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<br /> ESTIMATED ELK RIVER ICE ARENA OPERATING AND MAINTENANCE BUDGET 3
<br /> BUDGET YEAR J
<br /> • 1996-1997' 1997-1998 1998-1999
<br /> Revenues •
<br /> Ice Rental $ 295,970 $ 337,115 $ 348,914
<br /> ISD 728 Ice Rental 27,600 27,600 28,000
<br /> Admissions 25,000 30,000 30,000
<br /> Sign Rental 15,000 20,000 20,000
<br /> Dry Floor Events 6,000 6,000 6,000
<br /> Concession Rent 20,000 20,400 21,000
<br /> Vending Machine 18,000 20,000 20,000
<br /> Skate Sharpening 3,500 5,000 5,000
<br /> Miscellaneous 1.500 1.500 1.500
<br /> Total Revenues 412,570 467,615 480,414
<br /> Expenditures
<br /> Salaries 65,000 69,400 72,870
<br /> Benefits , 12,000 15,000 15,750
<br /> Maintenance & Repair 25,000 39,000 40,950
<br /> Zamboni Op. & Maint. 5,000 6,000 6,300
<br /> Professional Services 4,000 4,000 4,200
<br /> • Utilities 60,000 90,000 94,500
<br /> Insurance 20,000 20,000 21,000
<br /> Supplies 4,000 4,000 4,200
<br /> Dry Floor Events 1.500 2.000 2.100
<br /> Total Expenditures 196,500 249,400 261,870
<br /> Available for Debt Service $ 216,070 $ 218,215 $ 218,544
<br /> *Partial year beginning December 1,1996, ending May 31, 1997.
<br /> This operating budget is based on projections from the Elk River Youth
<br /> Hockey Association (ERYH), Marquette Partners (an independent consulting
<br /> firm) and the Ice Arena Task Force. ERYH supplied information to Marquette
<br /> Partners for a Ice Arena Expansion Feasibility Study which was completed in
<br /> April, 1994. After reviewing the document, the Task Force made adjustments
<br /> to the projections. The adjusted projections are presented above. Changes in
<br /> ice rental, admissions, and sign rental revenues could substantially change the
<br /> amount available for debt service. Commitment letters have been received
<br /> for part of the Ice Rental revenue, but rental agreements have not been signed.
<br /> The above projections are based on a June 1 to May 31 fiscal year. When City
<br /> operation of the arenas begins, the fiscal year will be January 1 to December
<br /> 31.
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