impact on the city. The water park opened in 1995, and at that time, it was the first
municipal water park in Texas. The initial capital investment of $7.8 million was paid by
the Parks and Recreation Facilities Development Corporation half-cent sales tax. The
water park has added more than $15 million in improvements, all of which were funded
through NRH20 revenues. Since it's opening, the water park has paid more than $5.4
million to the city's general fund. There were only two years (2017 and 2020) when the
park did not cover their operating costs and monies from the general fund reserve will be
reimbursed by the Aquatic Fund. Ms. Hartman reviewed the long range plan for capital
projects proposed in Fiscal Years 2023/2024 and 2024/2025. Ms. Hartman shared that
the water park has employed 10,000 seasonal employees, during the last five seasons
(2016-2022) 35% - 40% of the seasonal team members were North Richland Hills
residents and of that percentage, 50% - 60% attended a school in the Birdville
Independent School District. The 2023 season has seen a number of rain days, but the
water park revenue in June and July were strong. Ms. Hartman explained that staff
prepares the revised budget in April, which was based off the 2022 year and before the
park opened. Due to the number of rain days in May and June, staff does not anticipate
the water park meeting the revised revenue projections. While it's not anticipated for the
water park to meet the revised revenues, the estimates will be close to the Fiscal Year
2022/2023 adopted revenues. In comparison to last year, revenues through July 9, 2023
were $2,847,897 and $3,859,734 for revenues through July 9, 2022. The attendance
through July 9, 2022 was 121,877 compared to 95,894 through July 9, 2023. The revised
revenue for the current year includes an increase of $628,231 and the revised
expenditures for the current year includes an increase of $513,997. The proposed
revenues for 2023/2024 is $6,155,626, which is a difference of $1,495,342 from
2022/2023 adopted budget. The proposed expenditures for 2023/2024 is $5,080,090,
which is a difference of $419,806 from the 2022/2023 adopted budget. The 2023/2024
proposed expenditures includes a debt payment of $63,505 and contribution to reserves
of $118,958.
Ms. Hartman provided an update on golf operations at Iron Horse. On April 1, 2022,
Kemper Sports Management took over management of the golf course. Staff continues
to work closely with Kemper Sports on development of a long-range plan to identify
maintenance and equipment needs to include the implementation of an equipment lease
and addressing turf issues with a long term solution. Staff anticipates a positive ending
balance in both the revised and proposed budgets. The golf course finished May ahead
of budget and ahead of last year's actual revenues. Kemper Sports implemented a
dynamic pricing model, increased tournament round and increased revenue per round to
include food and beverage revenue. The revised revenues for 2022/2023 is estimated at
$3,349,252 which is an increase of $4,192. The revised expenditures for 2022/2023 is
estimated at $3,349,253, which is an increase of $4,193. The fiscal year 2023/2024
proposed revenues is $3,383,193 and proposed expenditures is $3,304,635.
proposed budget reflects a positive balance of $78,558.
The