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1 <br />CITY COUNCIL <br />REGULAR MEETING STAFF REPORT <br />AGENDA ITEM 1G <br />STAFF ORIGINATOR: Hannah Lynch, Finance Director <br />MEETING DATE: March 11, 2024 <br />TOPIC: Approving 2023 Transfer to the Rookery Activity Center <br />VOTE REQUIRED: 3/5 <br />______________________________________________________________________________ <br />BACKGROUND <br />Staff presented a Rookery financial update at the March 4, 2024 Work Session. The Rookery <br />Activity Center opened to the public in the Spring 2022 and completed its first full fiscal year in <br />2023. Following two years of budgeted and realized operating losses, the Rookery has a cash <br />deficit of $439,335 at 12/31/2023 while adjusting for accruals to account for all 2023 activity. <br />With budgeted operating income of $11,266 in 2024, Council should consider relieving the <br />Rookery cash deficit. While the 2023 books are still in the process of being closed, the <br />estimated 2023 General Fund surplus is $850,000. <br />42