Issuu

A message from the PRESIDENT/CEO

ERIC D. HART, CVE

I am pleased to present the recommended Operating and Capital Budget for fiscal year 2026. This budget was developed by staff and included a review by the City of Tampa finance staff and the Authority’s Finance Committee. As initiatives within the Authority’s strategic plan, management continues to place an emphasis on customer service, revenue generation and capital improvements at the courses, and this budget continues to reflect this philosophy.

The golf operations’ financial position has improved considerably during the past five fiscal years. This budget reflects this improved financial performance, as we are anticipating continued revenue strength in the coming fiscal year. The Authority conservatively anticipates generating a $253,000 profit in FY2025. This is due to a combination of factors including consistent course conditions, continued strong golf demand, new revenue producing assets, along with continued strong per capita revenue generation in rounds played, food and beverage and merchandise sales. This positive financial performance was impacted by damage caused by hurricanes Milton and Helene. All three courses suffered damage and revenue losses during and after the storms. The City of Tampa immediately provided financial assistance for damage repairs and overall cleanup costs at the courses.

This budget reflects our continued belief that the sustained demand and spending trends will continue through the fiscal year. We have worked with the City to utilize prior year(s) surplus generated funds to reinvest back into these community assets, which will be used for deferred maintenance items and further optimize revenue potential at the courses. During FY 2025, the Authority completed a greens renovation project at Babe Zaharias, major pump replacements and parking lot repairs at two of the courses and started a full interior renovation of the Rocky Point clubhouse. The opening of the short course and Toptracer improvements at Rogers Park, have provided extensive revenue growth that fueled the positive financial results for Rogers Park Golf Course.

For FY 2026, we are conservatively forecasting the Authority courses will operate at a $58,000 loss. We are not requesting any operating subsidy from the City of Tampa and will manage any actual losses, if they occur, using our established operating reserve funds.

Based upon the continued uncertainty with costs and the local labor availability, the golf management team continues to be tasked with finding new and creative ways to operate the courses and incorporate additional private sector practices into our operations.

Respectfully,

MISSION STATEMENT

To plan, develop, promote, and maintain a comprehensive complex of sports and recreation facilities for the use and enjoyment of the citizens of Tampa and Hillsborough County.

ABOUT

To stimulate economic vitality and improve the quality of life in Tampa Bay through compelling sports and entertainment offerings held at world-class venues. VISION

Providing Sports and Entertainment to Tampa Bay.

THE AUTHORITY

The Tampa Sports Authority is an Independent Special District, created by the Florida Legislature in 1965, to construct and manage sports and recreational facilities in Hillsborough County. The Authority’s role is to stimulate economic vitality and improve the quality of life in Tampa Bay through compelling sports and entertainment offerings held at world-class venues. The Authority has no taxing authority, but rather acts as an enterprise fund utilizing user-fees to subsidize its operating costs. As a result, all its major capital construction projects, from the original Tampa Stadium, golf courses, Hillsborough County Tournament SportsPlex, Benchmark International Arena, George M. Steinbrenner Field and Raymond James Stadium have been accomplished by working closely with the approvals and financial support of Hillsborough County and the City of Tampa.

Babe Zaharias, Rogers Park, and Rocky Point are municipal golf courses owned by the City of Tampa. The Authority has managed these courses since the mid-1970’s, with the expressed mission of maintaining reasonably low prices for the benefit of the golfing public. We have hosted approximately 110,000 golfers in FY 2025. The Rogers Park additions of the Short Course along with Toptracer Range, have made Rogers Park one of the premier municipal golf courses in the state. Provided within this report is a survey of rates from several local public courses that shows the Authority continues to offer some of the most competitive green fee rates in the region.

CHART ORGANIZATIONAL

Rocky Point Director of Golf Jim Hanks

Babe Zaharias

Rogers Park Sr. Director of Golf Travis J. Heidel

KRISTEN

BOARD OF TAMPA SPORTS

PATRICK MANTEIGA

CHAIR JOHN JAEB

BOCC APPOINTEE

TERM EXPIRES: 6/2029

HONORABLE KEN HAGAN

COUNTY COMISSIONER

TERM EXPIRES: 11/2025

CITY APPOINTEE

TERM EXPIRES: 6/2025

BOCC APPOINTEE

TERM EXPIRES: 6/2027

SECRETARY/TREASURER

BOCC APPOINTEE

TERM EXPIRES: 6/2027

CITY APPOINTEE

TERM EXPIRES: 6/2025

TONY MUNIZ

LUCIANO PRIDA, JR.

