According to some data that I discovered, it appears the Squaw Valley Golf Course is losing business. 75% of the rounds played are from out of county residents but the in county residents paid through taxes for the reconstruction and the subsidy.

Rounds Played
2008 - 33558
2007 - 39453
2006 - 45550

Revenues/Expenses
2008
Green Fees Income - $437233
Golf Cart Rentals - $214044
Total Income - $651277
Total Expenses - $812217
County Subsidy - $161000
Remodel - $2,283,255 (this is above and beyond the subsidy)

2007
Green Fees Income - $664768
Golf Cart Rentals - $332909
Total Income - $997677
Total Expenses - $989023
County Subsidy - $0