University Park Recreation District
3501 Quadrangle Blvd., Suite 270, Orlando, FL 32817
Phone: 407-723-5900 Fax: 407-723-5901
http://universityparkrd.com/

The Meeting of the Board of Supervisors of the University Park Recreation District will be held on Friday, May 8, 2026, at 2:00 PM at the Business Offices, 8301 The Park Boulevard, University Park, FL 34201 and virtually.
Meeting ID: 648 161 1158	Passcode: 597609 Join meeting via Zoom:
https://us02web.zoom.us/j/6481611158?pwd=eWEwQ01tWUFSNDJRTUpNbCtoQmpHUT09&o mn=84588938513
Join via mobile:	+16469313860,,6481611158#,,,,*597609# US
+19292056099,,6481611158#,,,,*597609# US (New York)

BOARD OF SUPERVISORS’ MEETING AGENDA

Organizational Matters 	(2:00-2:10PM)
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 Board]

Administrative Matters	(2:10-2:30PM)
Review of Candidates for Vacant Board Seat 3
Nominations/Appointment of Candidate to Vacant Board Seat 3 (Term Expires February 2028)
Consideration of Resolution 2026-14, Appointing District Officer Roles
Public Records Request Summary List
Correspondence Summary List

Staff Report Matters		(2:30-2:45PM)
District Counsel
District Manager
Club Management
Management Discussion & Analysis Report
Committee Reports
Finance
Strategic Planning

Old Business Matters	(2:45-3:15PM)
Update of Boardwalk Project – John Fetsick
Review of Proposed FY 2027 Budgets
Operating Budget (Enterprise Fund)
Capital Budget (Enterprise Fund)
General Fund
Debt Service
Capital Irrigation Fund
New Business Matters	(3:15-3:45PM)
Review of the Preliminary Deck for the Town Hall Meeting (provided under separate cover)
Discussion of Proposed Governance Committee Options – Scott Huebner
Discussion of Fitness Center Upgrade – Greg Selep

Date	Meeting Type	Time	Location	
May 12, 2026	Town Hall Meeting	2:00 PM	To Be Determined	
May 13, 2026	Strategic Planning Committee Meeting	3:00 PM	University Park Business Offices	
May 20, 2026	Finance Committee Meeting	3:00 PM	University Park Business Offices	
June 2, 2026	Board of Supervisors’ Meeting	2:00PM	University Park Business Offices	
June 10, 2026	Strategic Planning Committee Meeting	3:00 PM	University Park Business Offices	
June 12, 2026	Board of Supervisors’ Meeting	2:00PM	University Park Business Offices	
June 17, 2026	Finance Committee Meeting	3:00 PM	University Park Business Offices	
June 30, 2026	Board of Supervisors’ Meeting	2:00PM	University Park Business Offices	

Supervisor Comments & Future Agenda Items	(3:45-4:00PM)

Adjournment

University Park Recreation District

Review of Candidates for Vacant Board Seat 3

John E. Haddock 7219 Chatsworth Court University Park, Fl 34201 Mobile 941-302-1074
ccmrp2@msn.com

RESTRUCTURING…INTERNATIONAL…MARKETING… MANUFACTURING…STRATEGY…ACQUISITIONS…BOARD EXPERIENCE
Highly successful career in specialty chemicals and stored power industries leading businesses from start ups to
$250 million in revenue, with multiple product lines and markets. Experienced leader who has consistently built and repositioned businesses for higher profits through organic growth, divestment and acquisitions. Strong international experience with assignments in Europe and Quebec and extensive interaction within global companies.

PROFESSIONAL EXPERIENCE
Valtris Specialty Chemicals, Independence, OH	2015 to 2024
Board Member
Polymer additives company acquired by H.I.G. Capital in 2014 from Ferro Corporation.
MidOcean Partners-New York, New York	2007 to present A leading mid-market private equity fund
Management Affiliate
Advise on acquisitions and due diligence in the chemicals and stored power industries, as well as general industrials sectors.
AVESTOR – Boucherville, Québec
A leader in innovative stored power solutions
President and CEO	2005 – 2007
Recruited to take AVESTOR from a start up phase to commercialization into the markets and steer the company onto a path of growth and profitability. Took company through bankruptcy process and sold it when strategic direction of the two owners changed.
Signed $170MM deal with leading telecom as launch customer
Increased sales from $3MM in 2004 to 2006 run rate of $60MM, order backlog $200MM
Improved cash flow by $90MM, excluding asset sales
Shut satellite plant allowing monetization of asset with $60MM gain
Reduced SGA by 13%
UBS Capital Americas – New York, New York	2002 – 2005
A $1 billion private equity fund

Senior Advisor
Partnering with UBS to make acquisitions in the chemical industry, and then act as Chief Executive Officer.

Ferro Corporation – Cleveland, Ohio	1999 – 2002
A $2 billion producer of specialty chemicals

World-Wide Business Director-Pharmaceuticals and Fine Chemicals
Recruited to lead and accelerate growth of a declining chemical business. Full profit and loss responsibility. Directed all functions including sales, marketing, research, manufacturing and strategy of $110 million business.
Developed and implemented a strategy targeting pharmaceutical chemicals and services. Bought new platform company. Pharmaceutical sales grew organically 24% annually to $30 million.

Shifted remaining businesses to value-added customer focus, improving gross margins by over 20%
Sold non-core flame retardant business and repositioned petroleum additive business.
Rhone Poulenc (Rhodia) – Cranbury, New Jersey	1990 – 1999
A $6 billion French producer of specialty chemicals

Vice President and General Manager – Coating and Construction Materials	(1995 – 1999)
Chairman-RP Shared Services
Promoted to turn-around a group of under-performing product line units, with strategy to build a single market-driven organization. Full profit and loss responsibility for this new unit. Directed sales, marketing, manufacturing, research and strategic planning. Global leader for all RP activities at major paint companies including Dupont and PPG. Additional role as leader of Shared Services Group, overseeing service groups with 500 employees and $90 million budget.
Increased operating profit by 42% over 3 years. Tripled EVA.
Built customer partnerships and secured long-term supply contracts that increased market share in isocyanates by 5%, defoamers by 6%, and ink additives by 20%.
Reduced Shared Services costs by 10%.
Vice President and General Manager, Fine Organics Division	(1992 – 1995)
Responsible for $230 million product-based unit, producing a diverse range of fine chemicals and intermediates for the chemical industry. Directed operations at six major sites, with asset base of $200+ million, operating budget of $50 million, and 500 employees. Led manufacturing, sales, finance, marketing, technical service and supply chain.
Increased annual operating profit from loss to an EBIT of $16 million in three years.
Increased free cash flow from negative to over $30 million per year.

