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HomeMy WebLinkAbout09-2020 Golf FinMonthly Financial Statements - Golf September 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 NINE MONTHS ENDED SEPTEMBER 30, 2020 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 342,097$ 298,758$ 71,157$ 712,012$ Season Ticket Sales (a) 44,568 49,107 69,249 162,924 Cart Rentals 156,194 131,319 25,806 313,319 Merchandise Sales 23,912 20,762 2,163 46,836 Driving Range 28,428 N/A N/A 28,428 Gift Certificates (Net) 4,385 5,135 - 9,520 Miscellaneous 1,251 915 461 2,626 Total Golf Operating Revenues: 600,835$ 505,995$ 168,836$ 1,275,665$ Concession Operating Revenues: Food Sales 25,395$ 15,366$ 530$ 41,291$ Pop Sales 13,804 11,297 3,450 28,550 Alcohol Sales 57,052 38,746 N/A 95,798 Golf Outings - 2,103 N/A 2,103 Miscellaneous/Reservations/Other 75 - - 75 Total Concession Operating Revenues: 96,326$ 67,512$ 3,980$ 167,818$ Total Operating Revenues:697,161$ 573,507$ 172,815$ 1,443,483$ Golf Operating Expenses: Personnel (b) 288,560$ 288,560$ 64,125$ 641,245$ Shared Administrative Expenses (b) 107,617 107,617 23,915 239,149 Cost of Good Sold 53,554 27,005 1,592 82,151 Supplies 85,874 60,147 9,700 155,721 Contractual 22,711 12,753 2,775 38,238 Debt Service 33,146 33,146 7,366 73,658 Total Golf Operating Expenses: 591,462$ 529,228$ 109,472$ 1,230,162$ Total Operating Expenses: 591,462$ 529,228$ 109,472$ 1,230,162$ Operating Income (Loss) 105,698$ 44,279$ 63,343$ 213,321$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (27%, 30%, 43%, 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 NINE MONTHS ENDED SEPTEMBER 30, 2020 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2019 2020 2019 2020 2019 2020 2019 2020 GREEN FEES $245,472 $342,097 $211,433 $298,758 $47,144 $71,157 504,049 $712,012 $207,963 41% SEASON PASS SALES 24,643 30,827 120,087 119,568 11,200 12,529 155,930 162,924 6,993 4% CART RENTALS 128,778 156,194 116,679 131,319 19,389 25,806 264,845 313,319 48,474 18% MERCHANDISE SALES 18,388 23,912 17,707 20,762 1,950 2,163 38,045 46,836 8,792 23% DRIVING RANGE RECEIPTS 21,285 28,428 N/A N/A N/A N/A 21,285 28,428 7,143 34% LEAGUE ENTRY FEES 414 0 540 0 153 0 1,107 0 (1,107)0% TOTAL $438,980 $581,458 $466,446 $570,406 $79,835 $111,655 $985,261 $1,263,519 $278,258 28% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2017 THRU 2020 (THROUGH SEPTEMBER) AVERAGE GOLF COURSE 2017 2018 2019 2017-19 2020 Elbel (Daily) 12,539 12,965 13,335 12,946 16,685 Elbel (Season) 3,806 3,193 4,129 3,709 3,505 ELBEL TOTAL 16,345 16,158 17,464 16,656 20,190 CHANGE FROM PREV YR.-1% 8% 16% Erskine (Daily) 13,452 14,122 12,193 13,256 16,941 Erskine (Season) 7,135 6,033 5,463 6,210 3,862 ERSKINE TOTAL 20,587 20,155 17,656 19,466 20,803 CHANGE FROM PREV YR.-2% -12% 18% Studebaker (Daily) 7,898 7,508 5,724 7,043 8,702 Studebaker (Season) 583 405 3,075 1,354 5,446 STUDEBAKER TOTAL 8,481 7,913 8,799 8,398 14,148 CHANGE FROM PREV YR.-7% 11% 61% Total (Daily) 33,889 34,595 31,252 33,245 42,328 Total (Season) 11,524 9,631 12,667 11,274 12,813 TOTAL COURSES 45,413 44,226 43,919 44,519 55,141 CHANGE FROM PREV YR.