5. - 12. ICESR Laserfiche: '2. ICE AGENDA 08-02-2005

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MEMORANDUM TO: Ice Arena Commission, Members FROM: Rich Czech, Arena Manager DATE: August 2, 2005 SUBJECT: Agenda Memo -August 2, 2005 5) Review 2005 operating finances current information on 2005 financial status Attached for your review are the financial summaries for the Arena for the years 2003 and 2004, along with the budget for 2005 and a draft for 2006. Included is some historical data and an outline of capital improvements that have been made over the years. Revenues for ice rentals should be about $10,000.00 over what was budgeted. The budget indicates revenue of $368,500.00; so far this year we have taken in $171,463.00. During the remaining five months we can expect at least $208,000.00 in ice sales, which will bring us over the budget by over $10,000.00. This is very good news since the Recreation Program fees for hockey and skating are down. Some of this downward cycle can be contributed to that there are more opportunities for skaters in other clinics and leagues. As I will be noting later, we have rented about 100 more hours of ice this year under clinics. We have a new clinic that bought about 60 hours of ice and a few existing clinics that have added hours to their existing program. With thirteen high school games to be played by the end of this season we should be able to meet the projected number in the budget. Attached for your review is the home high school Hockey schedules to be played at the Arena. Most expenditure line items will be within the budget; however, with the instability of the price of energy it looks like the utilities will go over budget, which will affect the operations expenditures bottom line. It remains to be seen whether the high energy costs will put the Arena's operations in the red. This past summer, there have been more repairs made to the building and its equipment than in the past. This is largely due to the age of the building and the equipment. As the building and its equipment gets older it will be necessary to put more funds towards the building and maintenance of the equipment to make sure that it is kept properly maintained.