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

The meeting of the Finance Committee of the University Park Recreation District will be held on Wednesday, July 15 at 3:00 pm at the Business Offices located at 8301 The Park Boulevard, University Park, FL 34201 and or virtually.

Meeting ID: 873 3546 9545 Passcode: 899142
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Finance Committee Meeting Agenda

Organizational Matters
Call to Order
Roll Call to Conﬁrm Quorum
Public Comment Period
Administrative Matters
Approval of Meeting Minutes
May 20, 2026 Meeting Minutes
June 17, 2026 Workshop Minutes
Review of Committee Terms
Staff Matters
Review of June Financial Summaries and Membership Report
Status Update on Departmental Reserve Review Efforts

Capital Projection of Sources and Uses

Business Matters
Status of Capital Approval Process
Presenter: Dick Crouch
Review of Progress on Cost of Ownership Project
Presenter: Tony Crisafio
Progress update on cost categorization and ownership analysis

Review Status of Line of Credit Proposal
Presenter: Craig Dwight
Status update regarding RFPs and timing

Capital Raising Activities
Presenter: Committee Discussion
Review of previously identified capital income initiatives
Discussion regarding reassignment of responsibilities and future work plan

Review of Specific Capital Projects Contemplated during 26’-27’ Fiscal Years
Presenter: Committee Discussion & Curtis Nickerson
Boardwalk
Audio/Visual System
Fitness Center
Front 9 - Regrassing

Next Meeting Scheduled
Date	Meeting Type	Time	Location	Note	
August 19, 2026	Finance Committee Meeting	3:00 pm	Business Offices	In person or by Zoom	

Finance Committee Member Requests & Comments

Public Comments

Adjournment

Approval of Meeting Minutes

May 20, 2026 Meeting Minutes
June 17, 2026 Workshop Minutes

MINUTES OF MEETING
UNIVERSITY PARK RECREATION DISTRICT FINANCE COMMITTEE MEETING
Wednesday, May 20, 2026
3:00 PM
Business Offices
8301 The Park Boulevard, University Park, FL 34201

Finance Committee Members Present: Richard Crouch	Chair
Cathie Schaffer	Vice Chair
Alan Port	Secretary
Tony Crisaﬁo	Member
Craig Dwight	Member Also Present in Person or Via Zoom:
Steve Swanson	Treasurer, University Park Recreation District Kwame Jackson	Assistant District Manager, PFM
John Fetsick	 General Manager, University Park Country Club Paul Fay	Controller, University Park Country Club
Sydney Johnson	Communications Director, University Park Country Club Various members of the public

FIRST ORDER OF BUSINESS	Organizational Matters
Call to Order, Roll Call, and Pledge of Allegiance
Mr. Crouch called the meeting to order at approximately 3:00 PM. Roll call was conducted, and a quorum was conﬁrmed with four Committee members present in person. Craig Dwight was present via zoom. The Pledge of Allegiance was recited.

Announcement Regarding Committee Resignation
Mr. Crouch announced that Cathie Schaffer had submitted her resignation from the
Finance Committee due to other volunteer and personal commitments. Committee

members expressed appreciation for Ms. Schaffer’s service and contributions to the
Committee.
Discussion followed regarding the process for ﬁlling the vacancy. District Management advised that the Board of Supervisors would formally acknowledge the resignation and determine the replacement process in accordance with established District procedures.

Temporary Vice Chair Appointment
Mr. Crouch recommended appointing Tony Crisaﬁo to serve as temporary Vice Chair of the
Finance Committee until the Board appoints a replacement committee member.

On MOTION by Mr. Port, seconded by Ms. Schaffer, with all in favor, Mr. Crisaﬁo was
appointed temporary Vice Chair of the Finance Committee.

Public Comment Period
No public comments were made.

SECOND ORDER OF BUSINESS	Administrative Matters Review & Approval of Prior Meeting Minutes
The Committee reviewed the following draft minutes:
March 16, 2026 Finance Committee Meeting Minutes
April 13, 2026 Finance Committee Workshop Minutes
April 15, 2026 Finance Committee Meeting Minutes

On MOTION by Mr. Port, seconded by Mr. Crisaﬁo, with all in favor, the March 16, 2026 Meeting Minutes, April 13, 2026 Workshop Minutes, and April 15, 2026 Meeting Minutes were approved as presented.

THIRD ORDER OF BUSINESS	Staff Matters
Review of April Financial Summaries and Membership Report

Mr. Fay reviewed the April ﬁnancial summaries and membership report.
Key ﬁnancial highlights included:

Year-to-date total revenue is approximately $149,000 favorable to budget.
Net operating surplus totaled approximately $1.052 million compared to a budgeted surplus of approximately $761,000, resulting in a favorable variance of approximately $291,000.
Golf operations revenue remained favorable to budget, driven primarily by outside rounds and merchandise sales.
Outside rounds exceeded budget by 1,666 rounds year-to-date.
Merchandise sales were approximately $55,000 favorable to budget.
Dining operations expenses remained favorable due primarily to lower cost of goods
sold, payroll efficiencies, and operational controls.
General and administrative expenses remained favorable due to payroll savings, lower advertising costs, insurance savings, and credit card fee variances.

Discussion followed regarding golf course maintenance timing differences caused by projects completed earlier than originally budgeted, the current cash and reserve position, capital reserve balances and amounts due back from the irrigation fund, continued strong initiation fee performance, and operational expectations entering the summer season.

Mr. Fay also reviewed membership totals as of April 30, 2026:
454 Golf Memberships
107 Racquets & Fitness Memberships
769 Social Memberships
1,330 Total Annual Memberships
63 Summer Golf Memberships
14 Summer Racquets Memberships
The Committee discussed the continued strength of membership demand, including the Full Golf membership waitlist.

No formal action was taken.

Review, Discuss, and Approve Final Draft of Capital Expenditure Approval Process
Mr. Fay reviewed the ﬁnal draft of the Capital Expenditure Approval Process and
summarized revisions made following prior Committee discussion. Discussion included the changes made since the last draft was presented.

On MOTION by Mr. Crisaﬁo, seconded by Ms. Schaffer, with all in favor, the Capital Expenditure Approval Process was approved as presented and recommended for implementation.

FOURTH ORDER OF BUSINESS	Business Matters
Discuss & Recommend Proposed Operating Budget (Enterprise Fund) FY2027
Mr. Fay reviewed revisions made to the proposed FY2027 Enterprise Fund Operating Budget
following the April budget workshop and continued management review.
Key revisions included increased projected outside rounds revenue assumptions, adjustments to salary increase assumptions, reﬁnement of departmental expense forecasts, and updated operating surplus projections.

The revised budget reﬂected:
Revenue of approximately $14.495 million;
Expenses of approximately $13.841 million;
Operating surplus of approximately $655,000; and
Capital income of approximately $1.406 million.

Mr. Fay stated that revised assumptions improved the projected operating surplus by approximately $174,000 compared to earlier draft projections.
Committee discussion focused extensively on balancing operating performance with long-term capital funding needs, the potential impact of future assessments, opportunities to offset future member cost increases through operational efficiencies, identiﬁcation of ﬁxed, variable, and discretionary expenses, food and beverage operating performance, payroll and minimum wage pressures, and industry benchmarking comparisons.
Mr. Fetsick cautioned that achieving a zero-dues-increase environment would not be realistic given industry labor trends and inﬂationary pressures, particularly with minimum wage increases impacting a signiﬁcant portion of staff.

The Committee discussed initiating a structured review process to categorize expenditures into ﬁxed, variable, and discretionary categories to better inform future budget and assessment discussions. The Committee agreed to begin a 60-day review effort immediately, with Paul Fay serving as the initial preparer of the expenditure categorization. The Committee will review the resulting analysis, with a goal of completing the process by mid-July.

On MOTION by Mr. Crisaﬁo, seconded by Ms. Schaffer, with all in favor, the Committee recommended approval of the revised FY2027 Enterprise Fund Operating Budget, as amended and discussed.

Discuss & Recommend 2025 Audit Report
The Committee reviewed the ﬁnal draft of the Fiscal Year 2025 Audit Report. Mr. Fay indicated that no material changes had been made to the audit and related reports since the last draft presented to the Committee.

Discussion included timing of presentation to the Board of Supervisors, government accounting presentation requirements, Enterprise Fund operational performance, depreciation impacts, and storm-related accounting impacts. Kwame Jackson raised scheduling concerns regarding the timing of the audit presentation relative to the June Board agenda.
Committee consensus supported moving forward with presentation of the audit report to the Board, subject to scheduling coordination.

On MOTION by Mr. Port, seconded by Mr. Crisaﬁo, with all in favor, the Committee recommended approval of the FY2025 Audit Report for presentation to the Board of Supervisors.

Review of Progress on Country Club Management Agreement Review
Mr. Port and Mr. Fay provided an update regarding the ongoing review of the Country Club Management Agreement and Mutual Cooperation Agreement.
Discussion included identiﬁcation of outdated policy references and provisions, areas requiring clariﬁcation or modernization, governance responsibilities related to agreement review, insurance provisions and liability language, operational consistency between agreements, and coordination with District Counsel.

Committee members noted several provisions requiring additional review by legal counsel and insurance professionals to ensure current market appropriateness and operational consistency. Kwame Jackson advised that comments and recommendations should ultimately be routed through District Counsel before Board consideration.

The Committee agreed that members would continue reviewing the agreements individually and provide comments to District Management and District Counsel for consolidation.
No formal action was taken.

Review of Progress on Cost of Ownership Project
Mr. Crisaﬁo provided an update on the Cost of Ownership comparison project. He stated that additional outreach had occurred with residents and volunteers to improve the methodology and consistency of data collection among comparable communities.
Discussion included reﬁnement of data gathering methods, ensuring comparable assumptions between communities, identifying ﬁxed versus variable ownership costs, use of the information for future ﬁnancial planning discussions, and the importance of presenting information in a clear and understandable format for residents.

No formal action was taken.

