Eric,
I haven't seen too many budgets that had a lot of surplus built into them.
In many, if not most cases the superintendent prepares his budget for his Chairman, who usually pares it down, and subsequently submits it to the finance committee, who may pare it down, before going to the Board, who may pare it down further.
Sometimes it's easy to notice under budgeted golf courses.
And, in many cases, to compensate for a lack of funds, excess water is applied to camaflage the short comings in order to keep member unrest to a minimum.
That affects playing conditons too.
Remember, to most, green is beautiful.
I've also seen a good number of golf courses where the capital budget for the green committee is shockingly low.
And, the problem is, trying to play catch-up, because sooner or later, penny pinching is going to come back to haunt the golf course, and unfortunately, it's the superinetendent who's in the cross hairs instead of the club's leadership.
Since a budget is a guestimate, I'd prefer to be a little fat rather then a little thin in that department.