The city’s Osceola Golf Course continues to lose money, even the the taxpayers subsidizing the facility. In his report, CFO Dick Barker tried to explain the $23,900 decrease in revenue from the first half of FY 2017 as being due to the “extremely cold winter/early spring experience.” However, the golf course had lost an average of $180K in the first six months of the past four years. The city more than doubled its subsidy the past two years.
FY 2018 | FY 2017 | Fy 2016 | FY 2015 | |
Revenue | Â $Â Â 229,060 | Â $Â 253,008 | Â $Â Â 230,714 | Â $Â Â 192,738 |
Personal | Â $Â Â Â 170,070 | Â $Â Â 159,539 | Â $Â Â 149,592 | Â $Â Â 144,407 |
Pensions (Half) | Â $Â Â Â 24,400 | Â $Â Â 26,850 | Â $Â Â 26,850 | Â $Â Â Â Â 26,550 |
Operating Exp | Â $Â Â Â 164,277 | Â $Â 202,697 | Â $Â Â 192,755 | Â $Â Â 159,882 |
Total Expenses | Â $Â Â Â 358,747 | Â $Â 389,086 | Â $Â Â 369,197 | Â $Â 330,839 |
Operating Loss | Â $(129,687) | Â $(136,078) | Â $(138,483) | Â $(138,101) |
Subsidy | Â $Â Â Â 110,000 | Â $Â Â 110,000 | Â $Â Â Â Â 50,000 | Â $Â Â Â Â 50,000 |
Net Loss | Â $Â Â Â Â (19,687) | Â $Â Â (26,078) | Â $Â Â (88,483) | Â $Â Â (88,101) |
BTW: The Local Option Sales Tax Series IV plan allocates $1.1 million for improvements to the golf course.
The Inspection Service revenues are down $108,100. The city construction boom may be waning.
FY 2018 | FY 2017 | FY 2016 | FY 2015 | |
Revenue | Â $Â 718,575 | Â $Â 826,672 | Â $Â 592,287 | Â $Â 615,743 |
Personal | Â $ 364,292 | Â $ 330,600 | Â $Â 319,610 | Â $Â 316,154 |
Pensions (Half) | Â $Â Â Â 72,470 | Â $Â Â Â 78,370 | Â $Â Â Â 78,369 | Â $Â Â Â 74,519 |
Operating Exp | Â $Â 118,081 | Â $Â 108,366 | Â $Â 111,025 | Â $Â 101,394 |
Capital Outlay | Â $Â Â Â 37,442 | Â $Â Â Â 54,534 | Â $Â Â Â 51,674 | Â $Â Â Â Â Â Â Â Â Â Â Â – |
Alloc. Overhead | Â $Â Â Â 99,650 | Â $Â Â Â 97,700 | Â $Â Â Â Â Â Â Â Â Â Â Â – | Â $Â Â Â Â Â Â Â Â Â Â Â – |
Total Expenses | Â $Â 691,935 | Â $Â 669,570 | Â $ 560,678 | Â $ 492,067 |
Net Income | Â $Â Â 26,640 | Â $Â 157,103 | Â $Â Â Â 31,609 | Â $Â 123,677 |