HomeMy WebLinkAbout1987-12-28 88-68 ORDER88-68
Introduced by Councilor Shubert, December 28, 1987
CITY OF BANGOR
(TITLE.) Wrber----------- Establishing enterprise Pond for Golf Course
Effective July 1, 1988
By the Cies Cauneil Of City Of Denver:
ORDERED,
TEAT the Fierance ➢irectoz is hereby directed to create an "Enterprise
Fond' for Car Course related revenues and expenses,
end Be It Further Ordered.
THAT any year in which revenues exceed expenditures in the Galf Course
enterprise fund, 25% of such excess shell be placed in the Golf Course
reserve account
unt with 75% being returned to the General Fond until such
time as the old Cold Course debt is extinguished.
Statement of Fact: It 1s apparent the Municipal Golf'Course can new
sustain
its awn operations without General load support. With 100% of its
revenue ing fro outside a , the beat accounting treatment
isto establish an enterprise fund
Title, '87 OEC 23 P5 W
Establishing Enterprise Fund for RLCEi. i
......................................' CILY CFBANGOR
CITY CLERK
Golf Conrse Effective Sulx 1 198
In City Council Oecarber 28,1987
vote to consider next netting
failai
vote 7 no 1 yea 1absent du and lea
voting yes //fi
Voting NO HSanchette,En93and. ..... 4r ............
TilNcelSaxl,Hhuber[,Hullivan,lle _ douvciluan
Ti
� Sawyer
Vote For Passage 7 Yes 1 No 1 Absent
voting Yen
Blanchette,IDgland,Frankel,8axl�8hubert,
Hallig No Cox,
voting No Cox,
Absent Sawyer ,
City'ty Cler��