Lakewood’s fiscal year 2024 audit is finally out – eleven months after the end of the fiscal year.
And it shows that RedTail lost money again.
And that’s before paying for the $XXX million loan for the new clubhouse.
The golf course has lost money for most of the years the Village has owned it, including five of the last seven years.
The original budget for fiscal 2024 was for the course to produce an operating surplus of $209,000.
The actual result was a loss of $282,000.
The number of rounds played declined for the third year in a row, a decrease of 2.1% versus a decrease of 4.6% in fiscal year 2023.
Figures for the first eight months of fiscal 2025 show RedTail losing $123,000 after backing out money paid for capital expenditures, which was probably paid for with borrowed money.
As the golf course has never made much money from January through April, RedTail will almost certainly show loss again this year. Year-to-Date the number of rounds is down 15% versus the same period last year.
There are events scheduled, as one can see on its Facebook page.
