2021 Profit and Loss Statement_8079-3.pdf
PDF 46 KB Posted
- Attached to
- Eagle Creek Golf Course 3 Yr Management Contract
- Solicitation number
- 26-422DNR-LNDMG-B-50919
- Issued by
- St. Clair County, Illinois
About this file
This is a 2021 Profit and Loss Statement for Rodems Golf Management's operation of Eagle Creek Golf Course in Illinois, covering the calendar year January through December 2021. The statement provides a comprehensive financial overview of the golf course's operations, detailing all revenue streams, cost of goods sold, operating expenses, and net income for the period.
The golf course generated total income of $620,800.24, with the largest revenue sources being the quarterly management fee of $240,000.00, green fees totaling $153,395.81, cart fees of $93,175.48, and season passes generating $51,735.00. Additional revenue came from food and beverage sales ($55,154.02), merchandise ($19,892.06), driving range fees ($4,191.00), and miscellaneous sources. After accounting for cost of goods sold of $32,239.49, the operation achieved a gross profit of $588,560.75. Operating expenses totaled $363,102.77, including significant labor costs for golf shop ($72,420.77) and grounds maintenance ($102,886.25), along with substantial expenditures for fertilizer and chemicals ($48,192.48), repairs and maintenance ($50,820.92), utilities ($20,749.60), and fuel and oil ($25,473.13). The statement reflects a net ordinary income of $225,457.98, and after accounting for other income and expenses including a bad debt adjustment of $60,000.00, the operation reported a final net income of $283,842.62 for 2021.
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Text version
Jan - Dec 21
Ordinary Income/Expense Income
1001-Green Fees Daily Green Fees 152,513.81 Outings 600.00 Tournaments 282.00
Total 1001-Green Fees 153,395.81
1002-Cart Fee Golf Car Rental 93,175.48
Total 1002-Cart Fee 93,175.48
1003-Driving Range Driving Range Golf Shop 4,191.00
Total 1003-Driving Range 4,191.00
1004-Golf Shop Merchandise 19,892.06 1005-Season Pass
Season Pass Annual 26,060.00 Season Pass High School 4,375.00 Season Pass Prepaid 21,300.00
Total 1005-Season Pass 51,735.00
1006-CDGA Handicap 300.00 1007-Food & Beverage
Beer & Liq 36,440.36 Food 5,520.14 NA Beverage 13,193.52
Total 1007-Food & Beverage 55,154.02
Golf Course Sponsorship 3,300.00 Rental Clubs 130.00 Golf Shop Awards -64.58 Short/Over -408.55 Quarterly Management Fee 240,000.00
Total Income 620,800.24
Cost of Goods Sold Cost of Goods Sold
Beer & Liq COGS 15,331.57 Food COGS 3,883.30 N/A Beverages COGS 8,182.54 Merchandise COGS 4,842.08
Total Cost of Goods Sold 32,239.49
Total COGS 32,239.49
Gross Profit 588,560.75
Expense Advertising and Promotion
Awards 41.26 Marketing 2,690.00 Season Pass Promo 650.00
Total Advertising and Promotion 3,381.26
Insurance Expense Liquor Liability 527.00
Total Insurance Expense 527.00
4:18 PM Rodems Golf Management (Eagle Creek) 03/13/22 Profit & Loss Accrual Basis January through December 2021
Licensing 1,594.40 Meals and Entertainment 380.52 Supplies 13,328.13 Credit Card Processing 6,006.43 Bank Service Charges 13.85 Dues and Subscriptions 187.50 Employee Meals 423.40 Raincheck Redeemed 682.52 Golf Shop Labor
General 33,254.49 Manager 33,902.56 Payroll Taxes 5,263.72
Total Golf Shop Labor 72,420.77
Grounds Labor General 56,462.84 Manager 39,230.73 Payroll Taxes 7,192.68
Total Grounds Labor 102,886.25
Professional Fees 15,000.00 Utilities
Water 1,472.90 Electricity 13,705.03 Cable & Internet 1,901.65 Porta-Potty 2,200.00 Trash Service 749.69 Telephone Expense 720.33
Total Utilities 20,749.60
Fuel & Oil Golf Shop 6,460.52 Grounds 19,012.61
Total Fuel & Oil 25,473.13
Repairs and Maintenance Building 13.19 Equipment 41,290.13 Grounds 7,002.88 Irrigation 2,514.72
Total Repairs and Maintenance 50,820.92
Fertilizer & Chemical Early Order 34,291.83 Fertilizer & Chemical - Other 13,900.65
Total Fertilizer & Chemical 48,192.48
Tournament CDGA Fees 390.00 Golf Tournament Expenses 644.61
Total Tournament 1,034.61
Total Expense 363,102.77
Net Ordinary Income 225,457.98
Other Income/Expense Other Income
Sales Tax Discount 89.00
Total Other Income 89.00
4:18 PM Rodems Golf Management (Eagle Creek) 03/13/22 Profit & Loss
Other Expense Bad Debt -60,000.00 Sales Tax on Lease 1,704.36
Total Other Expense -58,295.64
Net Other Income 58,384.64
Net Income 283,842.62
4:18 PM Rodems Golf Management (Eagle Creek) 03/13/22 Profit & Loss
File details come from the government source that posted it. Updated .