Revenues
Airfield 62,626
Airfield
Support 97,326
Terminal
Building 119,814
State aid -398
Misc 84,182
Total 363,470
Expenses
Salaries 451,116 (more then total revenues by almost $90,000)
Maintenance 293,336
Debt Service 332,249
Fringe 201,670
Total 1,278,371
6 Month Loss (914,901)
ORH is losing on average 152,483 per month.
Since 100% of the debt service (332,249) is the City of Worcester, we would pay 33% on the balance (914,901-332,249) or $250,403. In other words of the total 914,901 of debt incurred the first 6 months of this fiscal year, ORH cost Worcester 582,652 and MassPort 332,249.
3 comments:
Personnel expenses in total ( wages & bennies) arer almost double ORH's revenue stream.
We need more City enterprise accounts like this then we can just file bankruptcy and rid ourselves of all legacy costs. See Geo. Will today.
Kudos to City auditorfor picking up on excise tax shrtfalls.
City Auditor also pointed out that the Green Hill Enterprise account that is running around $100,000 loss per year pays debt service of about $75,000 per year for $800,000 of improvements that were done on the park (not the golf course). Amazes me all the attention that the Green Hill Golf Enterprise Account gets, while the Airport loses $150,000 per month.
Let us not forget how we marketed Green Hill G.C. to the middle aged golfers in our golfers catchment area
Last spring after a charity golf tournamnt Worc's Finest busted three 50 yr old men from Marlboro for having the audacity to toss down a couple of brews in the parking lot after the golf tournament.
Unfortunately, this is what happens when the parking lot is nearby the home of WPD brass.
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