HomeMy WebLinkAboutItem 06.jJune 1, 2015 Item No.________
REVIEW OF PROPOSED 2016 LAKEVILLE ARENAS BUDGET
Proposed Action
Staff recommends adoption of the following motion: Move to review and provide no
additional comments to the Lakeville Arenas Board for their proposed 2016 budget.
Overview
According to the terms of the Lakeville Arenas Joint Powers Agreement, the Arenas Board
must adopt a budget for the upcoming year by July 1st. The attached budget is being
distributed to both the City of Lakeville and ISD 194 for review and comment.
Staff has reviewed the proposed budget and does not see any issues that warrant further
comment by the City of Lakeville.
Primary Issues to Consider
• Does the proposed budget adequately address the needs of the City of Lakeville?
Supporting Information
• Proposed 2016 Lakeville Arenas Budget
Justin Miller
City Administrator
Financial Impact: $___N/A_________Budgeted: Y/N ____ Source: __________________
Related Documents (CIP, ERP, etc.): ________________________________________
Community Values: Access to a multitude of natural amenities and recreational opportunities
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Proposed 2016 Budget
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Table of Contents
Page
Letter of Transmittal 3
2014 Summary 3
General Fund 7
Revenues 7
Program Budget Descriptions and Expenditures 9
Debt Service Funds 13
Fund Balance 14
Capital Reserve Fund 15
Supplemental information 17
Statement of Revenues and Expenditures 17
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April 9, 2015
Lakeville Arenas Board members
The Joint Powers Agreement requires the Board to approve an annual budget on a calendar
year basis. The budget must set forth projected expenditures and revenues necessary to
finance lease payments, fund the capital maintenance reserve and to maintain, operate, and
manage the Arena Complex. The budget must be submitted to the City and School District
prior to June 1st. The Board must approve the budget prior to July 1. As such the proposed
2016 budget is hereby presented to the Board for their consideration and approval.
The budget is comprised of the following funds in order for the Lakeville Arenas to
effectively manage its financial resources.
General (Operating) Fund. The General Fund accounts for the overall operations
of the Lakeville Arenas.
Capital Reserve Fund. The Capital Reserve Fund was established to provide the
financing of future equipment replacements and major facility programs.
The salient issues relative to the proposed budget for each of the respective funds are
discussed in the sections attached hereto.
2014 Summary
The 2014 fiscal year marked the seventh full year of joint operation of both the Ames and
Hasse Arenas. The joint operation has enabled the Lakeville Arenas organization to
continue to offer new and expanded opportunities to better serve our customers – the
community. Some of the highlights and initiatives are as follows.
Public Skating. The arena has continued to offer year round public skating to the
community. Public skating attendance for paid sessions increased this past year
from 2,999 skaters in 2013 to 3,263 skaters in 2014.
Learn to Skate Program. The learn to skate program has continued to provide
skating opportunities for children and adults of all ages. Enrollment has remained
steady between 550 – 650 skaters per year over the past three years. The learn to
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skate program has also led to the creation of the Heritage Figure Skating Club
which is made up of a combination of learn to skate students and local figure
skaters. Both of these programs have created great experiences for our young
skaters that will last a life time.
High School attendance. Attendance at high school games increased from 2013-
14 due to successful seasons of the teams.
2010-11 2011-12 2012-13 2013-14 2014-15
Boys 347 avg/gm 315 avg/gm 258 avg/gm 319 avg/gm 417 avg/gm
Girls 179 avg/gm 200 avg/gm 189 avg/gm 193 avg/gm 233 avg/gm
Total 9,833/39 gms 11,228/44 gms 9,953/45 gms 11,139/44 gms 14,317/44 gms
Adult Hockey League: The Lakeville Arenas adult hockey league was formed in
2008-09 with the additional late night hours available with the opening of Hasse
Arena. The league hosted 5 teams this past season and offered organized team
play for over 75 participants with plans to continue the expansion in coming
years.
