|
ESTIMATED ELK RIVER ICE ARENA OPERATING AND MAINTENANCE BUDGET
<br />
<br />BUDGET YEAR
<br />
<br />1996-1997' 1997-1998 1998-1999
<br />
<br />Revenues
<br />Ice Rental $ 295,970 $ 337,115 $ 348,914
<br />lSD 728 Ice Rental 27,600 27,600 28,000
<br />Admissions 25,000 30,000 30,000
<br />Sign Rental 15,000 20,000 20,000
<br />Dry Floor Events 6,000 6,000 6,000
<br />Concession Rent 20,000 20,400 21,000
<br />Vending Machine 18,000 20,000 20,000
<br />Skate Sharpening 3,500 5,000 5,000
<br />Miscellaneous 1.500 1.500 1.500
<br />Total Revenues 412,570 467,615 480,414
<br />
<br />Expenditures
<br />Salaries 65,000 69,400 72,870
<br />Benefits 12,000 15,000 15,750
<br />Maintenance & Repair 25,000 39,000 40,950
<br />Zamboni Op. & Maint. 5,000 6,000 6,300
<br />Professional Services 4,000 4,000 4,200
<br />Utilities 60,000 90,000 94,500
<br />Insurance 20,000 20,000 21,000
<br />Supplies 4,000 4,000 4,200
<br />Dry Floor Events 1.500 2.000 2.100
<br />Total Expenditures 196,500 249,400 261,870
<br />
<br />Available for Debt Service $ 216,070 $ 218,215 $
<br />
<br />*Partial year beginning December 1, 1996, ending May 31, 1997.
<br />
<br />218,544
<br />
<br />This operating budget is based on projections from the Elk River Youth
<br />Hockey Association (ERYH), Marquette Partners (an independent consulting
<br />firm) and the Ice Arena Task Force. ERYH supplied information to Marquette
<br />Partners for a Ice Arena Expansion Feasibility Study which was completed in
<br />April, 1994. After reviewing the document, the Task Force made adjustments
<br />to the projections. The adjusted projections are presented above. Changes in
<br />ice rental, admissions, and sign rental revenues could substantially change the
<br />amount available for debt service. Commitment letters have been received
<br />for part of the Ice Rental revenue, but rental agreements have not been signed.
<br />
<br />The above projections are based on a June 1 to May 31 fiscal year. When City
<br />operation of the arenas begins, the fiscal year will be January 1 to December
<br />31.
<br />
<br />5/7/96
<br />
<br />
<br />
|