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EXHIBIT A - PAGE 1
<br />
<br /> REVISED PROPOSAL BY SUB-COlVIMITTEE
<br /> OF ~ PROJECTED STATEMENT OF CASH FLOW
<br />FROM THE FEASIBH..ITY STUDY COMPLETED BY MARQUETTE PARTNERS
<br />
<br />Thc Sub-committee established from thc EDA meeting has taken thc numbers from thc Feasibility Study presented to thcm
<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 thc project to be constructed in phases to bring down thc initial cost of thc project
<br />
<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 />* lSD 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 20,000
<br />Concessions 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 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 />
<br />EXPENSES:
<br />Salaries 74,000 47,122 65,000
<br />Benefits 15,000 '2,701 12,000
<br />Repairs &Mtce. 39,000 14,500 25,000
<br />Professional Services 4,000 2,275 4,000
<br />° Utilities 120,000 33,279 60,000
<br />' Insurance 24,000 13,000 20,000
<br />Administrative/Supplies 4,000 2,500 4,000
<br />* Zamboni 7,000 2,404 5,000
<br />Concession Merchandise 38,000 19,862 28,000
<br />Dry Floor Events 1,000 1,450 2,000
<br />Total Expenses: $326,000 $139,093 $225,000
<br />
<br />CASH FLOW AVAILABLE
<br />FOR DEBT SERVICE: ['$ 161,000.] $64,267 L $ 217,720 J
<br />
<br /> 76 000
<br /> 15 000
<br />· . 39 000
<br /> 4 000
<br /> 90 000
<br /> 20 000
<br /> 4 000
<br /> 6 000
<br /> 32 000
<br /> 2,000
<br /> $288,000
<br />
<br />L$ 220,000]
<br />
<br />Existing Arena Debt-May 1,1995-November 1, 1995.
<br />Revenues: Indoor Soccer Spring & Fall 1996/Spring 1997
<br />.*~= Items we adjusted from the Feasibilit7 Stud~.
<br />ERYHA ACCOUNTS AS OF 2/23195 ....
<br />
<br />$ (15,776)
<br />$ 6,000
<br />
<br /> CHECKING
<br /> 'SAVINGS
<br /> CD MATURES 5/95
<br /> CD MATURES 8/95
<br /> PULLTABS
<br />PLEDGE CARDS AS OF 2/24195: 3 YEAR PLEDGE
<br /> PLEDGED CASH RECEIVED
<br />
<br />62,000
<br />26,529
<br />20,000
<br />20,000
<br />47,000
<br />15,105
<br />3,067,
<br />
<br />$ 10,000
<br />
<br />On 2/27/95 at ERYHA monthly Board meeting the ERYI-IA Board approved the donation of $75,000 cash to thc new Arena
<br />Project available immediately and an additional $25,000 pledge backed by the ERYHA Pulltab 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 thc
<br />project if thc Ice Arena Task Team decides it is needed. See attached minutes.
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