Business Director-Silicones	(1991 – 1992)
Profit and Loss responsibility for $45 million silicone operation, manufacturing specialty elastomers for automotive and aerospace operations.
Reduced losses from $6 million per year to break-even through downsizing and product line rationalization.
Manchem – Princeton, New Jersey	1980 – 1990
$16 million producer of metal organic compounds.

President
Increased sales from $1 million to $16 million, EBIT from loss to positive $2.5 million.

Vice President and General Manager	(1980 – 1987) Took over start-up company losing money. Changed focus from commodities to high margin specialties.
Sun Chemical – Carlstadt, New Jersey	1972 – 1980
Responsible for developing new ink systems for printing.

BOARD EXPERIENCE
Valerus Specialty Chemical	2015 to 2024
AVESTOR	2005-2007

Education
MBA, Finance – Rutgers Graduate School of Management, Newark, New Jersey BS, Chemistry – Seton Hall University, South Orange, New Jersey Senior Management Program, INSEAD – Fontainebleau, France
Executive Management Program – Columbia University School of Business, New York City, New York

Gail Klein - Application for consideration to position on UPRD Board

Education:
BS - Cornell University
Master of Public Administration - The George Washington University
IBM Professional Program Manager Certification

Experience Summary
Over 25 years Program Management experience
IBM Federal Systems and Office Products Divisions
Federal Project management contractor/consultant to US Navy, IRS, DOL Office of Workers Compensation
Project management in several privately owned companies.

Manager, Performance Management and Support - Program management, business controls, financial planning and analysis, contract administration.

Senior Product Planner - Technical and business planning for IBM's publishing products. Prioritized requirements, developed tactical and strategic product plans, cost estimates, budgets, schedules, cost and revenue projections.

Financial Analyst - Financial planning and cost assessment for software development and integration programs. Established and monitored budgets, schedules
and costs. Prepared monthly cost, status, and performance reports.

Cost Proposal Manager - Developed Cost Proposals and supporting business cases. Coordinated input from technical, marketing and contract staff.

Expertise
Project Management,analytic and planning expertise applicable to needs of the University Park Recreation District:

Gathering, validating, and documenting requirements. Assessing options and tradeoffs and estimating costs Providing cost benefit analysis and life cycle cost estimates
Coordinating competitive assessments, procurement, and installation of hardware and software products.

Dale Otterman
7919 Warwick Gardens Lane
941-544-6416 | daleotterman@comcast.net Social Member with Fitness Pass

For over 22 years, I have been deeply invested in the success of University Park. During that time, we successfully purchased UPCC, giving residents greater control over our future. The club is truly the heart of the community, and a majority of residents have supported continued investment in its improvement. This commitment helps ensure that University Park remains a premier club in the area.

If appointed to the board, I will follow through on approved improvements, protect ﬁnancial stability while maximizing member value, enhance the value of our social memberships, and improve transparency and communication with residents.

My involvement in University Park includes four years on the Fitness & Wellness Advisory Group, participation in the Warwick Gardens Neighborhood Committee, and co-founder of Solo Connections.

Outside of the community, I served as a Guardian ad Litem for children in the dependency court, am a member of the League of Women Voters, and a volunteer for Embracing Our Differences.

I built my career in banking operations, serving as Vice President of Customer Information Services where I developed strong management and communication skills. I later founded and co-directed ParentPower, a nonproﬁt focused on increasing parental involvement in education. I also served as President of PTA/PTO organizations at all school levels and was elected to the School

Board, dedicating signiﬁcant time to improving our public education.
I have always believed that when you beneﬁt from a community, you have a responsibility to give back. I have been proud to do so in University Park and would welcome the opportunity to serve on the RD board as we continue our path of progress and success.

I bring proven leadership, strong communication skills and prior board experience. I am fully prepared to commit the time and effort this role requires. I respectfully ask for your support as we build a strong, ﬁnancially sound community.

RUSSEL ‘RUSTY’ PIERSONS

UPRD Board Member
February 2023 – February 2026

Willowbend Country Club Board Member (2006 – 2011) Vice President (Second Term)

Qualifications and Relevant Experience
Served on the UPRD Board from February 2023 through February 2026.
Served on multiple boards, including Willowbend Country Club (Vice President, second term) and United Way of Cape Cod.
Selected as the Board representative for the inaugural UPRD Strategic Planning Committee; delivered a comprehensive overview report to the Board.
Met with legal counsel and the plaintiff at the Board’s request to explore potential settlement or compromise options on our litigation; reported findings and recommendations back to the Board.
Owner of several growth-oriented companies with a focus on strategic planning, sales, and marketing, supported by strong fiscal discipline. Developed both long-and short-term strategies centered on profitability, growth, and expansion. Consistently met or exceeded budgeted goals for revenue, expenses, and profit.
Proven leader in change management and brand development.
Executive leader with a track record of identifying and developing high-performing talent, fostering a team-driven, customer-focused culture.
Honored my 2022–2023 campaign commitment to actively listen to residents and members, including past UPCC Board members, club staff, active and non-active members, and homeowners. I continue to engage with board members, general managers of other clubs, and club management companies to expand my knowledge and apply best practices for UPRD.
Established relationships with club consulting firms, such as Strategic Club Solutions.
Commitment to the Supervisor Role
Will continue to bring the same level of dedication, time commitment, and positive, results-driven approach demonstrated over the past three-plus years on the UPRD Board, always prioritizing the best interests of residents and the district.
Maintained a significant time commitment as a Board member, including ongoing communication, feedback, and engagement with residents and members, while supporting club management and staff as needed.

Priorities for the UPRD (Short- and Long-Term)
Support the Chair and fellow Board members while representing the perspectives of residents and members. Promote open dialogue to clearly define and align homeowner expectations.
Work toward a timely and diplomatic resolution of the ongoing legal matter involving UPRD.
Ensure engagement of a professional club consultant (Strategic Club Solutions) to evaluate all aspects of operations and provide recommendations aligned with UPRD’s (5year) strategic plan, financial position, and capital investment priorities—prior to further major expenditures. Outcomes must meet the long-term needs of the community while incorporating member input.
Following completion of the consultant’s work, implement Board-approved capital projects—such as the previously approved golf course irrigation system—within a realistic budget, on schedule, and with results that meet or exceed member expectations.
Promote a sustainable, profitable business model aligned with strategic planning and capital investment initiatives.
Continue holding UPRD Board meetings in accessible venues such as the Lakeside Room/Varsity Club to encourage transparency and community involvement.
Assessing Current and Future Needs of UPRD
Establish a Governance Committee to support the Board and ensure long-term stability, balancing member expectations with financial responsibility while maintaining consistent policies and direction.
Implement a standardized vendor bidding process to improve transparency and reduce the potential for favoritism.
Initiate discussion regarding potential expansion of the Board from five to seven members.
Increase resident involvement by forming committees that report to the Board, where appropriate, while remaining compliant with applicable regulations.
Set clear expectations and objectives for all committees, with a focus on fact-based, results-oriented reporting.

