3501 Quadrangle Blvd., Suite 270, Orlando, FL 32817
Phone: 407-723-5900	Fax: 407-723-5901
https://universityparkrd.com/

The workshop of the Finance Committee of the University Park Recreation District will be held on Monday, April 13 at 11:00 am at the Business Offices located at 8301 The Park Boulevard, University Park, FL 34201 and or virtually.
Meeting ID: 813 9750 2881 Passcode: 002603
Join meeting via Zoom: https://us02web.zoom.us/j/81397502881?pwd=SCbk9OeYy358tBVEeIz3WUMWonIpCx.1
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Finance Committee Workshop Agenda
Organizational Matters
Call to Order
Roll Call to Conﬁrm Quorum
Public Comment Period [for any members of the public desiring to speak on any proposition before the Committee]
Business Matters
Review & Discuss Proposed Operating Budget (Enterprise Fund) FY 2027
Review & Discuss Proposed Capital Budget (Enterprise Fund) FY 2027
Review & Discuss Proposed General Fund Budget FY 2027
Review & Discuss Proposed Debt Service Fund Budget FY 2027
Review & Discuss Proposed Capital Irrigation Fund Budget FY 2027

Next Meeting Scheduled
Date	Meeting Type	Time	Location	Note	
April 15, 2026	Finance Committee Meeting	3:00 pm	Business Offices	In person or by Zoom	

Finance Committee Member Requests & Comments Public Comments
Adjournment

Proposed Operating Budget (Enterprise Fund) FY 2027

UNIVERSITY PARK RECREATION DISTRICT

FY 2027 Budget
October 2026 – September 2027

May 2025 Presentation

Enterprise Fund – Executive Summary

	FY'27 Budget		FY'26 Forecast		FY'26 Budget	
						
Revenue	14,335		13,782		13,702	
						
Expenses	13,854		13,072		13,299	
						
Operating Income	481		710		403	
						
Capital Allocation	1,387		1,384		1,174	

Total Revenue Breakdown

Total Revenue: $14,335
Membership Dues $7,056 Golf Operations $3,972 Racquets & Fitness $86 Dining	$3,215

MEMBERSHIP DUES	GOLF OPERATIONS RACQUETS & FITNESS	DINING INCOME

22%

1%	49%

28%

Total Expense Breakdown

Payroll Expense $7,800	Direct Expense $6,054

$ 1,875

$ 888

$ 406

$ 1,336

$ 1,023

$ 187

$ 406	$ 805

$ 2,045

$ 2,586

$ 507

$ 1,789

Golf Operations	Racquets & Fitness
Dining	Golf Course Maintenance General & Administrative

Golf Operations	Racquets & Fitness
Dining Oper Exp	Golf Course Maintenance
General & Admin	Property Insurance Dining CGS

Key Assumptions – Membership Dues

	Family	Single	
	2027 Budget	2026 Actual	2027 Budget	2026 Actual	
Full Memberships	$	12,425	$	11,715	$	9,450	$	8,910	
Racquets Memberships	$	5,355	$	5,050	$	4,015	$	3,785	
Social Memberships	$	1,650	$	1,550	$	1,275	$	1,200	

Annual Dues Increases:
Full: $710 / $540
Racquets: $305 / $230
Social: $100 / $75
Annual Full Membership capped at 450

Minimal Pass Increases:
Pickleball Pass $800 (+$50)
Twilight Pass $800 (+$50)
Social Access Pass $550 (+$50)
Social Driving Range Pass $500 (+$50)

Initiation Fees, Capital Funding, & Capital Dues

Initiation Fees:

	2026 / 2027 Fees		2025 / 2026 Fees	
	Resident	Non-Resident		Resident	Non-Resident	
Full	$	25,000	$	50,000		$	20,000	$	30,000	
Racquets	4,500	5,500		4,000	5,000	
Social/Resident	3,500	N/A		2,500	N/A	
Continued Outside Golf Allocation (10%)
Capital Dues – Same percentages as 2023–2026
Resident: 5% of Dues
Non-Resident: 10% of Dues
Capital Dues rates remain flat & competitive locally

