HomeMy WebLinkAbout5.A.(1)&(2) Resolution No. 2524
RESUI_UTION NO. ?~?~
~ RESOLUTIO'~~ OP "I I IL SOU CFl BEND R[ DI ~'I1.OP'~11~N1 COMh11SSIO?v'~
DI=1 ERh11NING fOTR:1NSFER ~90NII S A~10NG VARIOUS ACCOUNTS
V'dIl 111' 1=U1v~D 619 FOR ]l I1- PURPOSE Of DFFRAI'llvY;
Tl if I~_APENSLS OP CERI ATV LOCAL_ PUBLIC I V1PR0\ I_~4I~_NIS
POR CIB_ I~ISCAI. PEAK BLGINNIN(, I~A~UARY I, BOOR ;AND
L[NDIiyG DECGEIBIR 31, ?OOR 4NCLUDI~G :11_L OUTSTANDING
CLA1~1S AND OBLIG.~TIUNS. FIXING A 1111E \~'11E1v~ l flf SA~11= SIIALI-TAKE C]~IECI
\~'HI_RI.AS_ the Sowh Bend Redevclopnrent Commis,ion is the Ics,ce of certain local
public improvements ~~ hich. during calendar vem .'008. realize revenues and incur c~penses in connection
~~ith the operation and maintenance of the same: and
\'~ I II~_RI_AS. the South Band Redecclopment Crnnmission ha. dcicnnincd that it is
necessar ~ u, tran,icr monic~ anx~ng certain account. ~~ ithin Fund 619 in order to dcl~rn the expenses of
those local public improcemcnt~.
NO\~'. I IIEKEFORL. B1~_ 1T RESOI V~I~_ll B1' Il IE SOUl11 BEND
RLDEVELOPA91~_NT COMMISSION AS FOLI Ot4"S:
I . I he sum of s;>7.d l4 i. hcreb~~ tran,l~erred am~ui~~ accounts ~~ithin Fund 619 as set 4<~rth hcrcinatiei
which is herehv approved and incorporated by relerence ~~ ith respect to the 4~~Ilo~~~ing disc ibutions:
Reduce the li~llowins: Amount
Cost of Sales -Golf Shop I.I ~0
Operating L.epcn.es Course A9aintennnce >6?3-}
1 atal ~?_-41-4
Increase the 4i~llowina: ~nuamt
Cosy of Salt, - Pond fi Bevcra~_c 10.00
Operating I_~pcnscs -Golf OperationsPro Shop S.6~h
Operating Eepenses- Food ~ Beverage ?.i?I
Opcratin~_ L pcnses - r~dmini,nntion ~~ ~1anagcmcnt 33.167
loud >?~l-1
?. Por the fiscal ~~eur endinr~ December ; I . FOUR. the above relerenced u~ansfen arc nr~de within the
Blackthorn GoII Course Fund.
Ibis resolution shall be in fldl f2n~ce and eft~ct li'inn and after its adoption by the S~unh Bend
Kcdc~clopnmm Commission.
Adoptc~ at the re~~ular mcc~ing of the South 13cnd R~de~ clopmcnt Conuni~"iun hcl~l frida~-.
December ~. ~00X at 10:00 a.m.. 1 ,(18 County-City Buildin«. ~'7 \~~e~t Ieffcr~um Boule~<ud. South Bend.
fndiana 16~i01
~~rri~:S~r:
rrn~r~d ~,~,,,~.,,~,~ nd,
South Bend Redccclopmenl Commission
CITI` OP SOl7'll BH:VU,
DP:P:V2"1'~IG1'"I~ OC REDE~I~:LOF'~1[?V'1~
r„~a„~ ~~~,,;; ~„~<< i~r,~
South Kend Redecelopmcnt Conuuission
Publish V'o~cmbcr ? I, 2008
Fund 619
Blackthorn Golf Course
Operations Budget
for Calendar Year 2008
Revised
2008
Budget
Beginning Cash @ 111 $128,425
Revenue
Rounds (25,000)
Greens Fees 651.354
Golf Cart Income 156,039
Membership/Tee Time Revenue 66,656
Driving Range Income 35,407
Other Income 87.556
Lesson Instruction 5,914
Golf Shop Sales 233,903
Food & Beverage Sales 243 007
Total Revenue 1,479,836
Less Cost of Sales:
Golf Shop 168,000
Food & Beverage 95,000
Total Cost of Sales 263.000
Total Revenue less Cost of Sales 1,216,836
Operating Expenses
Course Maintenance 485,000
Golf Operations/Pro Shop 442,000
Food & Beverage 63,690
Administration & Management 290.000
Total Operating Expenses 1,280,690
Net Operating Income (63,854)
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
$64,571