HomeMy WebLinkAboutNo. 3089 appropriating monies for the purpose of defraying the expenses to December 31, 2013 (Fund 619 Blackthorn Golf Course Operations)RESOLUTION NO. 3089
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, 2013 AND ENDING DECEMBER 31, 2013 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 2013, 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 2013,
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, 2013, 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 Thursday,
October 25, 2012 at 9:30 a.m., 1308 County -City Building, 227 West Jefferson Boulevard, South Bend,
Indiana 46601
SOUTH BEND REDEVELOPMENT COMMISSION
ATTEST: Marcia I. Jones, esident
c. Z A17-'-1
Don ld Alford, Si/., Secretary
Fund 619
Blackthorn Golf Course
Operations Budget
For Calendar Year 2013
Less Cost of Sales:
Golf Shop 141,300
Instruction 6,800
Food & Beverage 89,000
Total Cost of Sales 237,100
Total Revenue Less Cost of Sales 1,459,779
Operating Expenses:
Budget
Beginning Cash @ 1/1
77,510
Revenue:
429,434
Rounds (29,464)
76,573
Greens Fees
629,734
Golf Cart Income
112,276
Membership /Tee Time Revenue
210,621
Driving Range Income
40,625
Other Golf Income
62,725
Lesson Instruction
8,500
LPGA Event Income
180,000
Golf Shop Sales
200,545
Food & Beverage Sales
251,853
Total Revenue
1,696,879
Less Cost of Sales:
Golf Shop 141,300
Instruction 6,800
Food & Beverage 89,000
Total Cost of Sales 237,100
Total Revenue Less Cost of Sales 1,459,779
Operating Expenses:
Golf Course Maintenance
511,086
Golf Operations /Pro Shop
429,434
Concessions
76,573
LPGA Event
150,000
Late Fees
5,000
Administration & Management
261,935
Total Operating Expenses
1,434,028
Net Operating Income 25,751
Non - Operating Revenue
Debt Service Funds from TIF 326,000
Debt Service Expense 326,000
Capital Items Expense 10,578
Ending Cash @ End of Period $92,683