Dry Floor Activities. The artificial turf has continued to provide opportunities for
a wide range of indoor activities during the non-ice season. In 2014 over 270
hours of turf activities involving lacrosse, soccer, baseball and softball were
rented at Ames Arena. In addition, over 200 hours of dry floor events including
numerous children’s consignment sales and a Home Design Expo were held. We
also hosted the annual Free Family Fun Fest which attracted over 1,200
community members.
A lighting retrofit that saw the installation of LED lighting over the Ames Rink #1
ice sheet as well as occupancy controls and high efficiency locker room lighting
helped to reduce monthly electrical consumption of these areas by nearly 75%.
2015 Operations
The following is a succinct overview of the salient changes in operations and budget.
Ice rentals are projected to remain consistent with the adopted budget.
Cooperation between LHA and the Arenas has allowed the available ice hours to
be fully utilized during the early tryout season resulting in maximum facility
usage.
Dry floor events including multiple consignment sales, a K9 Flyball competition
and a Home Design Expo will generate additional revenue as well as showcase
the facilities for future dry floor events.
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A number of maintenance projects will be undertaken at the Ames Arena to
maintain the facility at optimum efficiency and improve conditions to meet
customer expectations. A complete description is provided in the General Fund
narrative.
A plan to install an energy management system at Hasse Arena will help to
control operating expenses and improve ice plant efficiency by reducing run times
and maximizing non-peak hours.
Overall, the Arena operations are very strong both financially and operationally.
Customer satisfaction and community involvement continue to be high. The changes in
the budget and operations will further enhance Arena performance capabilities.
Proposed 2016 Budget Highlights
Maintaining current programs and expanding facility use opportunities requires an
investment in facility maintenance and equipment. As such, the salient budget proposals
are as follows.
Ice rental rates for 2016-17 are proposed to remain steady 2015-16 rates at $225
per hour.
The projected 2016 ice rental hours during the winter season are expected to
remain steady with past seasons.
Learn to Skate, high school game attendance and concession sales are expected to
remain steady in 2016.
Building repair and maintenance items addressed in 2014 & 2015 will help to
reduce operational and repair costs in 2016.
Investment in major maintenance of the Ames Arena will ensure long term
operational reliability and success at the building. Ames Arena is continually in
need of major maintenance in order to improve energy and operational
efficiencies and to improve the customer experience of the facility. The many
energy efficient improvements over the past years including an energy recovery
dehumidification system installed in 2009, low-e ceiling installation in 2010 in
Rink 2 and building management controls installed in 2011 are major reasons for
the management of overall energy consumption.
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Future
The primary goal of Lakeville Arenas is to continue to focus on marketing efforts which
will result in an expansion of the facility use and revenue base with the expectation that
ice use rates in future years will continue to be competitive with those of surrounding
communities.
The staff has developed a long range plan for future equipment acquisitions and
replacements. A specific issue affecting the ice making equipment at Ames and Hasse
Arenas is the planned phase-out by the Environmental Protection Agency of the
refrigerant HCFC-22 (R-22), which is currently the primary refrigerant used to cool the
ice sheets in our arenas. The proposed budget accounts for short term operating
requirements while the Capital Reserve Plan addresses the anticipated intermediate and
long term needs required to comply with this mandate.
The future is indeed very bright for the long term outlook for the Arenas and the
community. The facilities are well structured to accommodate user needs.
Conclusion
The success of these programs has established a foundation for expanded use of the
arenas by the community’s residents in the years to come. Our objective for the coming
year is to expand on the success by creating even greater opportunities and enjoyable
experiences for the customers.
The proposed budget is consistent with the purpose of the Joint Powers Agreement to
“…operate and manage the Arena Complex in the best interests of the community.” The
organization will continue its efforts to undertake entrepreneurial endeavors to maximize the
return on the public investment.