Review Status of Line of Credit Proposal
Mr. Dwight provided an update regarding the banking relationship and line of credit Request for Proposal (RFP) process.
Discussion included responses currently anticipated by June 17, 2026, potential banking relationship opportunities, revolving and non-revolving credit facilities, procurement and statutory compliance considerations, non-collusion requirements, and scheduling of a special workshop to review proposals.
Due to multiple Committee members being unavailable during portions of June, the Committee discussed holding a workshop instead of a standard meeting on June 17, 2026 to review responses and formulate recommendations, subject to district management conﬁrmation

No formal action was taken.

Schedule Reserve Review by Department
The Committee discussed scheduling departmental reserve review meetings with department heads during June and July.

The reviews will focus on useful life assumptions, replacement cost assumptions, capital prioritization, deferred assets, operating impacts, and alignment with the reserve study.

Committee members volunteered to assist with various departmental reserve reviews, including golf operations, general and administrative operations, and dining operations.
No formal action was taken.

FIFTH ORDER OF BUSINESS	Next Meeting Scheduled

Date	Meeting Type	Time	Location	Note	
June 17, 2026	Finance
Committee Meeting	3:00 PM	Business
Offices	In person or by Zoom	

Committee Member Comments & Requests
Committee members discussed continued reﬁnement of Club Benchmarking data, to more clearly reﬂect the local situation, the speciﬁc operations of the Country Club and its unique organizational structure, and scheduling coordination during summer travel months.
Mr. Crouch also discussed communication with banking representatives and broader
ﬁnancial relationship considerations involving both the District and HOA.

Public Comment
No public comments were made.

Adjournment
There being no further business to come before the Committee, the meeting was adjourned
at approximately 5:11 PM.

MINUTES OF MEETING
UNIVERSITY PARK RECREATION DISTRICT FINANCE COMMITTEE WORKSHOP
Wednesday, June 17, 2026
3:00 PM
Business Offices
8301 The Park Boulevard, University Park, FL 34201

Finance Committee Members Present:
Richard Crouch	Chair (via Zoom)
Alan Port	Secretary (via Zoom)
Tony Crisaﬁo	Member (via Zoom)
Craig Dwight	Member (in person)
Also Present in Person or Via Zoom:
Steve Swanson	Treasurer, University Park Recreation District Kwame Jackson	Assistant District Manager, PFM
John Fetsick	 General Manager, University Park Country Club Paul Fay	Controller, University Park Country Club
Sydney Johnson	Communications Director, University Park Country Club Various members of the public

FIRST ORDER OF BUSINESS

Organizational Matters
Call to Order, Roll Call, and
Pledge of Allegiance

Mr. Crouch called the meeting to order at approximately 3:00 PM. Roll call was conducted. It was determined that a quorum was not present. As a result, the meeting proceeded as a workshop for discussion purposes only. No motions or formal recommendations were made.

SECOND ORDER OF BUSINESS	Staff Matters
Review of May Financial Summaries and Membership Report

Mr. Fay reviewed the May ﬁnancial summaries and membership report. He reported that the Club's net operating surplus through the ﬁrst eight months of the ﬁscal year totaled approximately $1.15 million, representing a favorable variance of approximately $306,000 over budget. Discussion followed regarding continued strong performance in golf operations driven by outside rounds and merchandise sales, favorable dining results resulting from payroll efficiencies and cost of goods sold, and golf maintenance expenses that remain ahead of budget due to projects being completed earlier than originally scheduled.

The Committee also discussed favorable payroll and general administrative variances resulting from vacant positions and advertising expenditures that are expected to occur later in the ﬁscal year. Management noted that although operating performance remains favorable, results are expected to normalize during the summer months as seasonal activity declines.
Mr. Fay reviewed the balance sheet, including operating cash and capital reserves. Discussion included the presentation of operating surplus on the balance sheet and the inclusion of non-operating income associated with irrigation ﬁnancing proceeds. Staff agreed to revise future ﬁnancial statements to distinguish operating income from non-operating income for improved transparency.
Mr. Fay also reviewed the sources and uses of capital funds report, including remaining capital reserves, current capital expenditures, and FEMA and insurance reimbursements received during prior ﬁscal years. He also reviewed the monthly and year-to-date cash ﬂow statement.

The membership report reﬂected only minor changes during the month, with overall membership remaining stable. Discussion also included summer tennis membership performance, the upcoming ﬁxed versus discretionary expense review, and scheduled departmental capital reserve review meetings.
Conclusion:
Operating performance continues to exceed budget expectations while remaining consistent with management's expectation that results will moderate as the ﬁscal year progresses. Staff will continue reserve reviews and revise future ﬁnancial reporting to more clearly distinguish operating and non-operating activity.

No formal action was taken.		
THIRD ORDER OF BUSINESS	Business Matters	
	Capital Raising Activities	

Mr. Crouch led a discussion regarding potential increases to non-resident capital dues as part of the Committee's ongoing evaluation of long-term capital funding strategies.
Financial scenarios were reviewed, including increasing non-resident capital dues to twenty percent with a proposed annual minimum contribution of $300.
Discussion also included varying minimum contribution amounts by membership category, coordination with the Strategic Planning Committee, and balancing future capital contributions between resident and non-resident members.

Mr. Crisaﬁo volunteered to assume responsibility for continuing the Committee's capital
raising analysis.
Irrigation Note Extension Analysis
Mr. Crouch reviewed an analysis of potential extensions of the existing Bond Anticipation Note in response to questions raised during the recent Town Hall meeting. Discussion focused on the costs associated with extending the note, including additional interest, legal expenses, administrative costs, and assessment methodology expenses.
Committee members discussed whether extension costs should be recovered through a separate assessment or incorporated into future capital assessments. Additional discussion centered on a potential two-year extension that would separate kitchen and irrigation assessments into different years in an effort to lessen the ﬁnancial impact on homeowners.

Conclusion:
Committee members generally expressed support for further evaluating a two-year extension scenario rather than implementing a separate assessment solely to recover extension costs. Staff will prepare additional ﬁnancial modeling for future Board consideration.
Cash Flow Alternative Plan

Mr. Crouch summarized the Committee's review of the Cash Flow Alternative Plan presented by Board Member Scott Huebner. Discussion included projected revenue generated through additional monthly member charges, available capital reserves, future golf course funding requirements, legal limitations associated with long-term borrowing, and the operational implications of postponing or eliminating planned capital improvement projects.

Committee members generally agreed that the proposed alternative would not generate sufficient funding to support the approved capital improvement program without substantially delaying or abandoning signiﬁcant capital projects.

Conclusion:
The Committee concluded that the Cash Flow Alternative Plan is not a viable replacement for the District's existing capital improvement funding strategy.

Kitchen Cost Estimate

The Committee discussed questions regarding the inﬂation assumptions used in estimating kitchen renovation costs. Management agreed to review the original cost estimates and escalation methodology to ensure future communications accurately explain the basis for the estimates.
Country Club Management Agreement Review
Mr. Port provided an update regarding the ongoing review of the Country Club Management Agreement and the Cooperation Agreement. During discussion, Mr. Fetsick advised the Committee that the Park Boulevard Management Operating Agreement had recently been revised by the HOA Board without participation by the Recreation District.
Considering those developments, Mr. Crouch suggested suspending further committee work on the Management Agreement and the Cooperation Agreement until direction is provided by the Board of Supervisors.

Cost of Ownership
Benchmarking Update

Mr. Crisaﬁo reported on the status of the Committee's benchmarking project comparing University Park with peer communities. He advised that available research has largely been completed and that he intends to ﬁnalize the executive summary and supporting spreadsheet before presenting the information to the Strategic Planning Committee.
Line of Credit Proposal
Mr. Dwight provided an update regarding the Request for Proposals for the District's proposed Line of Credit. Discussion included the pending legal review, anticipated proposal review at the July Finance Committee meeting, and the expected timeline for Board consideration.

Committee Seat Vacancy

Mr. Crouch discussed the vacancy created by Cathie Schaffer's resignation and reviewed
the Board's process for appointing a replacement committee member. Committee

members also discussed attendance expectations, maintaining quorum throughout the remainder of the year, and the potential need to adjust future meeting schedules if necessary.
Conclusion:
The Committee will continue monitoring committee membership and attendance to ensure quorum can be achieved for future meetings while the Board considers appointment of a replacement member.

No formal action was taken.

Next Meeting Scheduled

Date	Meeting Type	Time	Location	Note	
July 15, 2026	Finance Committee
Meeting	3:00 PM	Business
Offices	In person or by Zoom	

Committee Member Comments & Requests
Committee members discussed the future frequency of Finance Committee meetings following completion of current ﬁnancing initiatives, maintaining quorum throughout the year, and continuing long-term reserve planning and capital funding strategies.

Public Comment
Members of the public emphasized the importance of providing homeowners with advance written communication before any future assessments appear on TRIM notices. Additional discussion included alternative approaches for funding irrigation note extension costs and balancing future resident and non-resident capital contributions.
Adjournment
There being no further business to come before the Committee, the meeting was adjourned at approximately 4:41 PM.

