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DRAFT <br />10-14-09 <br /> <br />312576v1 SJR- <br />163485 MU205210-435 <br />4 <br />1. All revenues from Recreation Programming will be calculated. Revenues will <br />include any scholarships provided to participants by outside individuals, groups or <br />organizations, and any subsidies provided by the City or the YMCA in order to <br />offer any program. <br /> <br />2. All direct expenses of Recreation Programming will be subtracted. Direct <br />expenses will include: <br /> <br />a. Salaries and benefits for the staff directly involved in said programs; and <br /> <br />b. Supplies, equipment and other costs directly associated with said <br />programs. <br /> <br />3. An administrative charge of 12.5% on all direct expenses will be calculated and <br />subtracted. <br /> <br />4. The remaining balance will be that year’s surplus or deficit. <br /> <br />In the event of an annual deficit, the City will fund the first $2,000 of any such deficit in <br />will be 1999 with the remaining deficit being split equally between the City and the <br />YMCA. <br /> <br />In the event of an annual surplus in 1999, such surplus shall be allocated as follows: <br /> <br />1. The first $25,000 10,000 shall be paid to the City to offset the City’s costs <br />associated with the management of the Rec Center and to assist with capital <br />expenditures, such as flooring, furniture, HVAC systems, the roof, and other <br />similar items at the Community Center assist in funding the Community Center <br />Building and Equipment Replacement Reserve Fund. <br /> <br />2. The next $15,000 shall be paid to the City to offset the City’s cost associated with <br />general programming costs; and <br /> <br />2 3. Any remaining surplus shall be split equally between the City and the YMCA. <br />However, upon mutual consent by the City and the YMCA, any or all of such <br />remaining surplus can be used to expand recreation programming or other <br />services in subsequent years. <br /> <br />In subsequent years, the amounts identified above in the annual deficit and surplus <br />calculations shall be adjusted using the CPI factor identified in Article IV A above. <br /> <br />C. Other Services. <br /> <br />The City will reimburse the YMCA on a monthly basis for its costs associated with <br />providing the following services: <br />