Beaver Meadow Facility Fiscal Policy Advisory Committee

Beaver Meadow Facility Fiscal Policy Advisory Committee Discussion January 27, 2025

Three Options Option 1 Renovate existing facility $5,427,010 Option 2 Renovate with addition $8,074,327 Option 3 New Building $8,054,800

Committee Recommendations Ad-hoc Beaver Meadow Building Committee Recommends Option 3 New Building Golf Course Advisory Committee Recommends Option 3 New Building Fiscal Policy Advisory Committee will review finances and next steps

Fiscal Year 2025 Tax Rate Impact Comparison of General Fund Parks & Recreation and Library Departments to Golf and Arena Funds Parks and Recreation 843,648.00 3,123,897.04 (2,280,249.04) 2,280,249.04 Library 226,300.00 2,313,234.59 (2,086,934.59) 2,086,934.59 Golf Arena 813,240.00 897,879.72 (84,639.72) 100,839.90 Operating Revenues Operating Expenses 1,905,712.00 1,782,057.00 123,655.00 90,163.61 Net General Fund Operations Non-Major Fund Debt Service - - General Fund Debt Service Total General Fund Impact Impact on Tax Rate Tax Rate Property Value Impact on Property Tax 1,284,850.99 3,565,100.03 86,290.35 2,173,224.94 290,505.92 290,505.92 4,139.81 4,139.81 6.79% 9.84 4.14% 9.84 0.55% 9.84 0.01% 9.84 350,000.00 $ 350,000.00 $ 350,000.00 $ 350,000.00 $ 233.90 142.58 19.06 0.27

New Expenses Option 3 New Facility Description Window washing Cleaning staff (1 ppt) Natural Gas (new building) Natural Gas (existing budget) Electricity (new building) Electricity (existing budget) Electricity (solar reduction) Solar (reduction) Water/Wastewater Water/Wastewater Supplies Janitorial Outside Services Repairs/maintenance Outside Services Repairs/maintenance (existing) Transfer Out - Reserve Clubhouse Maintenance Reserve Supplies Simulator supplies Outside Services Simulator software maintenance Account Outside Services Comp/Fringe Natural Gas Natural Gas Electricity Electricity 2027 2,000.00 24,630.32 20,000.00 (10,000.00) 15,672.00 (5,000.00) (20,000.00) 6,000.00 18,000.00 30,000.00 (17,000.00) 10,000.00 3,000.00 500.00 1 @ $22.00/hr @ 20 hrs/wk FY24 budget ($10,000) * 2 avg/mo = $634 (delivery) + $430 (supply)* 40% $3/sq ft /inspections/hvac/alarms 1 additional simulator Account Comp/Fringe Outside Services Supplies Transfer Out - Reserve Natural Gas Electricity Electricity (solar reduction) Water/Wastewater Grand Total Amount 24,630 15,500 21,000 10,000 10,000 10,672 (20,000) 6,000 77,802

Debt Service Option 3 New Facility Non-taxable 6,844,800 6,502,560 6,160,320 5,818,080 5,475,840 5,133,600 4,791,360 4,449,120 4,106,880 3,764,640 3,422,400 3,080,160 2,737,920 2,395,680 2,053,440 1,711,200 1,368,960 1,026,720 684,480 342,240 Principal 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 342,240 6,844,800 $ Interest Total Pmt 3.30% 225,878 214,584 203,291 191,997 180,703 169,409 158,115 146,821 135,527 124,233 112,939 101,645 90,351 79,057 67,764 56,470 45,176 33,882 22,588 11,294 2,371,723 $ 1 2027 2 2028 3 2029 4 2030 5 2031 6 2032 7 2033 8 2034 9 2035 10 2036 11 2037 12 2038 13 2039 14 2040 15 2041 16 2042 17 2043 18 2044 19 2045 20 2046 568,118 556,824 545,531 534,237 522,943 511,649 500,355 489,061 477,767 466,473 455,179 443,885 432,591 421,297 410,004 398,710 387,416 376,122 364,828 353,534 9,216,523 $ 8,054,800 (460,000) (500,000) (250,000) 6,844,800 Total project Previously bonded for design LWCF Estimate Donations 568,118 Total year 1 payment -115,000 Golf Fund portion 453,118 General Fund Portion 0.86% Impact on Tax Rate 9.84 Tax Rate 350,000.00 Property Value $29.73 Impact on Property Tax 0 Total

