Dubuque Racing Association FY 2003 CIP ScheduleMEMORANDUM
November 27, 2002
TO:The Honorable Mayor and City Council Members
FROM:Michael C. Van Milligen, City Manager
SUBJECT:DRA Capital Improvement Program
Dubuque Racing Association General Manager Bruce Wentworth is requesting approval
of the annual Capital Improvement Program for Dubuque Greyhound Park & Casino.
I respectfully recommend Mayor and City Council approval of the Capital Improvement
Program.
Michael C. Van Milligen
MCVM/jh
Attachment
CC:Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
DUBUQUE RACING ASSOCIATION
November 25, 2002
Honorable Mayor and City Council
Dubuque City Hall
50 West 13th Street
Dubuque, tA 52001-4864
RE: Dubuque Racing Association FY 2003 CIP Schedule
Dear Honorable Mayor and City Council:
Attached is the Dubuque Racing Association's Capital Improvement Projects Schedule
detailing expenditures for 2003. DRA's Executive Committee reviewed and submitted
this schedule with their recommendation for approval to the DRA Board of Directors and
the DRA Board approved this schedule on November 19, 2002.
Provisions within the DRA/City Lease require City concurrence and approval for certain
projects involving DRA alterations to the facility that exceed $10,000, and the uses of the
Depreciation and Improvement Fund and the DRA Reserve Fund.
The DRA's FY 2003 CIP Schedule lists total expenditures of $1,807,492.00, with 100 %
of the source of fimding coming from the DRA Reserve Fund.
Attached are background materials presented to the DRA Board that detail the
projects and acquisitions that the DRA wishes to proceed with. I respectfully request that
the City Council concur with and approve these expenditares.
Sincerely,
Bruce Wentworth
General Manager
Dubuque Racing Association
P.O. Box 3190 · DUBUQUE, IA 52004-3190 *' PHONE 563.582.3647 ° FAX 563.582.9074
Date:November 15, 2002
To:DRA Board of Directors
From:Roger Hoeger
Issue:Fiscal 2003 CIP Schedule
Recommendation
The Executive Committee will be meeting an hour before the DRA Board of
Director's November 19th meeting to discuss the CIP budget. The Executive
Committee's recommendation will then be brought to the DRA Board of
Directors meeting of November 19th.
The Fiscal 2003 CIP Schedule lists proposed expenditures totaling
$1,807,492 with the source of funding from the DRA Reserve Fund.
Discussion
Staff prepares a CIP Schedule for Board action on an annual basis. The
Fiscal 2003 Budget is comprised of the following departments' request or a
specific line item not associated with a particular department.
Slot $1,324,346 73.2%
Food & Beverage $11,889 0.7%
Maintenance $52,759 2.9%
MIS $100,985 5.6%
Cage/Count $218,839 12.1%
Security $8,844 0.5%
Racing $12,130 0.7%
Players Club $12,700 0.7%
Site Design $50,000 2.8%
G. M. Contingency $15,000 0.8%
Total $1,807,492 100%
The Fiscal 2003 CIP Budget of $1,807,492 compares to the prior year CIP
Budget of $1,664,141 or $143,351 (8.6%) more than the 2002 CIP Budget.
