BCGC Audit Repts by Year

 Boulder Creek Golf Club (BCGC)


Summary of City of Boulder City Audited Comprehensive Annual Financial Reports, pages for Boulder Creek, actual amounts                
FY ending June 30                         2002               2003             2004              2005               2006                 2007             2008             2009*             2010**             Total

Page number                                 86-87               149              143                  87                   89                    91                 91                 91

Receipts                                                       $1,285,123      $2,177,811      $2,464,779      $2,522,116       $3,102,583     $3,088,608      $2,472,653     $2,147,087     $19,260,760

Salaries & wages                                             $674,756         $833,215           $15,007            $7,132            $12,397         $14,850          $15,316                            $1,572,673
Supplies & services (incl. utilities)                   $1,733,431      $3,285,370       $2,869,533      $2,976,487       $2,859,682     $3,002,623     $1,926,258     $1,793,025     $20,446,409
Depreciation                                                    $620,692      $1,220,376       $1,220,376      $1,220,376          $814,068        $764,373        $680,678        $814,068       $7,355,007
Current expenses subtotal                              $3,028,879      $5,338,961      $4,104,916      $4,203,995        $3,686,147     $3,781,846     $2,622,252     $2,607,093      $26,766,996

Operating income                                         ($1,743,756)    ($3,161,150)     ($1,640,137)   ($1,681,879)         ($583,564)      ($693,238)      ($149,599)     ($460,006)      ($9,653,323)

Interest income                                                  $63,272          $50,396
Interest expense                                              ($672,999)     ($728,772)         ($569,862)      ($504,265)        ($416,795)      ($416,343)       ($396,770)     ($436,212)     ($4,142,018)
Capital expense                                                                                                                                                                                                           ($5,781)

Net income                                                   ($2,353,483)   $3,839,526)      ($2,209,999)    ($2,186,144)     ($1,000,359)    $1,109,581)       ($546,369)     ($901,999)    ($14,147,460)
(before transfers)

Transfers in                             $8,700,000          $318,000    $2,494,173        $1,361,420      $1,483,241       $1,229,788     $1,159,975         $632,101       $851,977      $18,230,675
(utility fund/general fund)

Net income                                                   ($2,035,483)   ($1,345,353)        ($848,579)      ($702,903)          $229,429         $50,394           $85,732        ($50,022)     ($4,566,763)


*Beginning in FY 2008-2009, electric, water, sewer, and refuse charges were reduced from the commercial retail rate to the wholesale delivery rate. Utility cost
was nominally reduced by $676,663 from FY 2007-2008 by this accounting method change.


** Preliminary results for FY 2009-2010. From the June 2010 monthly monitoring report presented to the City Council by city staff, Agenda Item No. 15, August 10, 2010,
page 179 of the Agenda Packet. See http://www.bcnv.org/AgendaPackets/CityCouncil/2010-08-10%20AgendaPacket.pdf


 
Audited Comprehensive Annual Financial Reports, pages for Boulder Creek          
FY ending June 30     2002 2003 2004 2005 2006 2007 2008 2009* total
page number in report
86-87 149 143 87 89 91 91 91
Actual Amounts










                         
receipts         $1,285,123 $2,177,811 $2,464,779 $2,522,116 $3,102,583 $3,088,608 $2,472,653 $17,113,673
                         
sal & wages       $674,756 $833,215 $15,007 $7,132 $12,397 $14,850 $15,316 $1,572,673
supplies & services       $1,733,431 $3,285,370 $2,869,533 $2,976,487 $2,859,682 $3,002,623 $1,926,258 $18,653,384
  includes utilities and                     
  service contracts; Andy and Bill                  
                         
depreciation       $620,692 $1,220,376 $1,220,376 $1,220,376 $814,068 $764,373 $680,678 $6,540,939
                         
expenses subtotal       $3,028,879 $5,338,961 $4,104,916 $4,203,995 $3,686,147 $3,781,846 $2,622,252 $26,766,996
                         
operation income       ($1,743,756) ($3,161,150) ($1,640,137) ($1,681,879) ($583,564) ($693,238) ($149,599) ($9,653,323)
                         
interest income       $63,272 $50,396            
interest expense       ($672,999) ($728,772) ($569,862) ($504,265) ($416,795) ($416,343) ($396,770) ($3,705,806)
capital expense                      
                         
net income (before transfers)     ($2,353,483) ($3,839,526) ($2,209,999) ($2,186,144) ($1,000,359) ($1,109,581) ($546,369) ($13,245,461)
                         
transfers in (utility fund/general fund) $8,700,000 $318,000 $2,494,173 $1,361,420 $1,483,241 $1,229,788 $1,159,975 $632,101 $17,378,698
                         
net income  (loss)       ($2,035,483) ($1,345,353) ($848,579) ($702,903) $229,429 $50,394 $85,732 ($4,566,763)






















*Reduced utility rate charges started FY 2009









from commercial retail to wholesale delivery









enabling a reduced transfer from GF













Other changes from FY 2007-2008 to 2008-2009 are reduction is service contracts, reduced maintenance,etc.  Utility cost reduced $676,663 from prior year by accounting trick.