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Bryan’s New Municipal Golf Course Lost $1 Million In Its First Year

The city of Bryan lost $1 million dollars in its first year of owning the former Briarcrest golf course.

That’s according to the fiscal year 2018 golf course operating statement that was presented during the January meeting of the city’s parks and recreation board.

Capital purchases made up just over half of the city’s $1.6 million dollars in expenses. Subtracting almost $870,000 dollars in capital purchases, the city’s loss was $135,000 dollars.

The city paid developer Wallace Phillips, who donated the course to the city, more than $176,000 dollars in management fees, its share of profits, and to pay a bonus to the general manager.

The city generated $610,000 dollars in revenue. During the first year, more than 25,000 rounds were played and there were 149 members of the new course.

The report to the parks and recreation board also indicated improvements that were made during the first year and projects that were not included during the 2019 fiscal year.

Click HERE to read and download the balance sheet presented to the city of Bryan’s parks and recreation board.

Click HERE to read and download the presentation made to the city of Bryan’s parks and recreation board.

Bryan mayor Andrew Nelson, speaking on WTAW’s The Infomaniacs, says the council will review golf course operations in March.

020619-Andrew-Nelson-comments-about-the-new-municipal-golf-course.mp3

 

Short URL: http://wtaw.com/?p=130014

Posted by on Feb 13 2019. Filed under Featured Stories, Local News for Newsletter, News.
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