Personal Background
Bachelor of Science in Business and Economics, Ashland University
Extensive career in media, including newspaper, magazine, television, digital, social media, and sales
Entrepreneur and business owner; consultant with PGA of America

Board Candidate Profile
Experienced executive and business leader with a strong background in financial oversight, strategic planning, and team leadership. Proven ability to evaluate complex issues, make balanced decisions, and act in the best interest of stakeholders. Brings a collaborative, transparent approach to governance, with a focus on fiscal responsibility, community engagement, and long-term planning.

Core Qualifications
Budgeting & Financial Oversight
Strategic Planning & Governance
Policy Development & Implementation
Team Leadership & Consensus Building
Vendor & Contract Evaluation
Stakeholder & Community Relations
Operational Efficiency & Cost Control
Professional Experience
Lighthouse Media Solutions - President / CEO September 2009 – December 2018
Founding Partner; built and scaled a multi-platform media company
Consultant - PGA Magazine / Metropolitan Golf Association March 2008 – March 2009

Cape Cod Life Publications - Partner / President June 2003 – March 2008

Cahners Publishing Company - Vice President, Supply Chain Division April 1993 – May 2003
Managed division of 600+ employees with full P&L responsibility Playboy Magazine - North Mid-west Sales representative
Education & Leadership
Ashland University, Ashland, Ohio
Bachelor of Science in Business / Economics
Varsity Baseball (4 years)
Student Government (2 years)
Vice President, Senior Class
Community & Board Interest
Committed to supporting the community through:
Responsible financial stewardship
Transparent decision-making
Fair and consistent policy enforcement
Long-term planning that protects property values and resident interests

BILL PRICE
7027 STANHOPE PLACE

EDUCATION
Bachelor of Arts in Economics – DePauw University Juris Doctorate – Salmon P. Chase College of Law MBA – Xavier University

UNIVERSITY PARK
Karin and I moved into University Park in early 2019 and are full members of UPCC. We are Florida residents and spend 8 to 9 months in Florida. We have a second home in Cincinnati, Ohio.

BUSINESS EXPERIENCE
I spent my first 12 years of my legal career doing trial work primarily in federal courts. I was an equity partner for 7 of those 12 years and co-chair of the litigation department. My practice focused on life and disability insurance defense, general maritime/Jones Act defense, product liability, environmental related to inland river system and commercial litigation.

In January, 2024, I retired as Executive Vice President & General Counsel from a multi-billion dollar multi-national financial services company. I also served as CEO of our life insurance company for the last year plus before I retired

My professional career was defined by managing complex disciplines—including legal, audit, compliance, human resources and operations and solving complex business issues our company and the industry faced—including capital, regulatory (state and federal), finance, risk, investments, and actuarial. I also served on the Board of Directors for a majority of our subsidiaries, including our international subsidiaries, bringing my legal, compliance, audit and business knowledge to these entities.

My experience managing and working with multiple disciplines and businesses provides me with a unique combination of business, legal, and risk aptitude to traverse an array of challenges. I understand financial statements, budgets, governance, audit, legal and regulatory issues. I can comprehend complex issues and simplify those issues to an understandable level.
PUBLIC BOARD EXPERIENCE
Beyond the private sector, I was elected to and served four years as a member on the Oak Hills school board, one of the largest suburban school districts in Ohio. I focused on improving transparency within the community, implementing zero-based budgeting, curriculum focused on building a strong learning base, student achievement, and being the board representative to negotiate the teacher union contract.
I will bring these same skill sets and a focus on fiscal responsibility, governance, and clear communication to benefit our University Park community.

University Park Recreation District

Nominations/Appointment of Candidate to Vacant Board Seat 3
(Term Expires February 2028)

University Park Recreation District

Consideration of Resolution 2026-14, Appointing District Officer Roles

RESOLUTION 2026-14

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE UNIVERSITY PARK RECREATION DISTRICT ELECTING THE OFFICERS OF THE DISTRICT, AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the University Park Recreation District (“District”) is a local unit of special-purpose government created and existing pursuant to Chapter 418, Florida Statutes, being situated entirely within Manatee County, Florida; and

WHEREAS, pursuant to Chapter 418, Florida Statutes, the Board of Supervisors (“Board”), shall organize by electing one of its members as Chair and by electing a Secretary, and such other officers as the Board may deem necessary.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE UNIVERSITY PARK RECREATION DISTRICT:
DISTRICT OFFICERS. The District officers are as follows:

	 is appointed Chairperson.
	 is appointed Vice-Chairperson.
	 is appointed 2nd Vice Chairperson.
	 is appointed Treasurer
		 is appointed Board Secretary Vivian Carvalho	 is appointed District Secretary Kwame Jackson		  is appointed Assistant Secretary. John Fetsick		  is appointed Assistant Treasurer. Paul Fay		  is appointed Assistant Treasurer.

CONFLICTS. All Resolutions or parts of Resolutions in conflict herewith are hereby repealed to the extent of such conflict.
EFFECTIVE DATE. This Resolution shall become effective immediately upon its adoption.

Passed and Adopted this 8th day of May 2026.
Attest:	UNIVERSITY	PARK	RECREATION DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