P.O. Box3190 · DUBUQUE, IA 52004-3190 · PHONE 563.582.3647 ° FAX 563.582.9074
DPA - Fiscal 2003 CIP Schedule
Description rCode I 2003 1 2004 ] 2005 200e
Sand Replacement- Racetrack RES $50,000 J $50,000
Casino Slot Chair Replacement RES $136,794 $136,794
Slot Machine Replacements & Related Equipment RES $1,182,820 $1,194,550 $1,230,060 $1,266,630 $1,341,996 $6,216,056
Slot Ticket In / Ticket Out System RES $98,443 $98,443
i Ticket Redemption Center RES :~ $37,574 $40,680 $78,254
Slot Monitor Repair Equipment RES $5,509 $5,509
Slot Signage RES $16,900 $16,900
Computer Hardware Additions RES $8,595 $8,595
Computer Hardwaro Replacemerds RES $47,740 $137,002 $107,345 $84,621 $53,596 $430,304
Software RES $7,050 $21,297 $14,162 $24,228 $14,964 $81,701
Time System Replacement (Hardware & Software) RES $37,600 $37,600
Steamer Replacement- Pressure Type RES $8,799 $8,799
Lecterns for Park View Room RES $3,090 [ $3,090
Serving Counter- West End Deli RES $4,046 $4,046
PiccadiJly Circus Pizza Concept RES $18,315 $18,315
DigJtel Dining Point of Sale System RES $74,930 $74,981~
Walk-in Freezer - West End Deli RES $9,931 $9,931
Carpet - Winners Restaurant RES $35,000 $35,000
Chairs - Winners Restaurant RES $25,000 $25,000
Carpet - Park View Room RES $24,000 $24,000
Cater Utility Vehicle RES $7,341 $7,341
2 Clarke Bakery Operated Vacuums RES $6,212 $6,217
Snow Blower Attachment for Skid Steer RES $5,035 $5,03:,
Methane Nan'ns Replacements. 1 Kennel per Year RES $8,155 $8,400 $8,652 $8,911 $9,179 $43,296
HVAC Replacement - Paddock RES $18,700 $16,700
Upgrade Grease Traps - Kitchen & Deli RES $4,815 $4,81~
Wail Pads for Racetrack RES $2,501 $2,501
Replace 1996 Pick-up RES $26,000 $26,000
Electrical Wiring (480 Volt 3 Phase to Mtc. Shop & Infield RES $25,500 $25,500
Additional Fountains & Lighting for the Pond RES $11,500 $11,500
Radio Replacements RES $8,864 $15,400 $13,128 $23,516 $60,908l
Jet Scan Currency Counter Replacement (Cummins) RES $9,731 $10,023 $10,324 $10,633 $10,952 $51,663
Coin / Token Sorter Replacements (4) RES $63,700 $37,998 $101,698
Coin Wrappers RES $36,129 $19,072 $55,201
_Players Club Embosser RES $6,000
Promotion Area Table RES $ 1,250 $13,000 $19,000
$1,250
Plinko Soard (for Promotions) RES $1,500 $1,600
Money Wheel (for Promotions) RES $1,300 , $1,300
Cummins Jet Scan Replacement & Related Equip. RES $109,279 $109,279
Radios for Racing Dept. & License RES $5,748 $5,748
Secudty Automated Guard Tour System RES $3,096
Kennel Turn Out Pen Lighting RES $4,500 $4,500I
Paddock Kennel Crate Floorboards RES $7,630 $7,630~
Office Furniture - Players Club RES $2,650 $2,650
Capital Contingency RES $15,000' $15,000 $t5,000 $15,000 $15,000 $75,000
Qffice Copier RES $23,793 $23,793
ITelephone System RES $27,038 $27,05~
Site Design RES $50,000 $176,508 $189,475 $50,000
Site Improvements ?'~'~ ?'~ ??? $0
Future Year% Contingency (10% of Pdor Year Totel) RES N/A $180,7491 $166,363 $713,09~
