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| Resolution | NO. 79 |
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| | | | | | | | | A Resolution to amend the Deficit Elimination Plan for the Kellogg Arena Fund. | | | |
| | | | | | | | | BATTLE CREEK, MICHIGAN - 2/3/2015 | | | |
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Resolved by the Commission of the City of Battle Creek:
The Kellogg Arena deficit elimination plan approved January 14, 2014 is amended as shown on the attached schedule. The plan is extended from fiscal year ending June 30, 2015 to June 30, 2018.
I, Victoria Houser, City Clerk of the City of Battle Creek, hereby certify the above and foregoing is a true and correct copy of a Resolution adopted by the Battle Creek City Commission at a Regular meeting held on February 3, 2015.
Victoria Houser
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| | | | | | | | | Battle Creek City Commission
2/3/2015
Action Summary | | | |
| | | | | | | | | | Staff Member: | Linda A. Morrison, Finance Director | | Department: | Finance |
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| | | | | | | | | SUMMARY
| A Resolution to amend the Deficit Elimination Plan for the Kellogg Arena Fund.
| BUDGETARY CONSIDERATIONS
| | This deficit elimination plan brings the Kellogg Arena out of a deficit position as of June 30, 2018. The year ending June 30, 2014 reflected revenues over expenses in the amount of $36,284. This amount is short of the originally adopted deficit elimination plan by $44,267, thus requiring the extension of the plan through June 30, 2018. |
HISTORY, BACKGROUND and DISCUSSION
| During the year ending June 30, 2013 the Kellogg Arena had expenses over revenues in the amount of $186,757 causing a deficit fund balance. The adoption of a two year deficit elimination plan was approved by the City Commission with resolution number 64 dated January 14, 2014.
| DISCUSSION OF THE ISSUE
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| POSITIONS
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