STAFF REPORT:
June Financial Summaries & Membership Report
Status Update on Departmental Reserve Review
Capital Projection of Sources and Uses

UNIVERSITY PARK COUNTRY CLUB STATEMENT OF OPERATIONS

YTD	OPERATING RESULTS, 9	MONTHS	Actual Results of	
Budget					
COMMENTS	
			THROUGH 6/30/26		UPCC Operations		$	Variance	%	Change		
						
												Total	Revenues	$11,576	$11,287	$289	2.6%		
				Less: Outside Golf	Capital	Allocation	(244)	(220)	(23)	10.6%		10%	of	Outside	Golf	Allocated	to	Capital	
		Total Revenues, Less	Capital	Allocation	11,332	11,067	266	2.4%		
						
												Total	Expenses	10,124	10,181	57	0.6%		
						
						Net	Operating	Surplus	(Deficit)	1,208	886	322	36.4%	Net Operating impact	
						
		Revenues	and	Expenses,	Details	Actual	Budget	$	Variance			%	Change		
Dues	revenue													$4,898	$4,964		($	66)	(1.3%)		
										
3,453	
3,202	
251	
7.8%	Outside	rounds exceeded the budget by 1,916	
Golf	operations	revenue												rounds.	Merchandise sales $57K favorable to	
Dining	operations	revenue								2,731	2,716	15	0.6%		
Racquets/Fitness/Other	operations	revenue	251	185	65	35.3%		
						
										Subtotal,	Revenues	11,332	11,067	266	2.4%		
						
Golf	operations													1,459	1,431	(29)	(2.0%)		
													
2,725	
2,675	
(50)	
(1.9%)	Projects that were	budgeted	for	later	in	the	year	
Golf	maintenance																completed early							
Dining	operations												3,488	3,578	90	2.5%	Food	COGS	65k,	Linens	29k,	waste	and	supplies	
Racquets	&	Fitness	operations						545	503	(43)	(8.5%)		
General	&	Adm													1,906	1,995	89	4.4%	Payroll	68k,	Insurance	15k,	CC	Fees	15k		
										Subtotal,	Expenses	10,124	10,181	57	0.6%		
						
Net Operating Surplus (Deficit),	net	of	$244k	
$1,208	
$ 886	
$ 322	
36.4%								
outside golf capital allocation									Variance	is	$322k,	36.4%	from	budget	

UNIVERSITY PARK COUNTRY CLUB COMPARATIVE BALANCE SHEET AS OF JUNE 30, 2026 AND 2025

		UPCC Operating Fund		Capital Irrigation Fund			
	
Assets	Unaudited 6/30/26		Unaudited 6/30/25		Unaudited 6/30/26		Unaudited 6/30/25		
Comments & Assumptions	
											
	Operating Cash & Short-Term Investments	$3,327		$2,375							
	Accounts Receivable	527		390							
	Inventory	302		329							
	Deposits & Prepaids	470		336						FY26 - Prepaid Insurance & Prepaid Cart Lease,
software, sales tax etc.	
	Future Assessments based on BAN or Long-Term Bonds					

6,040		

5,826		Amounts drawn from BAN, $4,140 + 65k Accrued Interest + Amounts borrowed from
UPCC Capital Reserves, $1,835	
	Subtotal, operating assets	4,626		3,430		6,040		5,826			
											
	Board Designated Cash & Investments &
Receivable from Irrigation Fund:										
	Operating Reserves	400		400						BOS designated for future use.	
	Capital Reserves & Short-Term Investments	1,477		871							
	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	
3,712		
3,106		
-		
-			

	Property and Equipment - Net	26,371		25,087							
	Property and Equipment - CIP	414		684		-		-			
	TotaI Assets	$35,123		$32,306		$6,040		$5,826			
											
	Liabilities & Net Position:										
	Accounts Payable										
	Operations Related	$321		$226							
	Accrued Liabilities & Other Payables	305		256		65		-			
	Gift Cards & Store Credits	135		121							
	Subtotal, operating liabilities	761		604		65		-			
											
	Deferred Revenue	3,142		2,928							
	Capital Lease Obligations	2,009		418						New cart lease and GCM Equipment	
	Capital Projects Payable	14		177							
											
	Due to UPCC Operating Fund					$1,835		$1,835			
	BAN Payable to Bank					4,140		3,991			
	Total Liabilities	5,926		4,127		6,040		5,826			
											
	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 Non-Operating Surplus	-464		1,639							
	Current Period Operating Surplus	1,208		675							
	Net Position	29,197		28,180		-		-			
											
	Total Liabilities & Net Position	$35,123		$32,306		$6,040		$5,826			

UNIVERSITY PARK COUNTRY CLUB CAPITAL SOURCES AND USES AS OF JUNE 30, 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	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	13		
FY 2026 Initiation Fees	890		
FY 2026 10% Outside Golf	244		
FY 2026 Capital Dues	413		
Sub total, Init Fees, Capital Dues & 10% Outside Golf	7,516	Capital raised through Operations	
			
Total Sources of Capital	16,286		
			
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		
2026, Security Cameras	13		
Subtotal, FY2026 Uses	1,341		
			
Construction In Progress			
2020, Master Plan Project	182		
Front 9 Project	202		
Boardwalk Project	4		
Subtotal, CIP	389		
			
Total Uses	14,822		
			
Remaining Capital Reserves	1,464	Capital Account Balance at 6/30/2026	
			
Due to operating capital from BAN or Bond	1,835		
			
Total Capital Reserves	3,299	Balance with Irrigation Project repayment	

7/11/2026	3/6

UNIVERSITY PARK COUNTRY CLUB STATEMENT OF CASH FLOWS AS OF JUNE 30, 2026

MTD & YTD STATEMENT	OF	CASH	FLOWS,	9	MONTHS				
THROUGH 6/30/26									
	
June	
	MTD		YTD	
Cash Flows From Operating Activities:				
				
Cash Receipts From Members & Guests	$ 716		$ 12,886	
Cash Payments To Vendors & Suppliers	(427)		(5,043)	
Cash Payments To PBM Staff Serving UPCC & UPRD	(543)		(5,501)	
				
Net Cash Provided (Used) By Operating Activities	(255)		2,342	
				
Cash Flows From Capital, Financing, And Other Non-				
Operating Activities:											
Initiation Fees	$ 32		$ 898	
Capital Dues	11		413	
Purchase Of Equipment & Capital Projects	(150)		(620)	
FEMA Proceeds	-		8	
Transfer to General Fund			(237)	
Interest From Investments	9		23	
Net Cash Provided (Used	) By	Capita	l And	Other	Non-	(98)		485	
Operating Activities						
				
Net Increase (Decrease) In Cash	(352)		2,827	
Cash At Beginning Of Period	5,557		2,377	
Cash At End Of Period	$ 5,204		$ 5,204	

University Park Recreation	District					
FY2026 General Fund Actual	& Budget					

Actual	
Anticipated		
Anticipated		
FY 2026	
Through	Jul. - Sept.		FY 2026		Adopted	
06/30/2026			Total		Budget	
Revenues						
PrYr Surplus	-	-		-		9,088	
Inter-Fund Transfers - Debt Service to O&M	75,486	-		75,486		70,000	
Inter-Fund Transfers - Country Club to O&M	237,412	35,587		272,999		220,912	

$312,898	
$35,587		$348,485		
$300,000	

General & Administrative Expenses						
Assessment Administration	10,000	-		10,000		10,000	
Audit	36,392	-		36,392		35,000	
Bank Fees	140	20		160		500	
Bond Admistration Fee	6,687	-		6,687		7,500	
Contingency	540	180		720		15,000	
Dissemination Agent	5,000	-		5,000		5,000	
District Counsel	133,358	39,000		172,358		110,000	
Dues, Licenses, and Fees	1,075	-		1,075		2,500	
Election Costs	10,621	-		10,621		10,000	
Insurance	21,569	-		21,569		17,500	
Legal Advertising	6,776	900		7,676		5,000	
Management	52,500	17,500		70,000		70,000	
Meeting Set Up	-	-		-		5,000	
Office Supplies	-	-		-		1,000	
Postage & Shipping	128	100		228		1,000	
Professional Services, Other	-	-		-		-	
Travel and Per Diem	-	-		-		-	
Web Site Maintenance	4,500	1,500		6,000		5,000	
Total General & Administrative Expenses	
$289,285	
$59,200		
$348,485		
$300,000	

UNIVERSITY PARK COUNTRY CLUB KEY PERFORMANCE INDICATORS FY 2025 Q3 FY 2026

	Operating	and	Strategic	Insights														
				
Q1	
FY25	
Q2 FY25	
Q3 FY25	
Q4 FY25	
Q1	
FY26	
Q2	
FY26		
Q3	
FY26	
Q3	
Budget		CB
Median	
				Trend						
	Net Operating Margin (before golf allocation) (Net Operating Result /		

9%	
3.3%	
14.4%	
7.7%	
-10.7%	
9.7%	
17.8%		
10.8%	
11.6%		
0.7%	
	Revenue)														
															
	Total Labor as a % of Operating
Revenue		
49%	52.6%	51.8%	51.9%	68.6%	49.1%	50.4%		49.8%	50.5%		57.0%	
															
	Net F&B Income/(Loss) as of % of		

49%	
-20.8%	
-19.2%	
-31.1%	
-100.5%	
-12.5%	
-20.6%		
-27.7%	
-28.8%		
-33.0%	
	F&B Revenue (F&B Subsidy/F&B
Revenue)														
															
	*Club Benchmarking - Median data from 74 Clubs, South Region, 10-15M Revenue, 18-27 Holes									

University Park Recreation District Summary Operating Data
As of June 30, 2026

Rounds of Golf (as of June 30, 2026):

	June		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	2,839	2,680	159		36,409	38,144	(1,735)	
Outside Rounds	2,340	2,251	89		25,402	23,486	1,916	
	5,179	4,931	248		61,811	61,630	181	
Rounds of Golf (as of June 30, 2025):

	June		YTD	
	Actual	Budget	Variance		Actual	Budget	Variance	
								
Member Rounds	2,527	3,559	(1,032)		34,804	40,139	(5,335)	
Outside Rounds	1,927	2,761	(834)		21,742	26,168	(4,426)	
	4,454	6,320	(1,866)		56,546	66,307	(9,761)	

Overall revenue is $266k favorable to budget, driven primarily by Golf operations. Golf revenue is $251k favorable to budget (net of capital allocation), with higher outside rounds producing an $206k favorable variance in greens fees. Merchandise sales also surpassed budget, contributing an additional $57k favorable variance.
Golf course maintenance expenses continue to remain slightly over budget due to various projects that were scheduled for later in the year but were completed earlier. We anticipate expenses to align with budget by the end of the fiscal year.