ANDY JOE SCAGLIONE

DIRECTORS AUTHORITY

C. DENNIS CARLTON, JR.

BOCC APPOINTEE

TERM EXPIRES: 6/2029

JOSEPH W. J. ROBINSON P.E.

CITY APPOINTEE

TERM EXPIRES: 6/2027

HONORABLE ALAN CLENDENIN

CITY COUNCILMAN

TERM EXPIRES: 5/2026

MARK S. WOODARD

CITY APPOINTEE

TERM EXPIRES: 6/2027

DON DEFOSSET

GOVERNOR’S APPOINTEE

TERM EXPIRES: 6/2025

ERIC D. HART, CVE PRESIDENT/CEO

CONTRACT TERM: 9/2029

STRATEGIC PLAN

As part of the Authority’s long range planning efforts, the strategic plan identifies strategic objectives that will drive planning for the Authority over our diverse inventory of current and possible future business lines. The initial objectives will be analyzed and possibly adjusted over the next year, based on input from the TSA Board and other stakeholders. This strategic plan is used as the main guiding document for the staff in managing the Authority’s business lines and help the Board and TSA leadership align behind long range strategic priorities.

Key Performance Indicators:

• Actionable strategic initiatives and key performance measures (KPIs)

• Staff uses a quarterly “scorecard” to summarize performance toward achieved KPIs for each business line.

STRATEGIC OBJECTIVES

• Diversify into and capitalize on new and profitable revenue sources

• Adopt proactive facility master planning while rapidly exploiting new or emerging sports and entertainment opportunities

• Create positive customer experiences

• Protect public assets while safeguarding our customers and their personally identifiable information

• Develop and maintain a diverse, innovative and engaged workforce

• Reduce reliance on County and City subsidy

• Build community support for the Tampa Sports Authority

• Expand our adoption of environmentally sustainable practices

TSA KPI SCORECARD

MARQUEE EVENTS

LADIES INVITATIONAL

The third annual Ladies Invitational was held at Babe Zaharias Golf Course on March 29, 2025. The event had 96 players participating and raised $3,100 for the charity Love4Paws.

CITY AMATEUR CHAMPIONSHIP

The 2025 City Amateur Championship was held on April 12th & 13th at Rogers Park Golf Course. The event had 53 players who contended over multiple flights. The winners were as follows:

Overall Champion: Devin Hernandez- 73-67 = 140

Senior Champion: Dave McQueen- 75-71 = 146

Super Senior Champion: Mike Murphy- 69-66 = 135

REQUESTS CONTRIBUTION

This year’s anticipated operating and maintenance expenses outlined in this document do not require an operating subsidy from the City of Tampa, as the Authority will fund any operating losses (if they occur) with our established budget stabilization reserve. The only contribution request being made to the City of Tampa for FY 2026 is for $600,000 to capital projects. The Authority has an existing interlocal agreement with the City of Tampa which states the City shall be responsible for any capital improvements or operating shortfalls realized by the courses.

REVENUE ASSUMPTIONS FOR FY 2026:

1) Total Operating Revenues for FY 2026 are budgeted at $6,801,940. This is $1,010,610 greater than the FY 2025 budget. During FY 2025, Operating Revenues are projected to be $830,457 better than budget. This is primarily due to the postponement of the Rogers Park greens renovation, the continued resurgence in golf coupled with the less price sensitivity of the new younger golf demographic. Also, the Top Tracer range at Rogers Park has performed substantially better than what was originally budgeted. Our overall performance to budget is especially notable considering the beginning of the fiscal year was impacted by two hurricanes.

2) Adverse weather revenue losses were incorporated throughout the budget in lieu of projecting a specific month where adverse weather will affect revenues. The past five years have produced near perfect weather conditions, with the exception of a short lived El Nino effect in 2024, and the hurricane impacts of the current fiscal year, therefore prior performance should cautiously be used as a point of comparison.

3) The use of dynamic pricing and the loyalty rewards program continue to show a positive impact on green fee revenues, which have in turn yielded an increase in food and beverage and merchandise revenues. We will continue to either reduce rates or increase rates during non-peak and peak timeframes to maximize revenues.

REQUESTS CONTRIBUTION

EXPENSE ASSUMPTIONS FOR FY 2026:

1) Total Expenses for FY 2026 are budgeted at $6,860,596. This is $817,552 greater than FY 2025 budget, to put in perspective revenues are budgeted to be 17.4% stronger, while expenses are budgeted to increase 13.5%. As referenced, the largest impact towards expenses when comparing FY 2026 to FY 2025, was that FY 2025 was budgeted assuming a greens renovation at Rogers Park, which has been postponed.

2) Budgeted full-time salary numbers include a 1.55% COLA increase, and additional (0-2%) merit increases for eligible employees.

