04-17-2012 ICE MIN - Laserfiche WebLink

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operating expenses have decreased thanks to the energy upgrades from last year. Overall, the arena had a net income of $90,369. Arena Manager Rich Czech notes that part of the reason there has been a decrease in recreation program revenue, is that the upper level learn to skate classes, in addition to most the contract ice has been turned over to the Elk River Figure Skating Club. Simon adds that concessions revenue was up $24,694 from last year, and the bleacher fund ended the year at $13,755. For 2012, Simon notes, the projected revenue is $665,400. The arena will have additional expenses, also, including the hiring of another full time person. However, even with that expense, the arena is projected to have $89,950 which can be used for projects. Commissioner Malzahn inquires about the additional number of ice hours sold in 2011, noting that the revenue should have gone up considering the rates increased last year. Arena Manager Czech states that an additional 100-110 hours were sold this year, and notes that the arena is running fewer camps themselves, as more independent groups are coming in and buying up the hours, which increases the ice revenue and decreases the amount spent in staffing our own. Chair Dale Martin inquires about the payback for the improvements that were made. Finance Director Tim Simon notes that the arena paid $60,000 less in utilities in 2011. 6. Value Engineering Studies for Arena Arena Manager Czech presents information on revenue between each ice sheet separately in an effort to show what would happen to our overall revenue if we only had the Olympic sheet. He notes that the Barn is only up 9 months per year, and admissions for High School hockey games are only in the Olympic. In addition, dasher board/advertising is typically only in the Olympic, but dry floor events are only in the barn. Overall the barn has about 1/3 as much in expenditures. 2