7. ICESR 04-17-2018hk
r
River
Request for Action
To
Item Number
Ice Arena Commission
17.
Agenda Section
Meeting Date
Prepared by
Financial Update
Aril 18, 2017
Rich Czech, Arena Manager
Item Description
Reviewed by
Financial Update
Cal Portner, City Administrator
Reviewed by
Action Requested
Review Arena financial information.
BackgroundlDiscussion
Revenues for 2017 were up about 4.5% of the budget. The main increases come from ice sales and fees
collected by recreation programs.
Expenditures were up mainly due to increases in part-time pay. Offsetting some of the personal service
was the decrease in the budget for recreation supplies.
Concessions sales were slightly up, however the purchase of year end supplies brought the net profit
down by 3.5%.
Capital items were scheduled but put on hold due to the unknown outcome of the remodeling or
rebuilding of the arena include Barn structure repairs, scoreboards, and walking track flooring.
The net income for 2017 is $99,756. Adding contributions and rebates the total end funding balance is
$581,671.
Financial Impact
N/A
Attachments
Arena's Revenue and Expenditure Summary
�AtURE
REVENUES
Ice Rental
Recreation Programs
Admissions
Sign Rental
Dry Floor Events
Vending
Skate Sharpening
Building Rent
interest Income
Other Mdse Sales/Misc.
TOTAL
EXPENDITURES
Personal Service
Other Operating Expenditures (1)
Vending Mdse for Resale
Other Mdse for Resale
Recreation Programs
TOTAL
Concessions:
Sales
Less: Product & Supplies
Salaries
Net Profit
OPERATING INCOME (LOSS)
Capital Outlay
NET INCOME (LOSS)
Other Income
Sale of Assets
Contributions/Rebates
Beginning Fund Balance
Ending Fund Balance
4/13/2018
Elk River ice Arena
Revenue and Expenditure Summary
For the Period Ending December 31, 2017
2018
2017
2017
2016
2015
2014
Budget
Budget
Actual
Actual
Actual
Actual
556,000
540,150
554,714
549,943
540,541
513,114
76,900
67,100
83,857
73,865
68,338
84,295
24,500
29,250
27,837
24,272
26,229
22,502
18,000
22,400
29,420
18,010
24,677
20,433
22,500
22,000
16,325
20,790
15,153
13,858
11.250
15,000
15,411
14,076
15,360
14,981
2,600
4,300
3,355
2,586
3,206
3,526
3,800
2,600
-
3,800
2,600
2,600
4,500
4,500
10,354
6,204
4,754
2,770
3,900
4,200
3,196
3,417
2,803
14,514
729,950
711,500
744,469
716,963
703,661
692,593
347,900
322,350
339,473
302,585
273,498
299,513
310,000
285,950
283,277
223,068
332,139
256,767
7,400
8,650
6,777
7,011
8,579
6,614
1,200
900
32
1,194
696
758
42,100
42,400
36,989
34,979
34,464
33,496
708,600
660,250
666,548
568,837
649,376
597,148
84,000
81,600
82,740
77,204
80,081
73,445
37,350
33,900
38,911
31,001
35,077
33,008
22,900
22,900
21,994
21,896
22,737
18,129
23,750
24,800
21,835
24,307
22,267
22,308
45,100
76,050
99,756
172,433
76,552
117,753
190,500
-
-
127,835
52,790
45,100
(34,450)
99,756
172,433
51,283)
64,963
-
-
-
27,600
-
-
5,900
6,100
6,040
5,435
5,850
5,752
581,671
475,875
475,875
270,407
315,840
245,125
632,671
447,525
581,671
475,875
270,407
315,840