20 Year Proforma Option 3 New Facility FY24 Estimate Budget Projected Projected Projected Projected Projected Projected Projected Projected Projected 33,500 37,150 37,890 38,270 39,040 39,820 40,620 41,430 42,260 43,110 396,000 468,155 391,880 411,470 432,040 453,640 476,320 490,610 505,330 520,490 536,100 581,783 604,498 655,680 681,910 709,190 737,560 767,060 782,400 798,050 814,010 830,290 68,005 68,005 69,370 70,760 72,180 73,620 75,090 76,590 78,120 79,680 288,000 256,970 268,530 315,460 328,080 341,200 354,850 360,170 406,170 412,260 418,440 16,000 15,000 15,450 15,600 15,760 15,920 16,080 16,240 16,400 16,560 120,000 93,649 126,680 129,210 131,790 134,430 137,120 141,230 145,470 149,830 154,320 82,000 88,125 89,890 91,690 93,520 95,390 97,300 99,250 101,240 103,260 105,330 20,000 20,000 25,000 22,500 22,500 22,500 22,500 10,000 10,000 10,000 225,000 175,500 182,520 186,170 189,890 193,690 197,560 201,510 205,540 209,650 213,840 50,000 52,000 40,000 40,000 41,600 43,260 44,990 46,790 48,660 50,610 - - - - - - - - - - - - - - - - - - - - 3,330 2,660 - - - - - - - - - - - - - - - - - - 19,500 24,000 24,000 24,240 24,720 25,210 25,710 26,220 26,740 27,270 50,000 51,500 53,050 54,640 56,280 57,970 35,000 35,000 35,700 36,410 37,140 37,880 38,640 1,903,118 1,905,712 1,926,890 2,062,280 2,185,310 2,263,440 2,344,660 2,384,220 2,478,140 2,533,340 2,589,860 FY24 Budget 27,100 362,705 605,426 51,180 249,900 13,650 83,965 90,000 249,000 50,000 22,750 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 FY35 Projected 552,180 846,900 424,720 158,950 107,440 218,120 2,647,780 FY36 Projected 568,750 863,840 431,090 163,720 109,590 222,480 2,707,080 FY37 Projected 585,810 881,120 478,160 168,630 111,780 226,930 2,808,400 FY38 Projected 603,380 898,740 485,330 173,690 114,020 231,470 2,871,190 FY39 Projected 621,480 916,710 492,610 178,900 116,300 236,100 2,935,470 FY40 Projected 640,120 935,040 500,000 184,270 118,630 240,820 3,001,310 FY41 Projected 659,320 953,740 507,500 189,800 121,000 245,640 3,068,750 FY42 Projected 679,100 972,810 515,110 195,490 123,420 250,550 3,137,810 FY43 Projected 699,470 992,270 522,840 201,350 125,890 255,560 3,208,540 FY44 Projected 720,450 1,012,120 530,680 207,390 128,410 260,670 3,281,000 FY45 Projected 742,060 1,032,360 101,050 538,640 213,610 130,980 265,880 3,355,210 FY46 Projected 764,320 1,053,010 103,070 546,720 220,020 133,600 271,200 3,431,240 FY47 Projected 787,250 1,074,070 105,130 554,920 226,620 136,270 276,620 3,509,120 Revenues: Camps 43,970 44,850 45,750 46,670 47,600 48,550 49,520 50,510 51,520 52,550 53,600 54,670 55,760 56,880 Seasonal Passes Daily Fees League and Tournament Fee 81,270 82,900 84,560 86,250 87,980 89,740 91,530 93,360 95,230 97,130 99,070 Cart Rental Handicapping Driving Range 16,730 16,900 17,070 17,240 17,410 17,580 17,760 17,940 18,120 18,300 18,480 18,660 18,850 19,040 Golf Simulator Revenue Investment Income Pro Shop Sales Concession Sales 7,500 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 52,630 54,740 56,930 59,210 61,580 64,040 66,600 69,260 72,030 74,910 77,910 81,030 84,270 87,640 Advertising - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Transfer In - General Other Revenue