The December financials mark the mid-year point of the fiscal year (July 1 through June 30). Although the Council and staff want you to believe that everything is rosy, quite the opposite is true.The Community Center Fund (CCF) has LOST $283,948 for the first 6 months of the fiscal year, and this takes into account that the Town has collected $1,061,203 in revenue from the increased sales tax which is dedicated to the Community Center.
The shell game continues
The CCF is forecasted to end the fiscal year $55,762 IN THE RED. However, without the $350,000 that the Council withdrew from the General Fund to meet expenses and pay back their $120,000 loan obligation, the fund would actually be forecasted to end the year an additional $230,000 IN THE RED. ($350,000 minus $120,000). Therefore, without the shell game, the actual forecast for the Community Center Fund would be to end the year $285,762 IN THE RED ($55,762 plus $230,000).
So as you can see, claiming that they will end the fiscal year at $55,762 in the red is just more Town Staff and Town Council smoke and mirrors.
Half-way through the year, golf revenues are 44% of what was budgeted, member dues are at 41%, and food and beverage is at 45%. All three categories are short of expectations as they should be at 50% at the half-way point of the fiscal year.
Meanwhile, Operations and Maintenance expenditures are over budget at 57.4%.
The Overlook Restaurant was budgeted to make $1,550, but actually lost another $7,602 (a $9,152 miscalculation). In the first six months of the fiscal year, the Overlook has LOST $65,782.
Town Financials (Recreation Center, Member Dues, Swim and Tennis, etc.)
The truth is that the Town's revenues and expenditures are doing very well. Revenues are at 56.3% and expenditures are right on budget at 50%.
The whole truth is that the reason they are on budget is because they have not spent what they promised on capital improvements (facility restoration, ADA compliance, etc.)
When they purchased the property in 2015, they projected to spend $596,000 in capital improvements in Fiscal Year 2017/18 but when the time came, they budgeted for only $94,250. We’re now half-way through the fiscal year and they’ve spent only $29,464.
Something’s fishy
Something very strange occurred during the Staff Report regarding the December financials. The staff specialist that gave the report mentioned that part of the Troon/Golf losses for December were due to increased water usage. However, the Troon report shows that in December 2017, they spent $67,753 on utilities compared to December 2016 when the utility expense was $177,277.
Troon's report continues to be suspect as it also shows utility expenses for TWO MONTHS (November and December 2017) to total $154,032 which is $27,325 less than the utility expense for ONE MONTH (October 2017).
Remember, Staff controls the message and manipulates it to meet the desires of the Town Manager and Town Council. Can you trust what the staff says when the Town's own documents say otherwise? The Council never questions staff to verify the numbers even when the discrepancies are right in front of them.
What a deal
The Town is now marketing a "special summer program for golf.” From May 26 - September 9 you can purchase unlimited golf for $499 plus tax. This will allow you unlimited rounds as long as you play after 9 AM Monday-Friday or after 11 AM on weekends. Just think, for $499 you can play in the heat of summer while the members play during the coolest part of the day. If you want to play golf while it is cooler outside, you’ll need to play elsewhere.
