A “second year in a row with record-setting revenues” and outstanding debt “still on tract to be completely paid off” by June 2030 are two key elements of the annual financial report for Yorba Linda’s city-owned Black Gold Golf Club viewed by the City Council earlier this month.
The report from club General Manager Rich Cessna noted the facility was voted best in the county by The Orange County Register readers for the first time in the club’s 23-year history, “a significant accomplishment,” he said, considering the competition from south county clubs.
Numbers from the most recently completed fiscal year showed about $9.5 million in revenue and $8.9 million in expenditures, which included payment toward some $2 million debt owed to the city treasury.
The $610,000 net profit, down from the $1 million declared in last year’s report because of investments in a new equipment fleet, still “was an overwhelming success,” Cessna stated.
Part of the profit, about $178,000, will go to replacing the irrigation lake pump, which was scheduled for the previous year, but didn’t get completed because of supply chain issues. And the remaining $432,000 will be placed in the club’s capital reserve fund.
Income from the club’s food and beverage department now accounts for 33% of Black Gold revenue, with income from Derrick’s Grille restaurant; weddings, events and banquets at the club; and weddings and events at the Yorba Linda Community Center all more than last year.
Last year’s record-setting rainfall did impact the number of rounds played, green fee revenue collected and driving range total revenues. While rounds played dropped 9%, from last year’s 64,716 to 58,872, green fee revenue dropped less than 1% to about $4.8 million.
Golf shop revenue jumped some $60,000 for the year, and the club’s first-ever month to exceed $1 million in total revenues occurred in June 2023.
Another key portion of Cessna’s report dealt with capital reserves and the need for several refurbishment projects for a facility nearing its 25th anniversary. Adding the $432,000 profit portion from the recent fiscal year to capital reserves increased that fund to $944,000.
Cessna noted Black Gold “will require significant repairs and upgrades in the future.” For example, the course irrigation system will need to be replaced in the next five to 10 years.
The work was previously estimated to cost about $1 million, but Cessna said a private country club recently replaced its irrigation system at a cost of more than $4 million.
Cessna cited other potential projects as “expansion and improvements to the restaurant patio and upgrades at the driving range to add ball flight trackers and lounge areas similar to those at top golf facilities.”
Near-term projects include repair of a sink hole near the lake, parking lot rehabilitation, solar canopy installation and purchase of an additional refrigeration unit, he said.
Jim Drummond is a longtime Yorba Linda resident. He gives his opinion on local issues weekly. Send e-mail to [email protected].