Use of Fund Balance Rental Income Restaurant Rent - additional Simulator Revenue - additional Total Revenues 2,000 - 27,820 59,710 39,410 28,380 61,500 40,200 28,950 63,350 41,000 29,530 65,250 41,820 30,120 67,210 42,660 30,720 69,230 43,510 31,330 71,310 44,380 31,960 73,450 45,270 32,600 75,650 46,180 33,250 77,920 47,100 33,920 80,260 48,040 34,600 82,670 49,000 35,290 85,150 49,980 36,000 87,700 50,980 1,815,176 Expenses: O&M Expenses Transfer Out - General 1,594,028 120,698 1,519,712 120,698 1,555,413 132,634 1,617,630 132,630 1,690,430 137,270 115,000 4,170 24,630 15,500 21,000 10,000 10,000 10,672 (20,000) 6,000 1,758,050 137,270 115,000 4,170 25,370 15,970 21,630 10,000 10,300 10,990 (20,600) 6,180 1,819,580 142,070 115,000 4,320 26,130 16,450 22,280 10,000 10,610 11,320 (21,220) 6,370 1,855,970 144,910 115,000 (21,860) 1,893,090 147,810 115,000 (22,520) 1,930,950 150,770 115,000 (23,200) 1,969,570 153,790 115,000 (23,900) 2,008,960 156,870 115,000 (24,620) 2,049,140 160,010 115,000 (25,360) 2,090,120 163,210 115,000 (26,120) 2,131,920 166,470 115,000 (26,900) 2,174,560 169,800 115,000 (27,710) 2,218,050 173,200 115,000 (28,540) 2,262,410 176,660 115,000 (29,400) 2,307,660 180,190 115,000 (30,280) 2,353,810 183,790 115,000 (31,190) 2,400,890 187,470 115,000 (32,130) 2,448,910 191,220 115,000 (33,090) 2,497,890 195,040 115,000 (34,080) 10,230 2,547,850 198,940 115,000 (35,100) 10,540 2,598,810 202,920 115,000 (36,150) 10,860 Transfer Out - Clubhouse debt service Transfer Out Comp/Fringe Outside Services 3,000 3,000 3,840 4,030 4,410 26,910 16,940 22,950 10,000 10,930 11,660 4,500 27,720 17,450 23,640 10,000 11,260 12,010 4,590 28,550 17,970 24,350 10,000 11,600 12,370 4,680 29,410 18,510 25,080 10,000 11,950 12,740 4,770 30,290 19,070 25,830 10,000 12,310 13,120 4,870 31,200 19,640 26,600 10,000 12,680 13,510 4,970 32,140 20,230 27,400 10,000 13,060 13,920 5,070 33,100 20,840 28,220 10,000 13,450 14,340 5,170 34,090 21,470 29,070 10,000 13,850 14,770 5,270 35,110 22,110 29,940 10,000 14,270 15,210 5,380 36,160 22,770 30,840 10,000 14,700 15,670 5,490 37,240 23,450 31,770 10,000 15,140 16,140 5,600 38,360 24,150 32,720 10,000 15,590 16,620 5,710 39,510 24,870 33,700 10,000 16,060 17,120 5,820 40,700 25,620 34,710 10,000 16,540 17,630 5,940 41,920 26,390 35,750 10,000 17,040 18,160 6,060 43,180 27,180 36,820 10,000 17,550 18,700 6,180 44,480 28,000 37,920 10,000 18,080 19,260 Supplies Transfer Out - Reserve Natural Gas Electricity Electricity (solar reduction) Water/Wastewater Authorized Unissued Debt Informational Bonded CIP Program 6,560 6,760 6,960 7,170 7,390 7,610 7,840 8,080 8,320 8,570 8,830 9,090 9,360 9,640 9,930 150,000 1,100,000 360,000 160,000 135,000 120,000 185,000 225,000 185,000 265,000 - - - - - - - - - - - - - Debt Service: Future Debt Service Estimate Existing Debt Service Schedule Total Expenses 12,750 90,600 1,857,640 124,321 71,100 2,220,093 158,092 53,700 2,306,122 170,689 36,400 2,369,999 180,372 33,900 2,418,652 188,214 22,400 2,457,334 202,385 16,400 2,508,695 220,191 9,700 2,563,891 233,405 5,250 2,617,645 2,679,221 254,321 2,719,447 247,677 2,760,623 241,033 2,802,778 234,388 2,845,934 227,744 2,890,120 221,100 2,935,346 214,456 2,908,288 134,478 2,934,241 106,401 2,975,487 92,497 3,019,913 80,633 3,059,303 62,583 3,103,603 48,243 96,450 1,814,176 96,450 1,739,860 90,170 1,782,057 - - - - - - - - - - - - - Projected