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3 r <br />South Bend Redevelopment Commission - Resolution No. 1652 <br />1999 Blackthorn Golf Course Budget <br />Cash Balance 10/31/98 $590,755 <br />Expenditures (net of revenue) Nov. & Dec. 1998 $109,365 <br />Projected Cash Balance 12/31/98 $481,390 <br />INCOME <br />Green Fees <br />$971,526 <br />Golf Carts <br />$239,019 <br />Membership <br />$10,125 <br />Driving Range <br />$55,813 <br />Other Golf <br />$3,721 <br />Instruction <br />$35,000 <br />Merchandise <br />$196,794 <br />Food & Beverage <br />$264,262 <br />TOTAL INCOME $1,776,260 <br />LESS: COST OF SALES <br />Instruction $31,500 <br />Pro Shop $127,916 <br />Food & Beverage $92,492 <br />TOTAL COST OF SALES $251,908 <br />NET INCOME $1,524,352 <br />NET INCOME + 12/31/98 CASH BALANCE $2,005,742 <br />EXPENSES <br />Pro Shop $311,496 <br />Course Maintenance $482,404 <br />Food & Beverage $60,727 <br />Administration $236,170 <br />TOTAL EXPENSES $1,090,797 <br />OPERATING INCOME $914,945 <br />DEBT SERVICE <br />February 1999 $213,000 <br />August 1999 $223,000 <br />TOTAL DEBT SERVICE $436,000 <br />Projected Cash Balance 12/31/99 $478,945 <br />