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��� <br />ATTACHMENT 5 <br />Memo re: SupplementalFinance Info <br />Memo <br />To: Oval Task Force <br />From: Chris Miller, Finance Director <br />Date: March 10,2005 <br />Re: Supplemental Financial Information on the Oval & Skating Center <br />The following is some supplemental financial information regarding the OvallSkating Center <br />that should address the inquiries raised at the last Task Force Meeting. <br />Q: What is the approximate percentage of gas and electric energy costs for the Oval and <br />Arena? <br />A: The total annual energy costs for the entire facility averages $185,000 annually, of which <br />approximately $85,000 or 45% is attributable to the Oval. <br />Q: What is the approximate percentage of revenues for the Oval and Arena? <br />A: The total annual revenues for the entire facility averages $900,000, of which appro�mately <br />$210,000 or 23°/o is attributableto the Oval. <br />Q: How does the Oval's (Skating Cen#er) budget compare to the total Parks & Recreation <br />Budget and the overall City Budget? <br />A: For 2005, the Skating Center, which includes the Oval, Arena, and Banquet Center, has an <br />annual budget of $998,000. This compares to a total Parks & Recreation Budget of $3,690,365, <br />and a citywide budget of $32,684,430. <br />Q: If we eliminate the Oval portion of the facility, what are the shut-downitear-down costs <br />and what are the expected n r� savings? <br />A: Shutting down or "moth-balling" the Oval would save the City the variable costs such as <br />utilities, chemicals, and part-timelseasonal workers. However, the Oval's fixed costs which <br />include a portion of the full-time regular staff of the Skating Center, insurance, etc. would still <br />remain. Roughly one-third to one-half of the fiYed costs would be eliminated. In total it is <br />estimated that appro�mately $25,000 - 50,000 in nc� savings would be realized if the Oval was <br />shut down. <br />ATTACHMENT 5 I <br />Memo re: Supplemental Finance Info <br />