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4. A. 4.
Nagesh Chopra, Finance
Approval of Supplemental Appropriation for Park Tax Fund; $320,000.
The weather has not been conducive for activities for the year to date for either Arcadia Lake or Kickingbird Golf. Revenues are down for both activities this year. Through April 9th, fees from charges, miscellaneous charges, and other revenue sources were down by $57,845 from last year at Arcadia Lake. Total revenues at Kickingbird Golf Course are down $141,000 from last year through April 9th.
We have not transferred money from Park Tax Fund to Arcadia Lake during the last 7 budget years, at least. The last transfer from Park Tax to Kickingbird Golf was in FY 2016. This action should allow both operations to end the fiscal year in a positive position for unrestricted cash.
Immediate upon approval.
Approval of supplemental appropriation.
Staff recommends approval.
Motion to approve.
Posted City Council agenda.
Budgeted Item Y/N or N/A:
Park Tax Fund Reserves
To: Park Tax Fund Transfers Out 116044-8805 $320,000
To: Arcadia Lake Transfers In 567037-7900 $160,000
To: Kickingbird Golf Course Transfers In 570750-7900 $160,000
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