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Oak Hills Park Authority reports strong year, outlines long-range planning
Summary
Oak Hills Park Authority told the Finance & Claims Committee it finished the fiscal period with positive operating results, remitted $127,000 to the city, and will form a long-range planning committee to address deferred maintenance and revenue options.
Alan Dutton, executive with the Oak Hills Park Authority, told the Finance & Claims Committee on Dec. 12 that audited financials for the year ending Feb. 2024 show a healthy operating result and a clean audit. "We were basically able to make an up our operational income for this period of time was $605,000," Dutton said, and reported that the authority paid $127,000 to the city pursuant to the revenue agreement.
Dutton said the authority used revenue to cover capital leases (about $160,000) and put $270,000 toward capital improvements to the golf course, leaving a small surplus and a comfortable cash position. "As of October, we had $975,000 in the bank," he said.
Committee members asked about how the authority will manage variances in operating expenses and whether elevated revenue this year will change future budgets. Dutton said monthly profit-and-loss statements are reviewed by the authority's treasurer and controller and that the group will form a long-range planning committee, led by Gary Leach, to examine revenue opportunities and deferred maintenance priorities over the next six to nine months.
Dutton also said the on-site restaurant will operate limited winter hours (11 a.m. to 8 p.m.) to help generate off-season revenue. He told members the authority has not used its credit line in the last three years and expects existing cash to cover winter needs.
The committee did not take formal action on Oak Hills finances at the meeting; Dutton said he will provide updates to the committee as the long-range plan develops.
