Bobby Jones posts net loss after debt service; board flags $1.6M bond charge next year

Leo Fitzgerald delivered the year‑end operations report for Bobby Jones golf course, calling out usage, revenue and mounting debt‑service pressure. He said the course recorded about 60,000 rounds in the fiscal year and roughly $4.5 million in total revenue.

Fitzgerald said net income before the Citi payment was about $1.2 million, but a Citi debt‑service charge this year totaled $1.4 million, producing a reported net loss of $220,000 for the fiscal year. He warned the next year’s debt charge is currently projected at about $1.6 million and said that amount will force “pretty substantial changes” to pricing and operations unless offset by other revenue.

Responding to board questions, Fitzgerald urged that Bobby Jones transition from gas to electric carts, repave cart paths to reduce maintenance problems, and address a maintenance‑facility shortfall that was not included in the original renovation. He recommended establishing a funded depreciation schedule so equipment replacement needs can be anticipated and budgeted.

Board members asked staff to clarify the debt‑service schedule and the components driving the increase from the earlier planned payment to the current projection. Fitzgerald committed to following up with more detailed numbers and the schedule for the Citi bond payments and any county funding transfers referenced in the report.

No formal action or vote was taken on course operations during the meeting; the item was recorded for future financial review and follow up.