Respectfully submitted,
Shayne Ratcliff
Shayne Ratcliff
Arenas Manager
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59% 26%
3%
4%
4%
2% 2% Lakeville Hockey Association - 59%
ISD 194 - 26%
Other Hockey Associations - 3%
Adult Hockey - 4%
Public Skating - 4%
Learn to Skate - 2%
Other - 2%
General (Operating) Fund
The General Fund accounts for the overall operations of the Lakeville Arenas.
Operating Revenues
In order to adequately finance operations, sufficient revenues must be provided through a
concerted effort of maximizing facility use rentals and facility use fee adjustments. The 2016
revenues from operations are estimated to be $1,106,663 of which $928,295 (84% of budget)
is from ice rental in order to adequately finance Arena operations.
2016 Increase/
PROPOSED (decrease)
Operating Revenues
Ice Rental 928,295$ 16,645
Dry floor 30,240 1,855
Learn to Skate 42,720 -
Admissions-Public Skating 13,250 -
Event Admissions(Net of ISD Reimb)34,000 -
Skate Sharpening 5,900 -
Skate Rental 4,300 -
Concessions and pro shop - net 20,000 -
Vending Machines 6,000 (550)
Other - Advertising Contract 19,600 -
Other - Miscellaneous 2,358 1,565
Total Revenues 1,106,663 19,515
Ice rental hours are expected to be 100% rented from November thru February to either the
school district, youth hockey groups, public skating or learn to skate programs. The primary
ice customers are listed below.
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In order to adequately finance operations; the winter ice rental rates for the 2016-17
season will remain unchanged at $225 per hour. Non-winter season ice rental is proposed
to remain unchanged at $160 per hour in 2015. The following is a comparison of prime time
winter and summer rates with other communities for the 2014-2015 season.
Dry floor program opportunities have been greatly enhanced with the installation of
artificial turf at the Olympic size rink at Ames Arena. Lakeville Arenas will continue to
aggressively pursue renting of the facilities for dry floor activities. Target customers continue
to be youth sports activities such as soccer, lacrosse and baseball. The Arenas have
numerous dry floor events scheduled for 2015. The Arenas will continue to market itself as a
showcase for trade shows and other exhibition programs. Revenues from dry floor activities
are estimated to be $30,240.
The Learn to Skate program has enrolled over 4,000 participants since its return in 2007.
With our highly qualified Director and competent staff, we expect the program to be a
continued success. For the 2015-16 season, the hours of operation will continue to include:
i) Four (4) 8 week sessions over the course of a year
Fall and Winter sessions will be held at Hasse Arena
Spring and Summer sessions will be held at Ames Arena
ii) Fall/Winter sessions will include 4.5 hours on Saturday mornings
iii) Spring session will include 2.5 hours on Tuesday mornings &
evenings and 4.5 hours on Saturday mornings
iv) Summer session will consist of 2.5 hours on Tuesday evenings
2014 Adj.2015
Richfield 195 $ - $ 195 $
Eagan 195 - 195
Bloomington 185 5 190
Burnsville 185 5 190
Minnetonka 190 - 190
St Thomas Acad.185 - 185
Lakeville 160 - 160
Prior Lake 150 10 160
Cottage Grove 145 10 155
Shakopee 145 5 150
Apple Valley N/A N/A N/A
Farmington N/A N/A N/A
Summer Prime Rate
2014-15 Adj. 2015-16
Lakeville 215$ 10$ 225$
Prior Lake 220 2 222
Burnsville 220 - 220
St. Thomas Acad.220 - 220
Apple Valley 215 - 215
Farmington 210 - 210
Cottage Grove 205 - 205
Eagan 200 5 205
Richfield 195 10 205
Minnetonka 190 10 200
Shakopee 195 5 200
Bloomington 185 5 190
Winter Prime Rate
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The public skating program increased during 2014 but overall attendance was slowed due
to fewer sessions offered during the prime winter months. This reduction was due to
numerous double header high school games on Saturday afternoons which take scheduling
priority over public skating sessions. For the 2015-16 winter season, the hours of operation
will continue to be offered in the same manner as last season; Saturdays from 5:45pm –
7:15pm and Sundays from 1:30pm – 3:00pm for $4.00/person and $3.00/skate rental. The
budget anticipates approximately $17,550 of revenues from public skate admissions and
skate rental.
