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 | $ 229,060 | $ 253,008 | $ 230,714 | $ 192,738 |
| Personal | $ 170,070 | $ 159,539 | $ 149,592 | $ 144,407 |
| Pensions (Half) | $ 24,400 | $ 26,850 | $ 26,850 | $ 26,550 |
| Operating Exp | $ 164,277 | $ 202,697 | $ 192,755 | $ 159,882 |
| Total Expenses | $ 358,747 | $ 389,086 | $ 369,197 | $ 330,839 |
| Operating Loss | $(129,687) | $(136,078) | $(138,483) | $(138,101) |
| Subsidy | $ 110,000 | $ 110,000 | $ 50,000 | $ 50,000 |
| Net Loss | $ (19,687) | $ (26,078) | $ (88,483) | $ (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 | $ 718,575 | $ 826,672 | $ 592,287 | $ 615,743 |
| Personal | $ 364,292 | $ 330,600 | $ 319,610 | $ 316,154 |
| Pensions (Half) | $ 72,470 | $ 78,370 | $ 78,369 | $ 74,519 |
| Operating Exp | $ 118,081 | $ 108,366 | $ 111,025 | $ 101,394 |
| Capital Outlay | $ 37,442 | $ 54,534 | $ 51,674 | $ – |
| Alloc. Overhead | $ 99,650 | $ 97,700 | $ – | $ – |
| Total Expenses | $ 691,935 | $ 669,570 | $ 560,678 | $ 492,067 |
| Net Income | $ 26,640 | $ 157,103 | $ 31,609 | $ 123,677 |
Recent Comments