Quarterly Financial Report

First Quarter of FY 2021-2022

Riverside Park Golf Course Fund Current Financial Condition

Riverside Park Golf Course Fund accounts for all transactions generated by the operations of the City’s Riverside Park Golf Course. Revenue include golf fees, capital surcharge fees, golf gear/clothing, food, non-alcoholic beverage, and beer sales. Expenses include operational and capital cost for the club house and golf course.


The Riverside Park Golf Course Fund first quarter financial report reflects an ending undesignated working capital balance of $743K, which represents approximately 8 months of the Riverside Park Golf Course Fund 2022 budgeted operating expenditures ($489K in excess reserve – above the 3-month minimum fund balance reserve policy). The projected ending fund balance is 14 percent or $123K less than the amended year-end working capital balance of $883K.


At the end of the first quarter, expenses exceed revenues by $180K, primarirly due to a delay in annual membership billing and encumbrance of rental contracts at the beginning of the fiscal year.

Riverside Park Golf Course


Revenues vs Expenditures

  • Golf Sales are projected to come in under budget due to a decrease in golf rounds played and membership fees collected.
  • Beverage sales are projected to come in under budget due to less rounds played.
  • Food and Merchandise sales are projected to come in over budget based on current sales trends.
  • Capital Replacement Surcharges are projected to come in under budget due to a decrease in golf rounds played.

  • Personnel Costs are projected to come in in line with budget.
  • Supplies are projected to come in under budget primarily due to chemical supplies and seed, sod & plants line items.
  • Contractual Services are projected to come in under budget due to lights & power.
  • Costs of Goods Sold are projected to come in under budget due to a decrease in beverage sales.
  • Golf Sales are coming in under budget due to a decrease in golf rounds played and membership fees collected.
  • Food, Beverage, and Merchandise sales are coming in under budget due to a decrease in golf rounds played.
  • Capital Replacement Surcharges are coming in under budget due to a decrease in golf rounds played.
  • Supplies are coming in over budget due to chemical supplies.
  • Maintenance is coming in under budget due to the software maintenance line item. The GPS system in carts has not been implemented, therefore, there will be no related software maintenance costs until such time.
  • Contractual Services are coming in over budget due to encumbering annual lease contracts at the beginning of the fiscal year.
  • Cost of Goods Sold is coming in over budget due to merchandise purchases. Merchandise purchases are typically made in bulk to cover the Spring and Summer months when there is more activity at the Golf Course.
  • Capital Outlay is coming in over budget due to the timing of expenditures. These purchases are made irregularly throughout the fiscal year.

Riverside Park Golf Course

Budget Amendments

As of the first quarter of FY 2021-22, the Riverside Park Golf Fund Budget has been amended once in the amount of $9.8K for the FY 2020-21 carryover encumbrances (these encumbrances were not included in this financial report since the funding for the FY 2020-21 encumbrances came from prior year reserved fund balance of $9.8K).


As of the first quarter of FY 2022, the Riverside Park Golf Course Fund had 0 vacancies out of 10 approved full-time positions.