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HomeMy WebLinkAbout07-2020 Golf FinMonthly Financial Statements - Golf July 2020 City of South Bend Venues Parks & Arts 321 East Walter Street South Bend, IN 46614 “We Build Community Through People, Parks, & Programs” 1 GOLF COURSE OPERATIONS STATEMENT OF REVENUES AND EXPENSES FOR THE SEVEN MONTHS ENDED JULY 31, 2020 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 202,211$ 174,077$ 37,856$ 414,144$ Season Ticket Sales (a) 36,100 58,330 67,218 161,648 Cart Rentals 92,102 73,726 12,982 178,810 Merchandise Sales 13,960 11,063 1,182 26,205 Driving Range 17,012 N/A N/A 17,012 Gift Certificates (Net) 2,649 4,119 - 6,768 Miscellaneous 248 29 194 470 Total Golf Operating Revenues: 364,282$ 321,344$ 119,519$ 805,145$ Concession Operating Revenues: Food Sales 13,404$ 9,668$ 319$ 23,391$ Pop Sales 8,443 6,160 1,965 16,568 Alcohol Sales 31,901 21,719 N/A 53,620 Golf Outings - - N/A - Miscellaneous/Reservations/Other 75 2,303 - 2,378 Total Concession Operating Revenues: 53,823$ 39,850$ 2,283$ 95,956$ Total Operating Revenues:418,105$ 361,194$ 121,802$ 901,101$ Golf Operating Expenses: Personnel (b) 206,068$ 206,068$ 45,793$ 457,929$ Shared Administrative Expenses (b) 30,442 30,442 6,765 67,648 Cost of Good Sold 30,208 23,601 1,300 55,109 Supplies 94,059 94,059 20,902 209,020 Contractual 23,440 23,440 5,209 52,089 Debt Service 33,070 33,070 7,349 73,489 Total Golf Operating Expenses: 417,286$ 410,680$ 87,317$ 915,284$ Total Operating Expenses: 417,286$ 410,680$ 87,317$ 915,284$ Operating Income (Loss) 818$ (49,486)$ 34,485$ (14,183)$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (22%, 36%, 42%, respectively) (b) Shared advertising revenues and administrative expenses are allocated to Elbel, Erskine, and Studebaker on a 45%, 45%, 10% basis, respectively. The expenses include shared personnel costs, supplies, contractuals, and administrative fees. 2 GOLF COURSE OPERATIONS REVENUES BY COURSE FOR THE SEVEN MONTHS ENDED JULY 31, 2020 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2019 2020 2019 2020 2019 2020 2019 2020 GREEN FEES $156,307 $202,211 $132,302 $174,077 $30,680 $37,856 319,290 $414,144 $94,854 30% SEASON PASS SALES 24,513 30,652 119,927 118,568 11,200 12,428 155,640 161,648 6,008 4% CART RENTALS 86,298 92,102 69,933 73,726 12,389 12,982 168,620 178,810 10,191 6% MERCHANDISE SALES 12,426 13,960 10,014 11,063 1,275 1,182 23,715 26,205 2,490 10% DRIVING RANGE RECEIPTS 15,390 17,012 N/A N/A N/A N/A 15,390 17,012 1,622 11% LEAGUE ENTRY FEES 0 0 540 0 72 87 612 87 (525)0% TOTAL $294,935 $355,938 $332,717 $377,434 $55,616 $64,535 $683,268 $797,906 $114,639 17% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2017 THRU 2020 (THROUGH JULY) AVERAGE GOLF COURSE 2017 2018 2019 2017-19 2020 Elbel (Daily) 8,009 8,427 8,680 8,372 9,953 Elbel (Season) 2,576 2,153 2,346 2,358 1,783 ELBEL TOTAL 10,585 10,580 11,026 10,730 11,736 CHANGE FROM PREV YR.0% 4% 6% Erskine (Daily) 9,107 9,581 7,487 8,725 9,020 Erskine (Season) 4,703 3,969 3,156 3,943 2,881 ERSKINE TOTAL 13,810 13,550 10,643 12,668 11,901 CHANGE FROM PREV YR.