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HomeMy WebLinkAbout05011986 GCMINUTFS OF ~ING OF GOLF COURSE ADVISORY BOARD - MAY 1,1986 MEETING WAS CALLED TO ORDER BY CHAIRMAN DON LIVINGSTON AT 4:00 P.M. PRESENT: CHAIRMAN DON LIVINGSTON, JOHN VAN ANTWERP, ANDREW GRF~RY, GEORGE PEPPER, RAY LADD. ABSENT: LYNN WRIGHT (EXCUSED). MOTION BY MR. VAN ANTWERP, SECONDED BY MR. PEPPER, TO APPROVE THE MINUTES OF THE MEETING OF MARCH 27. CARRIED. MOTION BY MR. PEPPER, SECONDED BY MR. GREGORY, TO APPROVE THE FINANCIAL STATEMENT FOR THE PERIOD ENDING 2/28/86. ROLL CALL VOTE: AYES: NAYS: MR. GRFf, ORY MR. PEPPER CHAIRMAN LIVINC~TON MR. VAN ANTWERP FINANCIAL STATEMENT FOR PERIOD ENDING 3/31 WILL BE APPROVED AT NEXT MEETING. THERE WAS A BRIEF DISCUSSION OF THE 6 MONTH FINANCIAL STATEMENT AND WHILE iT WAS GENERALLY AGREED THAT MORE REVENUE NEEDED TO BE GENERATFD SOMEHOW, MR. LADD REMARED ~/4AT HE WAS ONLY CONCERNED WITH THE BOTTOM LINE AND THE BOTTOM LINE IS THAT WE ARE MR. VAN ANTWERP COMPARED THE. FIRST SIX MONTHS OF LAST YEAR'S BUDGET WITH THIS YEAR'S. HE STATED THAT HE HAS A PROBLEM WITH THE WAY' IN WHICH THE FINANCIAL. STAT~S ARE MADE UP. HE FOUND MATHEMATICAL ERRORS AND PRESENTATION ERRORS. AT THE RATE WE'RE GOING, WE WILL MEET EXPENSES FOR THE YEAR. THE ONLY THING WE-'LL FALL SHORT ON IS TO GENERATE ENOUGH TO PUT INTO A DEPRECIATION ACCOUNT. WE ARE TAKING OUT OF CAPITALIZATION EVERY YEAR. WE NEED TO HAVE SOME LONG RANGE POLICY SO'THAT EACH YEAR WE WILL PUT ASIDE SO MUCH FOR DEPRECiATION OR WE WILL HAVE TO PAY OUT OF CAPITALIZ- ATION. OUR CAPITAL EXPENSES THIS YEAR SHOULD HAVE BEEN PAID BY DEPRECIATION THE YEAR BEFORE. WE EXTENDED OUR BOND ISSUE TO BUY MORE TRACTORS AND OTHER EQUIPMENT AND MAKE OTHER IMPROVEMENTS. IT IS NOT FEASIBLE TO REFINANCE 'THE GOLF COURSE EVERY FIVE YEARS AND EXTEND OUR INDEBTEDNESS. WE HAVE A $236,000. DEBT SERVICE. HE RF~ED EXPLORING REDUCING SOME OF ~ME DEBT SERVICE. WE HAVE MONEY FOR CLUB HOUSE IMPROlr~MENTS, ENIRANC~AY IMPROVEMENTS. WE SHOULD TAKE THAT MONEY AND RETIRE THE BONDS AND GET OFF THE ANNUAL DEBT SERVICE. WE NEED TO REDUCE ANY EXPENDII~ WE CAN. NEED TO PROMOTE MORE TRAFFIC ON THE GOLF COURSE. RECOMMEND THAT A MORATORIUM BE PLACED ON ANY CAPITAL EXPENDITURES THAT HAVE BE~N BUDGETED TO KEEP OUR DEBTS TO A MINIMUM. THE $236,000. DEBT SERVICE DOES NOT INCLUDE TH~ $50,000. RENT.. MR. LADD MENTIONED IH_AT ONE OF THE REASONS THE BOND WAS APPROVED IS 'THAT WE WOULD DO ~ ~HE THINGS ~HAT ARE AN INTFf~ PART OF THE BOND. ISSUE -:THE ENITJnNCE WAY, ETC.., WHICH AMO~ TO $190,000... PERHAPS WE COULD PAY OFF THE INTEREST AT THE AIRPORT WHICH IS ABOUT. $10.-15,000~ PER YEAR FOR THE NEXT FIVE YEARS. WE COULD POSSIBLY KEEP THE. RATES THE SAME OR EVEN REDUCE THEM. MR. VAN ANTWERP POINTED OUT IHAT WE ARE GOING TO NEED TO REPLACE THE IRRIGATION SYSTEM, PUMPS, CARTS, TRACTORS. THE SUCCESS OF THE GOLF COURSE DEPENDS ON FUTURE PLANNING. MR. LADD STATED THAT BARRING AN EMERG~ ~ WERE NO MAJOR CAPITAL OUTLAYS ANTICIPATED EXCEPT FOR THE CLUB HOUSE CARPET WHICH MUST BE TAKEN CARE OF NOW AND WHICH IS IN THE BUDGET. MOTION BY MR. VAN ANTWERP, SECONDED BY MR. PEPPER, TO RECOMMEND THAT NO MORE CAPITAL EXPENDITURES BE MADE IN THIS FISCAL YEAR WITH THE EXCEPTION'OF CART PATHS AND CLUB HOUSE CARPETING; THAT ALL EFFORTS .BE MADE' TO REDUCE DEBT SERVICE; THAT