RESOLUTION 2022-07

A RESOLUTION ADOPTING THE FINAL GOLF COURSE ENTERPRISE FUND BUDGET OF THE CROSSINGS OF FLEMING ISLAND COMMUNITY DEVELOPMENT DISTRICT FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022 AND ENDING SEPTEMBER 30, 2023

WHEREAS, the District Manager has heretofore prepared and submitted to the Board for approval the District’s proposed Golf Course Enterprise Fund Budget for the Fiscal Year 2022-2023; and

WHEREAS, a public hearing has been held on this 25th day of August 2022 at which members of the general public were accorded the opportunity to speak prior to the adoption of the final Golf Course Enterprise Fund Budget;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CROSSINGS OF FLEMING ISLAND COMMUNITY DEVELOPMENT DISTRICT:

The Golf Course Enterprise Fund Budget heretofore submitted to and approved by the Board is hereby adopted as the final Golf Course Enterprise Fund Budget of the District for Fiscal Year 2022-2023.

A verified copy of said final Golf Course Enterprise Fund Budget shall be attached as an exhibit to this Resolution in the District’s “Official Record of Proceedings.”

PASSED AND ADOPTED THIS 25th DAY OF AUGUST 2022.

THE CROSSINGS AT FLEMING ISLAND COMMUNITY DEVELOPMENT DISTRICT

(Sign)	Chairman

Steve Andersen

(Print) Secretary

The Crossings at Fleming Island						GOLF FUND	
COMMUNITY DEVELOPMENT DISTRICT						FY2023	

AMENDED		ACTUAL		TOTAL		ADOPTED	
FY2022		THRU		PROJECTED AT		FY2023	
BUDGET		7/31/22		9/30/22		BUDGET	
REVENUES:							
User Fees - Dues	$408,000		$343,463		$391,000		$430,000	
Greens/Cart Fees	$1,485,000		$1,303,791		$1,275,000		$1,492,000	
Tournament Golf Income	$117,000		$0		$103,000		$74,681	
Merchandise/Food/Beverage  Sale	$1,634,000		$1,361,851		$1,591,060		$1,775,750	
Rental Revenue	$53,837		$83,576		$49,000		$70,000	
Membership Income - Other Fees	$6,000		$2,679		$4,400		$3,000	
Miscellaneous Income	$96,035		$80,029		$60,000		$60,000	
Initiation Fees	$0		$6,000		$6,000		$6,000	
Interest Income/Commissions	$0		$8		$15		$0	
Sales Tax/Gratuities/Lesson Income	$721,000		$300		$514,205		$514,205	

TOTAL REVENUES	$4,520,872		$3,181,698		$3,993,680		$4,425,636	
COST OF GOODS SOLD:							
Cost of Goods Sold	$695,000		$537,712		$685,000		$763,573	

GROSS PROFIT	$3,825,872		$2,643,986		$3,308,680		$3,662,063	

EXPENDITURES:							
Operating Expenses:							
Salaries	$1,365,500		$1,132,959		$1,283,000		$1,549,435	
Commissions & Bonuses	$56,234		$46,863		$24,000		$30,000	
Rental Commissions	$13,500		$0		$12,226		$12,500	
Employee Expenses	$282,000		$232,481		$270,000		$313,108	
Employee Uniforms	$5,450		$4,439		$5,000		$5,000	
Travel & Per Diem	$2,400		$2,337		$1,667		$2,000	
Training	$500		$16		$2,000		$500	
Employee Advertising	$1,000		$0		$797		$1,000	
Janitorial Expense/Supplies	$37,200		$27,062		$34,358		$38,400	
Tournaments & Events	$49,500		$31,084		$45,231		$45,500	
Centralized Services	$87,000		$78,637		$82,090		$83,000	
Course & Grounds Maintenance	$46,500		$30,903		$40,656		$51,250	
Repairs - Equipment	$39,000		$24,404		$39,106		$44,000	
Repairs - Buildings	$15,000		$3,317		$9,000		$15,000	
Operating Supplies	$95,526		$79,605		$75,000		$75,000	
Demo Equipment Expense	$0		$0		$790		$0	
Office Supplies	$3,500		$3,939		$3,500		$3,500	
Postage	$500		$227		$434		$500	
Printing & Reproduction	$1,000		$248		$1,000		$1,000	
Utility Services	$82,125		$67,678		$74,000		$74,000	
Gas/Oil/Propane	$40,000		$33,059		$30,000		$39,000	
Refuse & Potables	$28,000		$14,839		$28,624		$18,000	
Telephone/T1 Line	$7,700		$5,256		$7,628		$9,050	
Security/Pest Control	$22,000		$14,291		$22,000		$22,000	
Music & Cable Service	$13,200		$6,337		$12,000		$12,000	
Dues and Subscriptions	$7,300		$4,089		$7,300		$7,300	
Chemicals	$76,224		$63,521		$55,000		$71,500	
Fertilizer - Course	$54,500		$38,531		$50,000		$70,000	
Sand, Seed & Dressing	$37,200		$28,375		$34,000		$42,375	
Licenses/Permits	$4,300		$2,455		$4,211		$4,300	
Bad Debt Expense	$0		$0		$6,000		$0	
Cash Short/Over	$0		$201		$0		$0	
Miscellaneous	$4,700		$28		$4,700		$4,700	
Other Services	$8,000		$1,169		$7,896		$8,000	
Trustee Fees/Bank Charges	$101,000		$83,169		$83,840		$84,000	
Management Fees - Hampton	$86,400		$70,000		$86,400		$86,400	
Rentals & Leases	$230,667		$202,712		$230,667		$235,167	
Lake Maintenance	$30,000		$25,000		$30,000		$30,000	
Insurance	$51,600		$63,378		$51,600		$95,264	
Other Current Charges	$29,640		$29,580		$29,640		$32,000	
District Manager/Administrator	$38,500		$32,051		$38,500		$38,500	
District Attorney	$5,820		$8,557		$5,820		$5,820	
Audit	$2,000		$3,301		$1,917		$2,000	
Non-Recurring/Other/Prior Year	$0		($3,620)		$29,903		$0	
Equipment	$62,100		$61,329		$61,329		$0	
Sales Tax/Gratuities/Lesson Expense	$721,000		$0		$514,205		$514,205	

TOTAL EXPENDITURES	$3,845,286		$2,553,808		$3,437,035		$3,776,274	

							
Net Operating Income:	($19,414)		$90,178		($128,355)		($114,211)	

Non-Operating Expenses:							
Other Income	$0		$0		$0		$0	
Other Expenses	$0		($7,370)		($7,370)		$0	
Principal Expense - 10/1	($420,000)		($325,000)		($420,000)		($445,000)	
Interest Expense - 10/1	($44,220)		($44,220)		($44,220)		($30,360)	
Interest Expense - 4/1	($44,220)		($50,930)		($44,220)		($30,360)	

TOTAL NON-OPERATING	($508,440)		($427,520)		($515,810)		($505,720)	

							
EXCESS REVENUES (EXPENDITURES)	($527,854)		($337,342)		($644,165)		($619,931)	

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