Net 1,000 163,258 123,655 69,250 (157,813) (120,812) (106,559) (73,992) (73,114) (30,555) (30,551) (27,785) (31,441) (12,367) 47,778 68,412 89,536 111,190 133,404 229,522 274,299 305,513 335,298 371,937 405,517 Fund Position: Adjusted Beginning Working Capital Ending Working Capital 736,981 737,981 181,400 362,835 736,981 900,239 174,000 347,972 900,239 1,023,894 178,200 356,411 1,023,894 1,093,144 185,800 371,528 1,093,144 935,331 222,000 444,019 935,331 814,519 230,600 461,224 814,519 707,960 237,000 474,000 707,960 633,969 241,900 483,730 633,969 560,854 245,700 491,467 560,854 530,299 250,900 501,739 530,299 499,749 256,400 512,778 499,749 471,964 261,800 523,529 471,964 440,523 267,900 535,844 440,523 428,156 271,900 543,889 428,156 475,934 276,100 552,125 475,934 544,345 280,300 560,556 544,345 633,881 284,600 569,187 633,881 745,071 289,000 578,024 745,071 878,475 293,500 587,069 878,475 1,107,997 290,800 581,658 1,107,997 1,382,296 293,400 586,848 1,382,296 1,687,809 297,500 595,097 1,687,809 2,023,107 302,000 603,983 2,023,107 2,395,044 305,900 611,861 2,395,044 2,800,560 310,400 620,721 10% of expenses 20% of expenses

Proforma Option 3 - Through 2031 FY24 Budget 27,100 362,705 605,426 51,180 249,900 13,650 83,965 90,000 249,000 50,000 22,750 FY24 Estimate 33,500 396,000 581,783 68,005 288,000 16,000 120,000 82,000 20,000 225,000 50,000 3,330 19,500 FY25 Budget 37,150 468,155 604,498 68,005 256,970 15,000 93,649 88,125 20,000 175,500 52,000 2,660 24,000 FY26 Projected 37,890 391,880 655,680 69,370 268,530 15,450 126,680 89,890 25,000 182,520 40,000 24,000 FY27 Projected 38,270 411,470 681,910 70,760 315,460 15,600 129,210 91,690 22,500 186,170 40,000 24,240 FY28 Projected 39,040 432,040 709,190 72,180 328,080 15,760 131,790 93,520 22,500 189,890 41,600 24,720 50,000 35,000 2,185,310 FY29 Projected 39,820 453,640 737,560 73,620 341,200 15,920 134,430 95,390 22,500 193,690 43,260 25,210 51,500 35,700 2,263,440 FY30 Projected 476,320 767,060 354,850 137,120 197,560 2,344,660 FY31 Projected 490,610 782,400 360,170 141,230 201,510 2,384,220 Revenues: Camps 40,620 41,430 Seasonal Passes Daily Fees League and Tournament Fee 75,090 76,590 Cart Rental Handicapping Driving Range 16,080 16,240 Golf Simulator Revenue Investment Income Pro Shop Sales Concession Sales 97,300 22,500 99,250 10,000 7,500 44,990 46,790 Advertising - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Transfer In - General Other Revenue Use of Fund Balance Rental Income Restaurant Rent - additional Simulator Revenue - additional Total Revenues 2,000 - - - 25,710 53,050 36,410 26,220 54,640 37,140 35,000 2,062,280 1,815,176 1,903,118 1,905,712 1,926,890 Expenses: O&M Expenses Transfer Out - General 1,594,028 120,698 1,519,712 120,698 1,555,413 132,634 1,617,630 132,630 1,690,430 137,270 115,000 4,170 24,630 15,500 21,000 10,000 10,000 10,672 (20,000) 6,000 1,758,050 137,270 115,000 4,170 25,370 15,970 21,630 10,000 10,300 10,990 (20,600) 6,180 1,819,580 142,070 115,000 4,320 26,130 16,450 22,280 10,000 10,610 11,320 (21,220) 6,370 1,855,970 144,910 115,000 (21,860) 1,893,090 147,810 115,000 (22,520) Transfer Out - Clubhouse debt service Transfer Out Comp/Fringe Outside Services 3,000 3,000 3,840 4,030 4,410 26,910 16,940 22,950 10,000 10,930 11,660 4,500 27,720 17,450 23,640 10,000 11,260 12,010 Supplies Transfer Out - Reserve Natural Gas Electricity