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DRAFT - 08/17/18
<br />Louisville Coal Creek Golf Course
<br />25-Year Building and Equipment Renewal and Replacement Plant Fund Projections
<br />Assumptions:
<br />Building Renewal and Replacement Reserve Factor (Louisville estimate)
<br />2.00%
<br />Initial Building Replacement Value for Non -Core and Shell (Louisville estimate)
<br />$ 2,702,000
<br />Annual Building Current Replacement Value Inflation Factor
<br />3.0%
<br />Annual FF&E Replacement Value Inflation Factor
<br />3.0%
<br />Annual Sales Tax Inflation Factor
<br />3.0%
<br />Annual Non -Capital Operating Expense Inflation Factor (Cost of Government)
<br />Mr 5.0%
<br />Annual CIP Allocation Inflation Factor
<br />3.0%
<br />Annual User Fee Cost Recovery Revenue Inflation Factor
<br />L_ 1.5%
<br />1
<br />2
<br />3
<br />4
<br />5
<br />6
<br />7
<br />8
<br />9
<br />10
<br />11
<br />12
<br />13
<br />14
<br />15
<br />16
<br />17
<br />18
<br />19
<br />20
<br />21
<br />22
<br />23
<br />24
<br />25
<br />25 Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Reserve/
<br />2015
<br />2016
<br />2017
<br />2018
<br />2019
<br />2020
<br />2021
<br />2022
<br />2023
<br />2024
<br />2025
<br />2026
<br />2027
<br />2028
<br />2029
<br />2030
<br />2031
<br />2032
<br />2033
<br />2034
<br />2035
<br />2036
<br />2037
<br />2038
<br />2039
<br />Expenditures
<br />Furniture, Fixtures, and Equipment (FF&E) Replacement:
<br />FF&E Replacement Value with 5 Year Replacement Cycle
<br />$ 10,000
<br />$ 10,300
<br />$ 10,609
<br />$ 10,927
<br />$ 11,255
<br />$ 11,593
<br />$ 11,941
<br />$ 12,299
<br />$ 12,668
<br />$ 13,048
<br />$ 13,439
<br />$ 13,842
<br />$ 14,258
<br />$ 14,685
<br />$ 15,126
<br />$ 15,580
<br />$ 16,047
<br />$ 16,528
<br />$ 17,024
<br />$ 17,535
<br />$ 18,061
<br />$ 18,603
<br />$ 19,161
<br />$ 19,736
<br />$ 20,328
<br />Annual Renewal and Replacement Reserve for FF&E with 5 Year Replacement
<br />5
<br />$ 2,000
<br />$ 2,060
<br />$ 2,122
<br />$ 2,185
<br />$ 2,251
<br />$ 2,319
<br />$ 2,388
<br />$ 2,460
<br />$ 2,534
<br />$ 2,610
<br />$ 2,688
<br />$ 2,768
<br />$ 2,852
<br />$ 2,937
<br />$ 3,025
<br />$ 3,116
<br />$ 3,209
<br />$ 3,306
<br />$ 3,405
<br />$ 3,507
<br />$ 3,612
<br />$ 3,721
<br />$ 3,832
<br />$ 3,947
<br />$ 4,066
<br />$ 72,919
<br />FF&E Replacement Value with 6 Year Replacement Cycle
<br />$ 14,000
<br />$ 14,420
<br />$ 14,853
<br />$ 15,298
<br />$ 15,757
<br />$ 16,230
<br />$ 16,717
<br />$ 17,218
<br />$ 17,735
<br />$ 18,267
<br />$ 18,815
<br />$ 19,379
<br />$ 19,961
<br />$ 20,559
<br />$ 21,176
<br />$ 21,812
<br />$ 22,466
<br />$ 23,140