Pro Shop Sales / Skate Sharpening are provided at both Ames and Hasse Arena.
Concessions operations at Ames Arena and Hasse Arena have been managed by the Arena
staff since October 2012. Concessions revenue is expected to remain steady from 2014 as
overall arena operations will be very similar to the previous year. The budget anticipates
approximately $20,000 of revenues from the concession stand operation.
Vending Machines revenues are approximately $6,000.
Expenditures
The 2016 expenditure budget is $1,104,989 which is an $18,332 (1.7%) increase over the
previous year. The following is a summary of the proposed budget expenditures:
The majority of the costs attributable to operations are fixed costs such as insurance, debt
service, Capital Reserve and certain personnel costs. As such, the arena must seek to
maximize efficiencies by operating the facilities as one complex with a common
objective – providing quality services for the community and maximizing the return on
the public investment.
2016
Proposed Total %
Personnel 353,678 4,422 1.3%
Utilities 261,624 21,532 9.0%
Contractual 195,266 (17,772) -8.3%
Capital reserve fund 130,000 2,000 1.6%
Debt service 88,626 - 0.0%
Commodities 43,795 (750) -1.7%
Other 24,000 14,500
Capital Outlay 8,000 (5,000) -38.5%
Total 1,104,989$ 18,932 $ 1.7%
Increase/(decrease)
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Personnel costs account for approximately 32% of the operating costs. The proposed budget
provides for three full time staff members to operate the facilities.
Arenas Manager
(2) Assistant Managers
The arena also has a contingent of part-time staff including resurfacer drivers, office workers,
Learn to Skate Director, Learn to Skate Instructors, concession and custodians. Part-time
personnel are scheduled based on facility rental commitments. Hence, part-time personnel
costs are directly proportional to revenues.
2015
Proposed Total %
Salaries and benefits
Salaries - Full Time 161,141$ 2,212 $ 1.4%
Salaries - Part Time 128,123 3,959 3.2%
PERA 21,695 1,171 5.7%
FICA 22,129 472 2.2%
Hospitalization 26,482 - 0.0%
Life and Disability 174 - 0.0%
Long Term Disability 356 - 0.0%
Dental Insurance 1,682 - 0.0%
Workers Compensation 5,084 90 1.8%
Total 366,865$ 7,903 $ 2.2%
Increase/(decrease)
Commodities represent approximately 4% of the total budget.
2016
Commodities Proposed Total %
Office Supplies 545$ - $ 0.0%
Operating Supplies 8,250 (300) -3.5%
Motor Fuels 3,000 - 0.0%
Cleaning Supplies 9,000 - 0.0%
Clothing 2,000 (450) -18.4%
Equipment Parts 5,000 - 0.0%
Building Repair Supplies 15,000 - 0.0%
Small Tools/Equipment 1,000 - 0.0%
Total 43,795$ (750) $ -1.7%
Increase/(decrease)
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Other Charges and Services are proposed to decrease by $17,771 (8%) from $213,038 in
2015 to $195,267 in 2016. Other charges and services represent approximately 18% of the
budget expenses.
2016
Other Charges and Services Proposed Total %
Fiscal Management Fees 32,640 $ 640 $ 2.0%
Attorney Fees 50 - 0.0%
Bank Charges 2,220 - 0.0%
Audit 4,988 238 5.0%
Use of Personal Auto 375 - 0.0%
Advertising 5,500 - 0.0%
Insurance 27,110 790 3.0%
Water and Sewer Service 12,000 - 0.0%
Waste Disposal 7,704 - 0.0%
Telephone 5,357 - 0.0%
Postage 340 - 0.0%
Other Contractual 21,187 - 0.0%
Equipment Repair and Maintenance 13,650 - 0.0%
Building Repair and Maintenance 40,416 (21,000) -34.2%
Contract Landscaping 1,800 50 2.9%
Schools and Conferences 1,500 - 0.0%
Business Meetings/Misc. Expenses 200 - 0.0%
Dues/Subscriptions/Licenses 4,480 - 0.0%
Snow Removal 13,750 1,511 12.3%
Total 195,267 $ (17,771) $ -8.3%
Increase/(decrease)
The budget provides for annual audit services. Use of personal auto is attributed to the staff
traveling between the Ames and Hasse Arenas. Advertising is comprised of flyers, signage
and publication advertising. Insurance premiums for liability, property and casualty
insurance provides coverage for both facilities.
