pages: CityCouncil/2006-06-20.pdf, 22
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CityCouncil | 2006-06-20 | 22 | The Finance Director responded the forecasted revenue would not be met; stated staff would come back to Council mid-year and recommend a reduction in the forecasted revenues. Vice Mayor/Board Member/Commissioner Gilmore inquired whether a large portion of the restricted reserves is for the new Clubhouse, to which the Finance Director responded the net assets are the physical assets. Councilmember/Board Member/Commissioner deHaan inquired what was the net unrestricted balance, to which the Finance Director responded the net unrestricted balance is cash. Councilmember/Board Member/Commissioner deHaan stated there is a downward trend. The Finance Director stated the downward trend is one of the motivating reasons for fee discussion. Councilmember/Board Member/Commissioner deHaan stated the golf climate has changed. Mayor/Chair Johnson stated golf is declining nationwide; the City cannot just raise fees to address the issue; people will go to other golf courses if fees are raised. Councilmember/Board Member/Commissioner deHaan stated a decline in playing golf on dry days could indicate that the golf industry is changing. The Finance Director stated the Golf General Manager is reviewing a lot of alternatives to generate revenues. Councilmember/Board Member/Commissioner Daysog inquired whether part of the revenue increase is the Return on Investment (ROI) change. The Finance Director responded the ROI is revenue in the General Fund and increases the Golf Department's expenditures. Councilmember/Board Member/Commissioner deHaan stated 15% of the reserves have dropped in the last five years; negative flows could occur two years out. Special Joint Meeting Alameda City Council, Alameda Reuse 8 and Redevelopment Authority, and Community Improvement Commission June 20, 2006 | CityCouncil/2006-06-20.pdf |