HomeMy WebLinkAboutNo. 2830 determining to appropriate monies for the purpose of defraying expenses of certain local public improvements for fiscal year beginning 1/1/11 and ending 12/31/11 including all outstanding claims/obligations, fixing time when same shall take effecA
A
RESOLUTION NO. 2830
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, 2011 AND ENDING DECEMBER 31, 2011 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 2011, 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 2011, 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, 2011, 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 Tuesday, February 8,
2011 at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601
ATTEST:
Li
Nancy N. King Secretary
Publish January 21, 2011
SOUTH BEND REDEVELOPMENT COMMISSION
Marcia I. Jpnes, President
Fund 619
Blackthorn Golf Course
Operations Budget
for Calendar Year 2011
Less Cost of Sales:
Golf Shop 152,850
Food & Beverage 87,296
Total Cost of Sales 240,146
Total Revenue less Cost of Sales 1,307,275
Operating Expenses:
Golf Course Maintenance 502,485
Golf Operations /Pro Shop 414,281
Concessions 65,451
Administration & Management 267,991
Late Fees 5,000
Total Operating Expenses 1,255,208
Net Operating Income 52,067
Capital Items & Debt Service:
Add:
Transfer of Funds from TIF 651,500
Less:
Capital Items 37,851
Debt Service 651,500
Change in Cash 14,215
f Period 174 216
Ending Cash @ End o e o $ ,
2011
Budget
Beginning Cash @ 1/1
$160,000
Revenue:
Rounds (28,312)
Greens Fees
687,279
Golf Cart Income
132,990
Membership/Tee Time Revenue
163,000
Driving Range Income
45,006
Other Income
66,248
Lesson Instruction
0
Golf Shop Sales
214,383
Food & Beverage Sales
238,514
Total Revenue
1,547,420
Less Cost of Sales:
Golf Shop 152,850
Food & Beverage 87,296
Total Cost of Sales 240,146
Total Revenue less Cost of Sales 1,307,275
Operating Expenses:
Golf Course Maintenance 502,485
Golf Operations /Pro Shop 414,281
Concessions 65,451
Administration & Management 267,991
Late Fees 5,000
Total Operating Expenses 1,255,208
Net Operating Income 52,067
Capital Items & Debt Service:
Add:
Transfer of Funds from TIF 651,500
Less:
Capital Items 37,851
Debt Service 651,500
Change in Cash 14,215
f Period 174 216
Ending Cash @ End o e o $ ,