Cities and towns are finding they can save money -- and keep their greens out of the red -- by turning to private management, according to a new study from the Reason Public Policy Institute.

• Between 1987 and 1995, the number of municipalities with privatized golf courses increased 67 percent.

• Private management firms enjoy bulk purchasing discounts, flexible personnel policies and greater hands-on expertise.

• Private entrepreneurs have initiated such volume-building events as those for minority and disabled golfers.

• Chicago, for example, saw its $530,000 golf-course deficit turn into a $400,000 annual profit after it turned to private management.

Lisa Snell, the author of the study, recommends such policy innovations as competitive bidding, performance measures and incentives, and contract monitoring to ensure a smooth and successful transition process.

Source: Lisa Snell, "Getting Greens in the Black," Policy Study No. 260, August 1999, Reason Public Policy Institute, 3415 S. Sepulveda Boulevard, Suite 400, Los Angeles, Calif. 90034, (310) 391-2245.