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Page 69 of 73 <br /> <br /> Identifying, developing, and optimizing program and facility funding options and potential <br />o Grants <br />o Corporate support <br />o Partnership funding opportunities <br />o Advertising and Sponsorship <br /> Cash and financial support <br /> Product and services Value-in-Kind (VIK) donations <br />o Community support <br />o Private philanthropy as needed <br /> Develop a budgeting plan or reserve fund for long term capital replacement and maintenance <br />for future repairs, component replacement, and other unexpected financial costs. <br /> <br />Risks for Failure <br /> Failure to build sufficient cash reserve or long term replacement fund or plan for future <br />equipment replacement or capital facility repair <br /> Failure to develop fee structure appropriate for market and meeting overall facility financial <br />and program objectives <br />o Market rates <br />o Appropriate discounts for residents, members, etc. <br />o Analysis of revenue needs <br /> Failure to invest sufficiently in key success factors <br />o Marketing <br />o Key management positions <br />o Staff training and development <br />o Air handling and Water handling technology and system <br /> <br /> Rec and Community Center Plan <br /> The initial framework for these Financial Keys to Success have been incorporated in the ISG <br />Study. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />