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-� D�A�T for Rosevillec�ty Council-- <br />--7�� Reading, June 13,2005 <br />Oval Task Force <br />Fin al Re o rt <br />p <br />I. Executive Summary <br />A. Introduction <br />• This report outlines the efforts, findings and recommendations of the Oval Task Force <br />• The Oval Task Force was sanctioned by the Roseville City Council January 24 to address the <br />long tenn �i��ancial viability of the Oval. <br />* In February, selection of Task Force members was made <br />• The Task Force is a volunteer group, consisting of 18 members representing: <br />o Skating Center user groups <br />o Parks and Recreation Commission <br />o Minnesota Amateur Sports Commission (MASC) <br />o Roseville Visitors Association <br />o "At-large" participants <br />o Roseville City Council <br />o Roseville City Staff <br />■ Park and Recreation <br />■ Finance <br />• The Task Force first met March 3rd, 2005; has subsequently met 10 times, and is estimated <br />to have contributed a combine total of 500 volunteer hours <br />• Upon City Council direction in its May 9th meeting, the Task Forc� adjusted its schedule and <br />content to meet the deadline of turning in its final report on June 20th, to coincide with the <br />Council's decision on whether to proceed with Oval repairs <br />• This report serves as Task Force's final deliverable <br />B. Task Force Scope, Approach and Observations <br />• The Task Force defined the Oval's financial viability as requiring $1 D0,400/yr to cover the <br />operational cost shortfall and $150,OOO/yr to cover capitalizationidepreciation <br />• A capitalizationidepreciation fund had never existed for the Oval, but its importance cannot <br />be understated, wimess the current chiller repair need <br />• The Task Force is sensitive to the Roseville citizen sentiment expressed over previous costs <br />the city has borne. There is no question that previous costs have been substantial. But such <br />costs must be considered "sunk costs" w- what is important are the future costs involved, and <br />whether the benefits from the Oval outweigh those expected future costs. The Task Force in <br />its best efforts must accurately assess what the future costs may be, and how best they can be <br />addressed <br />* After defining the above target amounts, the Task Force examined a series of revenue�- <br />generating or cost-savings "themes", with the intent of reducing the burden on Roseville <br />property taxpayers <br />Oval Task Force Final Report Page 2 of 29 <br />