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LCitiyof <br />Louisville <br />Golf Course Advisory Board Minutes <br />April 18 2016 <br />Page 5 of 5 <br />COLORADO • SINCE 1878 <br />monitor when the payback can be demonstrated through increased club fitting <br />revenue. David D pointed out that we have a $750K investment in new <br />machinery that has an expected working life of 5 — 7 years depending on <br />usage and maintenance practices and this needs funds to be reserved for <br />replacement. In addition, the golf course must now pay the city $175K <br />annually for water in 2016 with increases expected in subsequent years in <br />addition to continuing to paying $220K in 2016 toward the remaining $800K <br />debt to the Waste Water Fund. <br />c) Council directed Staff to work with the Board to produce a 5 Year Operating <br />plan for the golf course. Ken suggested that, like a HOA, there should also be <br />a 10 and 20 -year outlook for Tong -term capital investments. <br />9. Proposed Agenda for our 5/16 Meeting <br />Our next meeting will be the held on May 18th in the Library at 6:30pm. <br />Proposed subjects for discussion are <br />• Update on course conditions <br />• Update on the F &B operation <br />• Discussion of outline 2017 Budget <br />• Discussion of 10 -year Operating Plan <br />• Discussion of marketing metrics <br />• Update on financial dashboard <br />8. Adjourn <br />There being no further business, the meeting was adjourned at 8:40pm. Motion to <br />adjourn proposed by Sandy Stewart and seconded by Cory Nickerson. <br />Parks and Recreation Department • 749 Main Street • Louisville, CO 80027 <br />(303) 335-4735 • FAX (303) 335-4738 <br />www.Iouisvilleco.gov <br />Parks Recreation Senior Services Open Space Forestry Trails Golf <br />7 <br />