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Oval Task Force Final Report Oval Task Force Fin al Re o rt p I. Executive Summary A. Int�oduction � This report outlines the efforts, findings and recommendations of the Oval Task Force • The Oval Task Force was sanctioned by the Roseville City Council January 24 to address the long term financial viability of the Oval. • In February, selection of Task Force members was made � The Task Force is a volunteer group, consisting of 18 members representing: o Skating Center user groups o Parks and Recreation Commission o Minnesota Amateur Sports Commission (MASC) o Roseville Visitors Association o "At-large" participants o Roseville City Council o Roseville City Staff Park and Recreation ■ Finance • The Task Force first met March 3rd, 2005; has subsequently met 10 times; and is estimated to have contributed a combine total of 500 volunteer hours • Upon City Council direction in its May 9th meeting, the Task Force adjusted its schedule and content to meet the deadline of turning in its final report on June 20th, to coincide with the Council's decision on whether to proceed with Oval repairs • This report serves as Task Force's final deliverable B. Task Fo�ce Scope, App�oach and Obse�vations � The Task Force defined the Oval's financial viability as requiring � 1��},�?�i��f to cover the operational cost shortfall and $150,000/yrto cover capitalization/d�preciation • A ca�italization/de�reciation fund had never existed for the Oval, but its importance cannot be understated, witness the current chiller repair need • The Task Force is sensitive to the Roseville citizen sentiment expressed over previous costs the city has borne. There is no question that previous costs have been substantial. But such costs must be considered "sunk costs" -- what is important are the future costs involved, and whether the benefits from the Oval outweigh those expected future costs. The Task Force in its best efforts must accurately assess what the future costs may be, and how best they can be addressed • After defining the above target amounts, the Task Force examined a series of revenue- generating or cost-savings "themes", with the intent of reducing the burden on Roseville property taxpayers Oval Task Force F i n a I Report Page 2 cf 29