“Other Contractual” ($21,187) includes water treatment services, alarm system monitoring,
water softening, fire extinguisher and sprinkler system testing. “Fiscal Management Fees” is
a charge from the City of Lakeville to provide support services such as payroll, human
resources, annual financial reports, periodical financial reports, accounts payable,
Information Technology support and other administrative support functions for the arenas.
Equipment Repair and Maintenance costs for 2016 are projected to be $13,650 in order to
address maintenance requirements at the arenas. Some of the significant projects include
repairs to ice resurfacers ($7,000), dehumidification repairs ($2,500) and replacement dasher
board glass ($1,500). The equipment repair costs are estimated to remain steady at $13,650
for 2016.
Building Repair and Maintenance provides appropriations for maintenance agreements
relating to HVAC, refrigeration and ice painting as well as major maintenance projects. The
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costs for 2015 are estimated to be $61,416 in order to address major maintenance
requirements at the arenas. Some of the significant projects include the replacing of aging
sound system amplifiers ($6,500), stair tread covers on Ames bleacher steps ($3,500), Hasse
Arena Ice Plant Oil Change ($2,500), Repairs to the Hasse Arena Roof ($2,500), repainting
locker rooms at Ames #2 ($1,000) and restriping the Hasse Arena parking lot ($750). The
proposed 2016 budget for building repair and maintenance will decrease by $21,000 (34%) a
result of completing a significant number of major maintenance projects in 2015.
The budget provides for fertilizer and herbicide applications at the two arenas. Lawn
mowing is performed by arena staff.
Schools and Conferences provides for attendance by arena staff at the Minnesota Ice Arena
Managers Workshop & Conference. Dues and subscriptions ($4,480) include the Minnesota
Department of Health food license for the concession stand, annual elevator operating permit
and music service licenses to accommodate public skating.
Snow removal contracts ($13,750) are required for the Ames and the Hasse Arena.
Utilities. Utilities are presumed to increase 8% for electrical and 12% for natural gas for the
upcoming year. Utilities represent 24% of the total budget and are the predominant reason
for increases in ice arena operating costs.
2015 2016
Utilities Estimate Proposed Total %
Electric Service 181,986 $ 196,545$ 14,559 $ 8.0%
Gas Service 58,106 65,079 6,973 12.0%
Total 240,092 $ 261,624$ 21,532 $ 20.0%
Increase/(decrease)
Capital Outlay items are included in budget to replace assets; which have exceeded their
useful life. Items include:
2015 2016 Total %
Motion Activated
Flushometers - Ames 3,000$ -$ (3,000)$ -100.0%
ADA Compliant Restroom
Faucets - Ames 1500 0 -1500 -100.0%
Energy Management System -
Hasse 8500 0 -8500 -100.0%
Hot Water Heater
Replacement - Ames 5500 5500
Desktop Computers -$ 2,500$ 2500
Total 13,000$ 8,000$ 2,500 $ 19.2%
Increase/(decrease)
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Debt Service. The Ames Arena was financed with the issuance of debt which is repaid with
LHA pull-tab revenues ($95,000) and arena operations ($88,626). Final payment on the
Ames Arena debt is in August 2019. The LHA pull-tab revenues are pledged to the City for
payment of the debt and therefore not accounted for within the Lakeville Arenas budget.
