4.6. SR 02-05-2018 Eclty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 4.6
Agenda Section Meeting Date Prepared by
Consent February 5, 2018 Lori Ziemer, Finance Director
Item Description Reviewed by
Authorize Transfer from General Fund to Cal Portner, City Administrator
Pinewood Golf Course Fund Reviewed by
Action Requested
Adopt,by motion, a resolution authorizing transfer from the General Fund to the Pinewood Golf Course
Fund.
Background/Discussion
On March 6,2017, the city entered into a two-year management agreement with Elk River Golf Club to
operate the city-owned Pinewood Golf Course.
According to the agreement, the city would retain all revenues and pay all expenses, as well as required
capital improvements,relating to the operation of Pinewood Golf Course. All operating losses are the
responsibility of the city.
As of December 31, 2017, the operating loss of Pinewood Golf Course is $41,065.18.
Financial Impact
Transfer $41,065.18 from the General Fund to the Pinewood Golf Course Fund to cover the operating
losses for 2017.
Attachments
■ Resolution authorizing a transfer from the General Fund to the Pinewood Golf Course Fund.
■ Pinewood financials —December, 2017
The Elk River Vision
A PehoMing community 2a itb revolutionary and spirited resourcefulness, exceptional POWERED By
service, and community engagement that encourages and inspires prosperity INAWRE1
City of
Elk City of Elk River
Wver City Council
Resolution 18-
A Resolution of the City Council of the City of Elk River Authorizing a
Transfer from the General Fund to the Pinewood Golf Course Fund
WHEREAS, The City Council approved a management agreement on March 6, 2017,with
Elk River Golf Club to operate the city-owned Pinewood Golf Course.
WHEREAS, The city would retain all revenues and pay all expenses relating to the
operation of Pinewood Golf Course, and is responsible for all operating losses.
WHEREAS, The operating loss for Pinewood Golf Course for the year ending December
31, 2017,is $41,065.18.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River,Minnesota, as follows: transfer$41,065.18 from the General Fund to the Pinewood
Golf Course Fund.
Passed and adopted this 51h day of February 2018.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ
222-PINEWOOD GOLF COURSE
MONTH OF YTD YTD YTD
REVENUES:DECEMBER ACTUAL ERGC CITY
Charges for Services
222-3-0000-3467 Concessions - 5,199.87 5,199.87 -
222-3-0000-3469 Other Sales - 2,169.44 2,169.44 -
222-3-0000-3476 Green Fees - 65,018.69 65,018.69 -
222-3-0000-3477 Membership Fees - 5,300.00 5,300.00 -
222-3-0000-3478 Golf Cart Rental - 13,172.49 13,172.49 -
222-3-0000-3792 Cash Over - 0.60 0.60 -
TOTAL Charges for Services - 90,861.09 90,861.09 -
TOTAL REVENUE - 90,861.09 90,861.09 -
EXPENDITURES:
Supplies
222-4-5300-4212 Fuels & Lubes - 6,952.71 6,896.21 56.50
222-4-5300-4219 Operating Supplies - 2,941.83 2,510.05 431.78
222-4-5300-4259 Other Merchandise For Resale - 4,580.75 4,580.75 -
TOTAL Supplies - 14,475.29 13,987.01 488.28
Other Services & Charges
222-4-5300-4319 Management Fee 1,032.00 25,032.00 - 25,032.00
222-4-5300-4349 Advertising/Marketing - 1,436.00 1,436.00 -
222-4-5300-4389 Utilities - 5,136.66 1,849.58 3,287.08
222-4-5300-4401 Building Maintenance - 1,764.09 1,178.09 586.00
222-4-5300-4404 Grounds Maintenance - 12,898.32 12,668.32 230.00
222-4-5300-4409 Contractual Svcs - Wages/Taxes 171.77 68,382.89 68,382.89 -
222-4-5300-4415 Equipment Rental - 374.06 374.06 -
222-4-5300-4437 Taxes & Licenses - 525.00 525.00 -
222-4-5300-4438 Bank/Credit Card Fees 145.20 1,901.96 1,901.96 -
TOTAL Other Services & Charges 1,348.97 117,450.98 88,315.90 29,135.08
TOTAL EXPENDITURES 1,348.97 131,926.27 102,302.91 29,623.36
REVENUES OVER/(UNDER) EXPENDITURES (1,348.97) (41,065.18) (11,441.82) (29,623.36)
CITY OF ELK RIVER
REVENUE & EXPENSE REPORT (UNAUDITED)
AS OF: DECEMBER 31, 2017