REPORT TO SPORTS AND OPEN SPACE AUTHORITY
SUBJECT
Title
Action on the Fiscal Operation of the Santa Clara Golf and Tennis Club Report for the 2nd quarter ended December 31, 2018
Report
BACKGROUND
On June 27, 2017, the City Council approved an extension to the Management Agreement of the Santa Clara Golf and Tennis Club with the American Golf Corporation. Per the management agreement, the American Golf Corporation is required to submit for Sports and Open Space Authority (SOSA) various fiscal and operational reports.
DISCUSSION
This Report to Council transmits the reports on the fiscal operation of the Santa Clara Golf and Tennis Club for the quarter ended December 31, 2018. These reports provide current information on the fiscal operation of the City's Golf and Tennis Club and include the Income Statement (Attachment 1), the Variance Report (Attachment 2), the Administrative and Management Fee Calculation (Attachment 3), and the Net Income Comparison Graph (Attachment 4). The Income Statement includes a summary of Golf Course attendance categorized as "Number of Rounds" that is presented at the bottom of the Statement. The Variance Report provides a brief explanation of variances between actual and budgeted Golf Course revenues and expenditures. The Net Income Comparison Graph provides a graphic comparison of the current quarter and fiscal year actual, budget, and prior year actual Net Income for the Golf and Tennis Club.
As discussed in the attached Variance Report, financial results for the quarter ended December 31, 2018 exceeded budget by $100,793 due primarily to higher than anticipated revenues from cart rental and range income. Salary/wage expense came in lower due to not finding replacement workers for maintenance and salaried employee on leave of absence and monthly budgeted bonuses are not being recorded as an expense in the current reporting period.
ENVIRONMENTAL REVIEW
The action being considered does not constitute a "project" within the mean...
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