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GATC Meeting Minutes 2004.08.14Golf Action Team Meeting Date: August 12, 2004 Time: 4:00 pm — 5:45 pm Location: Golf Course Clubhouse In Attendance: Allan Morrison, Bill Robertson, Amanda Townsend, Dan Pillard, Bonnie Bertram, Lindley Kirkpatrick 1. Lindley reviewed the updated revenue comparison sheet and explained that it did not look like we would meet budgeted revenues this fiscal year. Dan has projected operations revenue for the year at $500,000 - $524,000 and Clubhouse revenue at $153,000. 2. Reviewed the Golf Pro Contract expense line and the Operations and Clubhouse revenue lines. These lines were budgeted using a different method than the way we are actually booking the money received (budgeted amounts were based on collecting all revenues received from Allan and then turning around and making a payment back to Allan — the City actually receives contract amounts with Allan just keeping his amount). There is an additional $58,325 budgeted in the expense line that will not be spent this year. We will also change the FY 04/05 budget so budget and actual match. 3. Dan identified approximately $64,000 in savings on the expenditure side to offset the revenue shortfall. The savings do not include any changes to the staffing plan. Over -runs were also identified. The table below represents the best estimates of items that will be over budget and under budget (savings) at the end of the fiscal year. Acct number Description Over Budget Under Budget 54-85-150-156 Uniforms $470 54-85-150-210 Dept. Supplies $1,500 54-85-150-218 Supplies — Fertilizer ($2,531) 54-85-150-222 Chemicals ($1,731) 54-85-150-225 Roads/Paths $1,000 54-85-150-227 Irrigation $1,000 54-85-150-228 Drainage $500 54-85-150-240 Minor Equipment $771 54-85-150-250 Motor Fuels/Lubricants ($4,000) 54-85-150-260 Postage ($66) 54-85-150-280 Licenses/Permits $127 54-85-150-309 Golf Pro Contract $58,325 54-85-150-310 Attorney Services $825 54-85-150-400 Advertising & Legal ($553) 54-85-150-420 Travel & Meetings $1,340 54-85-150-435 Books/Pub/Subscriptions $170 54-85-150-460 Telephone $1,000 54-85-150-490 Heat/Lights/Utilities $8,500 54-85-150-520 Rental Property $45 54-85-150-560 Repairs — Office Equipment $200 54-85-150-580 Repairs — Auto Equipment $972 54-85-200-702 Capital Purchases ($4,011) TOTALS ($12,892) $76,745 ESTIMATED SAVINGS $63,85A,, Since the meeting on August 12, Amanda has completed a budget line item transfer of $2,500 from the salaries and wages line to the professional services line to cover the $2,372 over budget amount that we discussed on August 12. This $2,500 is part of the $10,000 that was dedicated to staffing at the beginning of the season. A budget line item transfer was also done to move the remaining $15,000 of the original $25,000 from the Reserved Loan line to Repairs — Building & Grounds where the money was actually spent. 4. Comparing revenue projections to expenditure projections for the rest of the fiscal year, it is estimated (on a cash basis) that we will have a net loss of approximately $10,000 - $30,000. 5. Bonnie is going to ask the Foundation to seal the Cedar paths with the $15,000 they have committed to path repairs. 6. The next meeting date is Friday, August 20, 2004 at 3:00 pm at the Clubhouse.