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D�paxtment: Parks �;Recreatian <br />Policy Ta.tle: Golf Course - Financial. Operation <br />�:� ._ <br />Back ro�d Statement: In �967, a bond �.ssue was approved by the voters for <br />• , ta acqulre the Roseva.].le Golf Course. This course was in existence <br />for siac years priar to zahen the City act{uired it. The bond issue zncluded <br />�275,Q00 for acquisition ana $15.,Q00 for equipment and operating capital. The <br />banci issue was promoted on the basis that the ga].� course would be �axgely self- <br />supporting. Wi�h the exception of twa y�ars (1969 - Canstru.cti�n Coun�y �ad g_Z <br />and 1.972 - new Clubhouse) the golf course revenues have covered opexatianal. <br />exp�nses and deb � service requiremenfis. <br />Pol� Statement. It 3s the palicy o� the City ta operate the golf �ourse so <br />tTiat revenues trom �ts several acta.vities sha.11 be sufficient to cover operational <br />� expenses and debt service r�equirements. Revenues a.n excess of o�perational expenses <br />and debt service requirements sha11 be rese�d for current year unanticipated <br />maintenance and future year's anticipated major replacements or new capata.� <br />� -�: improvements. <br />��Frocedure S�atement. The policy objective will be imp3ern�nted by exercising - <br />. strzn.gent management control over expendituxes, aggressive pxomotzon of �mschec�uled - <br />gol� ��me, opexa�ion of the golf clubhouse, analyzing and proje�ting future capital <br />needs and reco�nding such xates and charges that wi.1.1 pravzde the necessary <br />revenues to sustain ��s opexational e�cpenses and debt sex-vace requiremenis. <br />`, A�tha�ri� . The present pracedure for increasing rates and charges has been �hrough <br />annua� budget process. Adoption of the buclget has been the basis for ir►�lementing <br />�`"':r: such rate increases by the Park and Recreation Director. <br />� <br />Reviewed by Co�ci.l on 3-21-77 <br />