HomeMy Public PortalAboutAB 22-203 Golf Fund Loan ForgivenessMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 22-203
Meeting Date July 28, 2022
AGENDA ITEM INFORMATION
SUBJECT:
Request to Approve Forgiveness of Golf Fund Loan Debt to the General Fund in the Amount of $85,000
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Originator
Clerk
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
$85,000
Parks and Recreation
FUNDING SOURCE:
n/a
Airport
Library
TIMELINE:
By September 30, 2022
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
In 2003 the Council loaned the Golf Fund $60,000 from the General Fund for purchase of greens covers to stop damage to greens over winter. In 2004 the Council loaned the Golf Fund $25,000
from the General Fund for course expenditures identified as necessary by a special “Golf Action Team” that reported to the Council and City Manager. The City’s financial statements
have carried both debts as a liability on the Golf Fund’s balance sheet and a receivable on the General Fund’s balance sheet ever since. The Golf Fund is in a positive financial position
and can now afford to repay the loans to the General Fund. The Golf Advisory Committee has requested the Council forgive the loan debt. The letter references $80,000 but their intent
was to ask forgiveness of the entire amount which is $85,000. (See attached letter)
At the July 1, 2022, budget workshop, the Council discussed the Golf budget and the City Manager’s proposal to bring the Pro Shop services in house along with a financial plan designed
to implement the Golf Course master plan. Council expressed an interest in forgiving this loan debt as part of the transition to the new structure and financial plan.
RECOMMENDED ACTION:
Approve forgiveness of Golf Fund debt to the General Fund in the amount of $85,000.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION