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0 <br />C, <br />n <br />00 <br />Of <br />)NEW <br />BRIGHTON <br />the city that works for you <br />DATE: October 8, 2009 <br />CITY OF NEW BRIGHTON <br />I'AKKS AND KECKEATION DFPAKTMENT <br />MLMOR.ANDUM <br />TO: Dean Lotter, City Manager <br />FROM: Sandy Breuer, Parks and Recreation Director <br />SUBJECT: Brightwood Hills Golf Course <br />At the April 7, 2009 work session, City Council expressed a desire to discuss the <br />operations of the Golf Course near the end of the 2009 season; the item was placed on <br />the Council docket for October 13, 2009. <br />Included with this memo are the following items: <br />• The most recent preliminary financial statement, as of September 30, 2009, for <br />the Golf Course. <br />• The annual budget spreadsheet for Brightwood Hills that reflects updated <br />projected 2009 numbers. <br />• A power point presentation that outlines current data on rounds, leagues and <br />events. The power point information focuses on providing council data on the <br />2009 season and how this compares to previous years (2009-2005). <br />The Golf Course financial report ending September 30, 2009 shows a positive balance <br />of $84,963. Staff has estimate the expenditures for the remainder of the year at <br />$103,000 including: Salaries $30,000; bond payments $47,000; gas & electrical $2,500; <br />roof repairs $4,000; info technology $5,500; green covers (2) $2,000; fertilizer $4,500; <br />tree removal & irrigation repairs $5,000; cart rental fees $1,000; waste removal $1,000 <br />and some other smaller items. Staff has estimated additional revenues of $12,000. <br />Bottom line is that we are estimating a deficit of $6,000. 2008 ending balance showed a <br />balance of $19,248 but this included a transfer in, essentially a loan, from the closed <br />bond fund for $25,400. Without this transfer the ending budget would have reflected a <br />deficit of $6,100. <br />In addition, at the work session on May 26, 2009, the council requested that Finance <br />Director, Dan Maiers share with council what the Golf Course budget would look like if <br />money was allocated from the Closed Bond Fund. Attached is the annual budget which <br />includes a $56,000 transfer for 2009 & $54,500 transfer for 2010 into the Golf Course <br />budget from the Closed Bond Fund. The $56,000 for 2009 and $54,500 for 2010 is the <br />