Hey there, time traveller!
This article was published 21/1/2015 (2342 days ago), so information in it may no longer be current.
The financial picture for the City of Winnipeg’s civic golf courses is looking pretty good.
While golf services, an arm’s-length operating agency of the city, reported a loss of $923,000 in 2013, it’s expecting a profit of $981,000 in 2014.
Coun. Brian Mayes (St. Vital) said the change in financial status is a reflection of the bizarre accounting rules that, in the past, made golf services appear as if they were a money-losing venture.
An administrative report to executive policy committee, said much of the agency's profits are because it won’t have turn over $621,000 to city hall.
The golf services agency operates three courses — Kildonan Park, Crescent Drive and Windsor Park — and leases out seven golf courses to private operators and clubs. The John Blumberg and Harbour View courses are operated on a management contract.
Mayes said civic unions were blamed in 2013 for what appeared to be staggering losses at civic golf courses, adding the latest report shows the losses were the result of questionable accounting.
"We need to keep an eye on the golf courses but the losses aren’t as bad as they’ve been made out," Mayes said.