• It all begins with created an annual golf operating budget, budget detail, capital outlay and improvement budgets with great care.
• I soon became known by owners and salesmen for taking bids and working the numbers to save our company over $75,000 annually.
• What works for me is to build labor and operating budgets from scratch each year for the most accurate tracking of expenses, labor and overtime. I use a lot of detail when developing spreadsheets. See below.
• My budget comes in monthly, quarterly and annually well under budget without hurting any necessities. I manage overtime carefully and never jeopardize course conditions. I always meet our company’s goals!
•Chemicals and fertilizers need to be separately detailed. They are sizable areas of expense and need more detail. Every chemical, fungicide, herbicide, pre-emergent, wetting agent and more are listed alone. Dollars spent per item must be expensed during that month or the month when it’s payable, for more accuracy.
• I’ve use pre-paid inventories supplies purchased by our company. As you use the products, you expense them using a spreadsheet that has the purchase price, container or bag size. Each month you record your use, convert it to dollars, pay back the company and subtract from the prior months balance.
• What I’ve learned about leasing is that you can work the lease to your advantage. Put together a four-year program where you make only six payments in season when your income it good. Order your equipment January and take possession late winter so you won’t be waiting for it when you need it. The trade price for your old equipment will always low- balled. Network with other courses and used equipment companies to make more money and help them get a better deals by buying your equipment.
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