HomeMy WebLinkAbout2012-12-04; City Council; Resolution 2012-266Exhibit 2
1 RESOLUTION NO. 2012-266
2 A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA, AUTHORIZING A
TRANSFER OF FUNDS FOR THE OPERATIONS OF THE
CROSSINGS MUNICIPAL GOLF COURSE
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WHEREAS, the City Council ofthe City of Carlsbad, California has reviewed the
proposed final Budget for The Crossings municipal golf course operations for the first
six months of calendar year 2013 (January 1, 2013 through June 30, 2013) and
approved the expenditures as set forth in Exhibit A attached to this Resolution.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
11 Carlsbad, California, as follows:
12 1. That the above recitations are true and correct.
2. That the City Council authorizes the transfer of funds necessary to support
the operations of The Crossings municipal golf course for the first six months of
calendar year 2013, without the necessity for repayment, since the accumulated
advances with interest from the General Fund to date have no realistic possibility of
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jg repayment in the foreseeable future.
19 3. That the Finance Director is authorized to transfer $251,072 from the General
20 Fund balance to subsidize The Crossings.
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PASSED, APPROVED AND ADOPTED at a Joint Special Meeting ofthe
Carlsbad City Council and the Board of Directors of the Carlsbad Public Financing
Authority on the 4*^ day of December, 2012, by the following vote to wit:
AYES:
NOES:
Council Members Hall, Kulchin, Blackburn, Douglas and Packard.
None.
ABSENT: None.
(SEAL)
A "r C A R L S S A D
Proposed Operating Budget
January 1, 2013 through June 30, 2013
REVENUES:
COURSE AND GROUNDS
PRO SHOP
PRACTICE CENTER
FOOD & BEVERAGE
GENERAL AND ADMINISTRATIVE
TOTAL REVENUES
COST OF SALES:
PRO SHOP
FOOD & BEVERAGE
TOTAL COST OF SALES
MERCHANDISE COGS %
F & B COGS %
PAYROLL
COURSE AND GROUNDS
PRO SHOP
FOOD & BEVERAGE
MARKETING
GENERAL AND ADMINISTRATIVE
PAYROLL TAXES & BENEFITS
TOTAL PAYROLL EXPENSE
OTHER EXPENSES:
COURSE AND GROUNDS
PRO SHOP
PRACTICE CENTER
FOOD & BEVERAGE
MARKETING
GENERAL AND ADMINISTRATIVE
CAPITAL OUTLAY
TOTAL OTHER EXPENSES
TOTAL EXPENSES
REVENUES LESS EXPENSES
CAPITAL RESERVE
PAYMENTS ON DEBT (INTEREST ONLY)
NET CASH FLOW
$ 1,387,382
$ 200,828
$ 136,934
$ 1,263,600
$ 64
$ 2,988,808
$ 116,551
$ 344,047
$ 460,598
66%
29%
$ 336,690
$ 79,903
$ 370,419
$ 73,210
$ 107,225
$ 263,111
$ 1,230,558
$ 639,032
$ 27,471
$ 12,152
$ 123,715
$ 53,144
$ 284,195
$ -
$ 1,256,926
$ 2,948,082
$ 40,726
$ 27,040
$ 381,975
$ (368,289)
BUDGETED ROUNDS - TOTAL 29,615
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