HomeMy WebLinkAboutNo. 2298 appropriating monies for the purpose of defraying the expenses of certain local public improvements for the fiscal year beginning January 1, 2007 and ending December 31, 2007 (Blackthorn Golf Course)RESOLUTION NO. 2298
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, 2007 AND ENDING DECEMBER 31, 2007 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 2007, 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
2007, 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 ear ending December 31, 2007, the above referenced appropriations are made
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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 19, 2007 at 10:00 a.m., 1308 County-City Building, 227 West Jefferson Boulevard, South
Bend, Indiana 46601
SOUTH BEND REDEVELOPMENT~C MMISSION
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Marcia I. Jones, Pres ~ t
ATTEST:
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Gr~ory S. Downes, ecretary
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Fund 619
Blackthorn Golf Course
Operations Budget
for Calendar Year 2007
2007
Budget
$214,562
Revenue:
Greens Fees
613,792
Golf Cart Income 309,507
Membership/Tee Time Revenue 101,200
Driving Range Income 42,570
Club Rental 0
Gift Certificates 0
Other Income 87,580
Lesson Instruction 5,250
Golf Shop Sales 223,131
Food & Beverage Sales 265,753
Advertising Revenue 0
Transfer of Funds from TIF 895,000
Total Revenue 2,543,783
Less Cost of Sales:
Golf Shop 145,035
Food & Beverage 85,041
Total Cost of Sales 230,076
Total Revenue less Cost of Sales 2,313,707
Operating Expenses:
Golf Shop 424,913
Course Maintenance 505,888
Food & Beverage 53,619
Administration 245,559
Total Operating Expenses 1,229,979
Capital Items & Debt Service:
Capital Items 493,000
Debt Service 645,000
Total Capital & Debt Service 1,138,000
Total Expenses, Capital 8~ Debt Service $2,367,979
(54,272)
* Net Change in Assets & Liabilities
Reserve for Sinking Fund 41,220
Unreserved Cash 119,070
Total Ending Cash $160,290
" Primarily due to change in inventory