pages: GolfCommission/2007-02-28.pdf, 4
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GolfCommission | 2007-02-28 | 4 | complimentary play as well. 3-D Report on Fiscal Year 2006/2007 Budget. Chair Wood introduced the City Manager Debra Kurita and Chief Financial Officer Juelle Ann Boyer. The City Manager stated that at the February 20, 2007 City Council meeting the Golf Complex deficit was brought up during the Mid Year Budget Update. The City Council directed the Chief Financial Officer to draw up a resolution mandating a balanced budget for the Golf Fund by the end of the fiscal year within 30 days and will be brought to the City Council at the March 20, 2007 meeting. The first course of action was to determine what the deficit would be by the end of the fiscal year. The Chief Financial Officer determined that by the end of the fiscal year based on the prior months actual revenue and expenditures and a forecast for the final 5 months of the year that the Golf Fund would see a net cash loss of approximately $212,000. The General Manager had recommended various expenditure cost cutting measures such as a reduction in the cart fleet and water usage. The City Council understands that if it would harm the operation of the Golf Complex to balance the budget then other solutions need to be looked at. Commissioner Schmitz mentioned that the Golf Commission has recommended various fee increases to help increase revenue. The forecast does not include any funds for Capital Improvement Projects. The monthly reports the Golf Commission currently receives are based on the online information available to the golf staff. The Finance Department has access to more detailed information. The Golf Commission would like to have the General Fund Expenditures itemized in detail on the monthly financial report. The request was made to receive the Chief Financial Officer's report on a monthly basis to give the Golf Commission a clearer view of the Golf Complex financials and a running Enterprise Fund Balance. The ultimate goal is to have the Golf Fund's current revenue equal the current expenditures. The balanced budget does not ensure that the Enterprise Fund will not continue to go down. The question was raised as why the $300,000 lent to Development Services is non-interest bearing. The Chief Financial Officer stated that the interest on inter department loans is negotiated at the time of the loan, and interest was not added to the loan to Development Services. 4. ANNOUNCEMENTS/ADJOURNMENT Ron Salsig announced that he received two writing awards for articles, which appeared in the New York Times, Los Angeles Times and the Alameda Sun. The Golf Commission congratulated Mr. Salsig on his accomplishments. The City Manager announced that the City Council and the Alameda Unified School District would have a Joint Meeting on March 15, 2007. The Special Meeting was adjourned at 8:37 PM. The agenda for the special meeting was posted 24 hours in advance in accordance with the Brown Act. Chuck Corica Golf Complex Page 4 2/28/07 Golf Commission Minutes | GolfCommission/2007-02-28.pdf |