GOLF SERVICES
VARIANCE 2024 BUDGET
VARIANCE 2024 BUDGET VS. 2023 PROJ
FINAL 2021
FINAL 2022 BUDGET 2023 PROJECTIONS 2023 BUDGET 2024
%
%
VS. 2023 BUDGET
REVENUE Investment Income Charges for Services
$4,584
$25,654
$28,900 2,909,532
$40,800
$40,800 3,641,305 1,090,476
$0
0.00% 19.03% 17.12% 18.63% -10.05% 13.84% 18.08% 11.95% -1.34% 17.20% 11.03% -49.98%
$11,900 731,773 195,621
41.18% 25.15% 21.86%
3,614,267 1,046,421
2,904,938 894,045 54,712 20,350 138,066 4,037,765
3,059,205
582,100 159,400 17,634 (2,200) 22,954 779,888
Sales
894,855 80,650
931,076 94,666 21,900 165,817
Rental Income
124,578 26,950 178,227
112,300 19,700 188,771
31,650 39.24%
Alternative Revenue
17,600 162,117
2,100
11.93% 16.44%
Miscellaneous Total Revenue
26,654
4,995,027
4,093,654
4,313,464
5,093,352
999,698 24.42%
EXPENSES Wages & Benefits
1,556,608
1,736,242
1,990,456 484,280 775,549
1,973,086 $2,208,820
235,734
218,364 57,226 194,577
10.97% 11.82% 25.09% -0.39% 0.00% 0.00% 0.00% 13.98%
Supplies
443,394 941,529 121,827
523,741 821,611 110,170
548,855 827,731 98,069
541,506 970,126 108,887
(7,349)
Contractual Services
142,395
Utilities
109,311
10,818 (1,599)
(424)
Capital Projects Miscellaneous
170
1,600
3,199
1,600
0 0 0
0 0
0.00% 0.00% 11.01%
Debt Service
Total Expenditures Surplus/(Deficit) Before Transfers Transfer to Capital Surplus/(Deficit)
3,063,358 $1,931,669
3,191,934 $845,831
3,361,196 $732,458
3,450,940 $862,524
3,830,939 $1,262,413
379,999 $399,889
469,743
46.36% $529,955 72.35%
($1,931,669)
($845,831)
($732,458)
($862,524)
($1,262,413)
(399,889)
46.36% (529,955)
72.35% 0.00%
$0
$0
$0
$0
$0
$0
0.00%
$0
Fund Balance $842,081 Total revenue in 2024 is projected to increase 24.4% or $999,700 compared to the 2023 budget, while expenses are budgeted to increase $469,700 or 14%. The significant increase in revenues is mainly due to Springbrook Golf Course being open for the entire 2024 season after renovations completed in late 2022 required the course to delay opening until mid-2023. Expenses increased compared to the 2024 budget due to increases in labor costs resulting from Springbrook being open for the entire season in 2024, increases in wages/benefits due to the increase in minimum wage, which impacts the majority of clubhouse staff, plus inflationary increases in supply and services costs. With both courses expected to be fully open for an entire season, the overall operation is budgeted to break even in 2024, which includes a transfer of $1,262,400 to capital from surplus revenues. The 2024 budget does not include any principal or interest payments, as the last payment on previous golf debt was made in 2019. $842,081 $842,081 $842,081 $842,081
2024 BUDGET 72
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