<br />$ 23,834
<br />$ 24,549
<br />$ 25,286
<br />$ 26,044
<br />$ 26,825
<br />$ 27,630
<br />$ 28,459
<br />Annual Renewal and Replacement Reserve for FF&E with 6 Year Replacement
<br />6
<br />$ 2,333
<br />$ 2,403
<br />$ 2,475
<br />$ 2,550
<br />$ 2,626
<br />$ 2,705
<br />$ 2,786
<br />$ 2,870
<br />$ 2,956
<br />$ 3,044
<br />$ 3,136
<br />$ 3,230
<br />$ 3,327
<br />$ 3,427
<br />$ 3,529
<br />$ 3,635
<br />$ 3,744
<br />$ 3,857
<br />$ 3,972
<br />$ 4,092
<br />$ 4,214
<br />$ 4,341
<br />$ 4,471
<br />$ 4,605
<br />$ 4,743
<br />$ 85,072
<br />FF&E Replacement Value with 7 Year Replacement Cycle
<br />$ 489,609
<br />$ 504,297
<br />$ 519,426
<br />$ 535,009
<br />$ 551,059
<br />$ 567,591
<br />$ 584,619
<br />$ 602,157
<br />$ 620,222
<br />$ 638,829
<br />$ 657,994
<br />$ 677,733
<br />$ 698,065
<br />$ 719,007
<br />$ 740,578
<br />$ 762,795
<br />$ 785,679
<br />$ 809,249
<br />$ 833,527
<br />$ 858,532
<br />$ 884,288
<br />$ 910,817
<br />$ 938,141
<br />$ 966,286
<br />$ 995,274
<br />Annual Renewal and Replacement Reserve for FF&E with 7 Year Replacement
<br />7
<br />$ 69,944
<br />$ 72,042
<br />$ 74,204
<br />$ 76,430
<br />$ 78,723
<br />$ 81,084
<br />$ 83,517
<br />$ 86,022
<br />$ 88,603
<br />$ 91,261
<br />$ 93,999
<br />$ 96,819
<br />$ 99,724
<br />$ 102,715
<br />$ 105,797
<br />$ 108,971
<br />$ 112,240
<br />$ 115,607
<br />$ 119,075
<br />$ 122,647
<br />$ 126,327
<br />$ 130,117
<br />$ 134,020
<br />$ 138,041
<br />$ 142,182
<br />$ 2,550,112
<br />FF&E Replacement Value with 9 Year Replacement Cycle
<br />$ 132,332
<br />$ 136,302
<br />$ 140,391
<br />$ 144,603
<br />$ 148,941
<br />$ 153,409
<br />$ 158,011
<br />$ 162,752
<br />$ 167,634
<br />$ 172,663
<br />$ 177,843
<br />$ 183,178
<br />$ 188,674
<br />$ 194,334
<br />$ 200,164
<br />$ 206,169
<br />$ 212,354
<br />$ 218,725
<br />$ 225,286
<br />$ 232,045
<br />$ 239,006
<br />$ 246,177
<br />$ 253,562
<br />$ 261,169
<br />$ 269,004
<br />Annual Renewal and Replacement Reserve for FF&E with 9 Year Replacement
<br />9
<br />$ 14,704
<br />$ 15,145
<br />$ 15,599
<br />$ 16,067
<br />$ 16,549
<br />$ 17,045
<br />$ 17,557
<br />$ 18,084
<br />$ 18,626
<br />$ 19,185
<br />$ 19,760
<br />$ 20,353
<br />$ 20,964
<br />$ 21,593
<br />$ 22,240
<br />$ 22,908
<br />$ 23,595
<br />$ 24,303
<br />$ 25,032
<br />$ 25,783
<br />$ 26,556
<br />$ 27,353
<br />$ 28,174
<br />$ 29,019
<br />$ 29,889
<br />$ 536,081
<br />FF&E Replacement Value with 10 Year Replacement Cycle
<br />$ 10,982
<br />$ 11,311
<br />$ 11,651
<br />$ 12,000
<br />$ 12,360
<br />$ 12,731
<br />$ 13,113
<br />$ 13,506
<br />$ 13,912
<br />$ 14,329
<br />$ 14,759
<br />$ 15,202
<br />$ 15,658
