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Old Works board approves April financials showing improved revenue and positive fund balances
Summary
The Old Works Golf Course Board approved April financials showing $115,338 in revenue (vs. $75,922 budget) and reported $1.89 million in operations subsidy funds and $92,637 in the capital improvements fund. The board voted to approve the financials and the May minutes.
The Old Works Golf Course Board on June 1 approved its April financial report, which showed revenue of $115,338 compared with a budgeted $75,922 and operating expenses of $140,075 against a budgeted $172,703. The board recorded a net cash flow of ($53,261) for April, improved from a budgeted ($112,683), and noted timing differences tied to fertilizer, fuel and earlier payments.
Board member Ed Beaudette moved to approve the financials; Gary Carlson seconded the motion, which passed 5-0. The board also approved the May 4 meeting minutes earlier in the agenda (motion by Con Malee, second by Ed Beaudette; vote 5-0).
At the meeting the board reported an Operations Subsidy Fund balance of $1,889,351.36 and a Capital Improvements Fund balance of $92,636.74. Trustees discussed that some expense variances reflected timing (payments deferred to May or paid in advance in March) rather than ongoing overspending.
No public comment was recorded on the financials. The board did not request additional formal actions beyond approval; staff will carry forward budget monitoring and routine reporting to the next meeting.