Membership

University Park Recreation District Summary Operating Data
As of June 30, 2026

		CYTD Change		Beg. Jun		Additions		Resignations		Conversions		Total	
Golf													
Family - Resident		1		180		-		-		(1)		179	
Family - Non Resident		-		76		-		-		(1)		75	
Single - Resident		7		127		1		-		2		130	
Single - Non Resident		1		71		-		-		1		72	
		9		454		1		-		1		456	
Racquets & Fitness													
Family - Resident		2		30		-		-		-		30	
Family - Non Resident		(1)		14		-		-		-		14	
Single - Resident		(1)		37		-		-		(1)		36	
Single - Non Resident		1		26		-		-		-		26	
		1		107		-		-		(1)		106	
Social													
Family - Resident		(5)		455		1		(2)		(1)		453	
Family - Non Resident		-		52		-		-		-		52	
Single - Resident		3		211		1		(2)		1		211	
Single - Non Resident		(6)		52		-		-		-		52	
		(8)		770		2		(4)		-		768	
													
Total Memberships		2		1,331		3		(4)		-		1,330	
													
Passes		CYTD Change		Beg. Jun		Net Change		Total					
Fitness		4		140		9		149					
Range		5		59		1		60					
Pickleball		4		52		2		54					
Twilight Tennis		(1)		18		-		18					
SAP		8		137		1		138					
		20		406		13		419					
*135 grandfathered non-members (Same as prior month), 180 grandfathered members (-2 to prior month)
**292 non-resident memberships (Same as prior month)

University Park Country Club Capital Account Forecast

Actual Capital Account Balance 6/30/2026	1,463,342

Fiscal Year 2026 Sources	Inititation Fees	Capital Dues	10% Outside Golf	Total		
July		10,300	13,243		23,543	
August		10,300	10,890		21,190	
September	10,300	11,262		21,562 	
			66,295	
2026 Approved Projects	Current Spend	Remaining		
Front 9 Project *	(202,027)	(263,973)	(466,000)	
Boardwalk Project (Proposal revisited by Curtis)*	(4,480)	(200,000)		(204,480) 	
Total 2026 Approved Projects			(670,480)	

Projected Capital Account Balance 9/30/2026	859,157

Fiscal Year 2027 Sources	Inititation Fees	Capital Dues	10% Outside Golf		
October	85,600	10,900	20,336	116,836	
November	236,750	321,000	24,958	582,708	
December	233,900	10,900	27,923	272,723	
January	18,950	10,900	29,093	58,943	
February	50,700	10,900	42,353	103,953	
March	36,250	10,900	48,204	95,354	
April	10,950	10,900	28,122	49,972	
May	3,650	10,900	15,967	30,517	
June	3,650	10,900	14,694	29,244	
July		10,900	13,763	24,663	
August		10,900	8,783	19,683	
September		10,900	10,484	21,384	
Total Fiscal Year 2027 Sources	680,400	440,900	284,679	1,405,979	
2027 Capital Budget					
Equipment Dining			
(31,729)	
(31,729)	
Fitness			(7,622)	(7,622)	
Racquets			(6,695)	(6,695)	
Golf Operations			(187,842)	(187,842)	
Golf Maintenance			(149,127)	(149,127)	
Golf Course Improvements*			(1,200,000)	(1,200,000)	
Total 2027 Capital Budget				(1,583,015)	

Projected Capital Account Balance 9/30/2027	682,121

*Discuss these items with Curtis
**Note : Sources does not include any re-imbursement from the Irrigation Project

Cost of Ownership Project

	Cost of Ownership of Home in University Park in Comparision to Other Communities	
	University
Park	
Laurel Oaks	
Waterlefe	Country
Club East	LWR
Country Club	University
Place	
Waterside	

Number of Transactions within Range	
51	
22	
20	
68	
65	
13	
65	
Average Square Footage	2,570	3,368	2,713	2,668	2,764	2,267	2,536	
Smallest Sq footage	1,735	2,110	1,481	1,603	1,730	1,459	1,764	
Largest Square Footage	4,227	5,460	3,478	3,883	4,701	2,639	4,413	
Average Sales Price	$	938,000	$ 1,351,000	$	848,000	$ 1,115,000	$ 1,008,000	$	592,000	$ 1,156,000	
Lowest Sales Price	$	489,000	$	800,000	$	400,000	$	515,000	$	520,000	$	415,000	$	560,000	
Highest Sales Price	$ 1,900,000	$ 2,075,000	$ 1,250,000	$ 1,890,000	$ 1,906,000	$ 1,800,000	$ 2,083,000	
Average Sales Price Per Square Foot	$	360	$	402	$	304	$	411	$	354	$	265	$	442	
Lowest sales price per sq foot	$	236	$	262	$	170	$	259	$	226	$	183	$	311	
Highest sales price per sq foot	$	614	$	571	$	365	$	628	$	576	$	316	$	610	
Calculated taxes based upon sales price	$	13,615	$	15,497	$	12,013	$	15,794	$	14,277	$	8,928	$	12,893	
Calculated CDD and Non Advalorum	$	1,595	$	995	$	4,586	$	3,194	$	4,210	$	3,273	$	2,652	
Calculated Average HOA based								
upon Public information available	 $	8,525   $	5,466   $	5,256   $	5,410   $	3,023   $	1,571   $	4,702 	
Total Estimated and Calculated Costs		
exclusive of memberships	 $	23,735   $	21,958   $	21,855   $	24,398   $	21,510   $	13,772   $	20,247 	

HOA Inclusions - obtained from public available information and the most difficult to provide comparable information	
Landscaping	yes	yes		yes	yes		
Irrigation - Reclaimed Water		yes		yes	yes	yes	
Xfinity - variety of levels of service	yes		yes		yes		
Pool	yes				yes		
Trash		yes					

Memberships											
Type of Club	Semi	Private	Equity		Semi Private		Private				
Golf Holes		27		36	18	available		72			
Tennis Courts		11		12	no			20	yes		
Pickleball Courts	yes			10	no	yes		12			
Dog Park			yes							yes	
Fitness Center	yes		yes		yes	yes	yes		yes	yes	
Club House	yes		yes		yes	yes				yes	
Playground			yes		yes				yes	yes	
Pool			yes		yes	yes			yes	yes	
Social Membership Costs											
Annual	$	1,550					
Initiation	$	2,500	$	7,500			$	6,000	
Gated Community						
Gated	yes	yes	yes	yes	yes	yes	
Guard	yes	yes	yes	yes		
Size	
Homes	1,200	400	600	2,100	400	
Members	1,300	950	300	5,300		

The memo emntitled "Cost of Home Ownership in University Park" should be read inconjunction with this schedule. The information used to compile this summary was obtained from publicly available information included in various real estate sites, such as MLS, Zillow, Realtor.com and the Manatee and Sarasota County Web sites. There was no independent verification conducted of the information for accuracy and/or completeness. In addition, assumptions were made to make the information comparable in some cases, that may or may be accurate, if additional information were obtained. Also, certain assumptions were made to facilitate various calculations, as identified below, that may or may not be reflective of the actual amounts – such as real estate tax estimates and Ad Valorum Assessments. As a result, the information included on this schedule should not be relied upon for any financial decisions or other reasons and is presented for information only.

Infromation prepared during the second quarter of 2026

Cost of Home Ownership in University Park
OVERVIEW
The project entailed calculating the estimated cost of ownership of an average home in University Park in comparison to an average home in several other communities in the area. It was a project conducted by the Finance Committee of the University Park Recreation District and for the use of the Finance Committee.
The communities that University Park was compared to are as follows:

a.	University Park		
b.	Laurel Oaks		
c.	Lakewood Ranch	- Club East	
d.		- LWR Country Club	
e.	Waterside		
f.	Waterlefe		
g.	University Place		
The information used to compile this summary was obtained from publicly available information included in various real estate sites, such as MLS, Zillow, Realtor.com and the Manatee and Sarasota County Web sites. There was no independent verification conducted of the information for accuracy and/or completeness. In addition, assumptions were made to make the information comparable in some cases, that may or may be accurate, if additional information were obtained. Also, certain assumptions were made to facilitate various calculations, as identified below, that may or may not be reflective of the actual amounts – such as real estate tax estimates and Ad Valorum Assessments. As a result, the information included on the schedule entitled “Cost of Ownership of Home in University Park in Comparison to Other Communities” should not be relied upon for any financial decisions or other reasons and is presented for information only.
FIVE DATA CATEGORIES WERE USED FOR THE ANALYSIS
The first part of the analysis was to obtain substantially all closed real estate transactions for the year ended December 31, 2025, in the six communities. There are approximately 300 closed transactions included in the analysis. Substantially all information was obtained during the second quarter of 2026. This information, with the help of local real estate agents, was obtained from the MLS and was obtained by zip code and subdivision indication in some cases. For each community in the group, the transactions were summarized to include,
Number of transactions
Average square footage of homes sold and the range of square footage from smallest to largest.
Average sales price of homes sold and the range of sales price from lowest to highest.