<br />$ 16,127
<br />$ 16,611
<br />$ 17,110
<br />$ 17,623
<br />$ 18,152
<br />$ 18,696
<br />$ 19,257
<br />$ 19,835
<br />$ 20,430
<br />$ 21,043
<br />$ 21,674
<br />$ 22,324
<br />Annual Renewal and Replacement Reserve for FF&E with 10 Year Replacement
<br />10
<br />$ 1,098
<br />$ 1,131
<br />$ 1,165
<br />$ 1,200
<br />$ 1,236
<br />$ 1,273
<br />$ 1,311
<br />$ 1,351
<br />$ 1,391
<br />$ 1,433
<br />$ 1,476
<br />$ 1,520
<br />$ 1,566
<br />$ 1,613
<br />$ 1,661
<br />$ 1,711
<br />$ 1,762
<br />$ 1,815
<br />$ 1,870
<br />$ 1,926
<br />$ 1,983
<br />$ 2,043
<br />$ 2,104
<br />$ 2,167
<br />$ 2,232
<br />$ 40,040
<br />FF&E Replacement Value with 12 Year Replacement Cycle
<br />$ 73,878
<br />$ 76,094
<br />$ 78,377
<br />$ 80,728
<br />$ 83,150
<br />$ 85,645
<br />$ 88,214
<br />$ 90,861
<br />$ 93,586
<br />$ 96,394
<br />$ 99,286
<br />$ 102,264
<br />$ 105,332
<br />$ 108,492
<br />$ 111,747
<br />$ 115,100
<br />$ 118,553
<br />$ 122,109
<br />$ 125,772
<br />$ 129,546
<br />$ 133,432
<br />$ 137,435
<br />$ 141,558
<br />$ 145,805
<br />$ 150,179
<br />Annual Renewal and Replacement Reserve for FF&E with 12 Year Replacement
<br />12
<br />$ 6,157
<br />$ 6,341
<br />$ 6,531
<br />$ 6,727
<br />$ 6,929
<br />$ 7,137
<br />$ 7,351
<br />$ 7,572
<br />$ 7,799
<br />$ 8,033
<br />$ 8,274
<br />$ 8,522
<br />$ 8,778
<br />$ 9,041
<br />$ 9,312
<br />$ 9,592
<br />$ 9,879
<br />$ 10,176
<br />$ 10,481
<br />$ 10,795
<br />$ 11,119
<br />$ 11,453
<br />$ 11,796
<br />$ 12,150
<br />$ 12,515
<br />$ 224,461
<br />FF&E Replacement Value with 13 Year Replacement Cycle
<br />$ 75,000
<br />$ 77,250
<br />$ 79,568
<br />$ 81,955
<br />$ 84,413
<br />$ 86,946
<br />$ 89,554
<br />$ 92,241
<br />$ 95,008
<br />$ 97,858
<br />$ 100,794
<br />$ 103,818
<br />$ 106,932
<br />$ 110,140
<br />$ 113,444
<br />$ 116,848
<br />$ 120,353
<br />$ 123,964
<br />$ 127,682
<br />$ 131,513
<br />$ 135,458
<br />$ 139,522
<br />$ 143,708
<br />$ 148,019
<br />$ 152,460
<br />Annual Renewal and Replacement Reserve for FF&E with TBD Year Replacement
<br />13
<br />$ 5,769
<br />$ 5,942
<br />$ 6,121
<br />$ 6,304
<br />$ 6,493
<br />$ 6,688
<br />$ 6,889
<br />$ 7,095
<br />$ 7,308
<br />$ 7,528
<br />$ 7,753
<br />$ 7,986
<br />$ 8,226
<br />$ 8,472
<br />$ 8,726
<br />$ 8,988
<br />$ 9,258
<br />$ 9,536
<br />$ 9,822
<br />$ 10,116
<br />$ 10,420
<br />$ 10,732
<br />$ 11,054
<br />$ 11,386
<br />$ 11,728
<br />$ 210,342
<br />FF&E Replacement Value with 15 Year Replacement Cycle
<br />$ 6,600
<br />$ 6,798
<br />$ 7,002
<br />$ 7,212
<br />$ 7,428
<br />$ 7,651
<br />$ 7,881
<br />$ 8,117
<br />$ 8,361
<br />$ 8,612
<br />$ 8,870
<br />$ 9,136
