Finance Committee Agenda and Packet 2017 10 16

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City Council Finance Committee Meeting Minutes 09/18/17 Page 3 of 13 ENTERPRISE DASHBOARDS The Finance Committee Members reviewed the dashboard provided by the Golf Course. Finance Committee Chairperson Stolzmann stated that a draft letter from the Finance Committee regarding the Enterprise Dashboards would be discussed at the next Finance Committee Meeting in October. Member Stolzmann asked Head Golf Pro David Baril if he had received any feedback regarding the sign on Highway 36. Mr. Baril stated that people have mentioned the sign and that it could be bigger, but that it would be hard to say whether or not there has been any increase in golf course business due to the sign. David Baril stated that the sub -title under Total Expenditures on the Golf Course Dashboard should read Expenses Per Round and not Capital Reserves. The reports and corresponding narrative can be located in the packet of the September 18, 2017 Finance Committee Meeting. EQUIPMENT REPLACEMENT FOR COAL CREEK GOLF COURSE Director of Parks and Recreation Joe Stevens presented to the Finance Committee a projection of the Golf Course revenues and a list of maintenance equipment which is proposed to lease beginning in 2021. Golf Course Superintendent David Dean reviewed with the Finance Committee the costs and benefits of a 5 -year leasing plan of the listed equipment, noting the City would actually make lease payments for four years with a $1 buy-out at the end of year five. Mr. Dean stated the option to trade-in any equipment is most beneficial in year five or six. Mayor Muckle stated that it would be advantageous to stagger any equipment leases or purchases so as to not be replacing all the equipment every 5-6 years. Finance Committee Member Maloney stated that it was not his intent to determine whether or not staff should pursue the lease or purchase options for the noted equipment, and that he would defer to the recommendation of staff. Member Maloney stated that the purpose of the initial Finance Committee request to review a long-term plan was to specifically address any capital needs above and beyond those the Enterprise Fund can afford. 4