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<br /> I. ' . <br /> I <br /> Ie Reservation of Ice Time <br /> MASC will operate a central reservation system for the booking of ice time. It is assumed that <br /> use by certain entities (local schools, area hockey boosters, etc.) will be designated as <br /> I "belonging" to the appropriate joint party. Other call-in reservations will be allocated to the <br /> appropriate joint party by address or if not within a participant's area, credit for the reservation <br /> will be split equally among the five parties. <br /> I Annual Operating Budget <br /> I Each year an operating budget would be developed for the facility by MASC. The budget is <br /> subject to approval by the parties through their membership on a board of directors. Once a <br /> balanced budget is approved, if a deficit occurs it will be the financial responsibility of MASC. <br /> I If an unbalanced budget is approved which incorporates a deficit, responsibility for the deficit <br /> will be shared among the parties. <br /> I Funding of Reserves <br /> Reserves should be funded for both operations and repair and replacement. The board will <br /> I have the responsibility for determining a reasonable level of funding and a mechanism for <br /> providing for funds. <br /> Ie <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> Ie <br /> I DRAFT REPORT 5/30/96 Page 16 <br />