Ken,
Don't forget course maintenance issues like soil compaction, grass killing, paying workers to set and move cart directing signs, etc.
The USGA has written that carts cost more than any club charges for them, but the typical member here says the USGA is full of hot air, because they know better.
I have to assume it's the same math most CC boards use to conclude that the Food and Beverage operation is supporting the golf course. It's been that way where I play for a long, long time.
They look at gross receipts, subtract food costs and labor for the kitchen and wait staff, and conclude that F&B is where you shold spen your money because it turns a profit.
Meanwhile the golf course budget is a river of red ink because not one dime of dues, guest fees, tournament fees, etc. ever show up as a line item.
EVERY club I have had intimate knowledge about over the last 35+years has come to the same conclusion--that expenditures on the clubhouse are great way to secure the club's future. And they have pretty much all gone broke doing so.
K