TR-2015-49 APPROP FUNDS FROM GC TO GF - � r _ �if��-��'y.�sc �
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TR-2015-49
A RESOLUTION APPROPRIATING FUNDS FROM
GOLF COURSE RETAINED EARNINGS TO THE GENERAL FUND
(Sponsored by Councilor Christopher C.Johnson)
WHEREAS, the Agawam Municipal Golf Course currently has certified retained earnings
in the amount of$139,178.00;
WHEREAS, in Fiscal Year 2014 and Fiscal Year 2015, the General Fund provided the
Agawam Municipal Golf Course with $440,826.65 in direct funding assistance as set forth below
(not including the General Fund paving funds of$57,527.81 that were utilized to resurface the
golf course parking lot):
Resolution Amount Reason
TR-2014-3 $ 251,841.00 golf carts
TR-2014-45 $ 22,245.20 fund FY14 operating deficit
TR-2014-46 $ 91,000.00 supplement FY15 operating budget
TR-2015-31 $ 70,712.00 lawn mower
TO-2015-42 $ 5,028.45 pay "lost" FY15 bills
TOTAL S 440,826.65
WHEREAS, on each occasion that the Council appropriated money from the General
Fund to subsidize the Agawam Municipal Golf Course at the request of the Administration, it
was the desire of the Council that once the Golf Enterprise Fund had retained earnings, that the
General Fund would be repaid;
WHEREAS, the Commonwealth of Massachusetts Division of Local Services Enterprise
Fund Manual provides in pertinent part that enterprise fund retained earnings may be utilized
to. "reimburse to the General or other fund for subsidized capital costs of the enterprise not
already reimbursed for the two full, immediately prior, fiscal years";
WHEREAS, if the Council does not appropriate the current golf course retained earnings
during Fiscal Year 2016 to reimburse the General Fund for capital costs paid in Fiscal Year 2014,
it will lose the ability to repay even a portion of the $365,086.20 of taxpayer money utilized in
Fiscal Year 2014 to subsidize the Agawam Municipal Golf Course;
WHEREAS, it is in the best interests of the Town of Agawam to appropriate the Agawam
Municipal Golf Course certified retained earnings to reimburse the General Fund for subsidized
capital costs the General Fund paid during Fiscal Year 2014; and
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NOW THEREFORE, BE IT RESOLVED that the Agawam City Council hereby appropriates
the sum of $139,178.00 from Agawam Municipal Golf Course certified retained earnings to the
General Fund to reimburse the General Fund for subsidized capital costs paid by the General
Fund on behalf of the Agawam Municipal Golf Course in Fiscal Year 2014.
Dated this day of _ . 201—.
PER ORDER OF THE AGAWAM CITY COUNCIL
President, Agawam City Council
APPROVED AS TO FORM AND LEGALITY
Vincent Gioscia, City Solicitor