5. - 11. ICESR 08-06-2002 - Laserfiche WebLink

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MEMORANDUM TO: Ice Arena Commission, Members FROM: Rich Czech, Arena Manager DATE: July 29, 2002 SUBJECT: Agenda Memo—August 7, 2002 5. Review 2001 Operating Finances, Current Information on 2002 Financial Status. Attached for your review are the financial summaries for the Arena for the years 1997, 1998, 1999, 2000, 2001, and 2002. The report shows the actual year to dates revenues and expenditures for 2002. Comparing the year to date expenditures and revenues the expenditures should be close to the budget while some of the revenues may fall short and others will be slightly higher. The Elk River School District has agreed to raise the ticket prices to the Girls and Boys High School hockey games by $1.00 for three years to raise $30,000.00 to help pay for the bleachers that were installed in the eastside of the Olympic rink. Last year $8,831.00 was taken in towards the bleachers. At this pace it will take an additional year to reach $30,000.00. 6. Discuss the Status of South End of the Barn As you are aware, the bleachers were removed last Summer and the area has remained vacant. At the last Commission meeting, Commissioner Kent Madsen was going to check with youth hockey to see if they have any interest in building office space in this area. 7. Olympic Rink Refrigeration Leak In the last update to the Commission I noted that the Olympic ice plant had a major leak. 4,470 pounds of refrigerant was lost,what I neglected to mention was the cost of the refrigerant. 4,200 pounds of refrigerant was purchased at $1.44 a pound and the remaining 270 that was on hand cost $1.79 a pound which totals $6,531.30 (all taxes included). We are checking with the insurance company to see if it is covered under the city's boiler insurance. We believe that the vibration from the number two compressor may have contributed to the pipe splitting. The compressor is scheduled to have a vibrate