-2% -21% 12% Studebaker (Daily) 5,306 4,838 3,736 4,627 4,675 Studebaker (Season) 343 219 1,939 834 3,320 STUDEBAKER TOTAL 5,649 5,057 5,675 5,460 7,995 CHANGE FROM PREV YR.-10% 12% 41% Total (Daily) 22,422 22,846 19,903 21,724 23,648 Total (Season) 7,622 6,341 7,441 7,135 7,984 TOTAL COURSES 30,044 29,187 27,344 28,858 31,632 CHANGE FROM PREV YR.-3% -6% 16% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE SEVEN MONTHS ENDED JULY 31, 2020 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Player 9-Holes - Preferred Player - Weekday 427 4.29% 4,228$ 2.09% 700 7.76% 6,999 4.02% 1,127 5.94% 11,227$ 2.98% Preferred Player 9-Holes - Preferred Player - Weekend - 0.00% - 0.00% 32 0.35% 320 0.18% 32 0.17% 320 0.09% Preferred Player 18-Holes - Preferred Player - Weekday 1,323 13.29% 11,875 5.87% 1,212 13.44% 10,981 6.31% 2,535 13.36% 22,857 6.07% Preferred Players Card - Weekend - After 2:00 159 1.60% 1,431 0.71% 116 1.29% 1,044 0.60% 275 1.45% 2,475 0.66% Preferred Players Card - Weekend - Before 12:00 304 3.05% 6,072 3.00% 306 3.39% 6,687 3.84% 610 3.22% 12,759 3.39% Preferred Players Card - Weekend - WE 12:00 - 2:00 27 0.27% 455 0.23% 24 0.27% 368 0.21% 51 0.27% 823 0.22% GolfNow Pay at Course 2,067 20.77%71,338 35.28%1,625 18.02%52,344 30.07%3,692 19.46%123,682 32.87% Outing 130 1.31% 2,080 1.03% - 0.00% - 0.00% 130 0.69% 2,080 0.55% 18 Holes - Weekday - After 3 :00 344 3.46% 7,397 3.66% 92 1.02% 2,199 1.26% 436 2.30% 9,596 2.55% 18 Holes - Weekday - Before 3 :00 900 9.04% 20,206 9.99% 509 5.64% 13,855 7.96% 1,409 7.43% 34,061 9.05% 18 Holes - Weekend - 12:00-4:00 373 3.75% 9,056 4.48% 218 2.42% 5,382 3.09% 591 3.11% 14,438 3.84% 18 Holes - Weekend - After 4 :00 91 0.91% 1,926 0.95% 45 0.50% 1,080 0.62% 136 0.72% 3,006 0.80% 18 Holes - Weekend - Before 12:00 717 7.20% 20,385 10.08% 564 6.25% 17,256 9.91% 1,281 6.75% 37,641 10.00% 9 Holes 2,058 20.68% 29,719 14.70% 2,006 22.24% 30,791 17.69% 4,064 21.42% 60,510 16.08% League 9-Hole - 0.00% - 0.00% 465 5.16% 6,510 3.74% 465 2.45% 6,510 1.73% Junior - Weekday - 18 25 0.25% 615 0.30% 207 2.29% 3,306 1.90% 232 1.22% 3,921 1.04% Junior - Weekend - 18 9 0.09% 183 0.09% 20 0.22% 515 0.30% 29 0.15% 698 0.19% Senior - Weekday 774 7.78% 13,700 6.78% 441 4.89% 7,915 4.55% 1,215 6.40% 21,615 5.74% Senior - Weekend 53 0.53% 1,165 0.58% 49 0.54% 1,078 0.62% 102 0.54% 2,243 0.60% SPRING - 18 Holes - Weekday - All Day - 0.00% - 0.00% 63 0.70% 945 0.54% 63 0.33% 945 0.25% SPRING - 18 Holes - Weekend - After 2:00 - 0.00% - 0.00% 21 0.23% 315 0.18% 21 0.11% 315 0.08% SPRING - 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 84 0.93% 1,645 0.94% 84 0.44% 1,645 0.44% SPRING - 9 Holes - 0.00% - 0.00% 185 2.05% 2,036 1.17% 185 0.98% 2,036 0.54% SPRING - Junior - Weekday - 0.00% - 0.00% 4 0.04% 85 0.05% 4 0.02% 85 0.02% SPRING - Junior - Weekend - 0.00% - 0.00% 2 0.02% 54 0.03% 2 0.01% 54 0.01% SPRING - Senior - Weekday - 0.00% - 0.00% 18 0.20% 198 0.11% 18 0.09% 198 0.05% SPRING - Senior - Weekend - 0.00% - 0.00% 1 0.01% 15 0.01% 1 0.01% 15 0.00% Bounce Back 16 0.16% 174 0.09% - 0.00% - 0.00% 16 0.08% 174 0.05% Other 156 1.57% 206 0.10% 11 0.12% 154 0.09% 167 0.88% 360 0.10% TOTAL 9,953 100.00%$202,211 100.00%9,020 100.00%$174,077 100.00%18,973 100.00%$376,288 100.00% 5