City Council Minutes 1991 11 06 - Laserfiche WebLink

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...p Sackett: That is something I would be interested in, too. A lot of people talk about the debt around town, but unless they know the debt to equity they don't know whether we have too much debt or not. I'd like to look at that before the end of the year. Brand: I believe that is in the audit from last year and the management letter. We have a very healthy... Asti-Caranci: We need to update that figure because at this point in the year we have pretty much made all our 1991 debt payments. Tonight you approved to pay two golf course leases early. That ratio should be different now. Sackett: Do you know how many days cash we actually have on hand? Those are important things that we can ask about at our next meeting. Asti-Caranci: A lot of that is put in our financial statement at year end. I could get you that information as to where we are at this point. Sackett: The talk around town is that the City is horribly in debt and when I read the balance sheet from the audit statement, I felt like our debt to equity ratio was good. I think when you look at the budget the primary questions you have are is our net worth going down or is it improving with this budget. I think that it is improving with the budget. I'm not sure to what degree. Howard: The only problem I have with the golf course funding is the $100,000.00 for expansion. My problem occurs because of the statement made by the management corporation essentially not giving any rationale for the expansion. They gave a reasonable rationale for repair of the course and for getting more capital for replacement of facilities. I don't feel that they have adequately covered the expansion. Other than that large item, I think this budget looks excellent. If you could give me your rationale on the $100,000.00 expansion of the golf course clubhouse. Ott: The primary rationale that we have for proposing the 10