<br />$ 9,410
<br />$ 9,692
<br />$ 9,983
<br />$ 10,283
<br />$ 10,591
<br />$ 10,909
<br />$ 11,236
<br />$ 11,573
<br />$ 11,920
<br />$ 12,278
<br />$ 12,646
<br />$ 13,026
<br />$ 13,416
<br />Annual Renewal and Replacement Reserve for FF&E with 15 Year Replacement
<br />15
<br />$ 440
<br />$ 453
<br />$ 467
<br />$ 481
<br />$ 495
<br />$ 510
<br />$ 525
<br />$ 541
<br />$ 557
<br />$ 574
<br />$ 591
<br />$ 609
<br />$ 627
<br />$ 646
<br />$ 666
<br />$ 686
<br />$ 706
<br />$ 727
<br />$ 749
<br />$ 772
<br />$ 795
<br />$ 819
<br />$ 843
<br />$ 868
<br />$ 894
<br />$ 16,042
<br />Annual FF&E 5 Year Expenditures
<br />5
<br />$ 10,618
<br />$ 12,309
<br />$ 14,270
<br />$ 16,543
<br />$ 19,178
<br />$ 72,919
<br />Annual FF&E 6 Year Expenditures
<br />6
<br />$ 15,093
<br />$ 18,022
<br />$ 21,519
<br />$ 25,695
<br />$ 80,328
<br />Annual FF&E 7 Year Expenditures
<br />7
<br />$ 535,944
<br />$ 659,144
<br />$ 810,664
<br />$ 2,005,752
<br />Annual FF&E 9 Year Expenditures
<br />9
<br />$ 149,375
<br />$ 194,900
<br />$ 344,275
<br />Annual FF&E 10 Year Expenditures
<br />10
<br />$ 12,590
<br />$ 16,919
<br />$ 29,509
<br />Annual FF&E 12 Year Expenditures
<br />12
<br />$ 87,373
<br />$ 124,573
<br />$ 211,947
<br />Annual FF&E 13 Year Expenditures
<br />13
<br />$ 90,103
<br />$ 90,103
<br />Annual FF&E 15 Year Expenditures
<br />15
<br />$ 8,184
<br />$ 8,184
<br />Total Annual FF&E Expenditures
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ 10,618
<br />$ 15,093
<br />$ 535,944
<br />$ -
<br />$ 149,375
<br />$ 24,899
<br />$ -
<br />$ 105,395
<br />$ 90,103
<br />$ 659,144
<br />$ 22,454
<br />$ -
<br />$ -
<br />$ 216,419
<br />$ -
<br />$ 33,462
<br />$ 810,664
<br />$ -
<br />$ -
<br />$ 150,268
<br />$ 19,178
<br />$ 2,843,016
<br />Building Renewal and Replacement:
<br />Current Replacement Value of Non -Core and Shell (All Buildings)
<br />$ 2,702,000
<br />$ 2,783,060
<br />$ 2,866,552
<br />$ 2,952,548
<br />$ 3,041,125
<br />$ 3,132,359
<br />$ 3,226,329
<br />$ 3,323,119
<br />$ 3,422,813
<br />$ 3,525,497
<br />$ 3,631,262
<br />$ 3,740,200
<br />$ 3,852,406
<br />$ 3,967,978
<br />$ 4,087,017
<br />$ 4,209,628
<br />$ 4,335,917
<br />$ 4,465,994
<br />$ 4,599,974
<br />$ 4,737,973
<br />$ 4,880,113
<br />$ 5,026,516
<br />$ 5,177,311
<br />$ 5,332,631
<br />$ 5,492,610
<br />Average Building Annual Renewal and Replacement Expense
<br />$ 54,040
<br />$ 55,661
<br />$ 57,331
<br />$ 59,051
<br />$ 60,822
<br />$ 62,647
<br />$ 64,527
<br />$ 66,462
<br />$ 68,456
<br />$ 70,510
<br />$ 72,625
<br />$ 74,804
<br />$ 77,048
<br />$ 79,360
<br />$ 81,740
<br />$ 84,193
<br />$ 86,718
<br />$ 89,320
