|
TO: Maurie, Director of Park & Recreation
<br />FR: Margazet, Finance Director ~~
<br />a
<br />Below is the information that shows the profit from the operation of the Municipal Golf Course.
<br />The Course was purchased for $550,000 in 1977 from a private party. The cash for the purchase
<br />came from a $100,000 Federal Revenue Sharing grant and a $450,000 loan from Ramsey County.
<br />The loan with Ramsey County has an annual payment of $36,000 with the last payment payable
<br />in 1997. Additionally, the City has purchased miscellaneous equipment and made improvements
<br />totalling $261,600. Examples in this area include $35,000 for a parking lot, $42,000 for an
<br />irrigation system, and $28,000 for a storm sewer project.
<br />Disk: M1 CUMULATIVE PROFIT
<br />File:GCCP
<br />06/03/'92
<br />Miscellaneous Purchase of Course Ending
<br />Year Other Profit Capital Principal Interest Profit
<br />1978 $27,300 $13,600 $22,500 ($8,800)
<br />1979 $36,400 $14,300 $21,800 $300
<br />1980 $43,200 $15,000 $21,100 $7,100
<br />1981 $47,400 $15,000 $15,800 $20,400 ($3,800)
<br />1982 $54,500 $16,500 $19,600 $18,400
<br />1983 $47,800 $53,000 $17,400 $18,700 ($41,300}
<br />1984 $44,100 $18,300 $17,900 $7,900
<br />1985 $46,900 $19,100 $17,000 $10,800
<br />1986 $51,600 $20,100 $16,000 $15,500
<br />1987 $77,400 $38,000 $21,100 $15,000 $3,300
<br />1988 $86,700 $22,200 $13,900 $50,600
<br />1989 $90,800 $23,300 $12,800 $54,700
<br />1990 $110,000 $82,000 $24,400 $11,700 ($8,100}
<br />1991 $59,600 $20,600 $25,700 $10,400 $2,900
<br />Sub-total $100,000 $823,700 $208,600 $366,800 $238,800 $109,500
<br />1992 $84,000 $25,00(} $26,900 $9,200 $22,90(}
<br />1993 $87,300 $28,000 $28,300 $7,800 $23,200
<br />1994 $90,800 $29,700 $b,400 $54,700
<br />1995 $94,400 $31,200 $4,900 $58,300
<br />1996 $98,100 $32,800 $3,400 $61,900
<br />1997 $102,100 $34,400 $1,700 $66,000
<br />1998 $106,200 $106,200
<br />1999 $110,500 $110,500
<br />2000 $114,900 $114,900
<br />Sub-total $0 $888,300 $53,000 $183,300 $33,400 $618,600
<br />GRAND TOTAL $100,000 $1,712,000 $261,600 $550,100 $272 200 __$728,100_
<br />(1) Federal Revenue Avenue NW • New Brighton, MN 55112 • (612) 633-1533
<br />the city that works for you
<br />
|