Fort Walton Beach Council agenda — 03-28-06 Workshop — reading text

the General Fund for services such as human resources operating deficits, the fund has not been reimbursing and financial services including payroll recruitment and hiring; computer, fleet, and equipment maintenance; as required by the City' s indirect cost allocation plan. and accounts payable of the Golf Club and have undertaken a series. of City Council and staff are aware of the financial position to improve the financial position of the Club. workshops, rate structure changes, and cost cutting measures Plan and formed a Golf Club Advisory Committee to City Council adopted a Golf Club Business Operations of the business operations address the long- term financial outlook of Golf Club Operations. Key components condition and generated sufficient plan were to ensure that the Golf Club was in consistently good playable revenues to cover operations. In addition, a comprehensive golf club fee study was completed and adopted multi- of rate increases. In order to minimize rate by Council in March 2004 implementing a year plan levels projected in the multi- year rate plan increases and still achieve financial stability, the expenditure However, earlier than reflected delayed equipment replacements and minimal capital improvements. to maintain course conditions and bulkhead, seawall, anticipated equipment replacements have been needed rains in Spring 2005, Ivan in September 2004, heavy and bridge repairs have been necessitated by Hurricane have not covered these expenses, which were not anticipated and Hurricane Dennis in July 2005. Revenues at the time of the rate study. Committee to reevaluate rates and In August 2005 City Council directed staff and the Golf Club Advisory and capital improvements develop a new multi- year rate plan to cover operations, equipment replacements, such as storage buildings, irrigation, and rebuilding greens. Staff and the Golf Club Advisory Committee have worked together to develop several rate scenarios that strike a balance between maintaining current play levels while funding for anticipated equipment and capital needs and rebuilding the net assets of the providing Golf Enterprise Fund. 10f3  II '" g~~ o g 8 8 8 8 g u) ~ ~ ~ cD c: c: g g~~ I :I o N o e e CD N po.. o 0 on vv co 8 g 8 8 g II)~::~ w; N g e It) p) ~ g .,;S! g .,; ~ CD t") CII .. 0 CII N E.0 II) II) II) Il) Il) II) on on on u CII E It) II) It) It) It) II) an II) cD .... II) ,.... 0: N 0: It) E CP c c: 88888 8 II) ~ N Q) N I, l) C") en