2015 2016
Estimate Proposed Total %
Debt Service Payments 88,626$ 88,626$ -$ 0.0%
Increase/(decrease)
The debt service for Hasse Arena is financed by the City of Lakeville and Independent
School District 194. The annual payments ($523,952) are not an obligation of Lakeville
Arenas and therefore not included in the budget.
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Fund balance
Arena revenues are highly cyclical with revenues exceeding expenditures in the months of
November through April. However, in the months of May through October, expenditures
tend to exceed revenues. Cash balances are at their lowest in October and early November.
As such, it is important that the fund balances at the beginning of the year are adequate to
provide sufficient working capital to sustain operations through the first 10 months of the
year.
The proposed budget results in an ending balance of $332,950 in 2015 and $335,624 in 2016.
2015 2016
Estimate Proposed Total %
Operating Revenues
Ice Rental 911,650$ 928,295$ 16,645$ 1.8%
Other revenues 176,513 178,368 1,855 1.1%
Total Revenues 1,088,163$ 1,106,663$ 18,500$ 1.7%
Operating expenses
Personnel 349,256$ 353,678$ 4,422.00$ 1.3%
Utilities 240,092 261,624 21,532 9.0%
Contractual 213,038 195,266 (17,772) -8.3%
Debt service 88,626 88,626 - 0.0%
Commodities 44,545 43,795 (750) -1.7%
Capital reserve fund 128,600 130,000 1,400 1.1%
Other 9,500 24,000 14,500 152.6%
Capital Outlay 13,000 8,000 (5,000) -38.5%
Total 1,086,657$ 1,104,989$ 18,332$ 1.7%
Net increase/(decrease)1,506 1,674 168
Fund balance, beginning 332,444 333,950 1,506
Fund balance, ending 333,950$ 335,624$ 1,674$
Increase/(decrease)
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Capital Reserve Fund
The purpose of the Capital Reserve Fund is to provide a financial framework for replacement
of the arena infrastructure as it ages including but not limited to roofs, dehumidification, and
refrigeration systems.
The following is a summary of the Capital Reserve Fund Budget.
2015 2016 2017 2018 2019
Revenues
Transfers from Operating Fund 128,600$ 130,000$ 142,000 $ 155,000 $ 169,000 $
Interest on investments 234 301 367 492 481
Total revenues 128,834$ 130,301$ 142,367 $ 155,492 $ 169,481 $
Expenditures
Compressor #2 Replacement 16,324$
Ames Arena Scoreboard 49,314$
Compressor #4 Replacement 16,813$
Rink #1 Radiant Heater Replacement 47,684$
Compressor #1 Replacement 17,317 $
RTU #2 - Ames 16,962 $
Ice Resurfacer Ames #2 140,916 $
Ice Edger Ames #2 8,700 $
Ames Arena - Parking Lot 154,050 $
Total expenditures 65,638$ 64,497$ 17,317 $ 166,578 $ 154,050 $
Net increase/(decrease)63,196 65,804 125,050 (11,086) 15,431
Balance January 1 238,042 301,238 367,042 492,092 481,006
Balance December 31 301,238$ 367,042$ 492,092 $ 481,006 $ 496,437 $
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2020 2021 2022 2023 2024
Revenues
Transfers from Operating Fund 210,000$ 229,000$ 250,000 $ 273,000$ 298,000$
Interest on investments 496 (386) (393) (385) (865)
Total revenues 210,496$ 228,614$ 249,607 $ 272,615$ 297,135$
Expenditures
Ames Arena - Roof 571,164$
Ames Arena - Ice Plant 521,909$
Ames #1 Dehumidification 235,251$
Hasse Dehimidfication 242,308 $
Ames #2 Roof 404,315$
Lobby Flooring - Hasse 170,469$
Artificial Turf 121,007$
