Oxnard--The Finance & Governance Committee approved a Golf audit to be performed by Eadie & Payne during its Tuesday, June 13 meeting.
THE City of Oxnard owns the River Ridge Golf Club, which the Public Works Department supervises. The American Golf Corporation (AGC) currently manages the Golf Course under an agreement with the city, which expires on June 30, 2024.
Assistant Public Works Director Steve Howlett presented the item and said Golf operations have been profitable during AGC’s management tenure. For fiscal year 22-23, both Golf Courses project revenue of $5.9 million, with expenditures totaling $4.9 million.
“American Golf Corporation has been managing the Golf operations for four years, and the staff decided to audit the Golf operations per section 6.9 of the Golf Management Agreement,” he said. “This agreement states that the manager shall, if requested by the owner, hire an independent certified public accounting firm selected by the owner to audit the financial statements required under this agreement and all other records or written materials used by the Manager in generating the financial statements or performing the agreed-upon procedures requested by the owner.”
He said Golf operations will pay the fees associated with the audit, but if…