Electricity (solar reduction) Water/Wastewater Authorized Unissued Debt Informational Bonded CIP Program 6,560 6,760 150,000 1,100,000 360,000 160,000 135,000 120,000 185,000 Debt Service: Future Debt Service Estimate Existing Debt Service Schedule Total Expenses 12,750 90,600 1,857,640 124,321 71,100 2,220,093 158,092 53,700 2,306,122 170,689 36,400 2,369,999 180,372 33,900 2,418,652 188,214 22,400 2,457,334 96,450 1,814,176 96,450 1,739,860 90,170 1,782,057 Projected Net 1,000 163,258 123,655 69,250 (157,813) (120,812) (106,559) (73,992) (73,114) Fund Position: Adjusted Beginning Working Capital Ending Working Capital 736,981 737,981 181,400 362,835 736,981 900,239 174,000 347,972 900,239 1,023,894 178,200 356,411 1,023,894 1,093,144 185,800 371,528 1,093,144 935,331 222,000 444,019 935,331 814,519 230,600 461,224 814,519 707,960 237,000 474,000 707,960 633,969 241,900 483,730 633,969 560,854 245,700 491,467 10% of expenses 20% of expenses

New Expenses Option 1 Renovate Existing Facility Account Outside Services Comp/Fringe Natural Gas Natural Gas Electricity (solar reduction) Water/Wastewater Supplies Outside Services Transfer Out - Reserve Description Window washing Cleaning staff (1 ppt) Natural Gas (new building) Natural Gas (existing budget) Solar (reduction) Water/Wastewater Janitorial Repairs/maintenance Clubhouse Maintenance Reserve 2027 2,000.00 24,630.32 (2,000.00) (5,000.00) 2,000.00 9,000.00 15,000.00 10,000.00 1 @ $22.00/hr @ 20 hrs/wk - greater efficiency $3/sq ft /inspections/hvac/alarms Account Comp/Fringe Outside Services Supplies Transfer Out - Reserve Natural Gas Electricity (solar reduction) Water/Wastewater Grand Total Amount 24,630 17,000 9,000 10,000 (2,000) (5,000) 2,000 55,630

Debt Service Option 1 Renovate Existing Facility Revised Non-taxable Principal Interest Total Pmt 4,417,010 220,851 3.30% 1 2027 4,196,160 220,851 145,761 366,612 2 2028 3,975,309 220,851 138,473 359,324 3 2029 3,754,459 220,851 131,185 352,036 4 2030 3,533,608 220,851 123,897 344,748 5 2031 3,312,758 220,851 116,609 337,460 6 2032 3,091,907 220,851 109,321 330,171 7 2033 2,871,057 220,851 102,033 322,883 8 2034 2,650,206 220,851 94,745 315,595 9 2035 2,429,356 220,851 87,457 308,307 10 2036 2,208,505 220,851 80,169 301,019 11 2037 1,987,655 220,851 72,881 293,731 12 2038 1,766,804 220,851 65,593 286,443 13 2039 1,545,954 220,851 58,305 279,155 14 2040 1,325,103 220,851 51,016 271,867 15 2041 1,104,253 220,851 43,728 264,579 16 2042 883,402 220,851 36,440 257,291 17 2043 662,552 220,851 29,152 250,003 18 2044 441,701 220,851 21,864 242,715 19 2045 220,851 220,851 14,576 235,427 20 2046 0 220,851 7,288 228,139 Total 4,417,010 $ 1,530,494 $ 5,947,504 $ 5,427,010 (460,000) (500,000) (50,000) 4,417,010 Total project Previously bonded for design LWCF Estimate Donations 366,612 (80,000) 286,612 Total year 1 payment Golf Fund portion General Fund portion 0.55% Impact on Tax Rate 9.84 Tax Rate 350,000.00 Property Value $18.80 Impact on Property Tax