University Park Recreation District

Public Records Request Summary List

Total of All Records Request
Tally of Records	ID# Assignment	Date	Requester	Name of File / Subject/ Law Firm	Status	Files Released	
1		9.6.24	Dean Matt	Additional Documents	Completed	33	
1		9.26.24	Dean Matt	Insurance	Completed	8	
1		10.25.24	Dean Matt	Additional Records	Completed	3	
1		11.7.24	Dean Matt	Additional Document	Completed	1	
1		11.12.24	Dean Matt	Additional Documents	Completed	5	
1		12.12.24	Dean Matt	Additional Document	Completed	2	
1		10.1.24 & 12.19.24	Dean Matt	Additional Document Pertaining to Trustee and Bond Counsel	Completed	6	
1		2.6.25	Dean Matt	Election Request #1 A	Completed	20	
1		2.6.25	Dean Matt	Election Request # 1B	Completed	6	
1		2.20.25	Dean Matt	4th Election Voter List	Completed	2	
1		3.14.25	Dean Matt	UPRD 4th Election Invalid Ballots	Completed	1	
1		3.14.25	Dean Matt	Official Tally Sheet	Completed	1	
1		3.31.25	Dean Matt	Records Request	Completed	1	
1		4.3.25	Dean Matt	2025 Election	Completed	19	
1		4.7.25	Dean Matt	Ballot Results	Completed	1	
1		4.14.25	Dean Matt	4.14.25	Completed	5	
1		4.14.25	Dean Matt	Business Plan Group Executive Summary	Completed	1	
1		5.6.25	Dean Matt	5 Year Plan	Completed	17	
1		7.15.25	Dean Matt	Organizational Charts	Completed	2	
1		7.28.25	Dean Matt	Finance & Strategic Planning Committees	Completed	9	
1		7.29.25	Dean Matt	Committee Expertise Summary	Completed	2	
1		8.1.25	Dean Matt	July Board Meetings Attendance	Completed	4	
1		8.7.25	Dean Matt	8.7.25 District Financial Reports	Completed	5	
1		8.8.25	Dean Matt	MD&A Request	Completed	3	
1		8.12.25	Dean Matt	District Financials	Completed	2	
1		9.17.25	Dean Matt	Irrigation System Evaluation	Completed	1	
1		9.18.25	Dean Matt	MB 9.18.25	Completed	1	
1		9.28.25	Dean Matt	Records Request #1 Fact Focus 9.28.25	Completed	3	
1		9.28.25	Dean Matt	Records Request #2 Finance and Legal Issues Club	Completed	16	
1		10.27.25	Dean Matt	Records Request #4 BOS Workshop Cancellation	Completed	20	
1		9.28.25	Dean Matt	Records Request #3 Stock Touting - SEC 9.28.25	Completed	5	
1		10.17.25	Dean Matt	Records Request #9 Proposals (1)	Completed	2	
1		10.17.25	Dean Matt	Records Request #9 Proposals (2)	Completed	2	
1		10.13.25	Dean Matt	Records Request #7 Finance Cancellation	Completed	10	
1		10.16.25	Dean Matt	Records Request #8 Invoice Redaction 10.16.25	Completed	2	
1		9.22.25	Dean Matt	Records Request #6 9.22.25	Completed	3	
1	3	11.2.25	Dean Matt	Public Records Request - ID# 3 11.2.25	Completed	1	
1	1	10.29.25	Dean Matt	Public Records Request - ID# 1 10.29.25	Completed	3	
1	7	7.10.24	Dean Matt	ID-7 7.10.24 (Maintenance 5- Year/ Nov - Dec 2023)	Completed	23	
1	6	7.8.24	Dean Matt	ID-6 7.8.24	Completed	19	
1	6	11.19.25	Dean Matt	ID-6 (Maintenance 5- Year Plan / 1 Year Ago)	Completed	25	
1	8	7.8.24	Dean Matt	ID-8 7.8.24 ( Maintenance Nov- Dec Flow of Funds)	Completed	5	
1		7.8.24	Dean Matt	ID-5 7.8.24	Completed	4	
1		7.8.24	Dean Matt	ID- 1 7.8.24	Completed	5	
1		11.16.23	Dean Matt	Records Request 11.16.23	Completed	2	

1		2.23.24	Dean Matt	Records Request 2.23.24	Completed	2	
1		3.22.24	Dean Matt	Records Request 3.22.24	Completed	5	
1		5.11.24	Dean Matt	Records Request 5.11.24	Completed	3	
1		5.29.24	Dean Matt	Records Request 5.29.24	Completed	4	
1		1.22.25	Dean Matt	Records Request 1.22.25	Completed	2	
1		3.14.25	Dean Matt	Records Request 3.14.25	Completed	2	
1		9.26.25	Dean Matt	Records Request #5 Varsity Club - Card Room Closure 9.26.25	Completed	8	
1	2	10.29.25	Dean Matt	Records Request ID #2 10.29.25 (2nd Request)	Completed	16	
1	4	11.2.25	Dean Matt	Insurance	Completed	1	
1	5	11.16.25	Dean Matt	Records Request ID # 5 11.16.25	Completed	2	
1	9	11.24.25	Dean Matt	E-mail Threats 1/4 Town Hall 30 Days	Completed	1	
1	10	12.12.25	Dean Matt	E-mails from Mark Invoice	Completed	8	
1	11	12.27.25	Dean Matt	Invoices from Mark B Year 2024	Completed	31	
1	12	12.27.25	Dean Matt	Invoice from Mark B Year 2023	Completed	69	
1	13	12.29.25	Dean Matt	Election Procedure & General Information Package	Completed	2	
1	14	12.29.25	Dean Matt	Election Communication Invites	Completed	0	
1	15	12.19.25	Dean Matt	Dec. Start Mtg Recording, Strategic Planning Committee	Completed	4	
1	16	1.14.26	Dean Matt	D&O Limit Meeting mInutes Search 7-2025 thru 11-2025	Completed	0	
1	17	1.14.26	Dean Matt	Zoom Information	Completed	2	
1	18	1.15.26	Dean Matt	AI Invoice from District Counsel	Completed	2	
1	19	1.28.26	Dean Matt	Funds Transaction Points A, B, C	Completed	42	
1	20	3.11.26	Lewis Longman Walker	Lewis Longman Walker			
1	21	3.25.26	Dean Matt	Lewis Longman Walker	Completed	2	
1	22	4.15.26	Dean Matt	Draft of the Opinion Letter from the Comission on Ethics	Completed	5	

69	Total of Records Request	As of 5.1.26	
524	Total of Files Released	As of 5.1.26	

University Park Recreation District

Correspondence Summary List

Correspondence Summary List (as of 5/1/2026)

Name	Date Received	Topic	
Kris Higgerson	4/21/2026	Open Board Seat	
Julie Grudzinskas	4/28/2026	Five Year Plan and Planning	
Vincent Beni	4/28/2026	Open Board Seat	

University Park Recreation District

Staff Reports

University Park Recreation District

Club Management Management Discussion & Analysis Report

University Park Recreation District Management Discussion & Analysis Report As of April 30, 2026

