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hk <br />r <br />River <br />Request for Action <br />To <br />Item Number <br />Ice Arena Commission <br />17. <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Financial Update <br />Aril 18, 2017 <br />Rich Czech, Arena Manager <br />Item Description <br />Reviewed by <br />Financial Update <br />Cal Portner, City Administrator <br />Reviewed by <br />Action Requested <br />Review Arena financial information. <br />BackgroundlDiscussion <br />Revenues for 2017 were up about 4.5% of the budget. The main increases come from ice sales and fees <br />collected by recreation programs. <br />Expenditures were up mainly due to increases in part-time pay. Offsetting some of the personal service <br />was the decrease in the budget for recreation supplies. <br />Concessions sales were slightly up, however the purchase of year end supplies brought the net profit <br />down by 3.5%. <br />Capital items were scheduled but put on hold due to the unknown outcome of the remodeling or <br />rebuilding of the arena include Barn structure repairs, scoreboards, and walking track flooring. <br />The net income for 2017 is $99,756. Adding contributions and rebates the total end funding balance is <br />$581,671. <br />Financial Impact <br />N/A <br />Attachments <br />Arena's Revenue and Expenditure Summary <br />�AtURE <br />