RFPExhibitMForecastedProforma.pdf

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Attached to
Brookside Golf Course Management & Operation
Solicitation number
2023-RFP-722
Issued by
Los Angeles County, California

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Written by GovTribe AI ·

Exhibit M is a forecasted proforma financial document prepared for the Rose Bowl Operating Company (RBOC) related to the Brookside Golf Course management opportunity in Pasadena, California. The document provides a detailed financial projection for golf operations, family golf operations, and ancillary revenues from fiscal year 2023 through fiscal year 2028, covering golf course revenues, expenses, debt service, and net totals. The projections indicate expected growth in golf revenues, with the complex's net total increasing from $1,713,815 in FY23 to $4,426,613 in FY28, reflecting anticipated expansion of services including mini golf, driving range, and food and beverage operations.

The financial forecast demonstrates significant revenue streams and strategic financial planning, with key highlights including golf revenues projected to grow from $6,059,609 in FY23 to $7,254,666 in FY28, and the introduction of new revenue centers like mini golf (starting in FY24) and expanded driving range and food & beverage operations. The document shows planned capital reserves, with golf capital reserves calculated at $3 per played round and food & beverage capital reserves set at 3% of gross revenues. Debt service and construction-related revenue adjustments are also incorporated, suggesting a comprehensive approach to financial management and future development of the Brookside golf complex.

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‣ EXHIBIT M – FORECASTED PROFORMA FOR BROOKSIDE

Summary Report:

GOTO TO REVENUE - EXPENSES BREAKOUT: 3/13/23 reported /used for budget

GOLF OPERATIONS ONLY: FY23 Budget FY23 Projected Variance FY23 FY24 FY25 FY26 FY27 FY28

Golf Revenues $6,059,609 $6,590,615 $531,006 $6,970,476 $6,896,670 $6,961,963 $7,112,418 $7,254,666

Golf Expenses ($4,332,777) ($4,210,559) $122,218 ($4,377,205) ($4,464,749) ($4,554,044) ($4,645,125) ($4,738,027)

DED $956,000 $1,008,000 $52,000 $940,000 $1,224,361 $1,327,080 $1,361,319 $1,407,899

NET TOTAL $2,682,832 $3,388,056 $705,224 $3,533,272 $3,656,282 $3,734,999 $3,828,613 $3,924,538

FAMILY GOLF OPERATIONS FY23 Budget FY23 Projected Variance FY23 FY24 FY25 FY26 FY27 FY28

Mini Golf Revenues $0 $0 $0 $0 $472,500 $945,000 $992,250 $1,041,863

Mini Golf Expenses $0 $0 $0 $0 ($132,100) ($264,200) ($277,410) ($291,281)

Driving Range Revenues $0 $0 $0 $0 $669,000 $1,338,000 $1,404,900 $1,475,145

Driving Range Expenses $0 $0 $0 $0 $0 $0 $0 $0

F&B Revenues $0 $0 $0 $0 $425,000 $850,000 $892,500 $937,125

F&B Expenses $0 $0 $0 $0 ($276,250) ($552,500) ($580,125) ($609,131)

DED $0 $0 $0 $0 $94,965 $248,735 $261,171 $274,230

Construction Lost Revenues $0 $0 $0 $0 ($135,000) $0 $0 $0

Debt Service $0 $0 $0 $0 ($649,651) ($1,113,688) ($1,113,688) ($1,113,688)

NET TOTAL $0 $0 $0 $0 $468,463 $1,451,347 $1,579,598 $1,714,263

ANCILIARY REVENUES / CLUB HOUSE EXPENSES AND CIP:FY23 Budget FY23 Projected Variance FY23 FY24 FY25 FY26 FY27 FY28

Golf Course Enterprise Events 166,800 77,451 (89,349) 79,775 82,168 84,633 87,172 89,787

Restaurant / Catering Gross Revenues 2,200,000 2,110,844 (89,156) 2,905,000 3,192,150 3,287,915 3,386,552 3,488,148

Restaurant / Catering Expenses (1,813,600) (1,813,600) 0 (2,338,140) (2,468,284) (2,542,333) (2,618,603) (2,697,161)

Restaurant / Catering Net 386,400 297,244 (89,156) 566,860 723,866 745,582 767,949 790,988

Pro Shop / Lessons 109,031 174,739 65,708 185,223 240,780 248,003 255,444 263,107

RBOC Payroll Overhead (274,079) (274,079) 0 (280,079) (291,195) (300,882) (310,986) (321,555)

RBOC Clubhouse Overhead Expenses (AGC Managed) (418,000) (418,000) 0 (452,736) (466,318) (480,307) (494,717) (509,558)

RBOC Overhead Expenses (541,000) (541,000) 0 (650,295) (669,803) (689,897) (710,594) (731,912)

Golf Capital Reserves ($3 per played round) (332,169) (491,772) (159,603) (498,240) (748,350) (745,050) (745,200) (688,400)

F&B Capital Reserves (3% on F&B Gross) (66,000) (66,000) 0 (87,150) (95,765) (98,637) (101,597) (104,644)

NET TOTAL (969,017) (1,241,417) (272,400) (1,136,641) (1,224,617) (1,236,556) (1,252,529) (1,212,188)

NET COMPLEX TOTAL 1,713,815 2,146,639 432,824 2,396,630 2,900,128 3,949,790 4,155,682 4,426,613

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