Presuming that a renovation of the course will take place in April of next year, I would like to take a moment to address a concern I have been hearing. Indeed, the loss of revenues has been factored into this year’s operating budget.
During the summer, I created two separate budgets. One was reflective of a normal year with no golf course closure, and one reflected the golf course closing for 7 months. Interestingly, the latter budget’s loss of golf and food revenues was nearly equally offset by a massive savings in payroll as well as in fertilizer and other applications treating the course, about $530,000. The difference between the two budgets ended up being about $17,000, or $20 per unit. The Board accepted the higher budget in the event the project was approved.
Let me know if I can answer any more questions.