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Town of Stallings Sportsplex

Town of Stallings Sportsplex. Finance Committee August 2011. Background. Council indicating interest in Sportsplex Unsure what will be included Initial interest to participate from user groups (PRAA, Stingray, Carolina Courts etc)

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Town of Stallings Sportsplex

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  1. Town of StallingsSportsplex Finance Committee August 2011

  2. Background • Council indicating interest in Sportsplex • Unsure what will be included • Initial interest to participate from user groups (PRAA, Stingray, Carolina Courts etc) • Finance Committee directive by council to recommend on larger expenditures • Possibly the largest financial commitment in Stallings history • Finance Committee would like to weigh in as to how to proceed

  3. Assumptions • Whatever is provided should be in the best interest of the entire community • Taxpayer cost (if any) should be clearly defined and not left to chance • Any previous land assumptions should be reassessed to consider all available options • Proper planning and care should be taken. Measure twice, cut once. No need to rush. • User groups will participate in cost sharing

  4. Recommendations • Stallings would establish a separate “Enterprise Fund” – to allow distinct accounting for this venture • Council to define town contribution clearly so taxpayer cost is understood (ie 1 cent of tax base) • Secure high level agreements regarding funding with all user groups before any project begins • Pre-fund the Enterprise Fund with all user groups before any construction begins. User group funding (including Stallings) would be separated and protected in event facility is not built

  5. Recommendations (cont….) • Secure hotel/food beverage tax sources ahead of any construction to be placed into “Enterprise Fund” • Build highly refined budget before proceeding • Form a “Special Community Sportsplex Committee” which include a broad base of citizens (include one council member and one finance committee member) – (6-8 members) • Members of this committee shall not over represent any one user group and must be citizens of town and free from conflict

  6. Recommendations (cont….) • This new committee would: • Conduct a thorough needs assessment and make recommendations to benefit maximum number of citizens. May be able to use outside consultants (ie demographic studies, architects) with council approval • Collaborate and communicate (not compete) with neighboring municipalities to recommend complementary facilities • Collaborate and communicate with Finance Committee regarding all budget assumptions etc • All costs to come from new “Enterprise Fund”, not general fund balance • Make recommendation on land and construction details

  7. Recommendations (cont….) • This new committee would (cont…): • Identify user group synergies • Develop a budget that will in a reasonable period of time that is break even/profitable • Develop timeline and project schedule with priorities and assignments

  8. Summary • Ensure proper needs assessment • Define taxpayer cost up front. Do not leave this open and at risk. • Pre fund and gain user group agreement and funding to the project at the front end – before anything is done • Set up “Enterprise Fund” to account for this project separately

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