20 Year Proforma Option 1 Renovate Existing Facility Golf Proforma Option 1 $5,427,010 Renovation Revised FY24 Budget Estimate Budget Projected Projected Projected Projected Projected Projected Projected Projected Camps 27,100 33,500 37,150 37,890 38,270 39,040 39,820 40,620 41,430 42,260 43,110 Seasonal Passes 362,705 396,000 468,155 391,880 411,470 432,040 453,640 476,320 490,610 505,330 520,490 Daily Fees 605,426 581,783 604,498 655,680 681,910 709,190 737,560 767,060 782,400 798,050 814,010 League and Tournament Fee 51,180 68,005 68,005 69,370 70,760 72,180 73,620 75,090 76,590 78,120 79,680 Cart Rental 249,900 288,000 256,970 268,530 315,460 328,080 341,200 354,850 360,170 406,170 412,260 Handicapping 13,650 16,000 15,000 15,450 15,600 15,760 15,920 16,080 16,240 16,400 16,560 Driving Range 83,965 120,000 93,649 126,680 129,210 131,790 134,430 137,120 141,230 145,470 149,830 Golf Simulator Revenue 90,000 82,000 88,125 - 91,690 93,520 95,390 97,300 99,250 101,240 103,260 Investment Income 7,500 20,000 20,000 25,000 22,500 22,500 22,500 22,500 10,000 10,000 10,000 Pro Shop Sales 249,000 225,000 175,500 182,520 186,170 189,890 193,690 197,560 201,510 205,540 209,650 Concession Sales 50,000 50,000 52,000 - 40,000 41,600 43,260 44,990 46,790 48,660 50,610 Advertising - - - - - - - - - - - Transfer In - General - - - - - - - - - - - Other Revenue 2,000 3,330 2,660 - - - - - - - - Use of Fund Balance - - - - - - - - - - - Rental Income 22,750 19,500 24,000 24,000 24,240 24,720 25,210 25,710 26,220 26,740 27,270 Restaurant Rent - additional - - - - - - - Simulator Revenue - additional - - - - - - - Total Revenues 1,815,176 1,903,118 1,905,712 1,797,000 2,027,280 2,100,310 2,176,240 2,255,200 2,292,440 2,383,980 2,436,730 Expenses: O&M Expenses 1,594,028 1,519,712 1,555,413 1,617,630 1,690,430 1,758,050 1,819,580 1,855,970 1,893,090 1,930,950 1,969,570 Transfer Out - General 120,698 120,698 132,634 132,630 137,270 137,270 142,070 144,910 147,810 150,770 153,790 Transfer Out - Clubhouse debt service 80,000 80,000 80,000 80,000 80,000 80,000 80,000 Transfer Out 3,000 3,000 3,840 4,030 4,170 4,170 4,320 4,410 4,500 4,590 4,680 Comp/Fringe 24,630 25,370 26,130 26,910 27,720 28,550 29,410 Outside Services 17,000 17,510 18,040 18,580 19,140 19,710 20,300 Supplies 9,000 9,270 9,550 9,840 10,140 10,440 10,750 Transfer Out - Reserve 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Natural Gas (2,000) (2,060) (2,120) (2,180) (2,250) (2,320) (2,390) Electricity (solar reduction) (5,000) (5,150) (5,300) (5,460) (5,620) (5,790) (5,960) Water/Wastewater 2,000 2,060 2,120 2,180 2,250 2,320 2,390 Authorized Unissued Debt Informational Bonded CIP Program 150,000 1,100,000 360,000 160,000 135,000 120,000 185,000 225,000 185,000 Debt Service: Future Debt Service Estimate 12,750 124,321 158,092 170,689 180,372 188,214 202,385 220,191 Existing Debt Service Schedule 96,450 96,450 90,170 90,600 71,100 53,700 36,400 33,900 22,400 16,400 9,700 Total Expenses 1,814,176 1,739,860 1,782,057 1,857,640 2,162,921 2,248,282 2,311,479 2,359,432 2,397,394 2,448,005 2,502,431 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY34 Projected FY35 Projected 552,180 846,900 424,720 158,950 107,440 218,120 2,546,080 FY36 Projected 568,750 863,840 431,090 163,720 109,590 222,480 2,602,730 FY37 Projected 585,810 881,120 478,160 168,630 111,780 226,930 2,701,330 FY38 Projected 603,380 898,740 485,330 173,690 114,020 231,470 2,761,320 FY39 Projected 621,480 916,710 492,610 178,900 116,300 236,100 2,822,730 FY40 Projected 640,120 935,040 500,000 184,270 118,630 240,820 2,885,620 FY41 Projected 659,320 953,740 507,500 189,800 121,000 245,640 2,950,030 FY42 Projected 679,100 972,810 515,110 195,490 123,420 250,550 3,015,980 FY43 Projected 699,470 992,270 522,840 201,350 