2006_0724_Packet - Laserfiche WebLink

Home

1 1 The Roseville Skating Center works with a million dollar operating budget. Of this budget, approximately 10% is tax supported. The Skating Center has long been a community lightning rod when financial responsibility is discussed. The Skating Center is often mentioned as an area that may experience budget cuts when reductions or reallocations are proposed. The Roseville Skating Center is a tremendous community amenity; it is also a fabulous regional resource and a great national and international sporting venue. Originally, the Roseville Skating Center was perceived to be financiallyviable. The financial struggles and community concerns were not the result of mismanagement, but the result of inaccurate financial assumptions, less than expected state bonding support, changes in tax laws eliminated lodging and restraint tax proceeds, and revenue supporting amenities that never materialized. The OVAL Task Force was responsible for a very proactive funding plan that addresses the immediate funding issue of how to cover the costs to repair the OVAL and the long-range funding issue of how to reduce the level of City tax based funding needed to operate the OVAL. The OVAL fiu7ding package is best described as; very fortunate, quite ambitious, and all-inclusive. Members of the Task Force were influential in securing a million dollar gift from the Guidant Foundation. The Guidant donation was dedicated to repairing the OVAL chiller and to establishing an endowment that will insure future financial support for the facility. All involved agree that the OVAL was very fortunate to be selected by Guidant as the recipient of this large financial gift. The Guidant gift also led to the revitalization of the Friends of the OVAL Foundation (FOF). FOF has pledged to raise an additional $500,000, matching the Guidant non-repair dedicated funds, establishing a million dollar endowment that will assist in supporting the OVAL. The Friends of the OVAL Foundation has raised over 40% of its pledge in the first ten months and has set an ambitious tirneline of 24 months to reach their initial goal. Many Friends board members were involved in the Task Force process, their strong commitment to their respected ice sport, their loyalty to the OVAL and their pride as a group is the driving force behind the success of the Task Force and FOF. Many Task Force hours were dedicated to discussions on operating efficiencies and increased revenue streams. The evaluation process was all-inclusive and everything was considered, with financial responsibilitiesbeing shared equallyby all users, by each facility component, by community members as well as non-residents. In the end, the OVAL Task Force Report included a Business Model that included; o Context ... Scope of Skating Center within P&R and City Budgets and Taxes The Skating Center Budget equates to 3% of the overall City Budget and 27% of the Parks and Recreation Budget. The Skating Center Tax Levy and Property Tax Impact totals .9% of the overall City Levy and 7% of the Parks and Recreation allocation. o Hard Dollar Costs ... Addressing projected Operating and CapitalizationCosts ConservativeProjections addressed 9 areas of financial responsibilitythat reduced the City of Roseville contributionto the Skating Center by 60%. 2006 MRPA Award of Excellence Roseville Skating Center/O�AL TaskForce