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Table 8. Callippe Preserve Golf Course Operating Fund-Amended Budget vs. Actual
<br /> Amended
<br /> Callippe Preserve Operating Fund Budget Actual $Variance %Variance
<br /> Beginning Fund Balance $2,983 $2,983 $0
<br /> Plus Revenues 4,049,325 3,786,093 (263,232) -6.5%
<br /> Less Net Transfers (80,000) (80,000) - 0.0%
<br /> Less Expenditures (3,699,364) (3,440,849) 258,515 -7.0%
<br /> Net Income 272,944 268,227 (4,717)
<br /> Less Transfer to General Fund (269,961) (267,138) 2,823
<br /> Ending Fund Balance $2,983 $1,089 ($1,894)
<br /> The highlights of the operations of the golf course in 2013/14FY are as follows:
<br /> • 54,998 rounds of golf were played in 2013/14FY, down from 56,104
<br /> rounds play in 2012/13FY and 58,272 rounds played in 2011/12FY
<br /> • Operating revenues were less than budgeted by $263,232
<br /> • Expenses were $258,515 less than budgeted due to fewer rounds
<br /> played.
<br /> STORM DRAIN FUND
<br /> The Storm Drain Operating Fund ended the year with a fund balance of $1,127,353.
<br /> This was slightly higher than anticipated in the Amended Budget by $80,365 as shown
<br /> in Table 9. The reason for this variance was that expenditures were less than
<br /> anticipated. The General Fund budget includes an annual operating transfer to the
<br /> Storm Drain Fund of $330,000. In light of the large fund balance, staff may consider a
<br /> Midyear Budget amendment to forego the transfer another year to further reduce the
<br /> fund balance in the Storm Drain Fund.
<br /> Table 9. Storm Drain Fund -Amended Budget vs. Actual
<br /> Year-End
<br /> Recommended Year-End
<br /> Amended Budget Recommended
<br /> Storm Drain Budget Actual $Variance Adjustments Actual
<br /> Beginning Fund Balance $870,474 $870,474 $0 $870,474
<br /> Plus Re%enues 709,399 679,876 (29,523) 679,876
<br /> Less Net Transfers 330,000 330,000 - 330,000
<br /> Less Expenditures (856,853) (746,965) 109,888 ($6,032) (752,997)
<br /> Ending Fund Balance $1,053,020 $1,133,385 $80,365 ($6,032) $1,127,353
<br /> Change in Fund Balance $182,546 $262,911 $80,365 ($6,032) $256,879
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