HomeMy WebLinkAboutSpecial 2011-09-27 Item 1B - Fund Status9/26/2011
40 Years in the Hospitality Industry
16 years with the worlds largest Private Club Management
company, Club Corp.
12 years opening and managing facilities worldwide.
4 years at The Columbia Tower
4CW
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G O L F L 1 N KS
Fund Status: How we got here
Golf Operations
Bond Payback
Course Construction Closure
Economy
Weather Patterns
4=0
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G OLF L N KS
1H
9/26/2011
Rounds Projected for 2003 Bond
60,000 Rounds with 2% Growth Annually
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GOLf :'INKS
Policy Issues
1 Maintenance Building transfer of $650,000
2 Admission Tax
3 Director's Salary
4 Maintenance Building Cost
5 2003 Bond
6 Indirect Cost Allocation
1
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5
New Clubhouse
Year 2000 1
2001 1 2002 L 2003 1
2004 1
2005 1
2006 1
2007 1
2 008 1
2009 1
2010 1
2011 1
;Total 66,317
60,3111 57,4901 35,7641
53.0701
54,4491
55,1951
55,446
53,5651
51.9221
49,2021
50,0001
Projected Rounds
60,0001
61,200
62,424
63,6721
64,9461
66245
67,5701
68,9211
Rounds Under Projections
(6,930)1
(6,751)1
(7229)
(8,226)
(11,381)1
(14,323)1
(18,368)1
(18,921)
Average Cost of Round wicartl
241
241
241
24
241
24
241
24
Re (166,320)1
(162,024)1
(173,496)1
(197,436))
(273,142)1
(343,748)
(440
(454,107)1
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GOLf :'INKS
Policy Issues
1 Maintenance Building transfer of $650,000
2 Admission Tax
3 Director's Salary
4 Maintenance Building Cost
5 2003 Bond
6 Indirect Cost Allocation
1
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5