Average sales price per square foot and the range of sales price per square foot from lowest to highest.
Once the groups were compiled, many of the outlier home sales were eliminated from the analysis. For example, in one community four homes were sold with sales per square foot of between approximately $600 and $900, when the average sales price per square foot of the remaining homes in the sample was approximately $400. In some instances, available information was incomplete and appeared inaccurate, relative to the other transactions in the group and were eliminated – for example some homes had no Non-Ad Valorum Assessments when most of the other homes in the group did and the county tax records had no Non-Ad Valorum Assessments indicated for the home and they were eliminated from the analysis.
The second part of the analysis was to calculate the estimated real estate, CDD and Non-Ad Valorem Assessments of the properties. The Manatee and Sarasota County web sites were visited to obtain the millage rate for the communities in the sample and the composition of the Non-Ad Valorum Assessments to obtain those taxes levied on lot size and unit size. For each home in the sample the estimated future real estate taxes and Non-Ad Valorum taxes were calculated. No consideration was given to the homestead exemption that may be carried over to the property sold. Lot size was not easily obtainable, so square footage of the property was used as a proxy to calculate the Non-Ad Valorum Assessments. In addition, there was no adjustment to sales price to compute Assessed Value that was used in some instances, to calculate the real estate tax assessment.
Also included in the second phase of the project was an attempt to determine the nature of the expenditure for which the Non-Ad Valorem Assessments were assessed. These charges were typically identified as CDD and Steward District charges. Several community association managers were phoned in an attempt to determine the nature of the expenditures CDD and Non-Ad Valorem Assessments without success.
The third part of the analysis was to determine the types of amenities available to homeowners in the communities in the sample. For example, there were the communities gated, with and without guards, number of holes of golf available, tennis and pickleball courts, fitness and club house, and dog parks. This information was obtained from the MLS or Realtor.com listings of the individual homes included in the analysis and the respective websites for the communities. Several community association managers were phoned in an attempt to further refine the nature of the amenities included without success.
The fourth part of the analysis was to obtain, as best as could be determined, the HOA inclusions of benefits. For example, some communities included trash collection in the HOA dues, other landscaping and Xfinity, although the level of Xfinity packages varied. University Park had hurricane cleanup in the HOA fees and some communities within University Park have community pool costs included in the community portion of the HOA dues. The HOA dues were obtained from the MLS listing information. To the extent it could be independently verified it was, but this

information was not readily available. Some communities were split with half of the homes having HOA fees and the other half not having fees. In this instance the average HOA dues for those that did have indicated HOA dues was utilized as an estimate for those homes in the analysis that did not have HOA dues indicated. Several association managers were phoned to determine the nature of the amenities included, without success. For example, the Xfinity package included in the HOA fees at University Park costs approximately $1,300 annually because of the comprehensiveness of the package. Many of the communities in the analysis appear to provide minimal to no internet services included in the HOA dues. Some communities appear to include trash collection in the HOA dues while others do not.
The fifth and final part of the analysis was to obtain the minimum membership cost in the community, for example initiation fees, social membership fees, fitness center or other amenities. This information was the most difficult to obtain as it was generally not included in the MLS listings and not readily available from the websites of the communities. No consideration was given to elective memberships, such as golf, fitness, tennis, or others.
CONCLUSION
The results of the above analysis are shown on the attached schedule entitled "Cost of Ownership of Home in University Park in Comparison to Other Communities.” The conclusion one could reach is that the cost of ownership of a home in University Park is substantially comparable to those communities to which they were compared.

Line of Credit Proposals

Banking Services – Review and Consideration of Proposals
Tentative Schedule
The District will attempt to adhere to the following schedule:
July 1, 2026, Request for Proposals Issued August 12, 2026, Responses Due (By 2:00 PM ET)
August 19, 2026, Special Meeting – Review of Proposals (Finance Committee)* September 1, 2026, Board meeting – Consideration of Proposals
The District reserves the right to alter these tentative dates, if necessary or desirable.
*The Finance Committee will be evaluating proposals and providing a recommendation to the board

Capital Raising Activities

University Park Country Club Capital Dues Scenarios

Capital Dues		2027		Scenario #1		Scenario #2		Scenario #3		Scenario #4	
												
			Preliminary Budget		Nonresident % Increase to 12%		Nonresident % Increase to 13%		Nonresident % Increase to 14%		Nonresident % Increase to 20%	

Memberships	

Membership	
% of	

Count	

Rate	

Total	
% of	

Count	

Rate	

Total	
% of	

Count	

Rate	

Total	
% of	

Count	

Rate	

Total	
% of				
	Dues	Dues				Dues				Dues				Dues				Dues				
Full Family - Resident	12,425	5%	177	621.25	109,961.25	5%	177	621.25	109,961.25	5%	177	621.25	109,961.25	5%	177	621.25	109,961.25	5%	177	621.25	109,961.25	
Full Single - Resident	9,450	5%	130	472.50	61,425.00	5%	130	472.50	61,425.00	5%	130	472.50	61,425.00	5%	130	472.50	61,425.00	5%	130	472.50	61,425.00	
Full Family - Nonresident	12,425	10%	73	1,242.50	90,702.50	12%	73	1,491.00	108,843.00	13%	73	1,615.25	117,913.25	14%	73	1,739.50	126,983.50	20%	73	2,485.00	181,405.00	
Full Single - Nonresident	9,450	10%	70	945.00	66,150.00	12%	70	1,134.00	79,380.00	13%	70	1,228.50	85,995.00	14%	70	1,323.00	92,610.00	20%	70	1,890.00	132,300.00	
Full Total					328,238.75				359,609.25				375,294.50				390,979.75				485,091.25	
Racquets Family - Resident	5,355	5%	21	267.75	5,622.75	5%	21	267.75	5,622.75	5%	21	267.75	5,622.75	5%	21	267.75	5,622.75	5%	21	267.75	5,622.75	
Racquets Single - Resident	4,015	5%	36	200.75	7,227.00	5%	36	200.75	7,227.00	5%	36	200.75	7,227.00	5%	36	200.75	7,227.00	5%	36	200.75	7,227.00	
Racquets Family - Nonresident	5,355	10%	15	535.50	8,032.50	12%	15	642.60	9,639.00	13%	15	696.15	10,442.25	14%	15	749.70	11,245.50	20%	15	1,071.00	16,065.00	
Racquets Single - Nonresident	4,015	10%	23	401.50	9,234.50	12%	23	481.80	11,081.40	13%	23	521.95	12,004.85	14%	23	562.10	12,928.30	20%	23	803.00	18,469.00	
Racquets Total					30,116.75				33,570.15				35,296.85				37,023.55				47,383.75	
Social Family - Resident	1,650	5%	459	82.50	37,867.50	5%	459	82.50	37,867.50	5%	459	82.50	37,867.50	5%	459	82.50	37,867.50	5%	459	82.50	37,867.50	
Social Single - Resident	1,275	5%	205	63.75	13,068.75	5%	205	63.75	13,068.75	5%	205	63.75	13,068.75	5%	205	63.75	13,068.75	5%	205	63.75	13,068.75	
Social Family - Nonresident	1,650	10%	51	165.00	8,415.00	12%	51	198.00	10,098.00	13%	51	214.50	10,939.50	14%	51	231.00	11,781.00	20%	51	330.00	16,830.00	
Social Single - Nonresident	1,275	10%	58	127.50	7,395.00	12%	58	153.00	8,874.00	13%	58	165.75	9,613.50	14%	58	178.50	10,353.00	20%	58	255.00	14,790.00	
Social Total					66,746.25				69,908.25				71,489.25				73,070.25				82,556.25	
																						
				Total	425,101.75			Total	463,087.65			Total	482,080.60			Total	501,073.55			Total	615,031.25	
																						
					Increase from Preliminary Budget		37,985.90					56,978.85					75,971.80					189,929.50	
																						
Capital Dues		2027		Scenario #5		Scenario #6		Scenario #7		Scenario #8	
							Nonresident % Increase to 20%		Nonresident % Increase to 20%		Nonresident % Increase to 20%		Nonresident % Increase to 20%	
			Preliminary Budget		Minimum	Yes			Minimum	Yes			Minimum	Yes			Minimum	Yes		
							Amount	$	200			Amount	$	300			Amount	$	400			Amount	$	500		

Memberships	

Membership	
% of	

Count	

Rate	

Total	
% of	

Count	

Rate	

Total	
% of	

Count	

Rate	

Total	
% of	

Count	

Rate	

Total	
% of				
	Dues	Dues				Dues				Dues				Dues				Dues				
Full Family - Resident	12,425	5%	177	621.25	109,961.25	5%	177	621.25	109,961.25	5%	177	621.25	109,961.25	5%	177	621.25	109,961.25	5%	177	621.25	109,961.25	
Full Single - Resident	9,450	5%	130	472.50	61,425.00	5%	130	472.50	61,425.00	5%	130	472.50	61,425.00	5%	130	472.50	61,425.00	5%	130	500.00	65,000.00	
Full Family - Nonresident	12,425	10%	73	1,242.50	90,702.50	20%	73	2,485.00	181,405.00	20%	73	2,485.00	181,405.00	20%	73	2,485.00	181,405.00	20%	73	2,485.00	181,405.00	
Full Single - Nonresident	9,450	10%	70	945.00	66,150.00	20%	70	1,890.00	132,300.00	20%	70	1,890.00	132,300.00	20%	70	1,890.00	132,300.00	20%	70	1,890.00	132,300.00	
Full Total					328,238.75				485,091.25				485,091.25				485,091.25				488,666.25	
Racquets Family - Resident	5,355	5%	21	267.75	5,622.75	5%	21	267.75	5,622.75	5%	21	300.00	6,300.00	5%	21	400.00	8,400.00	5%	21	500.00	10,500.00	
Racquets Single - Resident	4,015	5%	36	200.75	7,227.00	5%	36	200.75	7,227.00	5%	36	300.00	10,800.00	5%	36	400.00	14,400.00	5%	36	500.00	18,000.00	
Racquets Family - Nonresident	5,355	10%	15	535.50	8,032.50	20%	15	1,071.00	16,065.00	20%	15	1,071.00	16,065.00	20%	15	1,071.00	16,065.00	20%	15	1,071.00	16,065.00	
Racquets Single - Nonresident	4,015	10%	23	401.50	9,234.50	20%	23	803.00	18,469.00	20%	23	803.00	18,469.00	20%	23	803.00	18,469.00	20%	23	803.00	18,469.00	
Racquets Total					30,116.75				47,383.75				51,634.00				57,334.00				63,034.00	
Social Family - Resident	1,650	5%	459	82.50	37,867.50	5%	459	200.00	91,800.00	5%	459	300.00	137,700.00	5%	459	400.00	183,600.00	5%	459	500.00	229,500.00	
Social Single - Resident	1,275	5%	205	63.75	13,068.75	5%	205	200.00	41,000.00	5%	205	300.00	61,500.00	5%	205	400.00	82,000.00	5%	205	500.00	102,500.00	
Social Family - Nonresident	1,650	10%	51	165.00	8,415.00	20%	51	330.00	16,830.00	20%	51	330.00	16,830.00	20%	51	400.00	20,400.00	20%	51	500.00	25,500.00	
Social Single - Nonresident	1,275	10%	58	127.50	7,395.00	20%	58	255.00	14,790.00	20%	58	300.00	17,400.00	20%	58	400.00	23,200.00	20%	58	500.00	29,000.00	
Social Total					66,746.25				164,420.00				233,430.00				309,200.00				386,500.00	
																						
