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7.0. ICESR 08-18-2015 Elk Request for Action River To Item Number Arena Commission 7.0 Agenda Section Meeting Date Prepared by Financial Update August 18, 2015 Rich Czech Item Description Reviewed by Financial Update Cal Portner,City Administrator Reviewed by Action Requested Review Arena Financial Information Background/Discussion Rich Czech,Arena Manager,will go over the Arena's financial information. Financial Impact N/A Attachments ■ Arena's Revenue and Expenditure Summary [POWERED 8 Y Template Updated 4/14 NATURE Elk River Ice Arena Revenue and Expenditure Summary For the Period Ending August 17,2015 2016 2015 2015 2014 2013 2012 Budget Budget YTD(08/17) Actual Actual Actual REVENUES Ice Rental 530,250 525,000 244,723 513,114 527,565 532,356 Recreation Programs 81,900 76,500 69,331 84,295 65,906 70,905 Admissions 25,850 29,200 13,694 22,502 24,655 30,384 Sign Rental 22,400 22,000 175 20,433 29,288 23,551 Dry Floor Events 14,300 19,750 10,052 13,858 19,184 17,463 Vending 15,000 14,000 8,240 14,981 11,569 13,879 Skate Sharpening 4,300 4,300 1,840 3,526 4,362 4,373 Building Rent 2,600 2,600 - 2,600 2,600 2,600 Interest Income 2,500 2,200 2,921 2,770 2,079 247 Other Mdse Sales/Misc. 4,200 4,100 1,418 14,514 2,706 4,048 TOTAL 703,300 699,650 352,394 692,593 689,914 699,806 EXPENDITURES Personal Service 316,750 314,050 154,711 299,513 289,482 288,576 Other Operating Expenditures 264,650 264,300 196,680 256,767 235,360 226,541 Vending Mdse for Resale 6,950 6,800 2,895 6,614 6,377 8,148 Other Mdse for Resale 900 900 - 758 - 846 Recreation Programs 50,850 48,650 24,484 33,496 38,243 34,842 TOTAL 640,100 634,700 378,770 597,148 569,462 558,953 CONCESSIONS Sales 80,750 79,000 37,965 73,445 74,937 78,616 Less: Product&Supplies 33,750 35,400 15,561 33,008 32,256 36,233 Salaries 24,500 24,500 9,658 18,129 18,379 16,967 Net Profit 22,500 19,100 12,746 22,308 24,302 25,416 OPERATING INCOME(LOSS) 85,700 84,050 (13,630) 117,753 144,754 166,269 Capital Outlay*** 256,350 11,500 - 52,790 76,168 17,786 Building Debt* - - - - - - NET INCOME(LOSS) (170,650) 72,550 (13,630) 64,963 68,586 148,483 Other Income Contributions/Rebates 6,700 6,500 3,210 5,752 6,569 7,732 Grant Contribution - - - - - - Transfers In Capital Outlay-Liquor Fund - - - - - - General Fund - - - - - - Beginning Fund Balance 394,890 315,840 315,840 245,125 169,970 13,755 Change/Ending in Fund Balance 230,940 394,890 305,420 315,840 245,125 169,970 ***=Capital outlay breakout 2016 includes Zambonie Replacement $ 127,850 Expand Locker room#5 $ 8,500 Heating Venting system for Barn Locker $ 45,000 Exhaust system for make-up air for cha $ 30,000 Freon Detector for the Barn Ice Pant roo $ 25,000 Replace Inferred heating in barn $ 20,000 08/17/2015