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REQUEST ~R CITY COUNCIL AGENDA ITEM <br />Agenda Date Requested: P~9ay 15, 1989 <br />Requested By: <br />Exhibits: <br />John Joerns <br />Department: <br />Report Resolution <br />1) Remaining Capital Improvements to Golf Course <br />SUMMARY ~ RECOMMENDATION <br />Ordinance <br />Since the implementation of the FY 87-88 Budget, the Golf Course Capital <br />Improvement Fund (1986 G.O. Bonds) has accur,~ulated an additional $53,189 in <br />interest earnings through April 1989. <br />Alex Osmond has prepared a budget that addresses the most pressinn capital <br />needs at the golf course. The allocation of the additional interest earnings <br />~vill allow the City to pursue the completion of these items this fiscal year. <br />Staff requests that Council allocate $30,700 of the additional interest earned <br />for Capital Improvements at the Golf Course. <br />Revenue Summary Fund 05 - Golf Course Capital Improvement Fund <br />G.O. Bonds $4,250,000 <br />Interest Income Committed (87-88 Budget) 235,000 <br />General Fund Transfer (87-88 Budget) 205,000 <br />Estimated Interest Income (FY 87-88) 50,000 <br />Subtotal: <br />Additional Interest Income (FY 87-88) $ 1,950 <br />Interest Income (10/1/88 - 4/31/89) 28,750 <br />TOTAL: <br />Action Required by Council: <br />$4,740,000 <br />$4,770,700 <br />Allocate $30,700 in interest earnings (1986 Golf Course Improvement Fund) for various <br />capital improvements to the golf course. <br />Availability of Funds: <br />General Fund <br />-~- Capital Improvement <br />Other <br />Account Number: <br />Approved for City Council Agenda <br />Q -~ ~~ <br />Robert T. Herrera <br />City Manager <br />Water/Wastewater <br />General Revenue Sharing <br />Funds Available: _ YES _ NO <br />s~,,lgq. <br />DATE <br />Administration <br />