				Total	425,101.75			Total	696,895.00			Total	770,155.25			Total	851,625.25			Total	938,200.25	
																						
					Increase from Preliminary Budget		271,793.25					345,053.50					426,523.50					513,098.50	

7/9/2026

Closing the capital gap									

Current sources:	
2025 Pro Forma		Transfer fee 1/2% <600K,
1%> 600K			Transfer fee flat 1/2%	Transfer fee flat 3/4%	Transfer fee flat 1%	
	Initiation fees		746,000						
									
	10% of outside play		276,000						
									
	Capital dues 5% / 10%		381,000						
		Current sources	1,403,000						
									
Potential new sources:									
	Transfer fees - 2025 sales	1/2% under $600K	16,875						
		1% over $600K	447,250			234,948	352,410	469,880	
									
	Increase Capital Dues	10% all categories; $500 Min. for non-full members	380,000			380,000	380,000	380,000	
									
		New sources	844,125			614,948	732,410	849,880	
									
		Current + New Sources	2,247,125			2,017,948	2,135,410	2,252,880	
									
	Recommend eliminating F&B minimum when implement new charges							
									
						Dec. sales $6.6MM		
	adjustments from last version: dele	ted capital charge per lot				1 sale <$600,000	$375,000	
						5 Sales > $600K totalling $6,225,000	
									
						prior 11 months $40,388,000	
						Total sales 2025 $46,988,000	
									
						8 sales < $600K		
						44 sales >$600K		

Review of Specific Capital Projects Boardwalk

University Park Country Club – Patio Deck Renovation | 7671 The Park Blvd, University Park, FL 34201

WILLIS SMITH CONSTRUCTION, INC.
Conceptual Cost Estimate

Architect:	Hoyt Architects – Sarasota, FL (AA0002434)	
Estimate Basis:	Conceptual – Hoyt Architects SD Drawings (A1.01–A7.01)	
Estimate Date:	June 2026	
Estimate Class:	AACE Class 5 Conceptual (±20–25%)	
Prepared By:	Robbie Gronbach | Willis Smith Construction, Inc.	

OPTION COMPARISON – COST SUMMARY	
Item		OPTION 1		OPTION 2	
General Conditions & Mobilization		$	58,975		$	51,250	

Concrete & Masonry (Stem Wall / Footing / SOG)

$	49,071

$	112,302

Demolition & Tree Removal	$	55,501	$	55,501
Structural Framing (Option 1 only)	$	76,100	$	-

Decking Surface (Option 1 only)

$	103,600

$	-

Aluminum Railings	$	68,600	$	68,600
Drainage System (Option 2 only)	$	-	$	27,500

$

87,169

$

33,915

50,873

$

65,377

$

TOTAL ESTIMATED COST	$588,394	$423,942

Site Restoration

$	24,000

$	24,000

Subtotal – Direct Costs Indirect Cost (15%)
Design Contingency (20%)

$	435,847	$	339,153

KEY QUANTITIES (BASIS OF ESTIMATE)		
Existing Deck Area (total)		1,794 SF	Per A1.02 – Deck Plan (Existing)	
Existing Deck – Demolish (all)		1,794 SF	Full demolition both options	
Proposed New Patio Area		2,640 SF	Per A1.04 – Deck Plan (Proposed)	
Trellis / Pergola Coverage		NA	Per A1.04 – NOT INCLUDED in either option	
Perimeter Stem Wall & Footing (proposed)		~308 LF	Estimated from 2,640 SF irregular plan	
Aluminum Railing (new perimeter)		~280 LF	Exposed edges excl. building attachment	
Mature Trees – Remove (red dots A1.03)		7 EA	Mix of slash pine / live oak – large specimens	
Trellis Bearing Height		NA	Per A3.03 Proposed Elevations	
Slab Depth (Option 2)		4" SOG	Per client scope item 7–8	
Interior PT Deck Footings (Option 1)		~12 EA	Est. at 8' grid within 2,640 SF deck area	
EXCLUSIONS – NOT IN THIS ESTIMATE (EITHER OPTION)				
✗ Pergola / Motorized Louvered Trellis System			1,240 SF under trellis per A1.04/A1.05	
✗ Architect / Structural / MEP Engineering Fees			Design, permitting support, CA services	
✗ Manatee County Building & SWFWMD Permit Fees			by Owner	
✗ Owner's Contingency			Recommend 15–20% on top of GC total	
✗ FF&E (furniture, umbrellas, accessories)			Not a construction cost item	
✗ Electrical / Lighting			Future scope – site lighting, outlets, controls	
✗ Landscaping / Irrigation Restoration			Pending design plan	
✗ Underground Utility Conflicts			Unknown at this stage; verify with utility locates	
✗ Arborist Report / Tree Removal Permitting			May be required by Manatee County	

DISCLAIMER: This is a conceptual estimate. Accuracy range is ±20–25%. Costs reflect Florida Gulf Coast (Sarasota/Manatee County) market conditions as of June 2026. Unit costs are order-of-magnitude only; actual bid prices will be determined through the competitive bidding process. All quantities are taken from schematic level drawings by Hoyt Architects and must be verified by the design team prior to bidding. Willis Smith Construction, Inc. assumes no liability for variance between this estimate and final construction cost.

ASSUMPTIONS, BASIS OF ESTIMATE & CLARIFICATIONS
University Park Country Club – Patio Renovation	
#	Category	Note / Basis	
1	Quantity Basis	Existing deck = 1,794 SF (A1.02). Proposed patio = 2,640 SF (A1.04). Full demolition of existing deck assumed in both options. Trellis coverage = 1,234 SF (A1.04) — NOT included in either option.	
2	A1.03 Mark-Up	Red dots = 7 mature trees for removal. Green zones est. 700 SF	
3	Stem Wall & Footing	Perimeter stem wall assumed as 8" split face CMU, with continuous footing at -2'-0" (per A3.03 elevation). Total perimeter estimated at ~280 LF based on 2,640 SF irregular plan shape from A1.04.	
4	Option 1 – PT Framing	Pressure-treated framing assumes 6x6 posts on concrete piers at 8' grid, 3-ply beams, and 2x10 joists at 16" OC. Interior piers estimated at 12 EA. All hardware to be hot-dipped galvanized per Florida Building Code exposure requirements.	
5	Option 1 – Trex Decking	Trex Transcend® or Enhance® series assumed (mid-grade). Final product selection (color, profile) to be confirmed with Architect. Hidden fastener system included. High-end Trex Signature® could add $5–10/SF.	
6	Option 2 – Fill Quantity	Fill volume estimated at ~145 CY based on 2,640 SF footprint x 18" average depth (accounting for existing grade variability). Actual quantity to be confirmed by survey/grading plan. Source to be clean structural fill.	
7	Option 2 – Slab Finish	4" concrete SOG per client scope. Broom finish included. Decorative stamped or stained finish is estimated as an optional upgrade line item (3.11) – TBD with Architect.	
8	Option 2 – Drainage	Concrete slab option requires engineered drainage. Minimum 1/8" per foot slope to area drains specified. SWFWMD may require drainage calculations for impervious surface change. This is a critical coordination item.	
9	Aluminum Railings	42" height required by Florida Building Code for elevated structures. Infill type (stainless steel cable) is included as base, TBD with Architect – this could drive a significant cost range ($80–$180/LF for enhanced infill; eg. glass, composite, etc.). Railing quantity estimated at 280 LF perimeter.	
10	Tree Removal	7 trees per red dot count on A1.03. Large slash pines and live oaks in an active club setting require specialized rigging, lifts, and careful debris management. An arborist report and Manatee County tree removal permit will likely be required. Costs do not include regulatory fees.	
11	Trellis / Pergola	The 1,234 SF motorized aluminum louvered pergola shown on A1.04/A1.05 is EXCLUDED from both options per updated scope. If added in the future, estimate
$65–$85/SF installed for a mid-grade system.	
12	Market Conditions	Florida Gulf Coast (Sarasota/Manatee) construction market as of June 2026. Labor is above national average. Material costs remain elevated. Lead time on aluminu railing systems is 8–12 weeks.	
13	Accuracy & Next Steps	Class 5 estimate accuracy is ±20–25%. To improve accuracy, Willis Smith recommends: (1) Arborist report, (2) Civil survey/grade plan, (3) Structural engineer design for footing/stem wall, (4) Railing system selection with Architect.	