Key Assumptions – Golf Operations

Golf Rounds

	2027 Budget	2025 Actual	Last 12 Mths	
Member Rounds	44,446	41,706	42,859	
Outside Rounds	28,281	26,639	29,372	
Total	72,727	68,345	72,231	
Continue prioritizing member rounds and experience
More Full Members – capacity available for members
10% Social Member Discount
Trail Fee Increase

	2027 Fees		2026 Fees	
	Resident	Non-Resident		Resident	Non-Resident	
Single	$	1,950	$	2,950		$	1,750	$	2,650	
Family	2,450	3,675		2,200	3,300	

Key Assumptions – Dining Operations

No disruption due to Renovation of Kitchen considered
Similar hours of operation to FY2026
Revenue reflects modest increase aligned with menu price adjustments
Wage expenses increased for minimum wage & cost-of-living adjustments
Food costs reduced via improved kitchen efficiency, strategic planning, and optimized menu design

Key Assumptions – Labor

No significant headcount increases or decreases
Blended 4-5% increase for salaried employees
Hourly Wages:
–Minimum wage increase
–Discretionary increases generally around 3–4%
Total Payroll reflects 54% of Total Revenue, near industry standard

Enterprise Fund – Executive Summary

	FY'27 Budget		FY'26 Forecast		FY'26 Budget	
						
Revenue	14,335		13,782		13,702	
						
Expenses	13,854		13,072		13,299	
						
Operating Income	481		710		403	
						
Capital Allocation	1,387		1,384		1,174	

Proposed Capital Budget (Enterprise Fund) FY 2027

	University Park Country Club				
	Fiscal Year 2027				
	Capital Budget Detail - Replacements	Needed			
Department	Asset Name	Year	Installed	Estimated Cost	
Grille-Cafe	Kegerator, Beverage Air 6 Tap DD58		2004	4,223	
Grille-Cafe	Merchandiser, True Single Glass Door GDM 23		1999	3,605	
Grille-Cafe	Refrigerator, Perlick 2 Door PS2DP		2004	4,996	
Grille-Cafe	Refrigerator, True Under Counter Cooler TBB-2		2004	5,150	
Grille-Cafe	Ice Maker, Hoshizaki Water and Ice Dispenser		2016	4,841	
Varsity Club	Refrigerator, True Varsity Club 3 Tap Kegerator		1999	3,914	
Kitchen	Walk-In, Kolpak Freezer Capital Refurbishment		2019	5,000	
Fitness	Aerobic, True Recumbent Bike		2017	3,811	
Fitness	Aerobic, True Recumbent Bike		2017	3,811	
Racquets	Court, Ball Machine		2006	6,695	
Golf Operations	Door, Pro Shop Double Glass and Wood		1999	18,540	
Golf Operations	Roof Assembly, Cart Barn Flat Roof Membrane		1999	53,354	
Golf Operations	Wall, Cart Barn Metal		1999	77,250	
Golf Operations	Rolling Rack System, Renovation		1999	7,725	
Golf Operations	Ice & Water Machine, Hoshizaki		2022	9,270	
Golf Operations	Water & Ice Machine, Hoshizaki Holes 10-18		2022	4,841	
Golf Operations	Water & Ice Machine, Hoshizaki Holes 1-9		2019	4,841	
Golf Operations	Water & Ice Machine, Hoshizaki Holes 19-27		2022	4,841	
Golf Operations	Awning, Bag Drop		2015	7,210	
GCM	Golf Course Improvements			1,200,000	
GCM	Artificial Turf, Fiberbuilt Mat		2022	10,609	
GCM	Furniture, Bag Stand		2019	9,013	
GCM	Starter Structure, Refurbishment		2019	3,605	
GCM	Vehicle, Club Car Carryall 2		2014	13,792	
GCM	Vehicle, Club Car Carryall 2		2014	13,792	
GCM	Vehicle, Club Car Carryall 2		2014	13,792	
GCM	Vehicle, Club Car Carryall 2		2014	13,792	
GCM	Vehicle, Club Car Carryall 300		2015	13,792	
GCM	Grinder, Bernhard Express Dual Reel 5500		2020	56,940	
		Total		1,583,045	

