6.1 SR 06-10-2024it ci
Elk*
River
Request for Action
To
Item Number
Multipurpose Facility A isory Commission
6.1
Agenda Section
Meeting Date
Prepared by
Discussion
June 10, 2024
Joe Stremcha, Assistant City Administrator
Item Description
Reviewed by
Financial Report
Cal Portner, City Administrator
Reviewed by
Action Requested
Discuss the financial report comparing May 2023 vs May 2024 budget to actual.
Background/Discussion
This financial report will be included with each meeting packet in the future.
There will not be a staff report cover letter for this agenda item.
Financial Impact
None
Mission/Policy/Goal
Responsible for every dollar — good stewards
Attachments
■ 05-2023 Multipurpose Facility Budget to Actual
■ 05-2024 Multipurpose Facility Budget to Actual
The Elk River Vision
A n elcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity.
p I I E I E 0 IY
NATUREI
Updated.• January 2023
CITY OF ELK RIVER
MULTIPURPOSE FACILITY - BUDGET TO ACTUAL
MONTH ENDED MAY, 2023
Current
Year to Date
% of
Budget
Actual
Budget
Revenues:
Ice Rental
$830,000
$343,578
41.39%
Admissions
40,000
23,222
58.05%
Dry Floor Events/Craft Shows
5,000
5,035
100.70%
Facility Rental
238,100
76,143
31.98%
Advertising/Naming Rights/Sponsorships
168,000
42,150
25.09%
Recreation fees (Skating/Hockey)
175,000
126,487
72.28%
Concessions/vending
110,000
75,227
68.39%
Other Revenues (interest, etc.)
13,900
4,026
28.97%
Use of Fund Balance
100,350
0
0.00%
Total Revenues
$1,680,350
$695,868
41.41%
Operating expenses:
Personal services
$917,800
$402,970
43.91%
Supplies
102,850
69,158
67.24%
Other service charges
457,700
212,805
46.49%
Capital Outlay
202,000
0
0.00%
Total Expenditures
$1,680,350
$684,932
40.76%
Revenues over/(under) expenditures
$0 $10,936
FTCenter
May 2023
$1,800,000 Budget, $1,680,350 Budget, $1,680,350
$1, 600,000
$1,400,000
$1, 200,000
$1,000,000 Actual Actual
$800,000 $695,868 $684,932
$600,000
$400,000
$200,000
$0
Total Revenues Total Expenditures
CITY OF ELK RIVER
MULTIPURPOSE FACILITY - BUDGET TO ACTUAL
MONTH ENDED MAY 31, 2024
Current
Year to Date
% of
Budget
Actual
Budget
Revenues:
Ice Rental
$893,500
$372,745
41.72%
Admissions
45,000
23,687
52.64%
Dry Floor Events/Craft Shows
7,000
465
6.64%
Facility Rental
244,400
95,342
39.01%
Advertising/Naming Rights/Sponsorships
178,000
63,821
35.85%
Recreation fees (Skating/Hockey)
290,000
92,863
32.02%
Concessions/vending
229,000
109,405
47.77%
Other Revenues (interest, etc.)
9,100
6,651
73.09%
Total Revenues
$1,896,000
$764,979
40.35%
Operating expenses:
Personal services
$900,650
$383,355
42.56%
Supplies
159,800
96,482
60.38%
Other service charges
661,300
173,207
26.19%
Capital Outlay
120,400
0
0.00%
Total Expenditures
$1,842,150
$653,044
35.45%
Revenues over/(under) expenditures
$53,850
$111,935
FTCenter
May 2024
$2,000,000
Budget, $1,896,000 Budget, $1,842,150
$1, 800,000
$1, 600,000
$1,400,000
$1, 200,000
$1,000,000
Actual
$764,979 Actual
$800,000
$653,044
$600,000
$400,000
$200,000
$0
Total Revenues Total Expenditures