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[By: <br /> <br /> Case #7 <br /> <br /> City Special Revenue Fund #290 <br /> Charitable Gambling <br />Sandra Ashley Helling, Finance Officer <br /> <br />Backgroun~: <br /> <br />This fund lwaslestablished as of March 1, 1992, to receive the 10% of net <br />profits de~iv~d from lawful gambling in the City of Ramsey. Currently the <br />following ~rga~izations are active within the City: <br /> 0rga!nization: Site %1 Site #2 Site #3 <br /> Cystlic Fibrosis J.R.s - - <br /> ,Ram~y Lion' s Club SuperBowl Lolly ' s VFW <br /> ~nok~ Ice Arena J.R.s - - <br /> <br />Until rece, ntl~ the Anoka Area Hockey conducted charitable gambling at <br />McDuff's, ~hisiorganization is no longer active in Ramsey. <br />The attached ~eport details payments received by organization by month of <br />activity. ~o f~nds were received from the Anoka Area Hockey organization due <br />to a conti~ui~g loss position at McDuffs. We have just received financial <br />statements ifrO~ the Anoka Ice Arena for the last several months of activity. <br />With cash ~ec~ipts as of October 22, 1992, Charitable Gambling has a fund <br />balance of !$141~382.58; no expenditures have been requested to date. <br /> <br />Observati~ns <br /> <br />Cystic Fib~osls and the Ramsey Lion's Club have been timely with reporting <br />and payments, iReports for the Anoka Ice Arena have not been submitted on a <br />timely bas~'s, ~.but they are now caught up. Finance will continue to follow-up <br />~ assure ~imet~y payment and report verification as needed. <br />A forecast !forl 1993 revenue from charitable gambing, based on our experience <br />%o date, wo!uld!be in the range of $20,000 to $25,000. <br /> <br />Attached: <br /> <br />Interim Financial Report Fund #270 Charitable Gambling Special Revenue Fund <br />Budget Co~tee Action: <br /> <br />None - geneNal idiscussion <br />Review Checklist: <br />City Admini~t rator <br />Finance Of f~ce~, <br /> <br />BC: !0/27/9~ <br /> <br /> <br />