Both Golf and Civic Center Funds have suffered significant revenue losses in FY20 and FY21. The attached presentation outlines the realized and projected revenue losses.
Civic Center:
•FY2020 March 2020 - June 2020
$134,000 in lost revenues
38 Events cancelled between March-June
•FY2021 September 2020 - February 2021
$343,000 to date in lost revenues
65 Events cancelled
18 Events held at discounted rates
21 Days of COVID related events including Municipal Court, Planning Board Meetings and District Court at free or discounted rates.
Golf:
•Golf revenue losses/unrealized revenue are estimated at approximately $200k for FY20/21. Revenue loss has been from season passes, day passes, cart rental, golf simulator, tournaments, lessons, pro-shop merchandise.
•Muni's Restaurant was closed for more than two months, in total, and has operated at limited capacity for the entire year. Revenue losses/unrealized revenue for FY20/21 are estimated to be approximately $250k
•Expense saving – staff did everything possible to limit expenses including furloughing all temporary employees while the restaurant was closed and limiting permanent staffing (not hiring a position until restaurant re-opened, reducing pro-shop position).
•Continued Revenue Losses in FY2021 |