HomeMy WebLinkAbout07138ORDINANCE NO. 7138
AN ORDINANCE AMENDING THE CITY OF PUEBLO 2004 BUDGET FOR THE ELMWOOD
GOLF COURSE ENTERPRISE FUND BY INCREASING THE OPERATING AND CAPITAL
OUTLAYS AND APPROPRIATING FUNDS THEREFOR
WHEREAS, in January of 2004, a City Golf Committee identified and recommended
additional operating and capital outlay improvements for the Elmwood Golf Course during their
evaluation of the 2004 golf fee increase proposal; and
WHEREAS, the identified and recommended improvements for the Elmwood Golf Course
are the lease /purchase of 71 new golf carts, increased operating budget for the 27 hole course, an
increase in the capital outlay budget in order to purchase new maintenance equipment, and an
increase in the loan to Walking Stick Golf Course as required by ordinance; and
WHEREAS, the 2004 Elmwood Golf Course Budget will have to be amended in order to
fund the identified recommended operating budget increases and capital outlay improvements; and
WHEREAS, reserves in both the Elmwood Golf Course fund and the Walking Stick Golf
Course fund are inadequate to fund these projects, an additional advance from the General Fund
will be required; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The 2004 budget and appropriations for the Elmwood Golf Course Enterprise Fund are
amended as follows:
2004 Adopted 2004 Amended
Revenue $ 1,107,000 $ 1,284,235
Personnel $ 29,295 $ 29,295
Operating 625,313 684,813
Capital Outlay 40,000 65,000
$ 694,608 $ 779,108
Bond Payment 252,350 252,350
Total Expense $ 946,958 $ 1,031,458
Gain (Loss) $ 160,042 $ 252,777
Transfer to Walking Stick (301,232) (905,822)
Reserve Increase (Decrease) (141,190) (653,045)
SECTION 2.
This Ordinance shall become effective immediately upon final approval and passage.
INTRODUCED Aoril12.2004
PASSED AND APPROVED April 26, 2004
ED
Background Paper for Proposed
ORDINANCE
AGENDA ITEM # )T 3' S�
DATE: April 12, 2004
DEPARTMENT: PARKS & RECREATION — RICH ZAJAC, DIRECTOR
MIKE ZAREMBA, GOLF COURSE
MANAGER
TITLE
AN ORDINANCE AMENDING THE CITY OF PUEBLO 2004 BUDGET FOR THE
ELMWOOD GOLF COURSE ENTERPRISE FUND BY INCREASING THE
OPERATING AND CAPITAL OUTLAYS AND APPROPRIATING FUNDS
THEREFOR
ISSUE
Should City Council increase the 2004 operating and capital outlay budgets for
the Elmwood Golf Course.
RECOMMENDATION
Approval of this Ordinance.
BACKGROUND
In December of 2003, City Council directed that a Golf Committee be formed to
evaluate the fee increase proposal, the financial status of the golf enterprise
funds and identify and recommend operating and capital outlay improvements for
the municipal courses.
The Golf Committee, City Administration and the Golf Course Manager have
mutually agreed and recommend that the following additional operating and
capital outlay improvements be made to Elmwood Goff Course in 2004: 1)
lease /purchase 71 new golf carts; 2) increase operating budget to improve
maintenance for the 27 hole course; and 3) increase capital outlay in order to
purchase additional maintenance equipment.
In order to fund the additional operating and capital outlay improvements the
2004 adopted Elmwood Golf Course budget will have to be amended.
FINANCIAL IMPACT
The cost of the additional operating and capital outlay improvements to Elmwood
Golf Course are estimated as follows:
• Lease /purchase 71 new golf carts $34,500.00 /year
• Increase operating /maintenance funds 25,000.00
• Increase capital outlay /new equipment 25,000.00
TOTAL $84,500.00
The estimated annual increase in revenue from the golf fee adjustments that
were adopted in February of 2004 will not be sufficient to fund the recommended
increased operating and capital outlay improvements. Even with the projected
fee increase built in, the golf courses negative reserves are projected to increase
by $653,045.
The amended golf course operating budget and revised revenue is as follows:
2004 Adopted 2004 Amended
Revenue $ 1,107,000 $ 1,284.235
Personnel $ 29,295 $ 29,295
Operating 625,313 684,813
Capital Outlay 40.000 65.000
$ 694,608 $ 779,108
Bond Payment $ 252,350 $ 252.350
$ 946,958 $ 1,031,458
Gain (Loss) $ 160,042 $ 252,777
Loan to Walking Stick (301,232) (905,822)
Fund Increase (Decrease) (141,190) (653,045)