UNIVERSITY PARK COUNTRY CLUB STATEMENT OF OPERATIONS

YTD OPERATING RESULTS, 8 MONTHS THROUGH 5/31/26	Actual Results of UPCC Operations	

Budget	

$ Variance	

% Change	

COMMENTS	
						
Total Revenues	$10,526	$10,264	$262	2.6%		
Less: Outside Golf Capital Allocation	(229)	(207)	(22)	10.8%	10% of Outside Golf Allocated to Capital	
Total Revenues, Less Capital Allocation	10,297	10,058	240	2.4%		
						
Total Expenses	9,147	9,213	66	0.7%		
						
Net Operating Surplus (Deficit)	1150	845	306	36.2%	Net Operating impact	
						
Revenues and Expenses, Details	Actual	Budget	$ Variance	% Change		
Dues revenue	$4,323	$4,377	($ 55)	(1.2%)		

Golf operations revenue	

3,208	

2,971	

238	

8.0%	Outside rounds exceeded the budget by 1,827 rounds. Merchandise sales $53K favorable to budget.	
Dining operations revenue	2,540	2,538	2	0.1%		

Racquets/Fitness/Other operations revenue	
227	
172	
55	
32.1%		
						
Subtotal, Revenues	10,297	10,058	240	2.4%		
						
Golf operations	1,322	1,293	(28)	(2.2%)		

Golf maintenance	
2,459	
2,384	
(76)	
(3.2%)	Projects that were budgeted for later in the year
completed early	

Dining operations	
3,168	
3,281	
113	
3.4%	
Food COGS 64k, Linens 31k, waste and supplies	
Racquets & Fitness operations	491	454	(37)	(8.0%)		

General & Adm	
1,707	
1,800	
93	
5.2%	
Payroll 57k, Advertising 13k,Ins.14k, CC Fees 16k	
Subtotal, Expenses	9,147	9,213	66	0.7%		
						
Net Operating Surplus (Deficit), net of $229k
outside golf capital allocation	
$1,150	
$ 845	
$ 306	
36.2%	
Variance is $306k, 36.2% from budget	

6/12/2026	1/4

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

		UPCC Operating Fund		Capital Irrigation Fund			
	
Assets	Unaudited
5/31/26		Unaudited
5/31/25		Unaudited
5/31/26		Unaudited
5/31/25		
Comments & Assumptions	
											
	Operating Cash & Short-Term Investments	$3,591		$2,607							
	Accounts Receivable	645		513							
	Inventory	313		329							
	Deposits & Prepaids	540		407						FY26 - Prepaid Insurance & Prepaid Cart Lease,
software, sales tax etc.	
	Future Assessments based on BAN or Long-Term Bonds					

6,027		

5,744		Amounts drawn from BAN, $4,140 + 52k Accrued Interest + Amounts borrowed from UPCC Capital
Reserves, $1,835	
	Subtotal, operating assets	5,090		3,856		6,027		5,744			
											
	Board Designated Cash & Investments &
Receivable from Irrigation Fund:										
	Operating Reserves	400		400						BOS designated for future use.	
	Capital Reserves & Short-Term Investments	1,565		1,111							
	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	
3,800		
3,346		
-		
-			

	Property and Equipment - Net	26,553		25,254							
	Property and Equipment - CIP	393		456		-		-			
	TotaI Assets	$35,836		$32,912		$6,027		$5,744			
											
	Liabilities & Net Position:										
	Accounts Payable										
	Operations Related	$375		$287							
	Accrued Liabilities & Other Payables	311		264		52		-			
	Gift Cards & Store Credits	138		122							
	Subtotal, operating liabilities	824		673		52		-			
											
	Deferred Revenue	3,616		3,371							
	Capital Lease Obligations	2,009		418						New cart lease and GCM Equipment	
	Capital Projects Payable	143		210							
											
	Due to UPCC Operating Fund					$1,835		$1,835			
	BAN Payable to Bank					4,140		3,909			
	Total Liabilities	6,593		4,672		6,027		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	789		2,374							
	Net Position	29,243		28,240		-		-			
											
	Total Liabilities & Net Position	$35,836		$32,912		$6,027		$5,744			

6/12/2026	2/4

UNIVERSITY PARK COUNTRY CLUB CAPITAL SOURCES AND USES AS OF MAY 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 Interest on Investments	9		
FY 2026 Initiation Fees	858		
FY 2026 10% Outside Golf	229		
FY 2026 Capital Dues	402		
Sub total, Init Fees, Capital Dues & 10% Outside Golf	7,454	Capital raised through Operations	
			