Member Experience/Dining
Season is winding down but the Club remains fairly busy.
April continued a very busy season with Passover Seder (4/1), Breakfast with the Bunny (4/4) and Easter Sunday Brunch (4/5). We served approximately 900 members and guests over this 3-event timeframe.
In addition, we hosted our first ever (at least in recent history), New Member Reception. This Event was attended by approximately 75 people including New Members, invited Club Ambassadors and Club Management. The event was a huge success and the new members were very appreciative. We anticipate hosting this event twice a year moving forward to continue to welcome and integrate our new annual members.
Finally, we hosted the Drew Bledsoe Wine Dinner on April 23rd. The Wine Dinner was attended by over 100 Members with some mentioning it to be their TOP member event ever.
All of this in addition to Trivia, Bingo, Racquets & Wellness events, among many others! Thank you to the Team for this tremendous effort!
Golf Operations
Golf Revenue is currently $196k favorable to Budget through March with Outside Rounds favorable to Budget by 1424 rounds. Merchandise Sales continue to be favorable to Budget also.
The Front-Nine project is ongoing, notably the replacement of the bulkhead on hole #5. (Curtis to give further verbal update).
Racquets & Wellness Operations
The Racquets and Wellness facilities, like the golf course and dining operation, are also very busy with all-time high participation!
As communicated to the Board last month, Jose Tolentino, has begun leasing tennis courts here at UPCC. Jose brings with him a large contingent of high-quality players, notably youth players. Jose’s presence has been reinvigorating and brings a whole new energy level when here.
We continue to obtain proposals for the modest Wellness Center upgrades discussed at the 4/28 Board Meeting. The proposed project would include new flooring, painting of the walls and possible new ceiling tiles and the removal of the bar area. No work will commence until the board is presented with options, pricing and provides Management with approval.

UNIVERSITY PARK COUNTRY CLUB STATEMENT OF OPERATIONS

YTD	
OPERATING RESULTS, 6	
MONTHS	
Actual Results of	

Budget					

COMMENTS	
			THROUGH 3/31/26		UPCC Operations		$	Variance	%	Change		
						
												Total	Revenues	$7,995	$7,815	$180	2.3%		
				Less: Outside Golf	Capital	Allocation	(186)	(166)	(20)	11.9%	10%	of	Outside	Golf	Allocated		to	Capital		
		Total Revenues, Less	Capital	Allocation	7,809	7,648	161	2.1%		
						
												Total	Expenses	6,897	7,090	193	2.7%		
						
						Net	Operating	Surplus	(Deficit)	912	558	354	63.5%	Net Operating impact	
						
		Revenues	and	Expenses,	Details	Actual	Budget	$	Variance			%	Change		
Dues	revenue													$3,197	$3,233		($	37)	(1.1%)		

2,534	

2,338	

196	

8.4%	Outside	rounds exceeded the budget by 1,424		
														rounds.	Merchandise sales $43K favorable to			
Golf	operations	revenue												budget.				
Dining	operations	revenue								1,914	1,941	(27)	(1.4%)		

Racquets/Fitness/Other	
operations	
revenue	
164	
136	
28	
20.6%		
						
										Subtotal,	Revenues	7,809	7,648	161	2.1%		
						
Golf	operations													972	994	22	2.2%		
													
1,868	
1,821	
(47)	
(2.6%)	Projects that were	budgeted	for		later	in	the	year		
Golf	maintenance																completed early									
													
2,373	
2,524	
151	
6.0%	COGS 54k,	Payroll	31k,	Linens	26k,	waste	and		
Dining	operations																supplies								
Racquets	&	Fitness	operations						355	344	(11)	(3.3%)		
															
1,328	
1,407	
79	
5.6%	Payroll 30k, Advertising	19k,Ins.12k,		CC	Fees	10k	&	
General	&	Adm																	other various expenses							
										Subtotal,	Expenses	6,897	7,090	193	2.7%		
						
Net Operating Surplus (Deficit),	net	of	$186k	
$912	
$ 558	
$ 354	
63.5%									
outside golf capital allocation								Variance	is	$354k,	63.5%	from	budget			

4/14/2026	1/6

UNIVERSITY PARK COUNTRY CLUB COMPARATIVE BALANCE SHEET AS OF MARCH 31, 2026 AND 2025

		UPCC Operating Fund		Capital Irrigation Fund			
	Assets	Unaudited
3/31/26		Unaudited
3/31/25		Unaudited
3/31/26		Unaudited
3/31/25		Comments & Assumptions	
											
	Operating Cash & Short-Term Investments	$3,820		$2,824							
	Accounts Receivable	984		884							
	Inventory	356		338							
	Deposits & Prepaids	618		538						FY26 - Prepaid Insurance & Prepaid Cart Lease,
software, sales tax etc.	
	Future Assessments based on BAN or Long-Term Bonds					

5,975		

5,744		Amounts drawn from BAN, $4,140 + Amounts borrowed from UPCC Capital Reserves, $1,835	
	Subtotal, operating assets	5,777		4,584		5,975		5,744			
											
	Board Designated Cash & Investments &
Receivable from Irrigation Fund:										
	Operating Reserves	400		400						BOS designated for future use.	
	Capital Reserves & Short-Term Investments	1,478		606							
	Capital Reserves Used for Irrigation Project--Due
from Capital Irrigation Fund	
1,835		
1,835						Portion of irrigation project paid out of UPCC reserve
funds	
	Sub total, Board Designated Cash, Capital Reserves
& Capital Irrigation Fund Receivable	
3,713		
2,841		
-		
-			

	Property and Equipment - Net	26,893		20,091							
	Property and Equipment - CIP	182		5,762		-		-			
	TotaI Assets	$36,565		$33,278		$5,975		$5,744			
											
	Liabilities & Net Position:										
	Accounts Payable										
	Operations Related	$452		$364							
	Accrued Liabilities & Other Payables	322		291		-		-			
	Gift Cards & Store Credits	144		127							
	Subtotal, operating liabilities	917		782		-		-			
											
	Deferred Revenue	4,469		4,079							
	Capital Lease Obligations	2,009		418						New cart lease and GCM Equipment	
	Capital Projects Payable	9		-							
											
	Due to UPCC Operating Fund					$1,835		$1,835			
	BAN Payable to Bank					4,140		3,909			
	Total Liabilities	7,404		5,279		5,975		5,744			
											
	Beginning Balance, Purchase of UPCC assets in
2019	
16,750		
16,750		
-		
-			
	Due From Capital Irrigation Fund	1,835		1,835							
	Prior Years' Operating Surplus	9,868		7,281							
	Current Period Operating Surplus	708		2,133							
	Net Position	29,161		27,999		-		-			
											
	Total Liabilities & Net Position	$36,565		$33,278		$5,975		$5,744			

4/14/2026	2/6

UNIVERSITY PARK COUNTRY CLUB CAPITAL SOURCES AND USES AS OF MARCH 31, 2026

Sources		Notes	
			
2019, Construction Fund after UPCC club purchase	$4,157		
2021, Loan Forgiveness	856		
2024-5, Bond Anticipation Note for Irrigation Project	

3,757	$1,835 was paid out of Operating Cash and needs to be repaid from either BAN assessment or 2024 Bond funds when available.	
Sub total, Bond Proceeds and Loan Forgiveness	8,769	Bonds & Loan Forgiveness	
			
