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HomeMy WebLinkAbout6C (12)Y G CAL) Community & Economic Development 9rM1�, 1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 To: Redevelopment Commission From: Staff — Elizabeth Leonard -Inks Subject: Resolution 2986 — Blackthorn Golf Course Date: December 13, 2011 Resolution 2986 is appropriating monies for the operations budget of Blackthorn Golf Course beginning January 1, 2012 and ending December 31, 2012. Also, for the setting and publication of a Public Hearing on January 24, 2011. Staff recommends approval. MEMO 2.doc What We Do Today Makm A Wftren©oi RESOLUTION NO. 2986 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, 2012 AND ENDING DECEMBER 31, 2012 INCLUDING ALL OUTSTANDING CLAIMS AND OBLIGATIONS, FIXING A TIME WHEN THE SAME SHALL TAKE EFFECT 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 2012, 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, 2012, the above referenced appropriations are made within the Blackthorn Golf Course Fund. 3. 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, January 24, 2012 at 4:00 p.m., 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601 SOUTH BEND REDEVELOPMENT COMMISSION ATTEST: Fund 619 Blackthorn Golf Course Operations Budget For Calendar Year 2012 2012 Budget Beginning Cash @ 1/1 61,532 Revenue: Rounds (28,605) Greens Fees 709,416 Golf Cart Income 82,653 Membership/Tee Time Revenue 186,709 Driving Range Income 45,448 Other Golf Income 59,804 Lesson Instruction 0 Golf Shop Sales - Merchandise 179,321 Food & Beverage Sales 250,548 Total Revenue 1,513,899 Less Cost of Sales: Pro Shop 132,090 Food & Beverage 89,403 Total Cost of Sales 221,493 Total Revenue less Cost of Sales 1,292,406 Operating Expenses: Pro Shop 422,577 Course Maintenance 505,933 Food & Beverage 65,605 Administration 260,987 Total Operating Expenses 1,255,102 Operating Income 37,304 Capital Expense 8,004 Ending Cash Balance 90,832