<br />$ 91,999
<br />$ 94,759
<br />$ 97,602
<br />$ 100,530
<br />$ 103,546
<br />$ 106,653
<br />$ 109,852
<br />$ 1,970,259
<br />Sources and Uses of Renewal and Replacement Funds:
<br />Sources of Funds:
<br />Green Fees
<br />$ 779,087
<br />$ 833,131
<br />$ 880,000
<br />$ 900,000
<br />$ 925,000
<br />$ 943,000
<br />$ 945,000
<br />$ 973,000
<br />$ 997,000
<br />$ 1,011,955
<br />$ 1,027,134
<br />$ 1,042,541
<br />$ 1,058,179
<br />$ 1,074,052
<br />$ 1,090,163
<br />$ 1,106,515
<br />$ 1,123,113
<br />$ 1,139,960
<br />$ 1,157,059
<br />$ 1,174,415
<br />$ 1,192,031
<br />$ 1,209,912
<br />$ 1,228,060
<br />$ 1,246,481
<br />$ 25,056,791
<br />Annual Season Passes
<br />$ 107,663
<br />$ 152,940
<br />$ 160,000
<br />$ 172,000
<br />$ 173,000
<br />$ 174,000
<br />$ 175,000
<br />$ 176,000
<br />$ 177,000
<br />$ 179,655
<br />$ 182,350
<br />$ 185,085
<br />$ 187,861
<br />$ 190,679
<br />$ 193,539
<br />$ 196,443
<br />$ 199,389
<br />$ 202,380
<br />$ 205,416
<br />$ 208,497
<br />$ 211,624
<br />$ 214,799
<br />$ 218,021
<br />$ 221,291
<br />$ 4,464,633
<br />Golf Cart Rentals
<br />$ 213,474
<br />$ 221,517
<br />$ 227,140
<br />$ 230,000
<br />$ 245,000
<br />$ 250,000
<br />$ 260,000
<br />$ 260,000
<br />$ 265,000
<br />$ 268,975
<br />$ 273,010
<br />$ 277,105
<br />$ 281,261
<br />$ 285,480
<br />$ 289,762
<br />$ 294,109
<br />$ 298,521
<br />$ 302,998
<br />$ 307,543
<br />$ 312,156
<br />$ 316,839
<br />$ 321,591
<br />$ 326,415
<br />$ 331,311
<br />$ 6,659,209
<br />Driving Range Fees
<br />$ 101,610
<br />$ 108,124
<br />$ 106,690
<br />$ 109,000
<br />$ 114,450
<br />$ 120,170
<br />$ 126,180
<br />$ 132,490
<br />$ 139,120
<br />$ 141,207
<br />$ 143,325
<br />$ 145,475
<br />$ 147,657
<br />$ 149,872
<br />$ 152,120
<br />$ 154,402
<br />$ 156,718
<br />$ 159,068
<br />$ 161,454
<br />$ 163,876
<br />$ 166,334
<br />$ 168,829
<br />$ 171,362
<br />$ 173,932
<br />$ 3,413,465
<br />Food & Beverage Sales
<br />$ 20,488
<br />$ 32,248
<br />$ 33,000
<br />$ 34,650
<br />$ 36,380
<br />$ 38,200
<br />$ 40,110
<br />$ 42,120
<br />$ 44,220
<br />$ 44,883
<br />$ 45,557
<br />$ 46,240
<br />$ 46,933
<br />$ 47,637
<br />$ 48,352
<br />$ 49,077
<br />$ 49,814
<br />$ 50,561
<br />$ 51,319
<br />$ 52,089
<br />$ 52,870
<br />$ 53,663
<br />$ 54,468
<br />$ 55,285
<br />$ 1,070,166
<br />Pro Shop Merchandise Sales
<br />$ 97,214
<br />$ 98,642
<br />$ 127,500
<br />$ 130,000
<br />$ 132,500
<br />$ 135,000
<br />$ 137,500
<br />$ 140,000
<br />$ 144,200
<br />$ 146,363
<br />$ 148,558
<br />$ 150,787
<br />$ 153,049
<br />$ 155,344
<br />$ 157,675
<br />$ 160,040
<br />$ 162,440
<br />$ 164,877
<br />$ 167,350
<br />$ 169,860
