5. - 11. ICESR 04-10-2007 - Laserfiche WebLink

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MEMORANDUM TO: Ice Arena Commission, Members FROM: Rich Czech, Arena Manager DATE: April 3, 2007 SUBJECT: Agenda Memo - Apri13, 2007 5. Review 2006 operating finances and current information on 2007 financial status Attached for your review are the financial summaries for the Arena for the years 2004, 2005, and 2006 along with the budget for 2006 and 2007. Included are some historical data and an outline of capital improvements that have been made over the years. Ice revenue for 2006 was projected to be $389,400.00; the actual revenue was $410,210.00, $20,810.00 higher than what was projected. This increase was due to the fact that more hours were rented in the summer than what was anticipated along with some of the later hours being rented during the season. Most of the other revenue items were very close to the budget, however the vending and building rental was down from what was budgeted. In talking to the Bernicks route driver, the owner of grand Prix Vending (our $.25 vending), and the owner of C.D.L. Video, they all felt that their business has been down this past year. I am working with C.D.L. Video on getting up to date video machines in the video area. Over the last few years we have not gotten the best machines. When talking to the owner he has said that machines are expensive to purchase and that he needed to get a certain volume from a machine in order to place it at a site. If I can not work out something with C.D.L., I will be looking at alternative companies for videos or a different venue for that area. The "Learn to Skate" program and skating Academy continues to grow. This is due in part to our Director, Janice Perszyk and her talented instructors. In 2006 the recreation programs took in over 24% more in revenue than in 2005. We will need to expand these programs this coming season to avoid over crowding during lessons. 2006 was the first full year that the Arena operated the concession. After expenses, the Concessions netted $22,503.00, a little over $1,000.00 from the 2006 budget. Next season will be more challenging since there will be less varsity games due to the fact that we will no longer be hosting Roger's High School home games. Before the Building debt, the Arena was $139,806.00 in the black. However after paying off the debt, the Arena ended $62,014.00 in the red.