,876 $44,124 20,292
<br /> )Z,)ign Fees 130,000 . D,v 'o l vf-1 130,138 ($138) 0
<br /> Financing Fees 88,500 �`� 45,094 43,406 5,000
<br /> Capitalized Interest (2 yrs) 350,157 212,688 137,469 151,920
<br /> Less: Funds on Hand (54,000) (54,000) 0
<br /> Interest Earnings (60,157) (139,885) 79,728 (2,000)
<br /> BOND ISSUE/TOTAL BUDGET $2,600,000 $1,767,575 $2,042,499 $557,501 $547,638
<br /> Assumptions:
<br /> Construction Term May, 1990 through October, 1990
<br /> Course Open - May 30, 1991
<br /> Analyze renting golf carts vs purchasing golf carts
<br /> *Clubhouse contract amount includes an estimate of $40,000
<br /> for BWBR architectal services.
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