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Case #7 <br /> <br />By: <br /> <br /> City Special Revenue Fund #290 <br /> Charitable Gambling <br />Sandra Ashley Helling, Finance Officer <br /> <br />Background: <br /> <br />This fund wa%s established as of March 1, 1992, to receive the 10% of net <br />profits d~ri~ed from lawful gambling in the City of Ramsey. Currently the <br />following torganizations are active within the City: <br /> <br /> !Organization: Site %1 Site %2 Site %3 <br /> i Cy~tic Fibrosis J.R.s - - <br /> [Ra~sey Lion' s Club SuperBowl Lolly' s VFW <br /> iAnoka Ice Arena J.R.s - - <br /> <br />Until recently the Anoka Area Hockey conducted charitable gambling at <br />McDuff's. iThis organization is no longer active in Ramsey. <br /> <br />The attached! report details payments received by organization by month of <br />activity. ~No ~funds were received from the Anoka Area Hockey organization due <br />to a continuing loss position at McDuffs. We have just received financial <br />statementZ fr~m the Anoka Ice Arena for the last several months of activity. <br />With cashlreceipts as of October 22, 1992, Charitable Gambling has a fund <br />balance of $1:~,382.58; no expenditures have been requested to date. <br /> <br />Observat 4.ions: <br /> <br />Cystic Fi6rosis and the Ramsey Lion's Club have been timely with reporting <br />and payments.~ Reports for the Anoka Ice Arena have not been submitted on a <br />timely bas.is,i but they are now caught up. Finance will continue to follow-up <br />to assure ~imely payment and report verification as needed. <br /> <br />A forecastI for 1993 revenue from charitable gambing, based on our experience <br />to date, would be in the range of $20,000 to $25,000. <br /> <br />Attached:. <br /> <br />Interim FihanCial Report Fund %270 Charitable Gambling Special Revenue Fund <br />Budget COlm'0.!ttee Action: <br /> <br />None - ~en~ral discussion <br />Review C~ecklist: <br />City Admln~strator <br />Finance Officer <br /> <br />BC: 10/27/92 <br /> <br /> <br />