Total $'1,807,492 $'1,765,079 $'1,894,755 $'1,663,627 $'1,697,564 $8,828,5'16
IRES
D&I
OPER = Operating Cash
Total
= CIP Portion of 25% Reserve Fund
= Depr. & improvement Fund
$1,807,492 $1,765,079 $1,894,755 $1,663,627 $1,697,564 $8,828,516]
$0 $0 $0 $0 $0 $0[
$0 $0 $0 $0 $0 8 8 $0
$1,807,492 $1,765~079 $1,894,755 $1,663,627 $1,697,564 $ , 28~516~
11/25/02 2003cipf - 25% Tax Rate.123
DRA - Fiscal 2003 CIP Schedule
Projections Based on a Gaming 20% Tax Rate
I Descripti°n I I 20021
=oosr
D & I Fund Balance Calculation
D & I Fund Balance (Includes Restricted Funds)
Resources - Annual Payments
Uses - From Prior Year C[P Items
Uses - Current Year
Interest Income
Fund Balance (Includes Restricted Funds)
Restricted Funds
Fund Balance Available
$822,218 $684,609 $825,147 $969,902 $1,118,999 $1,272,569
$120,000 $120,000 $t20,000 $120,000 $120,000 $120,000
$0 N/A N/A N/A N/A N/.~
($288,501) $-0 $-0 $-0 $-0 $-0
$30,892 $20,538 $24,754 $29,097 $33,570 $38,177
$684,609 $825,147 $969,902 $1,118,999 $1,272,569 $1,430,746
($250,000) ($250,000) ($250,000) ($250,000) ($250,000) ($250,000
$434,609 $575,147 $719,902 $868,999 $%022,569 $1,180,746
CIP Fund of DRA Reserve Fund
Fund Balance Star[ Of Fiscal Year
Resources - Annual Payment (Start of Fiscal Year)
Uses - From Pdor Year
Uses - Current Year
Projects Deferred / Deleted
Restricted Funds (5% Of Operating Expenses)
Restricted Funds - Contingency - From (To)
Restricted Funds - Debt Reserve
Interest income
Fund Balance
$2,449,493 $1,304,891 $1,440,302 $2,093,069 $2,736,139 $3,663,392
$2,179,000 $2,523,962 $3,110,472 $3,256,725 $3,294,711 $3,344,955
($1,231,757) N/A [',VA N/A N/A N/A
($1,684,425) ($1,807,492) ($1,765.079) ($1.894,755) ($1,663,627) ($1,697,564
$0 N/A N/A N/A N/A N/A
($25,358) ($61,959) ($37,983) ($54,932) ($48,982) ($40,982
($538,410) ($615,501) ($768,122) ($800,448) ($811,432) ($825 993
$0 $0 $0 $0 $0 $0
$156,348 $96,401 $113,480 $136,480 $156,583 $185,471
$1~304,891 $1,440,302 $2,093,069 $2,736,139 $3,663,392 $4,629,278
5% of Operating Fund of DnA Reserve Fund
Fund Balance Start Of Fiscal Year $761,408 $786,766 $848,725 $886,707 $941,640 $990,622
UsesReS°urces. Annual Payment (Start of Fiscal Year) $25,358 $61,959 $37,983 $54,932 $48,982 $40.982
IFund Balance $786,766 $848,725 $886,707 $941,640 $990,622 $1,031,604 J
Contingency Fund of DRA Reserve Fund
Fund Balance Start Of Fiscal Year $2.171,005 $2,865,763 $3,585,702 $4,484,439 $5,443,433 $6,442,512
Increase(Decrease)- (Start of Fisca[ Year) $538,410 $615.501 $768,122 $800.448 $811,432 $825,993 ~
Interest Income $156,348 $104,438 $130,615 $158,547 $187,646 $218,055~
Fund Balance $2,865,763 $'~.5 _~_~t702 $4t484,439 $5,443,433 $6,442,512 $7,486,560
IDebt Reserve Fund of DnA Reserve Fund I
Fund Balance Start Of Fiscal Year $0 $0 $0 $0 $0 $0
I
Increase - (Start of Fiscal Year) $-0 $-0 $-0 $-0 $-0
~Prepayment of Debt (Debt retired in Fiscal 1999) N/A N/A N/A N/A N/A
N/A
IFund Balance $0 $0 $0 $13 $0 $0
DRA Reserve Fund Percentag~eo Allocations