FY 2021 -2025 Initiation Fees	3,554		
FY 2021-2025 10% Outside Golf	1,530		
FY 2023-2025 Capital Dues	872		
FY 2026 Initiation Fees	755		
FY 2026 10% Outside Golf	186		
FY 2026 Capital Dues	382		
Sub total, Init Fees, Capital Dues & 10% Outside Golf	7,279	Capital raised through Operations	
			
Total Sources of Capital	16,049		
			
Uses			
			
2022, Parking Lot - Asphalt	136		
2021-2025, Golf Course Improvement & Irrigation	7,412		
2023, Tennis/Pickleball Courts	810		
2022-2023, Buildings - Renovations, A/C and Upgrades	291		
2023-2025, Range Picker, Bag Drop/Pro Shop FF&E	123		
2022-2024, Grille - Kitchen Equipment	289		
2023, Golf Course Maintenance Equipment	459		
2023, IT Equipment - Computers, Server etc	91		
2023-2024, Racquets And Fitness Equipmet	89		
2021-2023, Indoor Dining Renovation	1,066		
2023-2024, Outdoor Dining (Cafe) Renovation	2,326		
Subtotal, Uses	13,092		
			
FY2026 Uses			
			
2026, Golf Course Maintenance Equipment	36		
2026, Back 9 Renovation	1,164		
2026, Buildings, Varsity Club, Admin & Locker Room
Renovation	
64		
2026, Golf Club Rentals	12		
2026, Grille - Kitchen Equipment	26		
2026, Admin Furniture	3		
Subtotal, FY2026 Uses	1,305		
			
Construction In Progress			
2020, Master Plan Project	168		
Security Cameras	2		
Cart Barn - Garage Doors	12		
Subtotal, CIP	182		
			
Total Uses	14,579		
			
Remaining Capital Reserves	1,469	Capital Account Balance at 3/31/2026	
			
Due to operating capital from BAN or Bond	1,835		
			
Total Capital Reserves	3,304	Balance with Irrigation Project repayment	

4/14/2026	3/6

UNIVERSITY PARK COUNTRY CLUB STATEMENT OF CASH FLOWS AS OF MARCH 31, 2026

MTD & YTD STATEMENT OF CASH FLOWS, 6 MONTHS THROUGH
3/31/26				
	March	
	MTD		YTD	
Cash Flows From Operating Activities:				
				
Cash Receipts From Members & Guests	$ 1,024		$ 10,110	
Cash Payments To Vendors & Suppliers	(429)		(3,494)	
Cash Payments To PBM Staff Serving UPCC & UPRD	(669)		(3,832)	
				
Net Cash Provided (Used) By Operating Activities	(73)		2,784	
				
Cash Flows From Capital, Financing, And Other Non-Operating
Activities:				
Initiation Fees	$ 74		$ 761	
Capital Dues	12		381	
Purchase Of Equipment & Capital Projects	(15)		(370)	
Transfer to General Fund	(62)		(237)	
Interest From Investments	1		3	
Net Cash Provided (Used) By Capital And Other Non-Operating
Activities	11		537	
				
Net Increase (Decrease) In Cash	(62)		3,320	
Cash At Beginning Of Period	5,760		2,378	
Cash At End Of Period	$ 5,698		$ 5,698	

4/14/2026	4/6

University Park Recreation District FY2026 General Fund Actual & Budget

Actual	Anticipated	Anticipated	FY 2026	
Through	Apr. - Sept.	FY 2026	Adopted	
03/31/2026		Total	Budget	
Revenues
PrYr Surplus	-	-	-	9,088	
Inter-Fund Transfers - Debt Service to O&M	5,486	70,000	75,486	70,000	
Inter-Fund Transfers - Country Club to O&M		237,412		10,196		247,608		220,912	
	$242,898	$80,196	$323,094	$300,000	

General & Administrative Expenses		
Assessment Administration	10,000		-		10,000		10,000	
Audit	29,125		5,000		34,125		35,000	
Bank Fees	120		200		320		500	
Bond Admistration Fee	6,687		-		6,687		7,500	
Contingency	360		360		720		15,000	
Dissemination Agent	5,000		-		5,000		5,000	
District Counsel	84,358		65,364		149,722		110,000	
Dues, Licenses, and Fees	175		-		175		2,500	
Election Costs	10,621		-		10,621		10,000	
Insurance	21,569		-		21,569		17,500	
Legal Advertising	5,527		1,800		7,327		5,000	
Management	35,000		35,000		70,000		70,000	
Meeting Set Up	-		-		-		5,000	
Office Supplies	-		600		600		1,000	
Postage & Shipping
Professional Services, Other	128
-		100
-		228
-		1,000
-	
Travel and Per Diem Web Site Maintenance	- 3,000		- 3,000		- 6,000		- 5,000	
Total General & Administrative Expenses	$211,670		$111,424		$323,094		$300,000	

4/14/2026	5/6

UNIVERSITY PARK COUNTRY CLUB KEY PERFORMANCE INDICATORS FY 2025 Q2 FY 2026

Operating and Strategic Insights		
FY 2025	1st & 2nd Qtr 2026
Actual	1st & 2nd Qtr 2026
Budget	
CB
Median	
Comments	
								
	Net Worth over Time (CAGR)		1.6%			4.1%	See supplemetal workbook for additional detail.	

Net Operating Margin (before golf allocation)		

2.5%	

14.1%	

9.7%	

0.7%	(Net Operating Result / Revenue) Driven by outside golf and lower payroll ratio compared to other clubs, and the requirement to fund district expenses (General Fund) with operations. Revenue adjusted for capital leases.	
								
	Total Labor as a % of Operating
Revenue		55.4%	49.8%	52.1%	57.0%	Labor includes outside cleaning company and 1099 Racquets
and Fitness Instructors	
								
	Net F&B Income/(Loss) as of % of F&B Revenue		
-33.8%	
-16.7%	
-23.3%	
-33.0%	(F&B Subsidy/F&B Revenue) KPI performed favorably in Q1, primarily due to strong in-season revenue and favorable
expense timing.	
								
