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Item # 5.2. <br />ver <br />MEMORANDUM <br />TO: City Council <br />FROM: Lori Johnson, City Administrator <br />DATE: March 10, 2008 <br />SUBJECT: Update on Pinewood Golf Course Operations <br />We axe ready to start our third year of operating the Pinewood Golf Course. With two years <br />of operating experience and fmancial data behind us, it's a good time to review the fmancial <br />status and upcoming operating forecasts for the next fcw years. The golf course itself is in <br />excellent condition; we've heard many positive comments from the public about the <br />condition of the course and about the nitch it fills for young golfers just learning to play and <br />families and seniors who enjoy takutg their time on the course. <br />During last fall's budget discussions, we talked briefly about course's finances and changes <br />that were being proposed fox 2008. Again this year, we axe implementuig strategies to <br />improve the long range fmancial picture of the course. There were some unavoidable start- <br />up costs during the First two years that affected the bottom line. As cou recall from the <br />budget discussion, the only capital expenditure budget fox 2008 is lining the pond. This <br />should complete the urgent start-up expenditures. <br />On Monday, Tim Simon, Finance Director, will present the ending 2007 fmancial <br />information fox Pinewood and Bill Maextz, Parks and Recreation Director will give an <br />update on operations and use of the course. VVe will also discuss changes and improvements <br />that have been made to streamline the operations at the coarse and present fmancial <br />forecasts fox the next several years. Staff's goal is to continue to generate additional revenue <br />and implement strategies to control expenditures while still offering a great golf course fox <br />everyone to enjoy. <br />