4/10/2026	1/2

	University Park Country Club					
	Fiscal Year 2027					
	Capital Budget Detail - Items that may need to	be	replaced			
Department	Asset Name		Year	Installed	Estimated Cost	
Kitchen	Oven, Zephaire Convection Oven			2018	14,850	
Kitchen	Refrigerator, Pull Out Drawers Cold Line			1992	5,665	
Kitchen	Refrigerator, Pull Out Drawers Hot Line			1992	5,665	
Kitchen	Shelving, Shelving for walk-ins			2023	7,000	
Kitchen	Warming Cabinet, FWE Plate Carrier & Warmer			2006	6,901	
Fitness	Aerobic, True Elliptical			2017	8,446	
Fitness	Aerobic, True Elliptical			2017	8,446	
Fitness	Aerobic, True Treadmill			2017	8,034	
Fitness	Aerobic, True Treadmill			2017	8,034	
Fitness	Aerobic, True Treadmill			2017	8,034	
Fitness	Aerobic, True Treadmill			2014	8,034	
Fitness	Aerobic, True Upright Bike			2017	3,399	
Fitness	Aerobic, True Upright Bike			2017	3,399	
Racquets	Demolition of existing ball/work shed		New		TBD	
Racquets	New Ball/Work Shed		New		6,000	
Racquets	Hitting Wall		New		TBD	
Racquets	Court 1 Remove Landscape, Replace With Bleachers/Seating		New		TBD	
GCM	Blower, Buffalo			2015	8,549	
GCM	Vehicle, Club Car Carryall			2010	13,390	
			Total		123,846	

4/10/2026	2/2

Proposed General Fund Budget FY 2027

University Park Recreation District FY2027 Proposed General Fund Budget

	Actual	Anticipated	Anticipated	FY 2026	FY 2027	
	Through	Mar. - Sept.	FY 2026	Adopted	Proposed	
	2/28/2026		Total	Budget	Budget	
Revenues
PrYr Surplus	
-	
-	
-	
9,088	
2,878	
Inter-Fund Transfers - Debt Service to O&M	5,486	70,000	75,486	70,000	70,000	
Inter-Fund Transfers - Country Club to O&M		175,000		72,412		247,412		220,912		269,822	
	$180,486	$142,412	$322,898	$300,000	$342,700	

General & Administrative Expenses
Assessment Administration	

10,000	

-	

10,000	

10,000	

10,000	
Audit	29,125	5,000	34,125	35,000	35,000	
Bank Fees	120	-	120	500	500	
Bond Admistration Fee	6,687	-	6,687	7,500	7,500	
Contingency	300	420	720	15,000	15,000	
Dissemination Agent	5,000	-	5,000	5,000	5,000	
District Counsel	65,722	84,000	149,722	110,000	150,000	
Dues, Licenses, and Fees	175	900	1,075	2,500	2,500	
Election Costs	6,691	-	6,691	10,000	-	
Insurance	21,569	-	21,569	17,500	24,200	
Legal Advertising	5,065	2,100	7,165	5,000	5,000	
Management	29,167	40,833	70,000	70,000	75,000	
Meeting Set Up			-	5,000	5,000	
Office Supplies			-	1,000	1,000	
Postage & Shipping	36	50	86	1,000	1,000	
Web Site Maintenance	2,700	3,300	6,000	5,000	6,000	
Total General & Administrative Expenses	$182,357		$136,603		$318,961		$300,000		$342,700	

Proposed Debt Service Fund Budget FY 2027

University Park Recreation District			
FY 2027 Proposed Debt Service Budget			
FY	2027	Proposed Budget	
REVENUES:			
Series 2019 Bonds Special Assessments	$		1,594,068.75	
TOTAL REVENUES	$		1,594,068.75	

EXPENDITURES:			
Interest 11/01/2026		333,856.25	
Interest 5/1/2027		333,856.25	
Principal 5/1/2027		600,000.00	
TOTAL EXPENDITURES	$		1,267,712.50	

Funds Available for 11/1 Payment

Interest 11/01/2027		
326,356.25	
		
326,356.25	

Proposed Capital Irrigation Fund Budget FY 2027

University Park Recreation District
FY 2027 Proposed Capital Irrigation Budget

FY 2027 Proposed	
REVENUES:		Budget	
Series 2024 Note Special Assessments	$	5,000,000.00	

TOTAL REVENUES	$	5,000,000.00	

EXPENDITURES:
Series 2024 Note due 8/11/2027	

$	5,000,000.00	

TOTAL EXPENDITURES	$	5,000,000.00