According to financials, golf course made $3000. more in 2008 for memberships, 3000. more in shed rentals but in 2009, made $500. more in cart rentals. This show to date, the course made $5500. to date more in 2008. Can anybody tell us where they made the $25000. came from in revenue the first 3 months of this year? I can't see from what was passed out, how we got the extra money. Is this just manufactured figures again to try to fool us.
I'm not sure if the figures were manufactured, but I do agree with 6:06 PM in that an audit would be very helpful in finding out exactly where the different financials came from (ie an itemized breakdown).
Maybe I'm missing it but I don't see a comparison between '09 March, April and May expenditures VS '08s for the same 3 months. (I saw the listing of net loss for those months in'08).
Is it possible the club house and course are running more efficiently with less expenditures, there by explaining the revenue increase?
An audit does need to be done. Remember the facts and figures we are looking at do not include accrals and inventories. Accrued revenue: Revenue is recognized before cash is received. Accrued expense: Expense is recognized before cash is paid out.
What is so confusing is that city budget runs through July.
From researching golf courses most money is brought in during the frist 3-4 months of operation. Example: Revenues from memberships, cart shed rentals, green fees etc.
Also you cannot look at the golf course as a new business as it was built in 1933, this date is from http://www.thegolfcourses.net/golfcourses/IA/13372.htm This needs to be looked at as a business under new ownership.
So if we are looking at March, April and May figures this business can look really good. From the paper we are looking at please note that the loss started to grow in August and then is shows it dropping again in April. This follows the trend of March, April and May being the best months for revenue.
Seasonal based businesses need to be looked at differently than year round. I know the golf course was open all year last year but the majority of it's revenue are seasonal. What I am saying is March, April and May should not be pulled out and used as an indicator for the whole year.
Dayton Taxpayer: From the paper I am reviewing there is no way to tell if the business is being ran more effcient. The paper is not comparing apples to apples. It does not show the surplus for last year's March, April and May. I assume there could have been a surplus for those months also as that is when the most revenue is brought in.
I agree; March, April and May should not be pulled out and used as an indicator for the whole year. On the other hand; those numbers represent the beginning of the current '09 golf season, so it's nice to know how this season's starting out. A lot of people on this blog have asked for these numbers. The format may not be perfect yet - but it's a start. It's fine to question facts and figures but before everyone puts this under the microscope...it would be a gesture of good will to acknowledge requests was heard and honored. Both sides of the issue have to meet half way. I would like to say thank you to the mayor, city council and parks and rec board for providing these numbers.
Dayton Taxpayer: I did appreciate getting this information. I agree that both sides do need to meet in the middle. I do think an audit would go along way to meeting in the middle. It would set peoples minds at ease and it could also save the golf course more than the 3000.00 to 4000.00 it may cost. An independant audit has been know to save money in the long run by checking that policies and procedures are being followed. Indpendant auditors also point out areas of improvements and ways to save money.
Stop the bulls--t, give us an audit, not just some numbers masked to throw a bit of cheese, act in real good faith and maybe we can come to some sort of compromise. Half truths and ineuendos are what the mayor handed out. Give us some figures we can make sense of.
It would make me very happy to have the golf course make money. I am not saying that there is any fraud involved. I just feel an audit could improve operations. Along with the improvements it would show soladarity.
Can someone explain, when it show that the golf course had 25,???, in revenue for Mar., April, and May, why did they have to borrow 25,000 dollars from the light board to make a payment? Does this make sense to anybody? Maybe we should have an audit, so we can see numbers in black and white, not grey.
What would be nice is an audit, first and foremost. If papers are to be handed out like this, then they should be lengthy complete records. As in all bills and to whom paid. All income listing the number of greens fees paid and clubhouse rental. All wages for the months and to whom paid. Of course the income will be higher for the golfing months. That somewhat stands to reason. Most entertainment venues have good and bad months. I am sure the theme park in Des Moines makes more money during the summer than in the dead of winter. We need a complete and thorough audit. If not that, then a complete breakdown of all monies taken in and from where, and all monies paid out to whom and how much for the fiscal year which will be ending here shortly. Also the accrued bills/revenue would be needed also. Mr. Mayor, why not just do this right and get and audit to settle the whole monetary debate. Let the chips fall where they may.
We really deserve better than these pieces of paper, Mayor come clean with us. We are citizens of Dayton, we are entitled to know how much, where and whom is being paid city money. Does this not tell you that we want to know what and how much the golf course is making, where it stands now and what is going on with our tax dollars. I f you think we are going to go away before Nov. election, you are sadly mistaken. Didn't the nat'l election tell you anything, people are fed up and if we don't see change, we will vote change.
According to financials, golf course made $3000. more in 2008 for memberships, 3000. more in shed rentals but in 2009, made $500. more in cart rentals. This show to date, the course made $5500. to date more in 2008. Can anybody tell us where they made the $25000. came from in revenue the first 3 months of this year? I can't see from what was passed out, how we got the extra money. Is this just manufactured figures again to try to fool us.
ReplyDeleteForgive me, I wasn't there; who handed out these financials? Were these from the city clerk?
ReplyDeleteThese financials were passed out personally by the Mayor during the meeting.
