|
- - -- a ---- --------- ------------ --- - -- -
<br /> REVISED PROPOSAL BY SUB-COMMI 1 1 EE
<br /> • OF'i HE PROJECTED STATEMENT OF CASH FLOW
<br /> FROM ',ME FEASIBILITY STUDY COMPLETED BY MARQUEi 1E PARTNERS
<br /> • The Sub-comrnitiee established from the EDA meeting has taken the numbers from the Feasibility Study presented to them
<br /> by Marquette Partners and have made revisions where they feel more accurately fits our program here in Elk River. The
<br /> committee has also scaled back the project to be constructed in phases to bring down the initial cost of the project. •
<br /> • FEASIBILITY ERYHA ARENA SUB-COMMITTEE ADJUSTMENT
<br /> • STUDY ACTUALS PARTIAL SEASON FULL •
<br /> NUMBERS FOR BEGIN NOV. 15 SEASON
<br /> REVENUES: • 1995-96 1993-94 FOR 1995-96 FOR 1996-97
<br /> * ice Rental 318,000 112,755 286,920 338,000
<br /> ISD 728 Ice Rental 27,000 22,152 25,800 27,000
<br /> *Admissions • 35,000 13,020 30,000 30,000
<br /> Dry Floor Events 4,000 4,147 6,000 + 6,000 +
<br /> * Sign Rental . 10,000 6,200 20,000
<br /> Concessions 20,000
<br /> 63,000 29,144 50,000 60,000
<br /> Vending Machine 23,000 11,590 18,000 20,000
<br /> Skate Sharpening 5,000 2,352
<br /> _ . 4,000 ,. _ 5,000
<br /> Miscellaneous Income 2,000 2,000 2,000 2,000
<br /> Total Revenue $487,000 $203,360 $442,720 $508,000
<br /> EXPENSES:
<br /> Salaries 74,000 47,122 65,000 76,000
<br /> Benefits 15,000 •2,701 12,000 15,000
<br /> Repairs & Mtce. 39,000 14,500 25,000 39,000
<br /> • Professional Services 4,000 2,275 4,000
<br /> * Utilities 4,000• 120,000 • 33,279 60,000 90,000
<br /> * Insurance 24,000 13,000 20,000 20,000
<br /> • Administrative/Supplies 4,000 2,500 4,000 4,000
<br /> Zamboni 7,000 . 2,404 5,000 6,000
<br /> Concession Merchandise 38,000 19,862 28,000 32,000
<br /> Dry Floor Events 1,000 _ 1,450 2,000 2,000
<br /> Total Expenses: $326,000
<br /> $139,093 $225,000
<br /> $288,000
<br /> •
<br /> CASH FLOW AVAILABLE
<br /> FOR DEBT SERVICE: ( $ 161,000 I $64,267 I $ 217,720 1 I $ 220,000 I
<br /> Existing Arena Debt-May 1,1995-November 1, 1995. $ (15,776)
<br /> + Revenues: Indoor Soccer Spring & Fall 1996/Spring 1997 $ 6,000 $ 10,000
<br /> = Items we adjusted from the Feasibility Study.
<br /> 'ERYHA ACCOUNTS AS OF 2/23/95 CHECKING $ 62,000-'`
<br /> -
<br /> • SAVINGS $ 26,529 r
<br /> CD MATURES 5/95 $ 20,000
<br /> CD MATURES 8/95 $ 20,000 i
<br /> PULLTABS $ 47,000
<br /> PLEDGE CARDS AS OF 2/24/95: 3 YEAR PLEDGE $ 15,105
<br /> PLEDGED CASH RECEIVED $ 3,067
<br /> 0 On 2/27/95 at ERYHA monthly Board meeting the ERYHA Board approved the donation of S75,000 cash to the new Arena
<br /> Project available immediately and an additional S25,000 pledge backed by the ERYHA PuIltab Account available upon
<br /> request This money is to be used to further the progress of the Ice Arena project and/or to begin early construction of the
<br /> project if the Ice Arena Task Team decides it is needed. See attached minutes.
<br />
|