~ ERaer~tydCDt~bdt FRUenfidr:~eO, Ptemfng (Ba[ance to equal 5 % of Opem6ng Budget)
Capital Improvements
IConOn[len~t
0.00%
75.00%
25.0O%
11/25102 2003cipf. 123
DRA - Fiscal 2003 ClP Schedule
Projections Based on a Gaming 25% Tax Rate
IDescripti°n I I 20021
20031 2oo41 200si 200si 200 1
D & I Fund Balance Calculation
D & I Fund Balance (includes Restricted Funds)
Resources - Annual Payments
Uses - From Prior Year CIP items
Uses - Current Year
Interest Income
Fund Balance (includes Restricted Funds)
Restricted Funds
Fund Balance Available
$822,218 $684,609 $825,147 $969,902 $1,118,999 $1,272,569
$120,000 $120,000 $120,000 $120,000 $120,000 $120,000
$0 N/A N/A N/A N/A NJA
($286,501) $-0 $-0 $-0 $-0 $-0
$30,892 $20,538 $24,754 $29.097 $33,570 $38,177
$684,609 $825,147 $969,902 $1,118,999 $1,272,569 $1,430,746
($250,000) ($250,000) ($250,000) ($250,000) ($250,000) ($250,000
$434,609 $575,147 $719,902 $868~999 $%022,569 $1,180,746
ClP Fund of DRA Reserve Fund
Fund Balance Start Of Fiscal Year
Resources -Annua[ Payment (Start of Fiscal Year)
Uses - From Prior Year
Uses - Current Year
Projects Deferred / Deleted
Restricted Funds (5% Of Operating Expenses)
Rest~cted Funds - Contingency - From (To)
Restricted Funds - Debt Reserve
Interest Income
Fund Balance
$2,449,493 $1.304,891 $1.440,302 $1,731,524 $1,999,374 $2,524,O97
$2,179,000 $2,523,962 $2,642.452 $2,785,043 $2,802.250 $2,832,971
($1,231,757) FFA N/A N/A N/A N/A
($1,684.425) ($1,807,492} ($1,765.079) ($1,894,755) ($1,663,627) ($1,697,564
$0 N/A N/A N/A N/A N/A
($25,358) ($61,959) ($37,983) ($54,932) ($48,982) ($40,982
($538.410) ($615,501) ($651.117) ($682,528) ($688,317) ($697,997
$0 $0 $0 $0 $0 $0
$156,348 $96,401 $102,949 $115,021 $123,399 $139,772
$1,304,891 $1,440,302 $1,731,524 $1,999,374 $2,524,097 $3,060,297
5% of Operating Fund of DRA Reserve Fund
Fund Balance Start Of Fiscal Year $761,408 $786,766 $848,725 $886.707 $941,640 $990,622
Resoumes - Annual Payment (Start of Fiscal Year) $25,358 $61,959 $37,983 $54.932 $48,982 $40,982
IUses
Fund Balance $786t766 $848,725 $886,707 $941,640 $990,622 $1,031 t604
Contingency Fund of DEA Reserve Fund
Fund Balance Start Of Fiscal Year $2,171,005 $2,865.763 $3,585,702 $4,363,924 $5,197,845 $6,062,747
Increase (Decrease) - (Start of Fiscal Year) $538,410 $615,501 $651,117 $682,528 $688,317 $697,997 ~
I Interest income $156,348 $104,438 $127,105 $151,394 $176,585 $202,822
Fund Balance $2,865,763 $3,585,702 $4.363t924 $5,197,845 $6,062,747 $6,963,566
Debt Reserve Fund of DRA Reserve Fund
Fund Balance Start Of Fisca[ Year $0 $0 $0 $0 $0 $0
I
Increase - (Start of Fiscal Year) $-0 $-0 $-0 $-0 $-0
Prepayment of Debt (Debt retired in Fiscal 1999) NIA N/A N/A N/A N/A N/A
Fund Ba ance $0 $0 $0 $0 $0 $0
DRA Reserve Fund Percentage Allocations
~Restricted Funds - Operating (Balance to equal.o5yo of Operating Budget)
Early Debt Retirement
Capital Improvemenbs
I Contingency
0.00%
75.00%
25.00%
11/25/02 2003cipf - 25% Tax Rata.123