Preliminary financial results for the six months ending June 30 shows Total Income more than budget by $18,600; $433,900 versus $415,300. Green fees are slightly below budget for the period, while range balls and tournaments exceeded budget. Expenses are unfavorable by $29,600; $372,500 against the budget of $342,900 principally in the areas of Cost of Goods and Golf Course Maintenance Expense. The Result is Net Income of $61,400 versus the budget of $72,400 for an unfavorable variance of $11,000.
Compared to the same period last year total Income was $504,900 with total Spending of $430,900 for a Net Income of $74,000.