7.0. ICESR 04-21-2015 iG of
lk _ Request for Action
River
To Item Number
Ice Arena Commission 7.0
Agenda Section Meeting Date Prepared by
Arena Manager's April 21,2015 Rich Czech,Arena Manager
Update
Item Description Reviewed by
Financial Update Cal Portner,City Administrator
Reviewed by
Action Requested
Review Arena Financial Information
Background/Discussion
Finance Director Tim Simon will be in attendance to discuss the Arena's financial information.
Financial Impact
N/A
Attachments
• Arena's Revenue and Expenditure Summary
P01EIEI II
NATURE
Elk River Ice Arena
Revenue and Expenditure Summary
For the Period Ending December 31,2014
2015 2014 2013 2012 2011
Budget Actual Actual Actual Actual
REVENUES
Ice Rental 525,000 513,114 527,565 532,356 493,698
Recreation Programs 76,500 84,295 65,906 70,905 89,346
Admissions 29,200 22,502 24,655 30,384 25,630
Sign Rental 22,000 20,433 29,288 23,551 18,086
Dry Floor Events 19,750 13,858 19,184 17,463 19,518
Vending 14,000 14,981 11,569 13,879 11,796
Skate Sharpening 4,300 3,526 4,362 4,373 4,223
Building Rent 2,600 2,600 2,600 2,600 2,600
Interest Income 2,200 2,770 2,079 247 -
Other Mdse Sales/Misc. 4,100 14,514 2,706 4,048 2,849
TOTAL 699,650 692,593 689,914 699,806 667,746
EXPENDITURES
Personal Service 314,050 299,513 289,482 288,576 265,932
Other Operating Expenditures 264,300 256,767 235,360 226,541 232,895
Vending Mdse for Resale 6,800 6,614 6,377 8,148 6,098
Other Mdse for Resale 900 758 - 846 840
Recreation Programs 48,650 33,496 38,243 34,842 34,121
TOTAL 634,700 597,148 569,462 558,953 539,886
CONCESSIONS
Sales 79,000 73,445 74,937 78,616 77,768
Less: Product&Supplies 35,400 33,008 32,256 36,233 32,990
Salaries 24,500 18,129 18,379 16,967 20,084
Net Profit 19,100 22,308 24,302 25,416 24,694
OPERATING INCOME(LOSS) 84,050 117,753 144,754 166,269 152,554
Capital Outlay*** 11,500 52,790 76,168 17,786 42,143
Building Debt* - - - - 200,780
NET INCOME(LOSS) 72,550 64,963 68,586 148,483 (90,369)
Other Income
Contributions/Rebates 6,500 5,752 6,569 7,732 7,012
Grant Contribution - - - - -
Transfers In
Capital Outlay-Liquor Fund - - - - -
General Fund - - - - 90,369
Beginning Fund Balance 315,840 245,125 169,970 13,755 6,743
Change/Ending in Fund Balance 394,890 315,840 245,125 169,970 13,755
***=Capital outlay breakout
2015 includes a Zamboni Battery replacement
2016 includes Zamboni replacement
Several Items not included that will be part of the CIP update/Facility planning process
Replace ice plant
Barn Roof
Heating System Barn Locker rooms
Heating System Barn Bleachers
Exhaust System
04/14/2015