Commissioners Court Meeting

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Meeting Date:	05/24/2021
Golf Incentive Mgt Fee
Submitted for:	Carlos Guerra	Submitted By:	Carlos Guerra
Department:	Auditor

Subject:

Discussion and possible action to approve a budget amendment by increasing revenues and expenditures in the amount of $24,735.34 to cover Touchstone Golf LLC incentive management fee in accordance with Texas Local Government Code, Section 111.07075 (Special Budget for Revenue Received after Start of Fiscal Year). [Fund #7100 Casa Blanca Golf Course]

Account Number	Account Name	Amount
7100-6110-347140	Merchandise Sales	$24,735.34
7100-6130-001-432069	Incentive Management Fee	$24,735.34

Issue: Increase budget for new revenue and budget expenditures to cover Touchstone Golf LLC incentive management fee.

Solution: Appropriate new revenues and expenditures to be used for incentive management fee.

Result: Touchstone Golf LLC will be paid the contractual incentive management fee based on improvement in earnings before interest, taxes and depreciation (EBITDA).

Background:

n/a

Previous Court Action:

n/a

Fiscal Impact

Budget Account Number:	7100
Funding Source:	7100
Balance:	n/a
Financial Impact:
n/a

Attachments
Inc.Mgt.Fee