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HomeMy WebLinkAbout10-2020 Golf FinMonthly Financial Statements - Golf October 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 TEN MONTHS ENDED OCTOBER 31, 2020 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 369,617$ 318,311$ 77,241$ 765,169$ Season Ticket Sales (a) 47,610 50,566 64,683 162,860 Cart Rentals 170,212 146,441 26,943 343,595 Merchandise Sales 25,723 23,029 2,344 51,096 Driving Range 30,332 N/A N/A 30,332 Gift Certificates (Net) 4,385 5,965 - 10,350 Miscellaneous 1,276 915 517 2,707 Total Golf Operating Revenues: 649,155$ 545,227$ 171,728$ 1,366,110$ Concession Operating Revenues: Food Sales 28,690$ 16,646$ 549$ 45,886$ Pop Sales 14,698 12,109 3,601 30,408 Alcohol Sales 62,360 42,472 N/A 104,832 Golf Outings - - N/A - Miscellaneous/Reservations/Other 75 2,103 - 2,178 Total Concession Operating Revenues: 105,824$ 73,330$ 4,150$ 183,304$ Total Operating Revenues:754,978$ 618,557$ 175,878$ 1,549,413$ Golf Operating Expenses: Personnel (b) 339,494$ 339,494$ 75,443$ 754,430$ Shared Administrative Expenses (b) 114,319 114,319 25,404 254,042 Cost of Good Sold 58,583 45,150 2,480 106,213 Supplies 99,842 72,530 10,761 183,134 Contractual 23,693 13,795 2,748 40,236 Debt Service 33,184 33,184 7,374 73,742 Total Golf Operating Expenses: 669,114$ 618,472$ 124,211$ 1,411,796$ Total Operating Expenses: 669,114$ 618,472$ 124,211$ 1,411,796$ Operating Income (Loss) 85,865$ 86$ 51,667$ 137,618$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (29%, 31%, 40%, 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 TEN MONTHS ENDED OCTOBER 31, 2020 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2019 2020 2019 2020 2019 2020 2019 2020 GREEN FEES $261,664 $369,617 $223,828 $318,311 $50,089 $77,241 535,581 $765,169 $229,588 43% SEASON PASS SALES 24,643 30,764 120,087 119,568 11,200 12,529 155,930 162,860 6,930 4% CART RENTALS 139,980 170,212 126,843 146,441 20,681 26,943 287,504 343,595 56,091 20% MERCHANDISE SALES 19,707 25,723 20,000 23,029 2,039 2,344 41,747 51,096 9,350 22% DRIVING RANGE RECEIPTS 22,226 30,332 N/A N/A N/A N/A 22,226 30,332 8,106 36% LEAGUE ENTRY FEES 414 0 540 0 153 0 1,107 0 (1,107)0% TOTAL $468,635 $626,647 $491,298 $607,349 $84,162 $119,057 $1,044,095 $1,353,052 $308,957 30% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2017 THRU 2020 (THROUGH OCTOBER) AVERAGE GOLF COURSE 2017 2018 2019 2017-19 2020 Elbel (Daily) 13,661 13,400 14,401 13,821 18,232 Elbel (Season) 4,213 3,417 4,589 4,073 4,381 ELBEL TOTAL 17,874 16,817 18,990 17,894 22,613 CHANGE FROM PREV YR.-6% 13% 19% Erskine (Daily) 14,453 14,898 13,146 14,166 18,580 Erskine (Season) 7,962 6,554 6,146 6,887 4,653 ERSKINE TOTAL 22,415 21,452 19,292 21,053 23,233 CHANGE FROM PREV YR.-4% -10% 20% Studebaker (Daily) 8,370 7,965 6,059 7,465 9,402 Studebaker (Season) 669 488 3,369 1,509 5,952 STUDEBAKER TOTAL 9,039 8,453 9,428 8,973 15,354 CHANGE FROM PREV YR.-6% 12% 63% Total (Daily) 36,484 36,263 33,606 35,451 46,214 Total (Season) 12,844 10,459 14,104 12,469 14,986 TOTAL COURSES 49,328 46,722 47,710 47,920 61,200 CHANGE FROM PREV YR.