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Golf committee reviews audited financials, flags $68,656 liability adjustment and early 2027 budget projections
Summary
Committee members reviewed audited financials and asked about a $68,656 compensated-absence adjustment; staff said the 2025 salary variance reflected bookkeeping timing and liabilities. Early 2027 projections show ~2.5% operating expense growth and a cart-lease renewal to watch.
Committee members reviewed the audited financial statements and detailed adjustments July 6 and asked staff for clarification about a salary-line variance and other bookkeeping entries. Jim asked why the full‑time salary line rose in 2025 and then dropped in the 2026 budget; staff said there were no personnel changes in 2025 and suggested timing, COLA adjustments and classifications could account for the difference and agreed to follow up with the finance team for details.
Jeremy pointed to a specific audited adjustment of $68,656 recorded on account line item 72, which staff described as an increase to the compensated‑absence liability for future vacation and sick‑leave payments, driven by higher accrued balances and wage rates. "That may have influenced that, Jim," Jeremy said when explaining the audited note; committee members agreed the note explained the apparent variance between actuals and budget.
On early 2027 planning, Jeremy said the operating budget was still preliminary but that he had modeled a roughly 2.5% increase in operating expenses across the board as an early estimate. He flagged the end of a five‑year cart lease as a known capital pressure that could increase costs if the fleet lease is renewed. Jeremy also outlined a capital “wish list” for 2027 that included an automatic range picker/mower, a new greens mower, a third electric greens mower and refinements to utility vehicles.
Revenue and cash‑flow comments: staff said gross revenues are up compared with the same point last year — roughly $170,000 higher excluding the practice‑range machine — and that the year’s net position showed a nearly $1,000,000 net negative driven largely by about $1.8 million in capital spending.
Committee members asked for further details on line‑item classifications and said they would revisit the budget with more complete finance workbooks; the committee plans a deeper budget discussion at its August meeting.
