|
ATTACHMENT 4
<br />Review of the Oval's Financial Performance
<br />The Feasibility Study identified the following revenue sources:
<br />a) Speedskating competitions and training sessions from five (5) competitive clubs
<br />comprised of approximately 165 members; and seven (7) novice clubs comprised of
<br />approximately 470 members
<br />b) Area high school usage comprised of an estimate ten (10) separate high schools offering
<br />girls interscholastic league competitions and practices
<br />c) Youth and adult hockey, figure skating, and instructional classes on a per session basis
<br />d) Bandy competitions and practices including international, national, and regional teams
<br />e) Bandy competitions and practices from thirty-nine (39) identified local area bandy
<br />teams
<br />f} Boot hockey, broomball, public skating, parties, and school system rentals
<br />g) In-line skating, roller hockey, walking and running groups
<br />h) Concessions, pro shop, advertising, sponsorships, room rentals, ticket sales to
<br />competitions
<br />Based upon anticipated utilization, expected fee amounts, and estimated operating costs, the
<br />Study projected the following financial results:
<br />Pro.jected Revenues
<br />Revenues Year 1 Year 2 Year 3
<br />Ice rental $ 150,050 $ 162,855 $ 177,660
<br />Dry floor 10,000 10,500 11,025
<br />Skate rental 5,000 5,250, 5,513
<br />Skate sharpening 2,000 2,100 2,205
<br />Advertising 10,000 10,000 10,000
<br />Sponsorships 10,000 10,000 10,000
<br />Concessions 30,000 31,500 33,075
<br />Pro shop 20,000 21.000 22,050
<br />Meeting room 5,000 5,250 5,513
<br />Total Revenues $242,050 $258,455 $277,041
<br />Pro.jected Expenditures
<br />Expenditures Year 1 Year 2 Year 3
<br />Salaries and wages $70,000 $75,190 $77,445
<br />Benefits 18,000 18,798 19,361
<br />Insurance 5,000 5,150 5,305
<br />Maintenance 4,000 4,120 4,244
<br />Supplies 3,000 3,090 3,183
<br />Administration 4,000 4,120 4,244
<br />Marketing 3,000 3,090 3,183
<br />Pro shop 10,000 10,500 11,025
<br />Concessions 12,000 12,600 13,230
<br />Utilities 36,000 37,080 38,192
<br />Other 2,000 2,060 2,122
<br />Total Expenditures $ 167,000 $175,798 $181,534
<br />�
<br />
|