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ANALYSIS <br />The annual debt service for the 1988/89 fiscal year is $201,360. <br />Staff has set aside $285,260 to pay for this debt service. The extra <br />funds represent an attempt to escrow an additional year's debt <br />service so that pledged revenue from the Jai -Alai Fronton (amounting <br />to $446,500) need- not be moved from the General Fund to the Golf <br />Course Fund. <br />At this time, golf course revenues are exceeding projections by over <br />$40,000. Staff feels that summer revenue will meet projection. <br />RECO14MENDATION <br />Staff would like the permission of the Board of County Commissioners <br />to apply any surplus golf course revenue to the purchase of the three <br />improvements listed in the Description.. Should there not be enough <br />revenue to cover the full costs of these improvements, staff would <br />also like permission to use up to $50,000 of the excess funds <br />escrowed in the debt service account to make up the difference. <br />Commissioner Scurlock did not have a problem with the budget <br />request, but just wanted to point out that we have made every <br />effort to make the golf course self-supporting. The actual <br />revenue that Is pledged to this issue is really the pari-mutuel <br />monies, and we have structured it all. along so that we have some <br />surplus. He did feel the improvements listed are needed, but <br />urged that we spend money out of the surplus slowly and avoid <br />having to go to the pari-mutuel money. <br />Golf Director Bob Komarinetz explained that the idea is that <br />they wilt proceed in order. On June 1st, they will look at the <br />numbers again. If they are still favorable, they will go ahead <br />as planned, but if there is a sharp decline, they will hold off. <br />Commissioner Bird agreed with the need to be cautious, but <br />stressed that the rain shelter/comfort stations are especially <br />needed and have been needed since the day the golf course opened <br />both as a safety and sanitary factor. He advised that actually <br />the golf course is running about $100,000 in revenue ahead of <br />last year, which is about $40,000 above what Director Komarinetz <br />projected, and he would hate to see us wait until June 1st to <br />start the process to build the rain shelters since we have a <br />really serious lightning problem on the course. He noted that we <br />already have detailed plans for these improvements. <br />5 <br />WAR 21 1989 <br />BOOK .76 FAGE39 397 <br />