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

  • Lady Bird Johnson Municipal Golf Course was leased to Touchstone Golf, a golf course management company
  • Touchstone Golf began operating the golf course on January 1, 2018
  • Ten Year Lease extension granted 1/1/2023 running through 12/31/2032

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.
  • Spending in Maintenance department to drive course conditions and to continue to improve the experience of our customers, will reduce Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the current FY, but result in higher revenue in future years to come.
  • Touchstone Golf has developed an operational budget which will produce $2.0 - $2.1 million in revenue off of 34,000 rounds of golf played, resulting in net earnings (EBITDA) of $350,000 which can be reinvested into the property.