Community Center fund reports outperforming budget; finance staff projects $460,000 surplus

At the May 21 Parks and Recreation Advisory meeting, finance staff presented the Community Center Fund financial results through March and described better-than-expected performance across several revenue categories.

Dave, presenting the quarterly numbers, said total revenues were at about 87% of budget through March, ahead of the typical 75% benchmark expected three quarters through the fiscal year. Contracted operating revenues (the Indigo golf contract) were at 98% of budget, town operating revenues about 79% and other revenues about 94% of budget. Dave said the town now estimates a year-end surplus of roughly $460,000 in the fund compared with a budgeted $450,000 deficit.

“We are, this is a really positive report,” Dave said, walking the board through the revenue and expenditure comparisons. He highlighted strong golf performance—Push Ridge reported nearly 15,000 rounds year-to-date versus a budgeted 12,100—and said member dues, cart fees and merchandise sales have lifted contracted revenues.

Dave also noted that some capital-outlay work has been delayed (for example the CRC elevator project), which keeps capital expenditures below budget and shifts some spending into the next fiscal year. Board members asked about the HOA contribution schedule; Dave said the existing HOA agreements run five years and are set to expire in the next fiscal year (FY 24-25).

What’s next: staff will continue monitoring program enrollment and seasonal impacts (camps and classes are expected to increase usage over summer) and will report back as the fiscal year closes. The board did not change policy at this meeting; the presentation was informational.