OPTION 1	PRESSURE-TREATED WOOD DECK WITH TREX® COMPOSITE DECKING
University Park Country Club – Patio Renovation	
Prepared by Willis Smith Construction, Inc. | June 2026 | Accuracy ±20–25%	
#	Description	Qty	Unit	Unit Cost	Total	
DIVISION 1 GENERAL CONDITIONS & MOBILIZATION	
1.01	Management and Supervision	17.0	WK	$1,650.00	$28,050	
1.02	General Requirements	17.0	WK	$925.00	$15,725	
1.03	Temporary fencing / site security	1.0	LS	$5,500.00	$5,500	
1.04	Dumpster & debris hauling	4.0	EA	$675.00	$2,700	
1.05	Portable facilities / site setup	1.0	LS	$5,500.00	$5,500	
1.06	Final clean-up & punch list	1.0	LS	$1,500.00	$1,500	
				Division 1 Subtotal	$58,975	
DIVISION 2 DEMOLITION & SITE CLEARING	
2.01	Demolish existing PT wood deck – entire area	1,794.0	SF	$5.00	$8,970	
2.02	Remove existing wood perimeter railings	318.0	LF	$10.00	$3,180	
2.03	Remove existing deck footings / concrete piers	25.0	EA	$250.00	$6,250	
2.04	Mature tree removal – large specimens (7 trees per A1.03)	7.0	EA	$3,750.00	$26,250	
2.05	Tree stump grinding & root clearing	7.0	EA	$525.00	$3,675	
2.06	Understory clearing & grubbing (black zone)	1.0	LS	$1,500.00	$1,500	
2.08	Subgrade rough grading & leveling	2,640.0	SF	$2.15	$5,676	
				Division 2 Subtotal	$55,501	
DIVISION 3 CONCRETE – PERIMETER STEM WALL, FOOTINGS & INTERIOR PIERS	
3.01	Continuous perimeter footing – 18"W x 12"D CIP concrete	17.1	CY	$800.00	$13,689	
3.02	Perimeter stem wall – 8" Split Face CMU, ~24" exposed height	822.4	SF	$35.00	$28,783	
3.03	Interior precast concrete framing piers for PT framing	12.0	EA	$550.00	$6,600	
				Division 3 Subtotal	$49,071	
DIVISION 6 PRESSURE-TREATED WOOD FRAMING	
6.02	PT posts – 6x6 on concrete piers, with hardware	12.0	EA	$300.00	$3,600	
6.03	PT beams – 3-ply 2x10 or 4x10, on post caps	2,640.0	SF	$8.00	$21,120	
6.04	PT joists – 2x10 @ 16" OC with joist hangers	2,640.0	SF	$9.00	$23,760	
6.05	PT blocking, bridging & rim boards	2,640.0	SF	$3.00	$7,920	
6.06	Galvanized hardware, joist hangers, post bases, bolts	1.0	LS	$8,500.00	$8,500	
6.07	Perimeter fascia - built-up composite wrap	280.0	LF	$40.00	$11,200	
				Division 6 Subtotal	$76,100	
DIVISION 6B TREX® COMPOSITE DECKING SYSTEM	
6B.01	Trex Transcend® or Enhance® composite deck boards – material	2,640.0	SF	$20.00	$52,800	
6B.02	Trex installation labor – hidden fastener system	2,640.0	SF	$15.00	$39,600	
6B.03	Trex starter boards, fascia boards & trim	280.0	LF	$40.00	$11,200	
				Division 6B Subtotal	$103,600	
DIVISION 5 ALUMINUM RAILING SYSTEM	
5.01	Aluminum perimeter railing – 42" H per code (supply & install)	280.0	LF	$165.00	$46,200	
5.02	Railing infill – stainless steel cable	280.0	LF	$80.00	$22,400	
5.03	Aluminum gate(s) – entry/exit from patio (NOT INCLUDED)	0.0	EA	$3,500.00	-	
				Division 5 Subtotal	$68,600	
DIVISION 32 SITE IMPROVEMENTS & RESTORATION	
32.01	Landscape restoration – replacement plantings (allowance)	1.0	LS	$15,000.00	$15,000	
32.02	Mulch & groundcover re-establishment	1.0	LS	$4,000.00	$4,000	
32.03	Irrigation adjustments (allowance)	1.0	LS	$5,000.00	$5,000	
				Division 32 Subtotal	$24,000	

SUBTOTAL – DIRECT CONSTRUCTION COSTS	$435,847

OPTION 2	CONCRETE SLAB ON GRADE WITH PERIMETER STEM WALL
University Park Country Club – Patio Renovation	
Prepared by Willis Smith Construction, Inc.| June 2026 | Accuracy ±20–25%	
#	Description	Qty	Unit	Unit Cost (High)	Total (High)	
DIVISION 1 GENERAL CONDITIONS & MOBILIZATION	
1.01	Management and Supervision	14.0	WK	$1,650.00	$23,100	
1.02	General Requirements	14.0	WK	$925.00	$12,950	
1.03	Temporary fencing / site security	1.0	LS	$5,500.00	$5,500	
1.04	Dumpster & debris hauling	4.0	EA	$675.00	$2,700	
1.05	Portable facilities / site setup	1.0	LS	$5,500.00	$5,500	
1.06	Final clean-up & punch list	1.0	LS	$1,500.00	$1,500	
Division 1 Subtotal	$51,250	

DIVISION 2 DEMOLITION & SITE CLEARING	
2.01	Demolish existing PT wood deck – entire area	1,794.0	SF	$5.00	$8,970	
2.02	Remove existing wood perimeter railings	318.0	LF	$10.00	$3,180	
2.03	Remove existing deck footings / concrete piers	25.0	EA	$250.00	$6,250	
2.04	Mature tree removal – large specimens (7 trees per A1.03)	7.0	EA	$3,750.00	$26,250	
2.05	Tree stump grinding & root clearing	7.0	EA	$525.00	$3,675	
2.06	Understory clearing & grubbing (black zone)	1.0	LS	$1,500.00	$1,500	
2.08	Subgrade rough grading & leveling	2,640.0	SF	$2.15	$5,676	
				Division 2 Subtotal	$55,501	
DIVISION 3 CONCRETE – PERIMETER STEM WALL, FILL, COMPACTION & SLAB ON GRADE	
3.01	Continuous perimeter footing – 18"W x 12"D CIP concrete	17.1	CY	$800.00	$13,689	
3.02	Perimeter stem wall – 8" Split Face CMU, ~24" exposed height	822.4	SF	$35.00	$28,783	
3.04	Waterproofing / dampproofing of stem wall	822.4	SF	$11.00	$9,046	
3.05	Clean structural fill – import & spread within stem wall	145.0	CY	$55.00	$7,975	
3.07	Mechanical compaction & density testing	2,640.0	SF	$2.00	$5,280	
3.08	4" concrete slab on grade – 3,000 PSI, 6x6 W2.9/W2.9 WWM	2,640.0	SF	$15.00	$39,600	
3.09	Vapor barrier – 10 mil poly under slab	2,640.0	SF	$1.00	$2,640	
3.10	Concrete finish – broom finish base (incl. in slab unit cost)	1.0	LS	-	-	
3.11	Decorative concrete finish upgrade – stamped or stained (OPTION NOT INCLUDED)	2,640.0	SF	-	-	
3.12	Concrete curing & sealer	2,640.0	SF	$1.00	$2,640	
3.13	Control joints – saw-cut at 10' grid	530.0	LF	$5.00	$2,650	
				Division 3 Subtotal	$112,302	
DIVISION 5 ALUMINUM RAILING SYSTEM	
5.01	Aluminum perimeter railing – 42" H per code (supply & install)	280.0	LF	$165.00	$46,200	
5.02	Railing infill – glass panels, cable, or aluminum pickets (TBD w/ Architect)	280.0	LF	$80.00	$22,400	
5.03	Aluminum gate(s) – entry/exit from patio	0.0	EA	$3,500.00	-	
				Division 5 Subtotal	$68,600	
DIVISION 7 DRAINAGE (CRITICAL FOR CONCRETE SLAB OPTION)	
7.01	Surface drainage – area drains in slab	5.0	EA	$2,500.00	$12,500	
7.02	Subsurface drainage piping to daylight / storm system	1.0	LS	$15,000.00	$15,000	
7.03	Slope & pitch verification (min. 1/8" per ft. on slab, included in slab unit cost)	1.0	LS	-	-	
				Division 7 Subtotal	$27,500	
DIVISION 32 SITE IMPROVEMENTS & RESTORATION	
32.01	Landscape restoration – replacement plantings (allowance)	1.0	LS	$15,000.00	$15,000	
32.02	Mulch & groundcover re-establishment	1.0	LS	$4,000.00	$4,000	
32.03	Irrigation adjustments (allowance)	1.0	LS	$5,000.00	$5,000	
Division 32 Subtotal	$24,000	

SUBTOTAL – DIRECT CONSTRUCTION COSTS	$339,153

Option 1 (PT Deck + Trex): ~17 weeks total  | Option 2 (Concrete Slab): ~14 weeks total | ⚠ Durations are preliminary estimates; subject to permitting, weather & subcontractor availability

WILLIS SMITH CONSTRUCTION, INC.
Preliminary Construction Schedule – University Park Country Club Patio Renovation

#	Phase	Activity / Description	Wks	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	

OPTIO N 1  PT DECK WITH TREX® COMPOSITE DECKING  Estimated Duration: ~17 Weeks	
1	Pre-Construction	Permitting, approvals & material procurement	4																		
2	Mobilization	Site setup, temp fencing & staging area	1																		
3	Demolition	Mature tree removal – 7 specimens (rigging required)	2																		
4	Demolition	Demo existing deck, railings & concrete footings	2																		
5	Demolition	Site clearing, grubbing & debris disposal	1																		
6	Concrete	Perimeter footing – excavation, form, pour & cure	2																		
7	Concrete	Perimeter stem wall – forming, pour & cure	2																		
8	Concrete	Interior concrete piers – 35 EA at 8' grid	2																		
9	PT Framing	PT posts, ledger & beam installation	1																		
10	PT Framing	PT joist framing, blocking & bridging	1																		
11	Trex Decking	Trex® composite deck board installation	2																		
12	Aluminum Railings	Perimeter aluminum railing system (supply & install)	2																		
13	Finishes	Perimeter fascia, trim, steps & accessories	1																		
14	Site Work	Landscaping restoration & irrigation adjustments	1																		
15	Closeout	Final inspections, punch list & owner turnover	2																		
ⓘ Key Notes: All durations are preliminary and subject to change pending permit timelines, weather, and subcontractor lead times.	
ESTIMATED TOTAL DURATION		

