Golf Fund
Description
Touchstone Golf leases and operates Lady Bird Johnson Municipal Golf Course located within Lady Bird Johnson Park under the direction of the City of Fredericksburg.
Goals and Objectives
- To continue to provide the best municipal golf experience in Texas while keeping golf affordable
- To preserve the game of golf and increase participation in the sport by men and women and kids
- To continue to develop our youth golf program through partnerships with local schools, non-profits and other area golf courses
- To attract outside events and tournaments to Fredericksburg, adding to the local economy
Golf Operational Review and Management
- Touchstone Golf began operating the golf course on January 1, 2018
- Lease extension pending approval (2023-2028)
What that means for the budget
- The budget presented has a several new proposed capital improvement projects at the golf course that will be funded out of golf course operations and not the general fund.
- Touchstone Golf has developed an operational budget which will produce $1.8 - $2.0 million in revenue off of 32,000 rounds of golf played, resulting in net earnings, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of $400,000-$500,000 which can be reinvested into the property.