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PROPOSED OPERATING <br />REVENUE & EXPENSE <br />(BASED ON 40,000 ROUNDS) <br />REVENUE <br />i <br />Green Fees <br />Golf Cart Revenue <br />Driving Range <br />Pro Shop <br />Food & Beverage <br />I.D. Cards <br />lembership <br />TOTAL REVENUE <br />416,510 <br />254,646 <br />20,000 <br />80,000 <br />40,000 <br />10,000 <br />35,000 <br />856,156 <br />02/20/87 <br />EXPENSE <br />Golf Course Maintenance 316,381 <br />clubhouse 298,348 <br />'?ood & Beverage 83,011 <br />IFood & Beverage <br />(Cost of Goods Sold) 32,000 <br />?ro Shop (Cost of Goods Sold) 68,000 <br />Ieneral & Administrative 34,511 <br />bepreciation 114,230 <br />TOTAL EXPENSE 946,481 <br />ESTIMATED PROFIT/(LOSS) (90,325) <br />(Net Cost of Goods Sold) <br />The above profit and loss does not include interest expense <br />which does not have to be paid until September 1, 1989 and <br />will be $201,360 at that time. <br />Director Baird emphasized that when play reaches 55,000 <br />rounds, it would cover the $201,360 debt service which does not <br />have to be paid until September 1, 1989. <br />68 <br />BOOK 6 Pr$ -i 44 <br />