HomeMy WebLinkAbout6.C.(2) Filing Resollution No. 2542`~' < ~'
NOTICE OF PUBLIC HEARING
NOTICE OF BLACK'CHORN GOLF COURSE BUDGET HEARING
SOUTH BOND RF,DF.VELOPMENT COMMISSION
1"he South Bcnd Redevelopment Commission hereby declares that on Friday, January 16, 2009, at
I O:OOam, a public hearing will be held in the Board of Public Works meeting room, 1308 County-City Building, 227
West Jefferson Boulevard, South Bend, Indiana, concerning the following resolution determining to approve and
revise a budget for the Blackthorn Golf Course for fiscal year 2009, and appropriating funds for the same. Members
of the public are cordially invited to attend the hearing for the purposes of expressing their views.
RESOLU"I"ION NO. 2542
A RF.SOLU"LION OF THE SOUTI I BEND REDEVELOPMENT COMMISSION DE"fEKMINING
TO APPROPRIATE MONIES PORTIIE PURPOSE OF DEFRAYING "I'IIE EXPENSE'S OF
CERTAIN LOCAL PUBLIC IMPROVEMENTS POR'f11E FISCAL YEAR BEGINNING
JANUARY 1, 2009 AND ENDING DECEMBER 31, 2009 INCLUDING ALL OUTSTANDING
CLAIMS AND OBLIGATIONS, FIXING A TIME. W}IEN THF. SAME SI IALL TAKE F?PFECT
WHC'_REAS, the South Bcnd Redevelopment Commission is the lessee of certain
local public improvements which, during calendar year 2009, 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 de[i~ay the expenses
of those local public improvements.
NOW. ~fHLREFORI?, BE IT RESOLVED BY "fHE SOU"I-H BEND
REDEVELOPMEN"f COMMISSION AS FOLLOWS:
I . For the expenses of the Blackthorn Golf Course and its various divisions, for the fiscal year
?009, 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. ~hhe sums herein appropriated shall be
deemed to include all expenditures authorized to be made in said year, unless otherwise cxpressl_y
stipulated or provided by law.
2. For the fiscal year ending December 31, 2009, 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 Friday,
January 16.2009 at 10:00 a.m., 1308 County-City Building, 227 Wcst Jefferson Boulevard, South
Bend, Indiana 46601
SOUTH BEND REDEVELOPMENT COMMISSION
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Publish January 2, 2009
Fund 619
Blackthorn Golf Course
Operations Budget
for Calendar Year 2009
2009
Budget
Beginning Cash @ 1/1 $83,855
Revenue
Rounds (24,850)
Greens Fees 637,877
Golf Cart Income 169,446
Membership/Tee Time Revenue 104,400
Driving Range Income 39,300
Other Income 104,970
Lesson Instruction 5,000
Golf Shop Sales 258,700
Food & Beverage Sales 258,450
Total Revenue 1,578,143
Less Cost of Sales:
Golf Shop 168,155
Food & Beverage 85.289
Total Cost of Sales 253,444
Total Revenue less Cost of Sales 1,324,700
Operating Expenses:
Course Maintenance 409,867
Golf Operations/Pro Shop 534,729
Food & Beverage 64,369
Administration & Management 265.704
Total Operating Expenses 1,274,668
Net Operating Income 133,886
Capital Items & Debt Service:
Add:
Less:
Transfer of Funds from TIF 655,000
Capital Items 40.000
Debt Service 655,000
Change in Cash
Ending Cash @ End of Period $93,886