LANCASTER GOLF COURSE FINANCIALS

The Lancaster Common Council’s decision to

have the city run the the Lancaster Municipal

Golf Course, was prompted by the hard financial

times that had afflicted the golf course.

How bad was it ???

An article in Sunday’s Dubuque Telegraph

Herald on local golf courses reports the

City of Lancaster covered a debt-service shortfall

to pay for the back-nine, with an internal

loan from the city’s general fund.

The loan was approved with the understanding

the golf course would eventually pay it off.

But that didn’t happen.

The city eventually had to write-off the

internal loan of $485,000, because the

golf course wasn’t generating the needed

revenues.

City Clerk Dave Kurihara says the city

decided to go back to having the course

run by the city, with the understanding

that money from the general fund may

have to cover the costs of running the

golf course. He says the budget subsidy

is for about $50,000. By comparison,

the city allocates about $70,000 a year

for the municipal swimming pool.

—-dash—-

Typically, the Lancaster Common Council

would go into closed session when it talked

about financial information concerning

the golf course. But Kurihara says the

city writing off the $485,000 internal loan

was in an audit report which is accessible to

the general public.

—-dash—-

By the way, the same article in the T-H also

points how difficult it is financially, to run

a golf course today. According to the

National Golf Foundation, just over

150 golf courses in the United States

closed last year.

 

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