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EXHIBIT A - PAGE 2
<br />
<br /> ELK RIVER ICE ARENA
<br />PROPOSED OPERATING AND MAINTENANCE BUDGET
<br />
<br />REVENUES:
<br />
<br />Season
<br />
<br />1996-1997 1997-1998 ~998-1999
<br />
<br />Ice Rental $ 338,000 $ 354,900 $ 372,645
<br />School Dist. 728 Rental 27,000 28,350 29,768
<br />Game & Tournament Admissions 30,000 31,000 31,000
<br />Dry Floor Events 6,000 6,000 6,000
<br />Sign Rental 20,000 20,000 20,000
<br />Concessions 60,000 60,000 60,000
<br />Vending Machine 20,000 20,000 20,000
<br />Skate Sharpening 5,000 5,000 5,000
<br />Miscellaneous Income 2,000 2,000 2,000
<br />TOTAL ... 508,000 527,250 546,413.
<br />
<br />EXPENDITURES:
<br />
<br />Salaries & Benef'~s 91,000 94,640 98,426
<br />Supplies 4,000 4,500 5,000
<br />Repair & Maintenance 39,000 40,000 41,000
<br />Professional Services 4,000 4,000 4,000
<br />Utilities 90,000 90,000 90,000
<br />Insurance 20,000 21,000 22,000
<br />Zamboni 6,000 6,000 6,000
<br />Merchandise for Resale 32,000 32,000 32,000
<br />Dry Floor Events 2,000 2,001 2,002
<br />TOTAL 288,000 294,141 300,428
<br />
<br />EXCESS REVENUES (EXPENDITURES)
<br />AVAILABLE FOR DEBT SERVICE
<br />
<br />220,000 233,109 245,985
<br />
<br />Estimated annual Debt
<br />
<br />$ 190,000 $190,000 $ 190,000
<br />
<br />Estimated annual debt assumes issuance of $2,000,000 G O twenty year
<br />bond with an initial interest rote of 6.9%.
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