-5% 2% 28% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE TEN MONTHS ENDED OCTOBER 31, 2020 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Player 9-Holes - Preferred Player - Weekday 779 4.27% 7,735$ 2.09% 1,252 6.74% 12,519 3.93% 2,031 5.52% 20,254$ 2.94% Preferred Player 9-Holes - Preferred Player - Weekend - 0.00% - 0.00% 66 0.36% 660 0.21% 66 0.18% 660 0.10% Preferred Player 18-Holes - Preferred Player - Weekday 2,273 12.47% 20,398 5.52% 2,443 13.15% 22,051 6.93% 4,716 12.81% 42,450 6.17% Preferred Players Card - Weekend - After 2:00 275 1.51% 2,466 0.67% 230 1.24% 2,070 0.65% 505 1.37% 4,536 0.66% Preferred Players Card - Weekend - Before 12:00 554 3.04% 10,897 2.95% 520 2.80% 11,395 3.58% 1,074 2.92% 22,292 3.24% Preferred Players Card - Weekend - WE 12:00 - 2:00 71 0.39% 1,116 0.30% 49 0.26% 862 0.27% 120 0.33% 1,978 0.29% Preferred Players Card - Labor Day 24 0.13% 381 0.10% 17 0.09% 310 0.10% 41 0.11% 691 0.10% Plantinum Walking Pass - 18 Holes - 0.00% - 0.00% 1,634 8.79% 12 0.00% 1,634 4.44% 12 0.00% GolfNow Pay at Course 3,766 20.66%127,903 34.60%2,856 15.37%92,855 29.17%6,622 17.99%220,758 32.09% Outing 186 1.02% 2,892 0.78% - 0.00% - 0.00% 186 0.51% 2,892 0.42% Labor Day - 18 Holes - 0.00% - 0.00% 21 0.11% 622 0.20% 21 0.06% 622 0.09% Labor Day - 9 Holes - 0.00% - 0.00% 26 0.14% 520 0.16% 26 0.07% 520 0.08% 18 Holes - Weekday - After 3 :00 510 2.80% 10,885 2.94% 127 0.68% 3,033 0.95% 637 1.73% 13,918 2.02% 18 Holes - Weekday - Before 3 :00 1,404 7.70% 32,196 8.71% 833 4.48% 22,565 7.09% 2,237 6.08% 54,761 7.96% 18 Holes - Weekend - 12:00-4:00 603 3.31% 14,602 3.95% 358 1.93% 9,296 2.92% 961 2.61% 23,898 3.47% 18 Holes - Weekend - After 4 :00 123 0.67% 2,626 0.71% 60 0.32% 1,449 0.46% 183 0.50% 4,075 0.59% 18 Holes - Weekend - Before 12:00 1,270 6.97% 36,289 9.82% 984 5.30% 30,694 9.64% 2,254 6.12% 66,983 9.74% 9 Holes 3,972 21.79% 57,823 15.64% 3,628 19.53% 55,848 17.55% 7,600 20.65% 113,671 16.52% League 9-Hole - 0.00% - 0.00% 515 2.77% 7,210 2.27% 515 1.40% 7,210 1.05% Junior - Weekday - 18 32 0.18% 714 0.19% 293 1.58% 4,910 1.54% 325 0.88% 5,624 0.82% Junior - Weekend - 18 13 0.07% 289 0.08% 38 0.20% 911 0.29% 51 0.14% 1,200 0.17% Senior - Weekday 1,346 7.38% 23,758 6.43% 747 4.02% 13,406 4.21% 2,093 5.69% 37,164 5.40% Senior - Weekend 83 0.46% 1,821 0.49% 75 0.40% 1,650 0.52% 158 0.43% 3,471 0.50% SPRING - 18 Holes - Weekday - All Day - 0.00% - 0.00% 63 0.34% 945 0.30% 63 0.17% 945 0.14% SPRING - 18 Holes - Weekend - After 2:00 - 0.00% - 0.00% 21 0.11% 315 0.10% 21 0.06% 315 0.05% SPRING - 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 84 0.45% 1,645 0.52% 84 0.23% 1,645 0.24% SPRING - 9 Holes - 0.00% - 0.00% 185 1.00% 2,036 0.64% 185 0.50% 2,036 0.30% 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 0.10% 198 0.06% 18 0.05% 198 0.03% SPRING - Senior - Weekend - 0.00% - 0.00% 1 0.01% 15 0.00% 1 0.00% 15 0.00% FALL - 18 Holes - Weekday - All Day 536 2.94% 7,784 2.11% 206 1.11% 3,006 0.94% 742 2.02% 10,790 1.57% FALL - 18 Holes - Weekend - After 2 37 0.20% 557 0.15% - 0.00% - 0.00% 37 0.10% 557 0.08% FALL - 18 Holes - Weekend - Before 2 299 1.64% 5,541 1.50% - 0.00% - 0.00% 299 0.81% 5,541 0.81% FALL - 18 Holes - Weekend - After 1 - 0.00% - 0.00% 62 0.33% 930 0.29% 62 0.17% 930 0.14% FALL - 18 Holes - Weekend - Before 1 - 0.00% - 0.00% 230 1.24% 4,600 1.45% 230 0.62% 4,600 0.67% FALL - 9 Holes Weekday - 0.00% - 0.00% 192 1.03% 1,935 0.61% 192 0.52% 1,935 0.28% FALL - 9 Holes Weekend - 0.00% - 0.00% 486 2.62% 4,860 1.53% 486 1.32% 4,860 0.71% FALL - Senior - Weekday - 0.00% - 0.00% 221 1.19% 2,349 0.74% 221 0.60% 2,349 0.34% FALL - Senior - Weekend - 0.00% - 0.00% 15 0.08% 225 0.07% 15 0.04% 225 0.03% Bounce Back 43 0.24% 449 0.12% - 0.00% - 0.00% 43 0.12% 449 0.07% Other 33 0.18% 496 0.13% 18 0.10% 266 0.08% 51 0.14% 762 0.11% TOTAL 18,232 100.00%$369,617 100.00%18,580 100.00%$318,311 100.00%36,812 100.00%$687,928 100.00% 5