NO CONSTRUCTION MONEY ' SET ASIDE FOR CLUB HOUSE AND ENTRANCE WAY' BE SPENT UNTIL IT IS DETERMINED WHETHER DEBT SERVICE'CAN BE REDUCED. ROLL CALL VOTE: AYES: MR. VAN ANTWERP MR. GRt~M)RY MR. PEPPER CHAIRMAN LIVINGSTON NAYS: NONE. CARRIED. MR. VAN ANTWERP MADE THE FOLLOWING RECOI~4ENDATIONS FOR REVISION OF THE FINANCIAL STATEMENTS: MONTHLY AND YEAR TO DATE SHOULD ADD UP, SHOULD MAKE SOME KIND OF A NOTE WHEN CORRECTIONS ARE MADE; DEBT SERVICE AND RENT SHOULD BE ON A MONTHLY BASIS; SHOULD SET UP A DEPRECIATION SCHEDULE - NEED AN. INVENTORY, A LIFE SPAN, HOW MUCH IS IT GOING TO COST EVERY MONTH TO RUN IRRIGATION SYSTEM AS FAR AS DEPRECIATION IS CON- CERNED AND OUR TRACTORS, ETC. THIS IS SOMETHING THAT CAN'T BE DONE QUICKLY, BUT A FULL DEPRECIATION SCHEDULE SHOULD BE SET UP. ON MAJOR ITEMS LIKE AN ELECTRIC BiLL NOT PAID IN A PARTI~ MONTH,' TI{ERE SHOULD BE AN ESTIMATED FIGURE. .ANYTHING REALLY BIG LIKE A ONE TIME INSURANCE. PAYMENT, THERE SHOULD BE A FOOTNOTE TO EXPLAIN. WE NEED TO HAVE AN ACCURATE MONTHLY ~STATt94ENT. MOTION BY MR. VAN ANTWERP, SECONDED BY MR. PEPPER, THAT THE PREVIOUS DISCUSSED ITEMS TO GO ON THE FINANCIAL STATEMENTS BE ADOPTED. CARRIED. MOTION BY MR. VAN ANTWERP,' SECONDED BY MR. GREGORY, TO FOLLOW MR. LADD'S RECOMMEND- ATION ON CORPORATE MEMBERSHIPS TO JUST DROP IT. ROLL CALL VOTE: AYES: MR. VAN ANTWERP MR. GRt~M)RY MR, PEPPER CHAIRMAN LIVINGSTON NAYS: NONE. CARRIED. MOTION BY MR. PEPPER, SECONDED BY MR. G~RY, TO RECOMMEND THATiA.__M~___I_t~3M OF 20 MEMBERSHIPS AT THE GOLF COURSE BE GRANTED TO SEBASTIAN LAKES RESIDENTS FOR ~HIS YEAR AND NEXT YEAR; RATE TO BE PAID SAME AS ALL OTHER MEMBERSHIPS. CARRIED. MR. LADD STATED THAT THE SUMMER RATES AS APPROVED IN THE BUDGET WENT INTO EFFECT TODAY AND WILL BE ADVERTISED - $14. MONDAY THRU .FRIDAY - LUNCH, GREENS FEE AND CART; $10.. AFTER 1:00 P.M.; $7. AFTER 4:00 P.M. (CARTS MOST BE IN BY 7:30); WEEKEND RATE $17. MR. PEPPER NOMINATED EDDIE MEYER AS AN ALTERNATE MEMBER; MR. VAN ANTWERP NOMINATED ROBERT FAUST. NOMINATIONS CLOSED. ROLL CALL VOTE: MR. VAN ANTWERP VOTED FOR MR. FAUST MR. G~RY, MR. PEPPER AND CHAIRMAN LIVINGSTON VOTED FOR MR, MEYER. MR. MEYER APPROVED AS THE ALTERNATE MEMBER. MR. VAN ANTWERP MENTIONED THAT THE RANGE BALL SITUATION IS DEPLORABLE. MR. LADD SAID HE WOULD CHANGE THE BALLS TOMORROW MORNING. MR. VAN ANTWERP STATED THERE SHOULD BE SOME INFORMATION SIGNS POSTED. PEOPLE COME IN AFTER THE PRO SHOP IS 'CLOSED AND DON'T KNOW WHAT TO DO TO PLAY GOLF. MR. LADD AGREED AND ADDED HE WOULD BE TALKING TO A SIGN PAINTER TOMORROW. -2- iN CONNECTION WITH THE POLICE INVESTIGATION REPORT R~k~RDING DISCREPANCIES IN RESIDENT MEMBERSHIPS, IT WAS POINTED OUT THAT THERE ARE NO R~ AND RF~TIONS SPELLII~3 OUT THE REQUIREMENTS. IT WAS AGREED THAT RULES AND REGULATIONS NEED TO BE DRAWN UP COVERING THiS MATTER AND O/MER AREAS THAT NEED TO BE STRAIGHTENED OUT. MEETING ADJOURNED AT 5:41 P.M. -3- GOLF COURSE ADVISORY BOARD MAY 1, 1986 - 4:00 P.M. AGENDA CALL TO ORDER ROLL CALL APPROVE MINUTES OF MEETING OF MARCH 27 APPROVE FINANCIAL STATEMENTS FOR PERIODS ENDING 2/28 & 3/31 OLD BUSINESS: NEW BUSINESS: 6 MONTH BUDGET REVIEW RECOMMENDATIONS FOR REVISION OF FINANCIAL STATEMENTS CORPORATE MEMBERSHIPS ANNUAL MEMBERSHIP - SEBASTIAN LAKES SUMMER RATES RECOMMEND TO CITY COUNCIL APPOINTMENT OF ALTERNATE MEMBER ADJOURN