G-02-02-14-12A1 - 2/14/2002ORDINANCE NO. a -0a- I g C4 1
AN ORDINANCE APPROVING AND ADOPTING A BUDGET FOR
THE FOREST CREEK GOLF COURSE FOR THE YEAR 2002.
WHEREAS, CCA Silband/Golfcorp/Round Rock, Inc. ("Operator")
has submitted a proposed capital budget for the Forest Creek Golf
Course for 2002, and
WHEREAS, the City Council wishes to approve said capital
budget, Now Therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
That the capital budget for the Forest Creek Golf Course
submitted by Operator for 2002, attached hereto as Exhibit "A", is
hereby approved.
The City Council hereby finds and declares that written notice
of the date, hour, place and subject of the meeting at which this
Ordinance was adopted was posted and that such meeting was open to
the public as required by law at all times during which this
Ordinance and the subject matter hereof were discussed, considered
and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
READ and APPROVED on first reading this the C)41
day of
::ODMA\WORLDOX\0:\WDOX\ORDINANC\020124A1.WPD/sc
, 2002.
READ, APPROVED and ADOPTED on second reading this the
14 day of �1-4134-A-k- , 2002.
A, T ST:,
ROBERT A. STLUKA, ., Mayor
City of Round Rock, Texas
CHRISTINE R. MARTINEZ, City Secre
2
City of Round Rock
Forest Creek Golf Club
2001-2002 Proposed Capital Budget
Beginning Unreserved Fund Balance
REVENUES:
Green Fees transfer (6% 00-01, 01-02)
Transfer In From Golf Course Operator
Interest
Total Revenues
$ 16,719 $
80,806
0
4,848
16,719 $ 8,642
70,933 80,806
0 0
3,080 2,020
85,654 74,013 82,826
EXPENDITURES:
Improvements 0 0 0
Golf Course Equipment & Machinery 81,000 82,090 67,500
Contingency 18,531 0 22,499
Total Expenditures 99,531 82,090 89,999
Change In Operations (13,877) (8,077) (7,173)
Operating Reserves *1 2,842 0 1,469
Estimated Unreserved Fund Balance 9/30/02 $ 0 $ 8,642 $ 0
Notes
*1 - Reserves at 17% of beginning balance
EXHIBIT
2002
Forest Creek Golf Club / City of Round Rock Capital Budget
> Replace Fence @ Maintenance Yard $ 12,000
> Golf Course Restroom Renovation. $ 9,000
> EZ -Go Range Cart ..$ 5,500
> John Deere 35hp Tractor (x2) ..$32,000
> Olathe Blower $ 4,500
> Aerway $ 4,500
Total $ 67,500
Budgeted Green Fees - $1,126,000 Green Fees @ 6%
Budgeted Green Fees $ 1,346,768
6% of $1,346,768 $ 80,806
(.vNT1 N"
aex,Liiq
DATE: February 7, 2002
SUBJECT: City Council Meeting — February 14, 2002
ITEM: *12.A.1. Consider an ordinance adopting the Forest Creek Golf Course
Capital Budget. (Second Reading)
Resource: David Kautz, Finance Director
History: The City owns Forest Creek Golf course and has contracted with Golf Corp to
manage and operate the course. As part of operating the course, Golf Corp
prepares a capital budget for major improvements and equipment. The budget is
funded by 6% of green fees. The course has always been self-supporting and no
tax money or general revenues have been required to operate the course or to pay
debt service. The first reading of the ordinance was approved on January 24,
2002 and there have been no changes since the first reading.
Funding:
Cost: Please see attached budget
Source of funds: 6% of Green Fees
Outside Resources: Golf Corp (the golf course operator)
Impact/ Benefit: To maintain and improve the Forest Creek Golf Course, preserve the asset
and keep it competitive with other courses.
Public Comment: N/A
Sponsor: N/A