Total Sources of Capital	16,224		
			
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, Cart Barn Garage Doors	
87		
2026, Golf Club Rentals	12		
2026, Grille - Kitchen Equipment	26		
2026, Admin Furniture	3		
Subtotal, FY2026 Uses	1,328		
			
Construction In Progress			
2020, Master Plan Project	171		
Security Cameras	13		
Front 9 Project	193		
Boardwalk Project	4		
Subtotal, CIP	381		
			
Total Uses	14,802		
			
Remaining Capital Reserves	1,422	Capital Account Balance at 5/31/2026	
			
Due to operating capital from BAN or Bond	1,835		
			
Total Capital Reserves	3,257	Balance with Irrigation Project repayment	

6/12/2026	3/4

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

MTD & YTD STATEMENT OF CASH FLOWS, 8 MONTHS THROUGH
5/31/26				
	May	
	MTD		YTD	
Cash Flows From Operating Activities:				
				
Cash Receipts From Members & Guests	$ 894		$ 12,170	
Cash Payments To Vendors & Suppliers	(555)		(4,595)	
Cash Payments To PBM Staff Serving UPCC & UPRD	(592)		(4,958)	
				
Net Cash Provided (Used) By Operating Activities	(253)		2,618	
				
Cash Flows From Capital, Financing, And Other Non-Operating
Activities:				
Initiation Fees	$ 33		$ 866	
Capital Dues	10		402	
Purchase Of Equipment & Capital Projects	(32)		(470)	
FEMA Proceeds	-		8	
Transfer to General Fund	(21)		(259)	
Interest From Investments	11		14	
Net Cash Provided (Used) By Capital And Other Non-Operating
Activities	2		562	
				
Net Increase (Decrease) In Cash	(251)		3,180	
Cash At Beginning Of Period	5,808		2,378	
Cash At End Of Period	$ 5,557		$ 5,557	

6/12/2026	4/4

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

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

	May		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	3,942	3,528	414		33,570	35,464	(1,894)	
Outside Rounds	2,650	2,489	161		23,062	21,235	1,827	
	6,592	6,017	575		56,632	56,699	(67)	
Rounds of Golf (as of May 31, 2025):

	May		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	3,357	4,567	(1,210)		32,278	36,580	(4,302)	
Outside Rounds	2,263	3,490	(1,227)		19,815	23,407	(3,592)	
	5,620	8,057	(2,437)		52,093	59,987	(7,894)	

Overall revenue is $240k favorable to budget, driven primarily by Golf operations. Golf revenue is $238k favorable to budget (net of capital allocation), with higher outside rounds producing an $191k favorable variance in greens fees. Merchandise sales also surpassed budget, contributing an additional $53k 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 May 31, 2026

		CYTD Change		Beg. May		Additions		Resignations		Conversions		Total	
Golf													
Family - Resident		2		179		1		-		-		180	
Family - Non Resident		1		76		-		-		-		76	
Single - Resident		4		128		-		-		(1)		127	
Single - Non Resident		-		71		-		-		-		71	
		7		454		1		-		(1)		454	
Racquets & Fitness													
Family - Resident		2		30		-		-		-		30	
Family - Non Resident		(1)		14		-		-		-		14	
Single - Resident		-		38		-		-		(1)		37	
Single - Non Resident		1		25		-		-		1		26	
		2		107		-		-		-		107	
Social													
Family - Resident		(3)		455		1		(2)		1		455	
Family - Non Resident		-		52		-		-		-		52	
Single - Resident		3		209		1		-		1		211	
Single - Non Resident		(6)		53		-		-		(1)		52	
		(6)		769		2		(2)		1		770	
													
Total Memberships		3		1,330		3		(2)		-		1,331	
													
Passes		CYTD Change		Beg. Mar.		Net Change		Total					
Fitness		(5)		139		1		140					
Range		4		59		-		59					
Pickleball		2		52		-		52					
Twilight Tennis		(1)		18		-		18					
SAP		7		137		-		137					
		7		405		1		406					
*135 grandfathered non-members (-2 to prior month), 182 grandfathered members (Same as prior month)
**292 non-resident memberships (Same as prior month)

Summer Memberships		Current		Budget		Last Year	
Golf		63		63		75	
Tennis		14		50		51	
Total		77		113		126