11-14-2012 ICE MIN - Laserfiche WebLink

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7. Open Mike None 8. Financial Update Arena Manager Czech reviews the 2012 revenue and states we are expecting to exceed our projected $488,000 in ice sales for the year-possibly even breaking $500,000. Recreation programs still have one session that begins Nov 26` before we will have final numbers for that, but he anticipates we will be in line with the budget. He also believes that our expenses for the year will follow what was budgeted. He notes the capital outlay of$17,000 was for a new Zamboni battery. By the end of the year, Czech notes that we should see between a $90,000-$120,000 profit. With regards to the 2013 projected budget, Czech states that Elk River Youth Hockey has returned all of their hours after Feb 24th, which amounts to $20,000 in lost revenue. Commissioner Ballenger(Elk River Youth Hockey Rep) notes that the mites Jamboree was moved to January, and that they are looking into having a few isolated mites events after that. Arena Manager Czech notes that he is looking into a men's league tournament to eat up some of the hours. Czech states that the Youth Hockey Learn to Skate program, which is being taught by the arena's Learn to Skate Instructors beginning this year, has 180 students that are taught over 2 hours. The arena will get $45 per student from Youth Hockey to cover the instructor's fees. Czech also notes that the rent received from Youth Hockey for their office and storage space has remained at $2600 for several years, and that after consulting with Annie Deckert, the marketing and business development administrator, he believes it is time to review that and it may be increased. With regards to the 2013 expenditures, Czech notes that they reflect a 3% rate of inflation, and that even with that, we are anticipating a $123,550 profit. The capital outlay of$357,300 is for a dehumidification unit for the barn and repair to the one in the Olympic as well as a membrane for the barn roof. 2