HomeMy WebLinkAbout6.D.(5) Resolution No. 2524L~ ~ ~~~
A'I1:11OR,~NDCn1
hO: Rede~~elopment Commissioners
hROJ1: Beth Leonard
`L..-
DA"11~:: No~~cmbcr 4, 2008
Rh:: Request to Set a Public llcaring to Consider Proposed Rc~~ision to 2008 131ackthorn Golf
Course [3udgct
Attache d is a copy of a notice of public hearing ice reyucsl the Commission set for Dcccmbu- ~, 2008 to
rcc~iea~ the proposed changes to the 2008 Blackthorn Uoli Course Budget (Fund 619). The bud~zct
attached thereto is iu drab form because sae arc still linalizing the October 2008 rc~~enuc and expense
figures. We ~~'ill brine an updated recision to the Noy°cmber 7`~' meeting. The updated re~~ision ~~~ill then
be published as part of the public notice.
~hhis proposed recision does not request any additional (undim~. but does mo~~e funding ti~om one category
to another to reflect the rcalit~~ of the years expenses. In addition. «~e ~~~ill supply the Commission «~ith
additional pertinent information on the proposed changes before the December ~~~' public hearing. Please
let me kno~e ii you need anvthine further.
10'hICF OF PIKLIC HEART\G
'~'071C1~: OF 131„-1CIiTHORV~ GOLF COURSE 13UDGH°I' IIL:IRI~G
SOI~I'll BhVD REDIi.~'ELOP~II?;~'I' C011pI1SS1O1
I he South Bend Rcdecelopnunt Commis,ion hereby declares that on 1 ridgy. December 5. DUOS. at
IO:OOam_ a public hcarin~~ mill be held in du Board of~Puhlic works meeting room. 1308 Counri~-Cite Building. Z?7
\Vest IcfTernon Boule~~ard. South Bend. Indiana. amccrning the following resolution de~ennining to appro. e and
revise a budget for the Blackthorn Golf Course f~~r tiscal year 3008, and appropriating fund. tdr the same. Member.
of the public ,ire cordially incited to attend the hearing for the purp<~ses ~~f c~pressing their vices.
RES01_U IION NO. ?~?~
:y KLSOI_U hI<)h OF 1 III_ SOUiII BEND RI DI-VELOPMLN [ COMMISSION DETERMINING
TO AI'PROPRIA I I~_ MONIES FOR TIIE PURPOSE OI DEFRAI"ING THIS EXPF NSES Ol
CLRI AlN LOCAL PUBLIC IMPKOV~Lb9ENTS FOK "I HL [ISCAI_ YEAR BEGWNING
IANGARh' 1. ?UOR AND ENDING DLCI~:MBER 31. 30OR INCLUDI'SG AL[_ OUTSTANDING
CL.11S1S AND OI3LIGAllONS. I~IXIN(i !~ IIMI: yvlll{N TH[ SAME SI TALL FAKE EFFI:X`f
WHEREAS, the South Bend Rede~~elopment Commission is the lessee of certain
local public improvements ~~~hich, dw~ing calendar year 2008, realize rep-enues and incw~ expenses in
connection with the operation and maintenance of the same: and
WHF_,REAS, the South Bend Redevelopment Comnssion has determined that it is
necessary to appropriate the revenues of certain public improvements in order to dcli~ay the expenses
ohthose local public improvements.
NOW, l~I~EREFORE. BE IT RESOLVED BY THE SOUTH BEND
REDEVELOPMENT COMMISSION AS FOLLOWS:
I . For the expenses of the Blaclahorn Golf Course and its various divisions, for the fiscal year
2008, the sums of money, as set torth in the budget which is made a part hercof~, arc hereby
appropriated and ordered set apart out of the funds hereinafter named, and for the purposes
hcrcinalter specified, subject to the la~~~s governing the same. The scans herein appropriated shall be
deemed to include all expenditures authorized to be made in said year, unless other~~~ise expressly
stipulated or prorided by law.
~. For the [fiscal year ending December 3 I. 2008_ the aboee referenced appropriations are made
within the Blackthorn Golf Course Fund.
3. This resolution shall be in full torte and effect from and after its adoption.
Adopted at the regular meetin~~ of the South Bend Redd clopment Commission held Friday.
Dcccmber ~. ?008 at 10:00 a.m._ 1308 County-City Building. 227 y~est Jet{erson Boulevard. South
Bend. Indiana 4660!
SOI;l H BL!ND RIDE\ E1 OPMI_NT COn~llv11SSION
ll ll Sl
Publish 'Vo~'cmbcr 21, 2008
Fund 619
Blackthorn Golf Course
Operations Budget
for Calendar Year 2008
Revised
2008
Budget
Beginning Cash @ 1l1 $128,425
Revenue
Rounds (25,000)
Greens Fees 635,000
Golf Cart Income 165,000
Membership/Tee Time Revenue 67,000
Driving Range Income 35,000
Other Income 111,000
Lesson Instruction 5,100
Gotf Shop Sales 240,000
Food & Beverage Sales 255.000
Total Revenue 1,513.100
Less Cost of Sales:
Golf Shop 173,000
Food & Beverage 100,000
Total Cost of Sales 273,000
Total Revenue less Cost of Sales 1,240,100
Operating Expenses
Golf Shop 435,000
Course Maintenance 485,000
Food & Beverage 60,690
Administration & Management 290,000
Total Operating Expenses 1,270,690
Net Operating Income (30,590)
Capital Items & Debt Service:
Add:
Less:
Transfer of Funds from TIF 651,500
Capital Items 0
Debt Service 651.500
Change in Cash
Ending Cash @ End of Period $97,835