Title
TransAlta TriLeisure Centre Budget Amendment
Proposed Motion
That Council approve the TransAlta TriLeisure Centre request to amend the 2015 budget to add expenses in the amount of $201,639 for a General Manager search consultant, insurance increase, Human Resource issues and consulting; with funding coming from the TLC's unrestricted surplus fund.
Body
Administration Recommendation
Administration is in support of the motion. The proposed amendments will allow the TLC to continue with critical work required for the operation of the TLC. In addition there have been some unexpected operational increases in expenses since the TLC Board and Administration finalized their 2015 budget.
Purpose
The TransAlta TriLeisure Centre is requesting approval to amend their 2015 budget.
Summary
As per the attached letter the TLC Board of Directors is requesting an amendment to their 2015 budget. The Amendment if approved by all three Councils will be for the following items: 1) General Manager Search consultant, 2) insurance increase, 3) human resource issues 4) consulting. The Memorandum of Agreement states that all budgets of the TLC must be approved by the respective Councils. As part of Parkland County's 2015 budget, Council approved the TLC operating budget. Since the formal adoption of that budget, the TLC has had their financial statements audited. These Audited Statements show an unrestricted surplus in the amount of $201,639 for 2014. In addition, the balance of the restricted surplus is $678,740. Utilizing the surplus from 2014 will allow the TLC to complete a couple of consulting tasks namely the hiring of a new General Manager and the completion of the facility lifecycle plan. Other items listed are crucial to the continued operations and will allow the Board successfully operate moving forward.
Financial Impact:
Cost: $201,639
Source of Funding: TLC's Unrestricted Surplus Fund