5. - 9. ICESR 08-19-2003 - Laserfiche WebLink

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MEMORANDUM TO: Ice Arena Commission, Members FROM: Rich Czech, Arena Manager DATE: August 19, 2003 SUBJECT: Agenda Memo —August 19, 2003 5. Review 2003 finance information and 2004 budget Attached for your review is the financial summary for the Arena for the years 2001 — 2002, along with the actual year to date revenues and expenditures for 2003 and the Arena budget for 2004. The revenues for 2003 will end very close to what is budgeted. The two areas that I am watching closely are the skate sharpening and the admissions. The skate sharpening may end up short about $2,500.00 of what was budgeted. I believe this is partly due to customers wanting personalized skate sharpening, which we cannot provide due to the kind of skate sharpening machine we have. Admissions for 2002 were at $39,500.00, this year (2003) it is budgeted at $42,000.00. Last winter the admissions took in a little over$15,700.00 towards the 2003 budget. This leaves a balance of$26,300.00. This fall and winter there are 16 games left before the 2004 fiscal year begins. Out of these sixteen games, the Elk River Boys have four games, the Elk River Girls have six games, and the Rogers Boys and Girls teams have three games each. During the 2003 —2004 season the Elk River Boys will play four games in 2003. Looking at the gate receipts from these games during the 2002—2003 season they totaled $9,727.00. The Elk River Girls will have six games in 2003. Looking at the receipts of these games during the 2002 —2003 season shows gates receipts of$5,034.00. The three games the Rogers Boys Games will play in 2003 will generate a minimum of $1,350.00 if they play a Varsity schedule only, and the Rogers Girls team will generate a minimum of$1,125.00 for the three games they will play in 2003. This totals $17,236.00, short $9,064.00 of what is needed to reach what was budgeted for 2003. I would expect that the Rogers teams would bring in more revenue than the minimum, however this being their first season, there are no past numbers to project from. I would think being short $9,064.00 would be a worse case scenario. Barring any unforeseen major expenditures operating expenditures should come in under budget. The Vending Merchandise Resale expenditures looks like it will also be under