ReplyDeleteThe mayor handed them out to each in attendance.
ReplyDeleteThis just shows us more that we need an audit
ReplyDeleteI'm not sure if the figures were manufactured, but I do agree with 6:06 PM in that an audit would be very helpful in finding out exactly where the different financials came from (ie an itemized breakdown).
ReplyDeleteMaybe I'm missing it but I don't see a comparison between '09 March, April and May expenditures VS '08s for the same 3 months. (I saw the listing of net loss for those months in'08).
ReplyDeleteIs it possible the club house and course are running more efficiently with less expenditures, there by explaining the revenue increase?
An audit does need to be done. Remember the facts and figures we are looking at do not include accrals and inventories. Accrued revenue: Revenue is recognized before cash is received.
ReplyDeleteAccrued expense: Expense is recognized before cash is paid out.
What is so confusing is that city budget runs through July.
From researching golf courses most money is brought in during the frist 3-4 months of operation. Example: Revenues from memberships, cart shed rentals, green fees etc.
Also you cannot look at the golf course as a new business as it was built in 1933, this date is from http://www.thegolfcourses.net/golfcourses/IA/13372.htm
This needs to be looked at as a business under new ownership.
So if we are looking at March, April and May figures this business can look really good. From the paper we are looking at please note that the loss started to grow in August and then is shows it dropping again in April. This follows the trend of March, April and May being the best months for revenue.
Seasonal based businesses need to be looked at differently than year round. I know the golf course was open all year last year but the majority of it's revenue are seasonal. What I am saying is March, April and May should not be pulled out and used as an indicator for the whole year.
Dayton Taxpayer: From the paper I am reviewing there is no way to tell if the business is being ran more effcient. The paper is not comparing apples to apples. It does not show the surplus for last year's March, April and May. I assume there could have been a surplus for those months also as that is when the most revenue is brought in.
ReplyDeleteI agree; March, April and May should not be pulled out and used as an indicator for the whole year.
ReplyDeleteOn the other hand; those numbers represent the beginning of the current '09 golf season, so it's nice to know how this season's starting out.
A lot of people on this blog have asked for these numbers. The format may not be perfect yet - but it's a start. It's fine to question facts and figures but before everyone puts this under the microscope...it would be a gesture of good will to acknowledge requests was heard and honored.
Both sides of the issue have to meet half way.
I would like to say thank you to the mayor, city council and parks and rec board for providing these numbers.
Dayton Taxpayer: I did appreciate getting this information. I agree that both sides do need to meet in the middle. I do think an audit would go along way to meeting in the middle. It would set peoples minds at ease and it could also save the golf course more than the 3000.00 to 4000.00 it may cost. An independant audit has been know to save money in the long run by checking that policies and procedures are being followed. Indpendant auditors also point out areas of improvements and ways to save money.
ReplyDeleteStop the bulls--t, give us an audit, not just some numbers masked to throw a bit of cheese, act in real good faith and maybe we can come to some sort of compromise. Half truths and ineuendos are what the mayor handed out. Give us some figures we can make sense of.
ReplyDeleteAn addition to my last post:
ReplyDeleteIt would make me very happy to have the golf course make money. I am not saying that there is any fraud involved. I just feel an audit could improve operations. Along with the improvements it would show soladarity.
7:08 and 7:03 pm posts went together.
ReplyDeleteCan someone explain, when it show that the golf course had 25,???, in revenue for Mar., April, and May, why did they have to borrow 25,000 dollars from the light board to make a payment? Does this make sense to anybody? Maybe we should have an audit, so we can see numbers in black and white, not grey.
ReplyDeleteBecause they are still loosing money year to date.
ReplyDeleteWhat would be nice is an audit, first and foremost. If papers are to be handed out like this, then they should be lengthy complete records. As in all bills and to whom paid. All income listing the number of greens fees paid and clubhouse rental. All wages for the months and to whom paid. Of course the income will be higher for the golfing months. That somewhat stands to reason. Most entertainment venues have good and bad months. I am sure the theme park in Des Moines makes more money during the summer than in the dead of winter. We need a complete and thorough audit. If not that, then a complete breakdown of all monies taken in and from where, and all monies paid out to whom and how much for the fiscal year which will be ending here shortly. Also the accrued bills/revenue would be needed also. Mr. Mayor, why not just do this right and get and audit to settle the whole monetary debate. Let the chips fall where they may.
ReplyDeleteI second that.
ReplyDeleteFew questions to anyone that knows.
ReplyDeleteDoes anyone know how the restaurant business was figured into the financials?
Was the updated greenskeeper pay figured into the financials already or does that updated pay get figured in at a later point?
What exactly makes up the expenditures?
I really appreciate this information but it seems very generalized. Thank you.
We really deserve better than these pieces of paper, Mayor come clean with us. We are citizens of Dayton, we are entitled to know how much, where and whom is being paid city money. Does this not tell you that we want to know what and how much the golf course is making, where it stands now and what is going on with our tax dollars. I f you think we are going to go away before Nov. election, you are sadly mistaken. Didn't the nat'l election tell you anything, people are fed up and if we don't see change, we will vote change.
ReplyDelete