April 12, 2016

MEMO TO:           Mayor Barber and Board of Commissioners

FROM:                  Frank A. Rush, Jr., Town Manager

SUBJECT:           Budget Amendment – Half-Marathon Fund

The Board of Commissioners is asked to approve the attached budget amendment for the Half-Marathon Fund at the April 12  meeting.  The budget amendment is mostly procedural in nature, and has the net effect of reducing the overall budget for the 2016 events by $10,000.

The original budget for the 2016 Emerald Isle Marathon, Half-Marathon, and 5K race established a total budget of $92,000, and that budget is reduced to $82,000 with the attached budget amendment. The original budget anticipated a total of 1,600 runners, however, it now appears that the 2016 events will wind up in the vicinity of 1,400 runners.  (We believe that competition from a larger race in Raleigh on the same day has impacted the Emerald Isle races to some degree.)

The estimated net proceeds from the 2016 events are now estimated at $40,500, with a total of $20,250 earmarked for the Town’s bicycle path network and $20,250 to be contributed to the Cystic Fibrosis Foundation.

I recommend approval of the attached budget amendment.