12-06-1999 WS & TNT - Laserfiche WebLink

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SUNSHINE PRINTING TEL NO .305 451-3752 Dec 02 ,99 16 :50 P .01 4t-Cit MEMO TO: Chuck Whiting FROM: John Hammerschmidt TOPIC: Golf Course DATE: 12/01/99 On December 6th, 1999 I have requested one hour to address golf course issues.I expect to cover the 1999 revenues and expenditures, 1999 projects and the status of these projects,the 2000 budget,and recommendations for possible expansion of the golf course business.Due to the extended season we have had in November and the fact I cut a planned vacation in half,which I am now on,I will not have the entire packet of information available in time for this week's packet.I will do a summary of what I expect to talk about and put it in the December 6s'packet.On Monday at the work session I will provide the rest of the Information. Estimated 1999 revenues and expenditures: Gross revenues from golf course operations were once again 60%to 90%more than other executive courses in the twin city area.Gross revenues from the practice range including lessons were about$5,000 per station.Area practice ranges that we were able to get numbers for ranged from$2,000-$4000 per station. Our net income(profit)for the entire golf course operation was well above the national average of 20%. Capital expenditures,(including a new pump station,a 3500 sq.ft.storage facility,cart paths going completely around the course,and various equipment replacement expenses),plus principal and interest payments will show a negative cash flow. The loan the council is considering will put the course in a position of having the cash on hand equal to what the bond covenants require. Project status: Tee expansion on 3r4 hole will start 3-00. Paving cart path areas---Hold due to budget Tree planting from tree trust----Hold due to budget Replacement of irrigation satellites—Hold due to budget Replacement practice range mats---Hold due to budget Ongoing soil repair---Cut back 50%due to budget Landscaping on all tee boxes--Hold due to budget Equipment replacement---Hold due to budget Clubhouse carpeting--Hold due to budget Bridge Replacement—Hold due to budget* New tee on 66 hole—Hold due to budget* Berming around fence line--Hold due to budget* Irrigation expansion---Hold due to budget Additional clubhouse office space—Hold duo to budget Maintenance Bldg shower and lockers--4-00. Net replacement—Hold due to budget Security cameras and electronic front gate—Hold due to budget Bathroom enclosures—Hold due to budget New riding carts---Hold due to budget