HomeMy WebLinkAbout6.A10 Resolution No. 2628~ ~~~~)
RESOLUTION NO. 2628
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION DETERMINING
TO APPROPRIATE MONIES FOR THE PURPOSE OF DEFRAYING THE EXPENSES OF
CERTAIN LOCAL PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR BEGINNING
JANUARY 1, 2010 AND ENDING DECEMBER 31, 2010 INCLUDING ALL OUTSTANDING
CLAIMS AND OBLIGATIONS, FIXING A TIME WHEN THE SAME SHALL TAKE EFFECT
WHEREAS, the South Bend Redevelopment Commission is the lessee of certain local public
improvements which, during calendar year 2010, realize revenues and incur expenses in connection with the
operation and maintenance of the same; and
WHEREAS, the South Bend Redevelopment Commission has determined that it is necessary to
appropriate the revenues of certain public improvements in order to defray the expenses of those local public
improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE SOUTH BEND REDEVELOPMENT
COMMISSION AS FOLLOWS:
1. For the expenses of the Blackthorn Golf Course and its various divisions, for the fiscal year 2010, the sums
of money, as set forth in the budget which is made a part hereof, are hereby appropriated and ordered set apart out of
the funds hereinafter named, and for the purposes hereinafter specified, subject to the laws governing the same. The
sums herein appropriated shall be deemed to include all expenditures authorized to be made in said year, unless
otherwise expressly stipulated or provided by law.
2. For the fiscal year ending December 31, 2010, the above referenced appropriations are made within the
Blackthorn Golf Course Fund.
This resolution shall be in full force and effect from and after its adoption.
Adopted at the regular meeting of the South Bend Redevelopment Commission held Friday, January 15,
2010 at 10:00 a.m., 1308 County-City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601
SOUTH BEND REDEVELOPMENT COMMISSION
ATTEST:
Publish January 1, 2010
Fund 619
Blackthorn Golf Course
Operations Budget
for Calendar Year 2010
2010
Budget
Beginning Cash @ 1/1 $86,888
Revenue:
Rounds (24,850)
Greens Fees 671,271
Golf Cart Income 167,977
Membership/Tee Time Revenue 100,300
Driving Range Income 40,636
Other Income 55,893
Lesson Instruction 6,200
Golf Shop Sales 239,540
Food & Beverage Sales 275,258
Total Revenue 1,557,075
Less Cost of Sales:
Golf Shop 170,073
Food & Beverage 82,577
Total Cost of Sales 252,650
Total Revenue less Cost of Sales 1,304,425
Operating Expenses:
Golf Course Maintenance 497,604
Golf Operations/Pro Shop 389,222
Concessions 76,974
Administration & Management 273,041
Total Operating Expenses 1,236,841
Net Operating Income 67,584
Capital Items 8 Debt Service:
Add:
Transfer of Funds from TIF 652,500
Less:
Capital Items 29,000
Debt Service 652,500
Change in Cash 38,584
Ending Cash @ End of Period $125,472