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2015-2034 CIP Funding Plan:Golf Course <br /> $1,000,000 <br /> $500,000 <br /> $- <br />2015201820212024202720302033 <br /> $(500,000) <br /> $(1,000,000) <br /> $(1,500,000) <br /> $(2,000,000) <br />RevenueExpenseCash Reserve <br />The City’sgolf coursehas experienced regular operating losses over the past decade.As a <br />result, the golf course’s cash available for capital improvements has dropped to only $200,000. <br />Based on the current CIP, the golf course will run out of money in 2016. It is strongly <br />recommended that a comprehensive financial analysis be performed in 2014 to assess the long- <br />term financial viability of the golf course. <br />Although not displayed above, the City’s Communications, Community Development,and <br />License Center capital replacement needs appear to be financially sustainable based on current <br />projections. <br />Funding Recommendations <br />On November 19, 2012 the City Council adopted Resolution #11027 which, along with an <br />accompanying staff memo, outlined the following CIP-related funding recommendations: <br />YearAmountFund/ DivisionDescription <br />2014$ 75,000Information SystemsAdd additional tax levy <br />2014200,000General FacilitiesAdd additional tax levy for skating center <br />201580,000Pathways MaintenanceAdd additional tax levy for pathway maint. <br />2015160,000Pavement Management ProgramRepurpose levy from Street Bond issue #25 <br />2016160,000Park Improvement ProgramAdd additional tax levy <br />2016150,000Pavement Management ProgramRepurpose levy from Street Bond issue #23 <br />2017160,000Pavement Management ProgramAdd additional tax levy <br />2018335,000General FacilitiesRepurposelevy from Arena Bond issue #28 <br />2018160,000Pavement Management ProgramAdd additional tax levy <br />2019200,000Pavement Management ProgramAdd additional tax levy <br />2020650,000Park Improvement ProgramRepurpose levy (partial) from Bond issue #27 <br />In adopting the resolution, it was noted that the referenced amounts did not account for <br />inflationary-type impacts and would need to be adjusted in future years.In addition, the <br />recommendations put forth in Resolution#11027did notaddress the long-termfunding gap in <br />Page 7of 9 <br />