125,890 255,560 3,083,520 FY44 Projected 720,450 1,012,120 530,680 207,390 128,410 260,670 3,152,700 FY45 Projected 742,060 1,032,360 101,050 538,640 213,610 130,980 265,880 3,223,540 FY46 Projected 764,320 1,053,010 103,070 546,720 220,020 133,600 271,200 3,296,110 FY47 Projected 787,250 1,074,070 105,130 554,920 226,620 136,270 276,620 3,370,440 Revenues: 43,970 536,100 830,290 81,270 418,440 16,730 154,320 105,330 10,000 213,840 52,630 44,850 45,750 46,670 47,600 48,550 49,520 50,510 51,520 52,550 53,600 54,670 55,760 56,880 82,900 84,560 86,250 87,980 89,740 91,530 93,360 95,230 97,130 99,070 16,900 17,070 17,240 17,410 17,580 17,760 17,940 18,120 18,300 18,480 18,660 18,850 19,040 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 54,740 56,930 59,210 61,580 64,040 66,600 69,260 72,030 74,910 77,910 81,030 84,270 87,640 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 27,820 28,380 28,950 29,530 30,120 30,720 31,330 31,960 32,600 33,250 33,920 34,600 35,290 36,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,490,740 2,008,960 156,870 80,000 4,770 30,290 20,910 11,070 10,000 (2,460) (6,140) 2,460 2,049,140 160,010 2,090,120 163,210 2,131,920 166,470 2,174,560 169,800 2,218,050 173,200 2,262,410 176,660 2,307,660 180,190 2,353,810 183,790 2,400,890 187,470 2,448,910 191,220 2,497,890 195,040 2,547,850 198,940 2,598,810 202,920 80,000 4,870 31,200 21,540 11,400 10,000 (2,530) (6,320) 2,530 80,000 4,970 32,140 22,190 11,740 10,000 (2,610) (6,510) 2,610 80,000 5,070 33,100 22,860 12,090 10,000 (2,690) (6,710) 2,690 80,000 5,170 34,090 23,550 12,450 10,000 (2,770) (6,910) 2,770 80,000 5,270 35,110 24,260 12,820 10,000 (2,850) (7,120) 2,850 80,000 5,380 36,160 24,990 13,200 10,000 (2,940) (7,330) 2,940 80,000 5,490 37,240 25,740 13,600 10,000 (3,030) (7,550) 3,030 80,000 5,600 38,360 26,510 14,010 10,000 (3,120) (7,780) 3,120 80,000 5,710 39,510 27,310 14,430 10,000 (3,210) (8,010) 3,210 80,000 5,820 40,700 28,130 14,860 10,000 (3,310) (8,250) 3,310 80,000 5,940 41,920 28,970 15,310 10,000 (3,410) (8,500) 3,410 80,000 6,060 43,180 29,840 15,770 10,000 (3,510) (8,760) 3,510 80,000 6,180 44,480 30,740 16,240 10,000 (3,620) (9,020) 3,620 265,000 - - - - - - - - - - - - - 233,405 5,250 2,555,385 2,616,161 254,321 2,655,537 247,677 2,695,833 241,033 2,737,098 234,388 2,779,334 227,744 2,822,570 221,100 2,866,826 214,456 2,838,778 134,478 2,863,711 106,401 2,903,887 92,497 2,947,203 80,633 2,985,463 62,583 3,028,593 48,243 - - - - - - - - - - - - - Projected Net 1,000 163,258 123,655 (60,640) (135,641) (147,972) (135,239) (104,232) (104,954) (64,025) (65,701) (64,645) (70,081) (52,807) 5,498 24,222 43,396 63,050 83,204 177,202 219,809 248,813 276,338 310,647 341,847 Fund Position: Adjusted Beginning Working Capital Ending Working Capital 736,981 737,981 181,400 362,835 736,981 900,239 174,000 347,972 900,239 1,023,894 178,200 356,411 1,023,894 963,254 185,800 371,528 963,254 827,613 216,300 432,584 827,613 679,641 224,800 449,656 679,641 544,402 231,100 462,296 544,402 440,171 235,900 471,886 440,171 335,216 239,700 479,479 335,216 271,191 244,800 489,601 271,191 205,491 250,200 500,486 205,491 140,846 255,500 511,077 140,846 70,765 261,600 523,232 70,765 17,958 265,600 531,107 17,958 23,456 269,600 539,167 23,456 47,677 273,700 547,420 47,677 91,073 277,900 555,867 91,073 154,123 282,300 564,514 154,123 237,327 286,700 573,365 237,327 414,529 283,900 567,756 414,529 634,338 286,400 572,742 634,338 883,151 290,400 580,777 883,151 1,159,489 294,700 589,441 1,159,489 1,470,136 298,500 597,093 1,470,136 1,811,982 302,900 605,719 10% of expenses 20% of expenses