OPTIO N 2  CONCRETE SLAB ON GRADE  Estimated Duration: ~14 Weeks	
1	Pre-Construction	Permitting, approvals & procurement	3																		
2	Mobilization	Site setup, temp fencing & staging area	1																		
3	Demolition	Mature tree removal – 7 specimens (rigging required)	2																		
4	Demolition	Demo existing deck, railings & concrete footings	2																		
5	Demolition	Site clearing, grubbing & debris disposal	1																		
6	Concrete	Perimeter footing – excavation, form, pour & cure	2																		
7	Concrete	Perimeter stem wall – forming, pour & cure	2																		
8	Earthwork	Structural fill import, placement & compaction	2																		
9	Concrete	Drainage, vapor barrier, WWM & slab pour	1																		
10	Concrete	Slab cure – minimum 7 days before loading	1																		
11	Concrete	Decorative finish – stain / stamp / seal (TBD)	1																		
12	Aluminum Railings	Perimeter aluminum railing system (supply & install)	2																		
13	Site Work	Landscaping restoration & irrigation adjustments	1																		
14	Closeout	Final inspections, punch list & owner turnover	2															

ESTIMATED TOTAL DURATION

ⓘ Key Notes: ⚠Critical path – do not anchor railing until cured	
						← 14 WEEKS →										

SCHEDULE LEGEND

PCN / Closeout	Mobilization / Site	Demolition	Construction	Site Work & LA

⚠ FLORIDA MARKET SCHEDULE NOTES: (1) Manatee County building permit typically 4–8 weeks; tree removal permit adds 2–4 weeks — begin permitting immediately upon project award. (2) Florida rainy season (June–September) can add 10–15% to exterior concrete and framing durations; schedule wet-season pours early morning. (3) Aluminum railing systems typically carry 8–12 week lead time from fabricator — order must be placed concurrent with permit submission. (4) Tree removal by a licensed FL arborist is required; scheduling availability for large-crane rigging in Manatee County can add 1–2 weeks. (5) Concrete cure times are non-negotiable — do not allow construction loading on stem wall or slab before minimum cure per ACI 308.

On Friday, July 10, 2026, 2:20 PM, Curtis Nickerson <CNickerson@universitypark-ﬂ.com> wrote:

All,
Please ﬁnd the attached quote for the boardwalk repair work.
Given the condition of the existing structure, I recommend including a 15% contingency to account for any unforeseen conditions that may be discovered once the work begins.
Based on what we’ve observed, I believe there is a reasonable possibility that additional repairs could be required.
To help control costs while providing ﬂexibility, it may be best to structure this as a not-to-exceed project with a maximum budget of $20,000. Pressure-treated lumber remains relatively expensive, and this approach allows us to address any hidden issues without exceeding an approved spending limit.
Please let me know if you have any questions or would like to discuss the proposal further

CURTIS NICKERSON
Director of Properties & Facilities University Park Country Club
7671 The Park Blvd, University Park, FL 34201
Stay Connected with UPCC

941-355-3888 ext. 249	cnickerson@universitypark-ﬂ.com Turf Talk YouTube

Guadarrama's Healthy Turf & Flowers 2205 Pleasant View Avenue
Ruskin, FL 33570

PROPOSAL

Prepared For	Prepared By	
University Park Comm. Assoc. 7671 The Park Blvd.
University Park
Florida 34201	Linda Guadarrama	
Proposal Date	Valid Until	
07/08/2026	09/12/2026	
Description	Proposal Number	
THIS PROPOSAL IS TO REPLACE ALL THE DAMAGED WOOD IN THE BOARD WALK.
ALL NEW MATERIAL WILL BE PRESSURE TREATED WOOD.
AFTER REPLACING ALL WOOD WE WILL PRESSURE
WASH PREPARE TO PAINT IT.	2846	

Quantity	Product	Price	Tax	Total	
THIS CAN BE COMPLETED FOR THE AMOUNT OF......	15,650.00	0%	15,650.00	
	Subtotal	15,650.00	
	Tax	0.00	
	Total	15,650.00	

Please sign in acceptance of this proposal or contact me if you have any questions.

Review of Specific Capital Projects
Audio/Visual System

Quotation

Focused Technology
1850 Porter Lake Drive, Suite 102
Sarasota FL 34240	Date	5/12/2026	
Phone: 941-926-0624 Toll Free: 888-686-0551 Fax: 941-927-6431			
www.focusedtechnology.com	Quote	71525	

Bill To

Ship To

University Park Country Club 7671 The Park Blvd University Park FL 34201

Project Desc.	Terms	FOB	Rep	Valid Thru	
	50% Deposit		PD		
Item
PT-VMZ72U8	Description
Panasonic PT-VMZ72U8 Projector -1920x1200 3LCD, 7,300 lumens, 1.60:1 zoom, 15.2 lbs	Qty
1	Cost
4,699.00	Total
4,699.00T	
EC-HD21-25	HDMI Cable, 4K, 18G - 25FT		1	30.00	30.00T	
SLXD24D+/58-G57	Shure Dual Wireless System with 2 SLXD2+/58 Handheld Transmitters	2	1,649.00	3,298.00T	
SLXD1+=-G57	Shure Wireless Bodypack Transmitter		2	299.00	598.00T	
MX153T/O-TQG	Omnidirectional Earset Headworn Microphone, TQG for Shure Bodypacks, Tan	2	285.00	570.00T	
CUSTOM	Wall Plate 2 x XLR and 3.5 Audio		1	69.00	69.00T	
CUSTOM	Access E Screen Non-Tensioned - 133" Diagonal HDTV (16:9) XT1000E Matt White *Video Masking *Viewing Area:65H x 116W Overall Area: 69H x 120W *** 133 3/4" Long White Case Including Flanges *115 VAC Motor * with built-in LVC-IV *Hook up Left *121225 LVC-S LV-IV CONT STATION	1	3,980.00	3,980.00T	
40938	100ft 3.5mm M/M Stereo Audio Cable		1	39.00	39.00T	
40415	3.5mm Stereo Audio Cable - 25' ft, Male to Male, Black - 40415	1	4.26	4.26T	
VSUP	XLR cables, Adapter cables			200.00	200.00T	
We appreciate the opportunity. Please contact us with any questions.	Subtotal		
			Sales Tax (7.0%)		
			Total		
		Page 1		

Quotation

Focused Technology
1850 Porter Lake Drive, Suite 102
Sarasota FL 34240
Phone: 941-926-0624 Toll Free: 888-686-0551 Fax: 941-927-6431
www.focusedtechnology.com	Date Quote	5/12/2026
71525	
Bill To
University Park Country Club 7671 The Park Blvd University Park FL 34201	Ship To		

Project Desc.	Terms	FOB	Rep	Valid Thru	
	50% Deposit		PD		
Item	Description	Qty	Cost	Total	

SHP	Shipping	500.00	500.00T	
INSTALL	Installation Charge - Removal of existing screen. Installation of the above equipment. Testing and Training	7,500.00	7,500.00T	
	
Note: Projector will be on a client provided cart or table approximately 10.5' in front of screen.			
	Note: Computer audio will be via HDMI to the projector. A 3.5 mm audio cable will run from the projector to the wall plate. The 100ft 3.5 audio cable above will carry the audio to the amplifier and then to the room speakers.			

We appreciate the opportunity. Please contact us with any questions.

Subtotal	$21,487.26

Sales Tax (7.0%)	$1,504.11
Total	$22,991.37

Page 2

Review of Specific Capital Projects
Front 9 - Regrassing

UNIVERSITY PARK CC
COST ESTIMATE
Prepared by
GARL NIX GOLF COURSE DESIGN 704 SOUTH MISSOURI AVENUE LAKELAND, FLORIDA
PHONE: (863) 582-2178
July 2026

CONSTRUCTION ITEM	COST

MOB, Housing, Project Management, Gen. Conditions, OH, Staking	$ 80,000
Sod Cut 2 inches of Existing Turf from Tee Tops, indicated on the plan Haul & Bury.
Use fill for cart paths, widening and connecting tees. (60,050 sq.ft. @ $ .25  /sq.ft.)	$ 15,000
Sod Cut 2 inches of turf from areas to be sodded
Existing Turf from Green Perimeters, Collars, Tee & Bunker Perimeters,
indicated on the plan Haul & Bury. Use fill for cart paths, widening and connecting tees.
(150,725 sq.ft. @ $. 30  /sq.ft.)	$ 18,000
Earthwork – Holes #4 &#6 (see grading plan) Fill material from bury pits and lake expansion.
(1,000	cubic yds. @ $ 20.00  per cubic yd)	$ 20,000
Rough Shaping	$ 28,800
Golf Course Drainage Pipe & Inlets (Allowance)	$ 75,000
Demo of Existing Fairway Bunkers removal of existing sand
and disposal of drainage pipe (Off-Site) (85,100 sq.ft. @ $ 4.50 / sq.ft.)	$ 382,950
Installation of 4” G-Angle Sand and Drainage in all
Fairway Bunker (85,100 sq.ft. @ $ 1.90  / sq.ft.)	$ 161,690
Four-inch Bunker Outfall Pipe (1,600 / l.f. @ $ 8.50 / l.f.)	$ 13,600
Rotadairon & Roll Fairways and Rough i.e. sprig areas
(16.00/Acres @ $ 4,300 /Acre)	$ 68,800
Fine Shaping Includes - Float Work and Hand Finish	$ 30,000
Laser Level Tee Tops (60,050 sq.ft. @ $ .30  /sq.ft.)	$ 18,000
Cart Paths - Remove existing 7’ concrete paths bury, remove
(TBD sq.ft. @ $ 2.10 /sq.ft.)	TBD
New 7’ Concrete Cart Path) (TBD sq.ft. @ $ 10.70 /sq.ft.)	TBD
13. New 12’ Concrete Cart Path) (TBD sq.ft. @ $ 10.70 /sq.ft.)	TBD
Grassing - Sprig Fairways Bimini (16.00/ acres @ $ 4,800  /acre)	$ 76,800
Grassing - Sprig Tee Tops Bimini (60,050sq.ft. @ $ ,15   /sq.ft.)	$  9,000
Grassing - Sod Perimeters of Greens, Tees & Bunkers Bimini (150,725 sq.ft. @ $ .95  /sq.ft.)	$ 143,188
Grassing – Repair & Sprig Bury Pits Areas Bimini	$  5,000
As-builts	$  7,500
TOTAL	$ 1,153,328