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r <br />> • } <br />i - <br />• Ia <br />i: <br />COI.F COURSK OPF.RATINn FllNH <br />The following table presents six years of comparative operating results for the City’s Golf Course Operating <br />Fund: <br />Gross profit from sales $ 3,783 <br />Total operating revenue 127,649 <br />Total operating <br />expenses (107,973) <br />Operating income 23,439 <br />Nonoperating revenue 2,942 <br />Nonoperating expenses ____(798) <br />$ 5,623 <br />142,320 <br />$ 5,750 <br />136,620 <br />$ 8,349 <br />169,934 <br />$ 7,261 <br />166,673 <br />$ 7,848 <br />184,505 <br />(115,814) (123,616) (130,461) (142,170) (144,658) <br />32,129 <br />5,854 <br />18,754 <br />4,581 <br />47,822 <br />5,582 <br />(8,774) <br />31,764 <br />8,150 <br />47,695 <br />12,573 <br />(3,252) <br />Net income $ 25,603 $ 37,983 $ 23,335 $ 44,630 $ 39,914 $ 57,016 <br />Depreciation on <br />contributed assets <br />Operating income <br />as a percentage of <br />operating revenue <br />Statewide average <br />$254 $254 $ 254 $254 $709 $793 <br />18.4%22.6%13.7%28.1%19.1%25.9% <br />6.1%3.7%3.5%5.4%N/A N/A <br />* Per report of die State Auditor on Revenue. Expenditures, and Debt of Minnesota Cities over 2,S(X) <br />in population. <br />As the preceding table illustrates, the Golf Course Operating Fund continues to be quite profitable, with <br />operating margins well in excess of the statewide average for municipal golf course operations. Golf Course <br />revenues increased due to an increase in fees for 1996. The City’s Golf Course Operating Fund’s profits have <br />remained fairly consistent and have resulted in a healthy retained earnings balance. <br />.14- <br />V <br />j <br />% <br />c <br />V <br />i