<br />$ 172,408
<br />$ 174,994
<br />$ 177,619
<br />$ 180,283
<br />$ 3,584,204
<br />Pull Cart Rentals
<br />$ 5,709
<br />$ 5,352
<br />$ 8,860
<br />$ 9,000
<br />$ 9,200
<br />$ 9,400
<br />$ 9,600
<br />$ 9,800
<br />$ 10,000
<br />$ 10,150
<br />$ 10,302
<br />$ 10,457
<br />$ 10,614
<br />$ 10,773
<br />$ 10,934
<br />$ 11,098
<br />$ 11,265
<br />$ 11,434
<br />$ 11,605
<br />$ 11,779
<br />$ 11,956
<br />$ 12,136
<br />$ 12,318
<br />$ 12,502
<br />$ 246,245
<br />Club Rentals
<br />$ 7,064
<br />$ 7,097
<br />$ 10,200
<br />$ 10,500
<br />$ 10,700
<br />$ 10,900
<br />$ 11,000
<br />$ 11,200
<br />$ 11,400
<br />$ 11,571
<br />$ 11,745
<br />$ 11,921
<br />$ 12,100
<br />$ 12,281
<br />$ 12,465
<br />$ 12,652
<br />$ 12,842
<br />$ 13,035
<br />$ 13,230
<br />$ 13,429
<br />$ 13,630
<br />$ 13,834
<br />$ 14,042
<br />$ 14,253
<br />$ 283,090
<br />Golf Lesson Fees
<br />$ 30,026
<br />$ 38,382
<br />$ 40,000
<br />$ 60,000
<br />$ 70,000
<br />$ 80,000
<br />$ 82,000
<br />$ 83,000
<br />$ 84,000
<br />$ 85,260
<br />$ 86,539
<br />$ 87,837
<br />$ 89,155
<br />$ 90,492
<br />$ 91,849
<br />$ 93,227
<br />$ 94,625
<br />$ 96,045
<br />$ 97,485
<br />$ 98,948
<br />$ 100,432
<br />$ 101,938
<br />$ 103,467
<br />$ 105,019
<br />$ 1,989,727
<br />Club Repair Fees
<br />$ 6,045
<br />$ 6,055
<br />$ 9,000
<br />$ 7,500
<br />$ 8,000
<br />$ 8,500
<br />$ 9,000
<br />$ 9,500
<br />$ 10,000
<br />$ 10,150
<br />$ 10,302
<br />$ 10,457
<br />$ 10,614
<br />$ 10,773
<br />$ 10,934
<br />$ 11,098
<br />$ 11,265
<br />$ 11,434
<br />$ 11,605
<br />$ 11,779
<br />$ 11,956
<br />$ 12,136
<br />$ 12,318
<br />$ 12,502
<br />$ 242,924
<br />Handicap Fees
<br />$ 3,460
<br />$ 4,310
<br />$ 6,000
<br />$ 5,000
<br />$ 5,100
<br />$ 5,200
<br />$ 5,300
<br />$ 5,400
<br />$ 5,500
<br />$ 5,583
<br />$ 5,666
<br />$ 5,751
<br />$ 5,837
<br />$ 5,925
<br />$ 6,014
<br />$ 6,104
<br />$ 6,196
<br />$ 6,289
<br />$ 6,383
<br />$ 6,479
<br />$ 6,576
<br />$ 6,675
<br />$ 6,775
<br />$ 6,876
<br />$ 138,398
<br />Golf Course - Rentals
<br />$ 24,000
<br />$ 22,840
<br />$ 26,000
<br />$ 27,000
<br />$ 28,000
<br />$ 27,000
<br />$ 28,000
<br />$ 29,000
<br />$ 30,000
<br />$ 30,450
<br />$ 30,907
<br />$ 31,370
<br />$ 31,841
<br />$ 32,319
<br />$ 32,803
<br />$ 33,295
<br />$ 33,795
<br />$ 34,302
<br />$ 34,816
<br />$ 35,338
<br />$ 35,869
<br />$ 36,407
<br />$ 36,953
<br />$ 37,507
<br />$ 749,811
<br />Other Revenue
<br />$ 7,200
<br />$ 4,107
<br />$ 13,650
<br />$ 11,560
<br />$ 8,600
<br />$ 8,600
<br />$ 8,600
<br />$ 8,600
<br />$ 8,600
<br />$ 8,729
<br />$ 8,860
<br />$ 8,993
<br />$ 9,128
<br />$ 9,265
<br />$ 9,404
<br />$ 9,545
