Golf Fund

Source: PDF pp. 1110-1111 ↗ · raw: 1110 · 1111

Breadcrumb: Fund Summaries > Public Works. > Golf Fund

City of Portland Fiscal Year 2026-27 Proposed Budget Public Works> Golf Fund Golf Fund Fund Summary 2024-25 Actuals 2023-24 Actuals 2025-26 Revised Budget 2026-27 Proposed Expense $25,689,586 $23,553,442 $25,786,671 $24,420,427 Bureau Expense $15,895,762 $14,893,450 $16,556,024 $18,474,560 Fund Expense $910,776 $795,281 $9,230,647 $5,945,867 Contingency $0 $0 $5,136,914 $4,819,068 Debt Service $300,999 $293,192 $295,000 $325,535 Fund Transfers - $609,777 $502,089 $3,798,733 $801,264 Expense Unappropriated $8,883,048 $7,864,711 $0 $0 Ending Fund Balance $8,883,048 $7,864,711 $0 $0 Revenue $25,689,582 $23,553,441 $25,786,671 $24,420,427 External Revenues $17,824,871 $16,401,239 $16,814,776 $18,452,013 Charges for Services $16,721,951 $15,415,986 $16,614,776 $18,252,013 Miscellaneous $1,102,920 $985,253 $200,000 $200,000 Internal Revenues $7,864,711 $7,152,202 $8,971,895 $5,968,414 Beginning Fund $7,864,711 $7,152,202 $8,971,895 $5,968,414 Balance Fund Overview Purpose The Golf Fund is an enterprise fund that accounts for all resources and requirements of the Portland Parks & Recreation (Parks Bureau) Golf program. Revenue The primary sources of revenue to the Golf Fund result from sales to the public at each of the city’s golf courses, including revenue from food and beverage services, clothing and equipment sales, golf lessons, cart rentals, driving range fees, and collection of greens fees. Managing Agency Portland Parks & Recreation Significant Changes from Prior Year 1110

City of Portland Fiscal Year 2026-27 Proposed Budget Significant Changes From Prior Year Course management contracts at Eastmoreland and Rose City golf courses changed from concessionaire-style agreements to management agreements in FY 2022-23. Due to this change, the Golf Fund continued growth of both revenues and expenses in FY 2024-25 as all revenue now passes through the bureau with payment made to the management entity. The three most significant risks inherent to Golf program finances are related to increased inflationary pressures in operations, decreased revenue due to low demand (bad weather impacts), and failure of critical infrastructure required to maintain operations. The Fund maintains an operating contingency intended to allow for one “bad year” out of three, a rubric based on the program’s actual experience. Like much of the City’s capital infrastructure, the Golf program’s aging infrastructure has substantial major maintenance requirements. The Golf Infrastructure Maintenance Sub-Fund was established to develop a reserve to support maintenance and repair projects for Golf program assets. Golf activity had begun to stabilize following the COVID-19 pandemic. Total rounds played continued to be higher than pre-pandemic levels, which had allowed the program to continue to generate reserves for capital maintenance. The FY 2025-26 Adopted Budget reduced that major maintenance reserve by nearly $3.1 million or 50% with the transfer of $2.25 million out of that sub-fund to support Parks Bureau operations in the General Fund and by $825,525. 1111

Parent: Public Works. · PDF: pp. 1110-1111 ↗