Hasse Signage 48,403$
Ames #1 Rink Floor 806,248$
Total expenditures 1,093,073$ 235,251$ 242,308 $ 744,194$ 806,248$
Net increase/(decrease)(882,577) (6,637) 7,299 (471,579) (509,113)
Balance January 1 481,006 (401,571) (408,208) (400,909) (872,488)
Balance December 31 (401,571)$ (408,208)$ (400,909)$ (872,488)$ (1,381,601)$
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2014 2015 2016
Actual Estimate Proposed
Operating Revenues
Ice Rental 909,925$ 911,650$ 928,295$
Dry floor 31,294 28,385 30,240
Learn to Skate 40,003 42,720 42,720
Admissions-Public Skating 13,053 13,250 13,250
Event Admissions(Net of ISD Reimb)44,012 34,000 34,000
Skate Sharpening 6,112 5,900 5,900
Skate Rental 6,115 4,300 4,300
Concessions and pro shop - net 26,872 20,000 20,000
Vending Machines 5,800 6,000 6,000
Other - Advertising Contract 20,663 19,600 19,600 9,186 2,000 2,000 Other - Miscellaneous 258 358 358
Total Revenues 1,113,293 1,088,163 1,106,663
Expenditures
Salaries and benefits
Salaries - Full Time 158,155 161,141 163,413
Salaries - Part Time 108,694 114,887 116,952
PERA 14,276 15,394 15,046
FICA 19,945 21,116 21,448
Hospitalization 26,658 27,758 27,758
Life and Disability 174 174 174
Long Term Disability 358 356 356
Dental Insurance 1,682 1,728 1,728
Workers Compensation 6,522 6,702 6,804
Total 339,282 349,256 353,678
Lakeville Arenas
Statement of Revenue and Expense
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2014 2015 2016
Actual Estimate Proposed
Commodities
Office Supplies 738 545 545
Operating Supplies 13,008 8,550 8,250
Motor Fuels 902 3,000 3,000
Cleaning Supplies 10,240 9,000 9,000
Clothing 2,090 2,450 2,000
Equipment Parts 3,065 5,000 5,000
Building Repair Supplies 20,302 15,000 15,000
Small Tools/Equipment 1,365 1,000 1,000
Total 51,710 44,545 43,795
Other Charges and Services
Fiscal Agent fees 32,000 32,000 32,640 Attorney Fees - 50 50
Bank charges 1,650 2,220 2,220
Audit 4,650 4,750 4,988
Use of Personal Auto - 375 375
Advertising 8,896 5,500 5,500
Insurance 27,861 26,320 27,110
Water and Sewer Service 10,782 12,000 12,000
Waste Disposal 6,737 7,704 7,704
Telephone 4,982 5,357 5,357
Postage 39 340 340
Other Contractual 18,657 21,187 21,187
Equipment Repair and Maintenance 10,582 13,650 13,650
Building Repair and Maintenance 72,933 61,416 40,416
Contract Landscaping 1,710 1,750 1,800
Schools and Conferences 554 1,500 1,500
Business Meetings/Misc. Expenses - 200 200
Dues/Subscriptions/Licenses 3,969 4,480 4,480
Snow Removal 9,466 12,239 13,750
Bad Debts 30,360 - -
Capital Outlay 10,297 13,000 8,000
Total 256,125 226,038 203,266
Lakeville Arenas
Statement of Revenue and Expense
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2014 2015 2016
Actual Estimate Proposed
Utilities
Electric Service 181,042 181,986 196,545
Gas Service 54,394 58,106 65,079
Total 235,436 240,092 261,624
Contingency - 9,500 24,000
Debt Service Payments 88,626 88,626 88,626
Sub Total Operating 971,179 958,057 974,989
Net Operating Income (Loss)142,114 130,106 131,674
Capital Reserve Fund 119,600 128,600 130,000
Total expenditures 1,090,779 1,086,657 1,104,989
Net Income (Loss)22,514 1,506 1,674
Fund Balance Beginning of Year 309,930 332,444 333,950
Fund Balance End of Year 332,444$ 333,950$ 335,624$
Lakeville Arenas
Statement of Revenue and Expense