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Revised 12/4/07 <br />• <br />Fund 619 <br />Blackthorn Golf Course <br />Operations Budget <br />for Calendar Year 2008 <br /> 2008 <br /> Budget <br />Beginning Cash @ 1/1 (est. for 2008) $179,511 <br />Revenue: <br />Rounds (25,000) <br />Greens Fees 643,713 <br />Golf Cart Income 225,232 <br />Membership/Tee Time Revenue 85,200 <br />Driving Range Income 40,000 <br />Other Income 89,000 <br />Lesson Instruction 8,500 <br />Pro Shop Sales 260,200 <br />Food & Beverage Sales 265,563 <br />Total Revenue 1,617,408 <br />Less Cost of Sales: <br />Pro Shop Merchandise 169,130 <br />Concessions Food & Beverages 84,980 <br />Total Cost of Sales 254,110 <br />Total Revenue less Cost of Sales 1,363,298 <br />Operating Expenses: <br />Golf Course Maintenance 541,284 <br />Administration 160,633 <br />Golf Operations/Pro Shop 433,344 <br />Concessions 58,319 <br />- Management 96,000 <br />Total Operating Expenses 1,289,580 <br />Net Operating Income 73,718 <br />Capital Items 8 Debt Service: <br />Add: <br />Transfer of Funds from TIF <br />Less: <br />Capital Items <br />Debt Service <br />Change in Cash <br />Net Change in Assets & Liabilities <br />Ending Cash @ End of Period <br />Annual Sinking Fund Contribution (2.5% of Revenue) <br />Cumulative Sinking Fund <br />Reconciliation of Ending Cash Balance <br />Operating & Capital Cash <br />Cumulative Sinking Fund <br />Ending Cash Balance <br />C7 <br />651, 500 <br />140,000 <br />651, 500 <br />(66,282) <br />0 <br />$113,229 <br />40,435 <br />120,774 <br />(7,545) <br />120, 774 <br />$113, 229 <br /> <br />F:\DATA\SHARE\ECONDEV\FPM\Budgets\Budget 2008\BGCFUND 619.x1s12/4/2007 <br />