5. - 13. ICESR 04/04/2006 - Laserfiche WebLink

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MEMORANDUM TO: Ice Arena Commissioners FROM: Rich Czech, Arena Manager DATE: March 30, 2006 SUBJECT: Agenda Memo - Apri14, 2006 5. Review 2005 operating finances current information on 2006 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 2006. Included is some historical data and an outline of capital improvements that have been made over the years. Lori Johnson, City of Elk River Administrator, will be in attendance at the meeting to present information regarding the 2005 and 2006 budget. The Arena took over the concession stand last fall from Elk River Youth Hockey. In the Expenditure and Revenue report you will notice that the concession stand lost $5,344.00. This was due to the fact the Arena purchased about $9,700.00 in equipment to operate the concession stand efficiently and a large amount of supplies and products were needed to get the concession stand up and running. The report also shows that the concession stand has a net profit of $15,700.00 so far in 2006. 6. Ice Sales / Rogers Arena The attached graph shows atwo-year history of how many hours were rented each year and the customer type that is renting the hours. In addition to the chart is an itemized break down of the customers renting the hours for the past two seasons. You will notice that we increased the number of hours sold this past season by about 100 hours. The increase in hours can largely be credited to the increase in the amount of hours sold in the summer time, mainly in the amount sold to customers running clinics. Noticeable decreases came in the area of the high school group; however that was to be expected since we did not sell hours to Becker/Big Lake this past season. Depending on whom you talk to, and when, the Rogers Arena maybe built this year or next year. From what I have heard, the structuring of the finances is all that remains. One of the rumors has each Rogers Youth Hockey player paying $200.00 per year for the next nine years towards the debt service of the Arena. Last year we rented 388 hours of ice to the Rogers High School programs and their association. During the summer last year the Rogers girls and boys coaches rented an additiona185 hours for their summer camps.