-3% -1% 26% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2020 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Player 9-Holes - Preferred Player - Weekday 754 4.52% 7,488$ 2.19% 1,217 7.18% 12,169 4.07% 1,971 5.86% 19,657$ 3.07% Preferred Player 9-Holes - Preferred Player - Weekend - 0.00% - 0.00% 61 0.36% 610 0.20% 61 0.18% 610 0.10% Preferred Player 18-Holes - Preferred Player - Weekday 2,078 12.45% 18,650 5.45% 2,162 12.76% 19,522 6.53% 4,240 12.61% 38,173 5.96% Preferred Players Card - Weekend - After 2:00 258 1.55% 2,313 0.68% 226 1.33% 2,034 0.68% 484 1.44% 4,347 0.68% Preferred Players Card - Weekend - Before 12:00 520 3.12% 10,237 2.99% 519 3.06% 11,373 3.81% 1,039 3.09% 21,610 3.37% Preferred Players Card - Weekend - WE 12:00 - 2:00 58 0.35% 909 0.27% 48 0.28% 853 0.29% 106 0.32% 1,762 0.27% Preferred Players Card - Labor Day 24 0.14% 381 0.11% 17 0.10% 310 0.10% 41 0.12% 691 0.11% Plantinum Walking Pass - 18 Holes - 0.00% - 0.00% 1,445 8.53% 12 0.00% 1,445 4.30% 12 0.00% GolfNow Pay at Course 3,517 21.08%119,968 35.07%2,689 15.87%88,399 29.59%6,206 18.46%208,367 32.51% Outing 186 1.11% 2,892 0.85% - 0.00% - 0.00% 186 0.55% 2,892 0.45% Labor Day - 18 Holes - 0.00% - 0.00% 18 0.11% 556 0.19% 18 0.05% 556 0.09% Labor Day - 9 Holes - 0.00% - 0.00% 26 0.15% 520 0.17% 26 0.08% 520 0.08% 18 Holes - Weekday - After 3 :00 510 3.06% 10,885 3.18% 127 0.75% 3,033 1.02% 637 1.89% 13,918 2.17% 18 Holes - Weekday - Before 3 :00 1,403 8.41% 32,171 9.40% 831 4.91% 22,511 7.53% 2,234 6.64% 54,682 8.53% 18 Holes - Weekend - 12:00-4:00 601 3.60% 14,575 4.26% 358 2.11% 9,296 3.11% 959 2.85% 23,871 3.72% 18 Holes - Weekend - After 4 :00 123 0.74% 2,626 0.77% 60 0.35% 1,449 0.49% 183 0.54% 4,075 0.64% 18 Holes - Weekend - Before 12:00 1,175 7.04% 33,659 9.84% 984 5.81% 30,694 10.27% 2,159 6.42% 64,353 10.04% 9 Holes 3,646 21.85% 53,030 15.50% 3,628 21.42% 55,848 18.69% 7,274 21.63% 108,879 16.99% League 9-Hole - 0.00% - 0.00% 515 3.04% 7,210 2.41% 515 1.53% 7,210 1.13% Junior - Weekday - 18 32 0.19% 714 0.21% 292 1.72% 4,892 1.64% 324 0.96% 5,606 0.87% Junior - Weekend - 18 13 0.08% 289 0.08% 38 0.22% 911 0.30% 51 0.15% 1,200 0.19% Senior - Weekday 1,346 8.07% 23,758 6.94% 747 4.41% 13,406 4.49% 2,093 6.22% 37,164 5.80% Senior - Weekend 83 0.50% 1,821 0.53% 75 0.44% 1,650 0.55% 158 0.47% 3,471 0.54% SPRING - 18 Holes - Weekday - All Day - 0.00% - 0.00% 63 0.37% 945 0.32% 63 0.19% 945 0.15% SPRING - 18 Holes - Weekend - After 2:00 - 0.00% - 0.00% 21 0.12% 315 0.11% 21 0.06% 315 0.05% SPRING - 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 84 0.50% 1,645 0.55% 84 0.25% 1,645 0.26% SPRING - 9 Holes - 0.00% - 0.00% 185 1.09% 2,036 0.68% 185 0.55% 2,036 0.32% SPRING - Junior - Weekday - 0.00% - 0.00% 4 0.02% 85 0.03% 4 0.01% 85 0.01% SPRING - Junior - Weekend - 0.00% - 0.00% 2 0.01% 54 0.02% 2 0.01% 54 0.01% SPRING - Senior - Weekday - 0.00% - 0.00% 18 0.11% 198 0.07% 18 0.05% 198 0.03% SPRING - Senior - Weekend - 0.00% - 0.00% 1 0.01% 15 0.01% 1 0.00% 15 0.00% FALL - 18 Holes - Weekday - All Day 169 1.01% 2,520 0.74% 50 0.30% 750 0.25% 219 0.65% 3,270 0.51% FALL - 18 Holes - Weekend - After 2 5 0.03% 75 0.02% - 0.00% - 0.00% 5 0.01% 75 0.01% FALL - 18 Holes - Weekend - Before 2 129 0.77% 2,426 0.71% - 0.00% - 0.00% 129 0.38% 2,426 0.38% FALL - 18 Holes - Weekend - After 1 - 0.00% - 0.00% 19 0.11% 285 0.10% 19 0.06% 285 0.04% FALL - 18 Holes - Weekend - Before 1 - 0.00% - 0.00% 81 0.48% 1,620 0.54% 81 0.24% 1,620 0.25% FALL - 9 Holes - 0.00% - 0.00% 229 1.35% 2,305 0.77% 229 0.68% 2,305 0.36% FALL - Senior - Weekday - 0.00% - 0.00% 71 0.42% 781 0.26% 71 0.21% 781 0.12% FALL - Senior - Weekend - 0.00% - 0.00% 10 0.06% 150 0.05% 10 0.03% 150 0.02% Bounce Back 25 0.15% 262 0.08% - 0.00% - 0.00% 25 0.07% 262 0.04% Other 30 0.18% 448 0.13% 20 0.12% 316 0.11% 50 0.15% 764 0.12% TOTAL 16,685 100.00%$342,097 100.00%16,941 100.00%$298,758 100.00%33,626 100.00%$640,855 100.00% 5