Killington golf course profits on the rise in 2013

By JOSH O’GORMAN STAFF WRITER

Rutland Herald

 

   ‍KILLINGTON — The Green Mountain National Golf Course is projected to turn a higher-than-expected profit this year.    A report released Monday by the town of Killing-ton shows the town-owned golf course is projected to generate a net profit of $52,609, slightly more than the $52,000 net profit projected in the 2013-14 town budget.    “The goal was to make the golf course self-sustaining when the debt is retired. The last two seasons demonstrate that the plan is working,” said Town Manager Seth Webb. “Course revenues are fully funding the operations and capital needs, and excess revenues are being used to help pay down debt.”    The town is projecting budget revenues of $1,202,850, and expenses    — both capital and operational — of $1,150,241.    David Soucy, general manager of the golf course, noted a number of new events as contributing factors to the golf course turning a profit.    “Through the successful recruitment of a number of new tournaments this year we were able to bring in previously untapped revenue while carefully controlling operating expenses,” Soucy said.    New events at the golf course this year included the Cairo Shriners Tournament, the General Electric Employees Tournament and the Table 24 Golf Tournament, a fundraiser benefiting the Carly Ferro Purple Angels Foundation.    The golf course was also the location of the Killing-ton Junior Golf Championship — hosted by the American Junior Golf Association — and the New England Amateur Championship. These sorts of out-of-state visits contributed an estimated $225,000 to the local economy, according to the report.    The net profit will be transferred into the town’s general fund and will be used for annual debt payments on the golf course. The 2014 debt payment will be $561,244.    In 1993, Sherburne voters approved a $5.5 million bond to purchase 230 acres of land and construct a golf course. josh.ogorman    @ rutlandherald.com  

Comment: The taxpayers are still on the hook for over a half million
(and that's just this year). It's getting pretty old seeing these fluff pieces on the golf course. If this was a normal business at least the interest on the debt payments would come out of reported net income never mind that their cash flow would be totally inadequate to meet its debt obligations. It is only because the taxpayers are footing the bill that the course can even remain open 
Vito