	*Club Benchmarking - Median data from 74 Clubs, South Region, 10-15M Revenue, 18-27 Holes	

University Park Recreation District Summary Operating Data
As of March 31, 2026

Rounds of Golf (as of March 31, 2026):

	March		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	5,129	5,326	(197)		25,123	27,214	(2,091)	
Outside Rounds	3,858	3,412	446		17,860	16,436	1,424	
	8,987	8,738	249		42,983	43,650	(667)	
Rounds of Golf (as of March 31, 2025):

	March		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	5,067	5,739	(672)		23,906	27,311	(3,405)	
Outside Rounds	3,596	3,346	250		14,863	17,282	(2,419)	
	8,663	9,085	(422)		38,769	44,593	(5,824)	

Overall revenue is $161k favorable to budget, driven primarily by Golf operations. Golf revenue is $196k favorable to budget (net of capital allocation), with higher outside rounds producing an $171k favorable variance in greens fees. Merchandise sales also surpassed budget, contributing an additional $43k favorable variance.
Golf course maintenance expenses continue to remain over budget due to various projects that were scheduled for later in the year but were completed earlier. We anticipate this trend will continue over the next couple of months, with expenses realigning to budget by the end of summer.

Membership

University Park Recreation District Summary Operating Data
As of March 31, 2026

		CYTD Change		Beg. Mar.		Additions		Resignations		Conversions		Total	
Golf													
Family - Resident		1		178		1		(1)		1		179	
Family - Non Resident		2		78		-		(1)		-		77	
Single - Resident		8		129		1		-		1		131	
Single - Non Resident		-		71		-		-		-		71	
		11		456		2		(2)		2		458	
Racquets & Fitness													
Family - Resident		2		29		1		-		-		30	
Family - Non Resident		-		14		1		-		-		15	
Single - Resident		1		38		-		-		-		38	
Single - Non Resident		(1)		22		1		-		1		24	
		2		103		3		-		1		107	
Social													
Family - Resident		(4)		456		1		(1)		(2)		454	
Family - Non Resident		2		54		-		-		-		54	
Single - Resident		(2)		209		-		(3)		-		206	
Single - Non Resident		(5)		55		-		(1)		(1)		53	
		(9)		774		1		(5)		(3)		767	
													
Total Memberships		4		1,333		6		(7)		-		1,332	
													
Passes		CYTD Change		Beg. Mar.		Net Change		Total					
Fitness		(6)		146		(7)		139					
Range		3		57		1		58					
Pickleball		2		49		3		52					
Twilight Tennis		(1)		19		(1)		18					
SAP		6		133		3		136					
		4		404		(1)		403					
*137 grandfathered non-members (-4 to prior month), 184 grandfathered members (Same as prior month)
**294 non-resident memberships (Same as prior month)

University Park Recreation District

Update of Boardwalk Project

University Park Recreation District

Review of Proposed FY 2027 Budgets
Operating Budget (Enterprise Fund)
Capital Budget (Enterprise Fund)
General Fund
Debt Service
Capital Irrigation Fund

UNIVERSITY PARK RECREATION DISTRICT

FY 2027 Budget
October 2026 – September 2027

May 2026 Presentation

FY2027 Budget Process

Departmental workbooks are pre-populated with PY actuals, CY budget, CY forecast, and rolling 12 and are distributed to department directors

Directors prepare the FY2027 budget using the workbook, general ledger, and variance reports

Review meetings are held with each director, the General Manager, Controller, and an assigned Finance Committee member

Final budget is presented to the Finance Committee for recommendation to the Board of Supervisors

Final budget is presented to the Board of Supervisors for approval

Enterprise Fund – Executive Summary

	FY'27 Budget		FY'26 Forecast		FY'26 Budget	
						
Revenue	14,495		13,858		13,702	
						
Expenses	13,841		13,059		13,299	
						
Operating Surplus	655		800		403	
						
Capital Allocation	1,406		1,450		1,174	

Total Revenue Breakdown

Total Revenue: $14,495
Membership Dues $7,056 Golf Operations $4,133
*Racquets & Fitness $86 Dining	$3,215

*Revenue for Racquets & Fitness is the club’s portion of the revenue generated from lessons, classes, clinics and personal training.

MEMBERSHIP DUES	GOLF OPERATIONS RACQUETS & FITNESS	DINING INCOME

22%

1%	49%

28%

Total Expense Breakdown

Payroll Expense $7,782	Direct Expense $6,058

	$ 885	
$ 1,867	
$ 405	

	
$ 1,336	$ 1,027	
	
$ 187	

$ 406	
$ 805	
$ 507		

$ 2,041

$ 2,584

$ 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 (~6%):
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)
Fitness Pass $500 (no increase)

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	43,458	41,706	42,921	
Outside Rounds	29,692	26,639	29,634	
Total	73,150	68,345	72,555	
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

	2026	Rolling	2027	
	Forecast	12 Months	Budget	
FOOD	44.5%	45.5%	46.0%	
WINE	39.1%	44.4%	40.0%	
LIQUOR	30.5%	27.6%	31.0%	
BEER	31.5%	30.7%	32.0%	
SODA	37.6%	31.4%	34.0%	

Food costs reduced due to refined kitchen processes & procedures, and optimized menu design
Cost of goods sold is aligned with both the forecast and the rolling 12-month period.

Key Assumptions – Labor

No salaried headcount increases or decreases
Blended 3-4% increase for salaried employees
Hourly Wages:
– FL Minimum wage increase
– $10.98 to $11.98 (tipped)
– $14.00 to $15.00 (non-tipped)
– Discretionary increases generally around 3–4%
Total Payroll reflects 54% of Total Revenue, at industry standard

Enterprise Fund – Executive Summary

	FY' 27 Budget		FY' 26 Forecast		FY' 26 Budget	
Revenue	14,495		13,858		13,702	
Expenses	13,841		13,059		13,299	
Operating Surplus	655		800		403	
Capital Allocation	1,406		1,450		1,174	

University Park Country Club 2027 Budget

SUMMARY INCOME STATEMENT	2025	2026		2026	Rolling	2027	2027 Budget	
FISCAL YEARS ENDING SEPTEMBER 30	Actual	Budget		Forecast	12 Months	Budget	vs. 2026 FC	
COUNTRY CLUB OPERATIONS:								
								
REVENUE:								
MEMBERSHIP DUES	6,131,043	6,724,088		6,687,222	6,380,181	7,055,981	368,759	
GOLF OPERATIONS	3,451,413	3,759,858		3,963,157	3,920,372	4,132,755	169,598	
RACQUETS & FITNESS CENTRE	58,549	77,324		88,458	74,491	86,217	(2,241)	
DINING INCOME	3,010,876	3,135,420		3,108,631	3,084,146	3,214,730	106,099	
OTHER INCOME	13,499	5,480		10,835	12,185	5,480	(5,355)	
								
TOTAL REVENUE	12,665,380	13,702,170		13,858,303	13,471,376	14,495,164	636,861	
								
EXPENSES:								
PAYROLL & RELATED:								
								