3) Impact of 7.14% minimum wage increase is incorporated into the part-time labor budget and the budget was increased to support our Toptracer operations and the forecasted increase in revenues.

4) Health insurance premium costs increased 5%, to cover potential County rate increases and potential employee plan changes.

5) Increase in overall (non-health) insurance costs, as insurance coverages for the facilities were only slightly higher than what was originally budgeted, despite insurance market weakness for Florida insureds and course revenue strength. General liability premiums are based upon course revenues, therefore the increase in revenues yields an increase in premium, so overall it was a strong insurance renewal for the courses

6) A 3% increase in Retirement costs has been included based on the revised FRS contribution rates effective July 1, 2025.

BUDGET NOTES

1) Accrual Accounting: The Authority’s golf course budget is presented on an accrual basis. Monthly financial statements along with budget documents are presented on a full accrual basis of accounting.

2) Total City of Tampa Contribution: Contribution amount is a sum of present year operational profits/ (losses) and capital investments.

3) “Due to” Amounts: No “due to” amounts are present between the golf courses and Raymond James Stadium. “Due to’s” between the individual golf courses are present throughout the year but are reconciled quarterly and zero balanced at fiscal year-end.

4) Depreciation: Depreciation has been included in the Authority’s audited financial statements. The Authority has worked with the City Administration and Authority auditors to determine that depreciation expense for the course is better suited to be represented on the Authority’s annual financial audit. Depreciation is not included in any financial requests from the Authority to the City of Tampa since it is a non-cash occurrence within the financial statements. Depreciation will not be included in the monthly financial statement for ease of reading but will be included in the year end audited financial statements.

5) Salaries: Wages include full-time, part-time and over-time estimates and corresponding benefits such as social security, retirement and health insurance.

6) Capital Costs: Reimbursement for proposed capital costs is provided by the City of Tampa net of any operating surplus.

7) Income Tax: The Authority is a governmental agency and therefore exempt from federal and state income taxes under provisions of the Internal Revenue Code and the Florida income tax code, respectively. There are no provisions for income taxes in the budget.

BABE

ZAHARIAS ROCKY POINT

OPERATIONS & EXPENSES

ROGERS PARK TOTALS BY FISCAL YEAR

CAPITAL

PROJECTS

PARKING LOTS AT ROGERS PARK AND ROCKY POINT

The parking lots at both Rogers Park and Rocky Point were re-paved this year. The jobs included both the main lots and the areas around the clubhouses. New wheel stops were installed at both locations as well as new parking space paint striping.

ROCKY POINT CLUBHOUSE RENOVATION

The clubhouse at Rocky Point is undergoing a complete interior renovation which should be completed by November 2025. This includes new ceilings, flooring, an improved layout for the golf shop, bathroom upgrades including new fixtures and flooring, and a renovated grill experience.

SYNTHETIC TEE LINE AT ROGERS PARK

A new synthetic tee line was installed on the back of the grass range and new extension. The synthetic hitting surface will allow the course to alleviate the year-round pressure on our natural grass surface, and will help keep the range grass in top condition for our guests.

PROPOSED CAPITAL FY

2026

PROJECTS

PROPOSED CAPITAL PROJECTS FY-2026

*Project funding may be allocated between courses and projects or to contingency to adapt to unforeseen costs and emergencies.

IMPACT OF HURRICANES helene & milton

Hurricanes Helene and Milton were two of the most impactful storms for the west coast of Florida in the last one hundred years. Unlike past storms, the scope of impacts was much larger at the courses. From the historic storm surge that impacted the entire west coast, to flooding rainfall that caused new record water levels on area rivers, and some of the highest wind speeds recorded in the Tampa Bay Area, all in the span of two weeks.

Rocky Point Golf Course was the only course impacted by Helene’s storm surge, causing four feet of saltwater to cover the entire property. This surge destroyed the fleet of golf carts, irrigation boxes and the clubhouse HVAC system.

Within two weeks of Helene, Hurricane Milton caused additional damage to Rocky Point Golf Course. Major damage to the driving range and clubhouse exterior occurred, causing an extended closure of the course. Rocky Point remained closed for ten days, while the driving range remained closed for over one hundred days.

Additionally, Hurricane Milton impacted Rogers Park with significant tree damage, causing the main course to be closed for fifteen days and the short course for twenty-five days. Babe Zaharias suffered major tree damage and flooding. The course was closed for fifteen days.

While the closure had a significant impact on revenues, the loss of trees at all three courses is estimated at $500,000 for removal. The diligent work of our golf staff reopening all three courses, greatly reduced the negative financial impact on the operations.