pages: GolfCommission/2006-11-29.pdf, 1
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GolfCommission | 2006-11-29 | 1 | ALAMEDA GOLF COMMISSION MINUTES OF SPECIAL MEETING Wednesday, November 29, 2006 1. CALL TO ORDER Chair Betsy Gammell called the special meeting to order at 3:00 p.m. in the Ladies Lounge, Chuck Corica Golf Complex, #1 Clubhouse Memorial Road, Alameda, CA. 1-A. Roll Call Roll call was taken and members present were: Chair Betsy Gammell, Secretary Ray Gaul, Commissioner Bill Schmitz, Commissioner Jane Sullwold and Vice Chair Bob Wood. Absent: Commissioner Sandré Swanson. Also present was General Manager Dana Banke. 2. AGENDA ITEMS: 2-A Attendance and Financial Projections by John Ritchie, CPA. The General Manager stated that John Ritchie has been working on the attendance and revenue financial projections and assumptions. The report is to be used as a tool to project what funding is available to service a debt for the new clubhouse or other improvement projects. The General Manager handed out the draft financial report and assumptions prepared by Mr. Ritchie. The assumptions do not take any fee increases into account until fiscal year 2007/2008. The report is in draft form and the General Manager asked that the Golf Commissioner's take a look at it and get back to him with any questions. The report still needs to be reviewed by the Finance Director for accuracy. The report clearly shows that there is no excess money to pay for Capital Improvements and additional debt service and in order for the Golf Complex to reduce a future deficit there needs to be an increase in revenue and a reduction in expenditures. The question was raised regarding the timing of the proposed fee increases. The General Manager stated that after the joint meeting there will be a better understanding of what sort of projects can be done and the amount of money necessary for the projects. The decision to increase the rates will be based on the out come of the joint meeting and whether or not improvement projects and a return of funds from the General Fund are approved. The Golf Commission will review the information and get back to the General Manager with any questions. 2-B Update by Keyser-Marston Associates on Banquet Revenue Projections. Page 1 of 2 | GolfCommission/2006-11-29.pdf |