Thursday, July 26, 2012

Encinitas Ranch Golf Course Bond Financials



Click Each to Enlarge

- Revenues down 21% in three years
- Has lost money every year since 2006
- General & Administrative expenses up while Maintenance and other expenses are down
- Net Assets down to $1.33 million as of June 2011 from $3.13 million just three years before

Can't wait to see 2012 financials!  Who would buy Encinitas Ranch Golf Authority bonds???

Burning Questions: What is going to change the profitability of the course?
Is Board President Bill Dean ever going to support competitive proposals for the operation of the course?
Too many skeltons in the closet?  Too many problems to be highlighted during the process? Too much work?

See Also: The developers were scared to death the course wouldn't make a profit.

4 comments:

  1. Tell 10 people today, DUMP STOCKS.

    He is a nightmare for Encinitas's financial future!

    His vision for Encinitas is to have it developed like Oceanside and Vista.

    Yuk!

    ReplyDelete
  2. Where does one get the "Dump Stocks" bumper stickers?

    ReplyDelete
  3. I know that some people stopped going to the Encinitas Ranch Golf Course when the fee for playing was raised. That was a poor financial decision.

    The course was built with land given to the city for "open space," through the Eckes when that part of our city incorporated into the rest? The course has been subsidized, and poorly managed. How many free games have Council Members played without reporting them on their financial disclosure statements?

    Seems as though EVERYONE should have to pay to play, if there's any hope of breaking even.

    ReplyDelete
  4. Help Encinitas Go for a Gold this November and DUMP STOCKS!

    ReplyDelete

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