Finance Committee Agenda and Packet 2016 01 19

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City Council Finance Committee Meeting Minutes 12/14/15 Page 4 of 7 Council Member Maloney stated that he liked the two views of data provided by the Golf Course; the per -round data and the per - person data. Council Member Stolzmann stated that in addition to green fee data, golf cart, driving range and food and beverage revenue should be incorporated. Member Maloney stated that he would like to see a monthly report that includes the budget, current estimates and actual for the various metrics Member Stolzmann mentioned. The Committee Members agreed that the reporting for the Golf Course is a work - in- progress, and that initially, they would like to see reports monthly for a while until the proper analysis can be made to set effective key metrics, measure marketing efforts, and determine what is attainable and able to be managed operationally. Member Stolzmann reiterated the importance of being able to measure the efforts made with the resulting outcomes. City Manager Fleming stated he had performed some rough estimates regarding a break -even point for the golf course, and that his analysis pointed to $52 /per round, at 32,000 rounds. There was also discussion of maximizing the capacity of the Golf Course, how that would be determined, and how to balance that capacity with the physical integrity of the course itself. The financials, metrics, and corresponding narrative can be located in the packet of the December 14, 2015 Finance Committee Meeting. 2015 AND 2016 BUDGET AMENDMENTS Finance Director, Kevin Watson presented a draft of a Resolution to amend the 2015 budget by amending the appropriations in the Peg Fees Fund, and a draft of a Resolution to amend the 2016 budget by amending the appropriations and budgeted revenue in the Urban Revitalization District Fund. The Finance Director and Finance Committee Members discussed the timing issues related to the Urban Renewal amendment. Member Stolzmann asked why the Urban Revitalization District Fund is included in the budget. Director Watson stated that is used to be separate and prepared by the Louisville Revitalization Committee (LRC), since it is a separate entity. The Finance Committee was in agreement and that the entity not be included in future budgets of the City. The Resolutions and corresponding narrative can be located in the packet of the December 14, 2015 Finance Committee Meeting. FEES, RATES, AND CHARGES, EFFECTIVE JANUARY 1, 2016