GOLF OPERATIONS	719,677	856,026		811,399	744,724	885,464	74,064	
RACQUETS & FITNESS CENTRE	359,929	386,008		380,896	369,329	405,457	24,562	
DINING	2,308,561	2,435,666		2,406,961	2,334,481	2,584,038	177,077	
GOLF COURSE MAINTENANCE	1,833,506	2,068,992		1,999,032	1,891,414	2,040,886	41,854	
GENERAL & ADMINISTRATIVE	1,675,776	1,834,071		1,804,263	1,768,332	1,866,560	62,297	
								
TOT PAYROLL & RELATED	6,897,450	7,580,764		7,402,550	7,108,280	7,782,405

1,027,198
186,837
1,336,151
805,415
1,789,315
506,890
406,436	379,855	
								
DIRECT EXPENSES:								
								
GOLF OPERATIONS	1,016,726	1,018,068		1,039,786	1,073,913		(12,588)	
RACQUETS & FITNESS CENTRE	131,816	161,459		166,268	147,312		20,569	
DINING CGS	1,249,831	1,306,757		1,244,500	1,270,256		91,651	
DINING OPER EXP	755,303	782,785		732,236	737,096		73,179	
GOLF COURSE MAINTENANCE	1,611,411	1,566,167		1,645,755	1,664,759		143,560	
GENERAL & ADMIN	446,790	493,443		456,395	464,048		50,495	
PROPERTY INSURANCE	335,919	390,000		371,063	354,191		35,372	
								
TOTAL DIRECT EXPENSES	5,547,796	5,718,679		5,656,003	5,711,575	6,058,242	402,239	

OPERATING INCOME/(LOSS)	220,133	402,726		799,749	651,520	654,516	(145,233)	
								
CAPITAL ALLOCATION:								
INITIATION FEES	853,150	510,800		774,000	1,392,550	680,400	(93,600)	
CAPITAL ALLOCATION- GOLF OPS	252,656	248,670		261,299	257,158	284,679	23,380	
CAPITAL DUES	380,552	414,769		415,092	397,051	440,948	25,856	

TOTAL CAPITAL ALLOCATION	1,486,358	1,174,239		1,450,391	2,046,759	1,406,028	(44,363)	

University Park Recreation District
FY2027 Enterprise Fund Budget — Key Assumptions Summary
Fiscal Year: October 2026 – September 2027

Total Revenue: $14,495 (000s)
Membership Dues: $7,056
Golf Operations: $4,133
Dining: $3,215
Racquets & Fitness: $86 (club's portion of lessons, classes, clinics, personal training)
Membership Dues Assumptions
~6% annual dues increase (Resident / Non-Resident):
Full: $710 / $540
Racquets: $305 / $230
Social: $100 / $75
Full Membership capped at 450
Minimal pass increases (+$50 each): Pickleball $800, Twilight $800, Social Access
$550, Social Driving Range $500 – No increase to Fitness $500
Initiation Fees, Capital Funding & Capital Dues
Continued Outside Golf Allocation at 10%
Capital Dues percentages held ﬂat from 2023–2026:
Resident: 5% of dues
Non-Resident: 10% of dues
Golf Operations
Continue prioritizing member rounds and experience (More Full Members) capacity available
Trail Fee increase
Dining Operations
No disruption assumed from kitchen renovation
Revenue reﬂects modest increase aligned with menu price adjustments
Wage expenses up for minimum wage and cost-of-living adjustments
Food costs reduced due to reﬁned kitchen processes & procedures, and optimized menu design
COGS aligned with forecast and rolling 12-month period

Labor
No salaried headcount increases or decreases
Salaried: blended 3-4% increase
Hourly (FL minimum wage): tipped $10.98 → $11.98; non-tipped $14.00 → $15.00
Discretionary increases ~3–4%
Total payroll = 54% of total revenue (industry standard)

	University Park Country Club		
	Fiscal Year 2027		
	Capital Budget Detail - Replacements Needed		
Department	Asset Name	Year Installed	Estimated Cost	
Grille	Kegerator, Beverage Air 6 Tap DD58	2004	4,223	
Grille	Merchandiser, True Single Glass Door GDM 23	1999	3,605	
Grille	Refrigerator, Perlick 2 Door PS2DP	2004	4,996	
Grille	Refrigerator, True Under Counter Cooler TBB-2	2004	5,150	
Grille	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

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	

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	

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	

University Park Recreation District

Review of the Preliminary Deck for the Town Hall Meeting (provided under separate cover)

University Park Recreation District

Discussion of Proposed Governance Committee Options

University Park Country Club Recreational District (UPCCRD)
Proposed Dual Advisory Structure – Outline (Revised4-27-26)

Objective
Establish a clear, legally compliant structure that strengthens governance oversight while ensuring meaningful member input, without blurring roles or creating legal risk.

 Governance Advisory Committee (GAC)
Role: Board-facing, governance-focused advisory body
Purpose: Provide independent recommendations on governance, policy, and long-term risk
Scope:
Board/management roles & structure
Governance policies (ethics, transparency, procurement)
Financial oversight practices (including debt/bond governance)
Initial Focus: Review of governing documents and agreements to identify ambiguity, clarify authority, and strengthen governance consistency
Authority: Advisory only (no decision-making)
Compliance: Operates under Florida Sunshine Law (open meetings, notice, minutes) Output: Formal written report, prioritized recommendations, draft policies Reporting: Directly to Board of Supervisors
Term: 90–120 days (project-based)

 Member Advisory Group (MAG)
Role: Management-facing, operations & experience input
Purpose: Provide structured feedback from homeowners and members
Scope:
Member experience (amenities, services, communication)
Operational input (usage, scheduling, access)
Authority: Advisory to management only
Compliance Position: Not subject to Sunshine if strictly operational
Output: Informal feedback summaries to management
Reporting: Park Boulevard Management
Membership: Broad, representative community mix (Country Club members)
Term: 1-3 year terms (TBD)

Considerations

Critical Safeguard: Structural Firewall
No overlap in membership between GAC and MAG
No joint meetings or shared deliberations
MAG does not review contracts or governance matters
MAG does not provide recommendations directly to the Board
GAC operates independently and publicly

How the Model Works
MAG gathers member input → provides operational feedback to management (PBM)
Management summarizes themes (no recommendations)
GAC evaluates governance implications in Sunshine-compliant setting
Board deliberates and decides

Benefits to UPCCRD
Legally defensible structure aligned with Florida requirements
Improved governance quality and risk awareness
Clear separation of roles (oversight vs. operations)
Meaningful member engagement without politicizing decisions
Enhanced transparency and credibility

Next Steps

Board Action Requested
Approval of dual-structure concept
Authorization to draft proposed Charters for BoS review (GAC & MAG)
Direction on implementation timeline (TBD)

University Park Recreation District

Discussion of Fitness Center Upgrade