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L <br />Louisville <br />COLORADO • S1NC N - <br />CITY COUNCIL COMMUNICATION <br />AGENDA ITEM 4 <br />SUBJECT: <br />DATE: <br />PRESENTED BY: <br />GOLF COURSE FINANCIALS AND GOLF COURSE ADVISORY <br />BOARD ROLE <br />AUGUST 23, 2016 <br />JOE STEVENS, DIRECTOR, PARKS & RECREATION <br />DAVID BARIL, GOLF COURSE HEAD PROFESSIONAL <br />KEN GAMBON, CHAIR, GOLF COURSE ADVISORY BOARD <br />SUMMARY: <br />Coal Creek Golf Course is in its first full -year of operations since its June 30, 2015 <br />Grand Re -Opening following comprehensive renovation as a result of the September <br />2013 500 -year flood event. Accompanying this council communication, please find <br />information summarizing revenue and expenses through July 2016. To briefly <br />summarize, Coal Creek Golf Course has generated $841,627 in revenue and expenses <br />of $709,771 or positive cash flow of $131,856 through July 31, 2016. The bad news is <br />that revenues have not met projections; the good news is that expenses are also less <br />than projected resulting in positive cash flow through the first seven months of 2016. <br />Staff and Golf Course Advisory Board (GCAB) members will be present to share <br />insights and observations on Golf Course operations. The 2016 operating budget <br />includes the transfer of $225,000 to the Wastewater Utility Fund. Repayment of an <br />outstanding balance of $1,138,916 has been held in abeyance since 2013. <br />The Golf Course Advisory Board would also like to hear City Council's perspective on <br />the role of Advisory Board members as they work with staff on a Coal Creek Golf <br />Course Strategic Plan (draft proposal attached). Dennis Maloney, City Council Liaison <br />to the GCAB, has encouraged the GCAB to work with staff and the community to <br />develop a strategic plan that will help chart golf course direction over the next decade. <br />The GCAB would appreciate feedback on this proposal as well as other roles City <br />Council members envision for GCAB. <br />FISCAL IMPACT: <br />N/A <br />RECOMMENDATION: <br />Discussion <br />ATTACHMENT(S): <br />1. Coal Creek Golf Course Financials <br />2. Graphs <br />3. Draft Coal Creek Golf Course Strategic Plan <br />CITY COUNCIL COMMUNICATION <br />3 <br />