HomeMy WebLinkAboutNo. 2041 appropriating monies for the purpose of defraying expenses of certain local public improvements for fiscal year beginning 1/1/2004 ending 12/31/2004 including all outstanding claims/obligations fixing a time when the same shall take effectRESOLUTION NO. 2041
A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION APPROPRIATING
MONIES FOR THE PURPOSE OF DEFRAYING THE EXPENSES OF CERTAIN LOCAL
PUBLIC IMPROVEMENTS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 2004,
AND ENDING DECEMBER 31, 2004, 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 2004, 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, for the fiscal year 2004, 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, 2004, the above referenced appropriations are
made within the Blackthorn Golf Course Fund.
3. A hearing he appropriation 9 on pp opnation of funds as herein described is set for Friday, February 20,
2004 at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana
46601.
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, February 20, 2004, at 10:00 a.m., 1308 County -City Building, 227 West Jefferson Boulevard,
South Bend, Indiana 46601.
SOUTH BEND REDEVELOPMENT COMMISSION
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Robert W. Hunt, President
ATTEST:
Philip J. Fa e a, Secretary
2004 BLACKTHORN GOLF COURSE BUDGET
BEGINNING CASH BALANCE 1/1/04 $197,720
OPERATING REVENUE
Green Fees
713,764
Golf Carts
304,308
Membership
53,900
Driving Range
47,880
Other Golf
38,724
Instruction
12,000
Merchandise
199,134
Food and Beverage
259,849
Transfer of funds from TIF
200,000
TOTAL REVENUE 1,829,451
LESS: COST OF SALES
Instruction 0
Pro Shop 129,437
Food & Beverage 83,152
TOTAL COST OF SALES 212,589
TOTAL OPERATING REVENUE
LESS COST OF SALES 1,616,862
OPERATING EXPENSES
Pro Shop
(355,413)
Course Maintenance
(470,076)
Food & Beverage
(52,004)
Administration
(237,132)
Capital Purchases
(53,000)
TOTAL OPERATING EXPENSES
(1,167,625)
OPERATING INCOME 449,237
DEBT SERVICE
February 2004 (314,000)
August 2004 (323,500)
TOTAL DEBT SERVICE 63( 7,500)
ENDING CASH BALANCE 26,543