Rick's Blog

Other financial trouble spots for city of Pensacola

Rick Outzen

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

 

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