5.2. SR 03-10-2008Item # 5.2.
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MEMORANDUM
TO: City Council
FROM: Lori Johnson, City Administrator
DATE: March 10, 2008
SUBJECT: Update on Pinewood Golf Course Operations
We axe ready to start our third year of operating the Pinewood Golf Course. With two years
of operating experience and fmancial data behind us, it's a good time to review the fmancial
status and upcoming operating forecasts for the next fcw years. The golf course itself is in
excellent condition; we've heard many positive comments from the public about the
condition of the course and about the nitch it fills for young golfers just learning to play and
families and seniors who enjoy takutg their time on the course.
During last fall's budget discussions, we talked briefly about course's finances and changes
that were being proposed fox 2008. Again this year, we axe implementuig strategies to
improve the long range fmancial picture of the course. There were some unavoidable start-
up costs during the First two years that affected the bottom line. As cou recall from the
budget discussion, the only capital expenditure budget fox 2008 is lining the pond. This
should complete the urgent start-up expenditures.
On Monday, Tim Simon, Finance Director, will present the ending 2007 fmancial
information fox Pinewood and Bill Maextz, Parks and Recreation Director will give an
update on operations and use of the course. VVe will also discuss changes and improvements
that have been made to streamline the operations at the coarse and present fmancial
forecasts fox the next several years. Staff's goal is to continue to generate additional revenue
and implement strategies to control expenditures while still offering a great golf course fox
everyone to enjoy.