<br />$ 9,688
<br />$ 9,833
<br />$ 9,981
<br />$ 10,130
<br />$ 10,282
<br />$ 10,437
<br />$ 10,593
<br />$ 10,752
<br />$ 225,135
<br />Capital Expenditures Funded Through the Capital Projects Fund
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />$ -
<br />Total Sources of Funds
<br />$ 1,403,041
<br />$ 1,534,745
<br />$ 1,648,040
<br />$ 1,706,210
<br />$ 1,765,930
<br />$ 1,809,970
<br />$ 1,837,290
<br />$ 1,880,110
<br />$ 1,926,040
<br />$ 1,954,931
<br />$ 1,984,255
<br />$ 2,014,018
<br />$ 2,044,229
<br />$ 2,074,892
<br />$ 2,106,015
<br />$ 2,137,606
<br />$ 2,169,670
<br />$ 2,202,215
<br />$ 2,235,248
<br />$ 2,268,777
<br />$ 2,302,808
<br />$ 2,337,351
<br />$ 2,372,411
<br />$ 2,407,997
<br />$ 48,123,797
<br />Uses of Funds:
<br />General & Marketing
<br />$ 105,658
<br />$ 134,525
<br />$ 134,690
<br />$ 147,880
<br />$ 152,260
<br />$ 159,873
<br />$ 167,867
<br />$ 176,260
<br />$ 185,073
<br />$ 194,327
<br />$ 204,043
<br />$ 214,245
<br />$ 224,957
<br />$ 236,205
<br />$ 248,015
<br />$ 260,416
<br />$ 273,437
<br />$ 287,109
<br />$ 301,464
<br />$ 316,538
<br />$ 332,364
<br />$ 348,983
<br />$ 366,432
<br />$ 384,753
<br />$ 5,557,375
<br />Golf Operations & Pro Shop
<br />$ 555,506
<br />$ 630,213
<br />$ 600,150
<br />$ 788,140
<br />$ 824,210
<br />$ 865,421
<br />$ 908,692
<br />$ 954,126
<br />$ 1,001,832
<br />$ 1,051,924
<br />$ 1,104,520
<br />$ 1,159,746
<br />$ 1,217,734
<br />$ 1,278,620
<br />$ 1,342,551
<br />$ 1,409,679
<br />$ 1,480,163
<br />$ 1,554,171
<br />$ 1,631,879
<br />$ 1,713,473
<br />$ 1,799,147
<br />$ 1,889,104
<br />$ 1,983,560
<br />$ 2,082,738
<br />$ 29,827,298
<br />Golf Course Maintenance
<br />$ 610,376
<br />$ 551,453
<br />$ 895,360
<br />$ 759,480
<br />$ 789,410
<br />$ 828,881
<br />$ 870,325
<br />$ 913,841
<br />$ 959,533
<br />$ 1,007,509
<br />$ 1,057,885
<br />$ 1,110,779
<br />$ 1,166,318
<br />$ 1,224,634
<br />$ 1,285,866
<br />$ 1,350,159
<br />$ 1,417,667
<br />$ 1,488,550
<br />$ 1,562,978
<br />$ 1,641,127
<br />$ 1,723,183
<br />$ 1,809,342
<br />$ 1,899,809
<br />$ 1,994,800
<br />$ 28,919,264
<br />Golf Clubhouse Operations & Maintenance
<br />$ 88,348
<br />$ 86,596
<br />$ 103,670
<br />$ 97,700
<br />$ 101,770
<br />$ 106,859
<br />$ 112,201
<br />$ 117,811
<br />$ 123,702
<br />$ 129,887
<br />$ 136,382
<br />$ 143,201
<br />$ 150,361
<br />$ 157,879
<br />$ 165,773
<br />$ 174,061
<br />$ 182,764
<br />$ 191,903
<br />$ 201,498
<br />$ 211,573
<br />$ 222,151
<br />$ 233,259
<br />$ 244,922
<br />$ 257,168
<br />$ 3,741,436
<br />Subtotal - Operating Expenses
<br />$ 1,359,889
<br />$ 1,402,786
<br />$ 1,733,870
<br />$ 1,793,200
<br />$ 1,867,650
