On Capital and Enterprise Funds I read the MPRB 2003 audit report and recall that some enterprise funds were transferred to operations. Enterprise funds were mostly from golf courses and those revenues were down.
Golf course revenues were pledged to back the $14 million in bonds at Fort Snelling. Debt service is $1 million a year - paid from golf revenues (enterprise fund). The 13 soccer and ball fields at Fort Snelling were built on land owned by the MN Dept of Natural Resources (DNR). The base annual lease payment from MPRB to DNR is a little over $55,000 plus DNR gets a percentage of revenues. In 2003, the lease payment to DNR was $124,000+. In 2003, operating Fort Snelling Neiman Center was a net loss of $75,000. So far in 2004, we know that the Fort Snelling Neiman Center has $2.5 million in liens, still unresolved, filed against the 201 Building (the vacant brick hippodrome). Unless resolved by 12/31, this liability will show up on the 2004 balance sheet. Shawne FitzGerald Powderhorn REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
