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6. ICESR 04-08-2014 City of Elk Request for Action ever To Item Number Ice Arena Commission 6 Agenda Section Meeting Date Prepared by Arena Manager's April 8,2014 Rich Czech,Arena Manager Update Item Description Reviewed by Financial Update Michael Hecker,Parks and Recreation Director Reviewed by Cal Portner, City Administrator Action Requested Review Arena Financial Information Background/Discussion Tim Simon,The City's Finance Director,will be in attendance to discuss the Arena's financial information. Financial Impact N/A Attachments ■ Arena's Revenue and Expenditure Summary P' UM € AEU 0V Ali ' Elk River Ice Arena Revenue and Expenditure Summary For the Period Ending December 31,2013 2014 2013 2013 2012 2011 2010 Bud et Budget Actual Actual Actual Actual REVENUES Ice Rental 520,000 493,000 527,565 532,356 493,698 478,393 Recreation Programs" 76,000 100,500 65,906 70,905 89,346 94,688 Admissions 28,500 25,500 24,655 30,384 25,630 22,573 Sign Rental 24,500 18,000 29,288 23,551 18,086 18,002 Dry Floor Events 19,500 19,500 19,184 17,463 19,518 17,442 Vending 14,000 11,800 11,569 13,879 11,796 13,012 Skate Sharpening 4,300 4,300 4,362 4,373 4,223 4,372 Building Rent 2,600 2,600 2,600 2,600 2,600 2,600 Interest Income - - 2,079 247 - - Other Mdse Sales/Misc. 4,050 3,050 2,706 4,048 2,849 2,027 TOTAL 693,450 678,250 689,914 699,806 667,746 653,109 EXPENDITURES Personal Service 298,850 287,500 289,482 288,576 265,932 266,627 Other Operating Expenditures 251,350 235,450 235,360 226,541 232,895 235,281 Vending Mdse for Resale 8,100 7,000 6,377 8,148 6,098 6,958 Other Mdse for Resale 900 900 - 846 840 237 Recreation Programs 49,300 51,850 38,243 34,842 34,121 40,037 TOTAL 608,500 582,700 569,462 558,953 539,886 549,140 CONCESSIONS Sales 80,000 78,000 74,937 78,616 77,768 69,132 Less: Product&Supplies 29,000 26,900 32,256 36,233 32,990 31,988 Salaries 23,100 23,100 18,379 16,967 20,084 17,655 Net Profit 27,900 28,000 24,302 25,416 24,694 19,489 OPERATING INCOME(LOSS) 112,850 123,550 144,754 166,269 152,554 123,458 Capital Outlay- 343,950 357,300 76,168 17,786 42,143 - Building Debt' - - - - 200,780 199,900 NET INCOME(LOSS) (231,100) (233,750) 68,586 148,483 (90,369) (76,442) Other Income Contributions/Rebates 7,800 7,300 6,569 7,732 7,012 6,743 Grant Contribution - - - - - (39,417) Transfers In Capital Outlay- Liquor Fund 45,500 - - General Fund - - - - 90,369 76,442 Beginning Fund Balance 245,125 169,970 169,970 13,755 6,743 39,417 Change/Ending in Fund Balance 1 21,825 10,980 245,125 1 169,970 13,755 6,743 =building debt paid in full on 12/01/2011 '= Recreation program revenues includes Hockey and Skating programs =2013 capital items (membrane on Barn,dehumidifier in Barn)will carryover to 2014. 04/03/2014