<br />$ 1,961,033
<br />$ 2,059,084
<br />$ 2,162,038
<br />$ 2,270,140
<br />$ 2,383,647
<br />$ 2,502,830
<br />$ 2,627,971
<br />$ 2,759,370
<br />$ 2,897,338
<br />$ 3,042,205
<br />$ 3,194,315
<br />$ 3,354,031
<br />$ 3,521,733
<br />$ 3,697,819
<br />$ 3,882,710
<br />$ 4,076,846
<br />$ 4,280,688
<br />$ 4,494,722
<br />$ 4,719,459
<br />$ 68,045,374
<br />FF&E Expenditures:
<br />$ 68,873
<br />$ 8,757
<br />$ 14,500
<br />$ 10,860
<br />$ 301,460
<br />$ 535,944
<br />$ -
<br />$ 149,375
<br />$ 24,899
<br />$ -
<br />$ 105,395
<br />$ 90,103
<br />$ 659,144
<br />$ 22,454
<br />$ -
<br />$ -
<br />$ 216,419
<br />$ -
<br />$ 33,462
<br />$ 810,664
<br />$ -
<br />$ -
<br />$ 150,268
<br />$ 19,178
<br />$ 3,221,755
<br />Average Annual Building Renewal and Replacement Expense
<br />$ 64,527
<br />$ 66,462
<br />$ 68,456
<br />$ 70,510
<br />$ 72,625
<br />$ 74,804
<br />$ 77,048
<br />$ 79,360
<br />$ 81,740
<br />$ 84,193
<br />$ 86,718
<br />$ 89,320
<br />$ 91,999
<br />$ 94,759
<br />$ 97,602
<br />$ 100,530
<br />$ 103,546
<br />$ 106,653
<br />$ 109,852
<br />$ 1,620,706
<br />Total Uses of Funds
<br />$ 1,428,761
<br />$ 1,411,543
<br />$ 1,748,370
<br />$ 1,804,060
<br />$ 2,169,110
<br />$ 2,561,503
<br />$ 2,125,547
<br />$ 2,379,870
<br />$ 2,365,549
<br />$ 2,456,273
<br />$ 2,683,029
<br />$ 2,795,122
<br />$ 3,497,873
<br />$ 3,001,532
<br />$ 3,126,398
<br />$ 3,281,034
<br />$ 3,659,770
<br />$ 3,613,732
<br />$ 3,826,041
<br />$ 4,790,976
<br />$ 4,177,376
<br />$ 4,384,234
<br />$ 4,751,643
<br />$ 4,848,489
<br />$ 72,887,835
<br />Annual Net Surplus/(Deficit) of Funds
<br />$ (25,720)
<br />$ 123,201
<br />$ (100,330)
<br />$ (97,850)
<br />$ (403,180)
<br />$ (751,533)
<br />$ (288,257)
<br />$ (499,760)
<br />$ (439,509)
<br />$ (501,342)
<br />$ (698,774)
<br />$ (781,103)
<br />$ (1,453,645)
<br />$ (926,640)
<br />$ (1,020,382)
<br />$ (1,143,428)
<br />$ (1,490,101)
<br />$ (1,411,517)
<br />$ (1,590,793)
<br />$ (2,522,200)
<br />$ (1,874,568)
<br />$ (2,046,884)
<br />$ (2,379,232)
<br />$ (2,440,492)
<br />$ (24,764,037)
<br />Cumulative Net Surplus/(Deficit) of Funds
<br />$ (25,720)
<br />$ 97,481
<br />$ (2,849)
<br />$ (100,699)
<br />$ (503,879)
<br />$ (1,255,412)
<br />$ (1,543,669)
<br />$ (2,043,428)
<br />$ (2,482,938)
<br />$ (2,984,280)
<br />$ (3,683,054)
<br />$ (4,464,157)
<br />$ (5,917,802)
<br />$ (6,844,442)
<br />$ (7,864,824)
<br />$ (9,008,252)
<br />$ (10,498,352)
<br />$ (11,909,870)
<br />$ (13,500,663)
<br />$ (16,022,862)
<br />$ (17,897,430)
<br />$ (19,944,314)
<br />$ (22,323,546)
<br />$ (24,764,037)
<br />13
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