Claremore Daily Progress

Government

June 26, 2013

Golf course financial future could be a bit over par

(Continued)

CLAREMORE —

During the past two monthly meetings, the trustees have discussed an interest in improving facilities and increasing revenues for the course.
The trust members have questioned the financial decline, which has been attributed directly to depreciation of assets and poor weather by Wilbur.
In 2011, the trust’s total operating revenue was $749,669 and expenses were $757,926 creating a net operating loss of $8,256, according to audit reports.
The 2010 operating revenue was $736,265 and expenses were $741,285. The 2012 audit reports scheduled to be reviewed Thursday, however it is not clear if the net operating loss trend will continue.
Another ongoing debate is ownership and beneficiary of the property. The golf course is listed as a trust of Rogers County, according to county records.
Formerly owned by Rogers State College Authority, the golf course was transferred to Rogers County in 1973. The trust instrument was amended in 1994, later prompting civil action against the Rogers State College Board of Regents in case CJ-97-203.
Currently, the trustees of the public facilities authority have requested Assistant District Attorney David Iski provide a legal opinion concerning the issue.
The board is trying to determine the correct beneficiary of the trust.
If the trust dissolves in the future or receives an offer for purchase, the beneficiary would receive any profit of that action.
The Claremore Daily Progress was unable to locate, with the assistance of the office of County Clerk Robin Anderson, recent financial records for the trust.
Wilbur maintains records for the trust at his office in the Golf Pro shop, where records were made available for public inspection.
Current trustees include David Merriman, Todd Willhoite, Jim Sullivan, Bill Scullawl, Gary Easley, Mike Ramsey, Mick Webber, Herb McSpadden, John Bivins, Terry Wessel, Phil Walker, Denny Kochheiser, Mary Marshall and Rick Tabor, according to documents filed with the clerk dated November 2012.

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