Proforma Option 1 Through 2031 Golf Proforma Option 1 $5,427,010 Renovation Revised FY24 Budget 27,100 362,705 605,426 51,180 249,900 13,650 83,965 90,000 249,000 50,000 22,750 FY24 Estimate 33,500 396,000 581,783 68,005 288,000 16,000 120,000 82,000 20,000 225,000 50,000 3,330 19,500 FY25 Budget 37,150 468,155 604,498 68,005 256,970 15,000 93,649 88,125 20,000 175,500 52,000 2,660 24,000 FY26 Projected 37,890 391,880 655,680 69,370 268,530 15,450 126,680 25,000 182,520 24,000 FY27 Projected 38,270 411,470 681,910 70,760 315,460 15,600 129,210 91,690 22,500 186,170 40,000 24,240 2,027,280 FY28 Projected 39,040 432,040 709,190 72,180 328,080 15,760 131,790 93,520 22,500 189,890 41,600 24,720 2,100,310 FY29 Projected 39,820 453,640 737,560 73,620 341,200 15,920 134,430 95,390 22,500 193,690 43,260 25,210 2,176,240 FY30 Projected 476,320 767,060 354,850 137,120 197,560 2,255,200 FY31 Projected 490,610 782,400 360,170 141,230 201,510 2,292,440 Revenues: Camps 40,620 41,430 Seasonal Passes Daily Fees League and Tournament Fee 75,090 76,590 Cart Rental Handicapping Driving Range 16,080 16,240 Golf Simulator Revenue Investment Income Pro Shop Sales Concession Sales - 97,300 22,500 99,250 10,000 7,500 - - - - - 44,990 46,790 Advertising - - - - - - - - - - - - - - - - - - - - - - - - - - Transfer In - General Other Revenue Use of Fund Balance Rental Income Restaurant Rent - additional Simulator Revenue - additional Total Revenues 2,000 - - - 25,710 26,220 - - - - - - - - - - 1,815,176 1,903,118 1,905,712 1,797,000 Expenses: O&M Expenses Transfer Out - General 1,594,028 120,698 1,519,712 120,698 1,555,413 132,634 1,617,630 132,630 1,690,430 137,270 80,000 4,170 24,630 17,000 9,000 10,000 (2,000) (5,000) 2,000 1,758,050 137,270 80,000 4,170 25,370 17,510 9,270 10,000 (2,060) (5,150) 2,060 1,819,580 142,070 80,000 4,320 26,130 18,040 9,550 10,000 (2,120) (5,300) 2,120 1,855,970 144,910 1,893,090 147,810 Transfer Out - Clubhouse debt service 80,000 4,410 26,910 18,580 9,840 10,000 (2,180) (5,460) 2,180 80,000 4,500 27,720 19,140 10,140 10,000 (2,250) (5,620) 2,250 Transfer Out Comp/Fringe Outside Services 3,000 3,000 3,840 4,030 Supplies Transfer Out - Reserve Natural Gas Electricity (solar reduction) Water/Wastewater Authorized Unissued Debt Informational Bonded CIP Program 150,000 1,100,000 360,000 160,000 135,000 120,000 185,000 Debt Service: Future Debt Service Estimate Existing Debt Service Schedule Total Expenses 12,750 90,600 1,857,640 124,321 71,100 2,162,921 158,092 53,700 2,248,282 170,689 36,400 2,311,479 180,372 33,900 2,359,432 188,214 22,400 2,397,394 96,450 1,814,176 96,450 1,739,860 90,170 1,782,057 Projected Net 1,000 163,258 123,655 (60,640) (135,641) (147,972) (135,239) (104,232) (104,954) Fund Position: Adjusted Beginning Working Capital Ending Working Capital 736,981 737,981 181,400 362,835 736,981 900,239 174,000 347,972 900,239 1,023,894 178,200 356,411 1,023,894 963,254 185,800 371,528 963,254 827,613 216,300 432,584 827,613 679,641 224,800 449,656 679,641 544,402 231,100 462,296 544,402 440,171 235,900 471,886 440,171 335,216 239,700 479,479 10% of expenses 20% of expenses

Questions Next Steps