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HomeMy WebLinkAbout11-2020 Golf FinMonthly Financial Statements - Golf November 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 ELEVEN MONTHS ENDED NOVEMBER 30, 2020 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 380,694$ 337,056$ 77,394$ 795,144$ Season Ticket Sales (a) 42,408 56,592 64,810 163,810 Cart Rentals 173,554 157,733 26,965 358,253 Merchandise Sales 26,274 24,427 2,371 53,072 Driving Range 30,932 N/A N/A 30,932 Gift Certificates (Net) 4,445 6,205 - 10,650 Miscellaneous 1,276 915 517 2,707 Total Golf Operating Revenues: 659,584$ 582,928$ 172,057$ 1,414,569$ Concession Operating Revenues: Food Sales 29,507$ 17,681$ 549$ 47,736$ Pop Sales 15,007 12,858 3,605 31,469 Alcohol Sales 63,953 44,907 N/A 108,860 Golf Outings - - N/A - Miscellaneous/Reservations/Other 150 2,103 - 2,253 Total Concession Operating Revenues: 108,617$ 77,548$ 4,154$ 190,318$ Total Operating Revenues:768,201$ 660,476$ 176,211$ 1,604,887$ Golf Operating Expenses: Personnel (b) 368,130$ 368,130$ 81,807$ 818,066$ Shared Administrative Expenses (b) 115,983 115,983 25,774 257,741 Cost of Good Sold 60,035 47,795 2,482 110,311 Supplies 110,998 76,924 10,761 198,683 Contractual 60,879 48,939 12,309 122,127 Debt Service 33,222 33,222 7,383 73,826 Total Golf Operating Expenses: 749,246$ 690,993$ 140,516$ 1,580,755$ Total Operating Expenses: 749,246$ 690,993$ 140,516$ 1,580,755$ Operating Income (Loss) 18,955$ (30,517)$ 35,695$ 24,133$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (25.9%, 34.5%, 39.6%, 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 ELEVEN MONTHS ENDED NOVEMBER 30, 2020 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2019 2020 2019 2020 2019 2020 2019 2020 GREEN FEES $261,818 $380,694 $227,527 $337,056 $50,157 $77,394 539,502 $795,144 $255,642 47% SEASON PASS SALES 24,643 31,464 120,087 119,818 11,200 12,529 155,930 163,810 7,880 5% CART RENTALS 140,160 173,554 129,167 157,733 20,708 26,965 290,035 358,253 68,218 24% MERCHANDISE SALES 19,708 26,274 21,103 24,427 2,044 2,371 42,855 53,072 10,217 24% DRIVING RANGE RECEIPTS 22,260 30,932 N/A N/A N/A N/A 22,260 30,932 8,672 39% LEAGUE ENTRY FEES 414 0 540 0 153 0 1,107 0 (1,107)0% TOTAL $469,003 $642,918 $498,424 $639,034 $84,262 $119,259 $1,051,690 $1,401,212 $349,522 33% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2017 THRU 2020 (THROUGH NOVEMBER) AVERAGE GOLF COURSE 2017 2018 2019 2017-19 2020 Elbel (Daily) 13,661 13,495 14,416 13,857 18,969 Elbel (Season) 4,213 3,530 4,600 4,114 3,896 ELBEL TOTAL 17,874 17,025 19,016 17,972 22,865 CHANGE FROM PREV YR.-5% 12% 20% Erskine (Daily) 14,834 14,898 13,415 14,382 19,991 Erskine (Season) 8,462 6,554 6,505 7,174 5,199 ERSKINE TOTAL 23,296 21,452 19,920 21,556 25,190 CHANGE FROM PREV YR.-8% -7% 26% Studebaker (Daily) 8,370 7,965 6,067 7,467 9,413 Studebaker (Season) 669 488 3,383 1,513 5,954 STUDEBAKER TOTAL 9,039 8,453 9,450 8,981 15,367 CHANGE FROM PREV YR.-6% 12% 63% Total (Daily) 36,865 36,358 33,898 35,707 48,373 Total (Season) 13,344 10,572 14,488 12,801 15,049 TOTAL COURSES 50,209 46,930 48,386 48,508 63,422 CHANGE FROM PREV YR.-7% 3% 31% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE ELEVEN MONTHS ENDED NOVEMBER 30, 2020 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Player 9-Holes - Preferred Player - Weekday 783 4.13% 7,795$ 2.05% 1,274 6.37% 12,739 3.78% 2,057 5.28% 20,534$ 2.86% Preferred Player 9-Holes - Preferred Player - Weekend - 0.00% - 0.00% 67 0.34% 670 0.20% 67 0.17% 670 0.09% Preferred Player 18-Holes - Preferred Player - Weekday 2,330 12.28% 20,947 5.50% 2,652 13.27% 23,968 7.11% 4,982 12.79% 44,916 6.26% Preferred Players Card - Weekend - After 2:00 275 1.45% 2,475 0.65% 234 1.17% 2,106 0.62% 509 1.31% 4,581 0.64% Preferred Players Card - Weekend - Before 12:00 571 3.01% 11,237 2.95% 533 2.67% 11,614 3.45% 1,104 2.83% 22,851 3.18% Preferred Players Card - Weekend - WE 12:00 - 2:00 80 0.42% 1,260 0.33% 58 0.29% 954 0.28% 138 0.35% 2,214 0.31% Preferred Players Card - Labor Day 24 0.13% 381 0.10% 17 0.09% 310 0.09% 41 0.11% 691 0.10% Plantinum Walking Pass - 18 Holes - 0.00% - 0.00% 1,810 9.05% 12 0.00% 1,810 4.65% 12 0.00% GolfNow Pay at Course 4,004 21.11%134,886 35.43%3,093 15.47%99,599 29.55%7,097 18.22%234,485 32.67% Outing 186 0.98% 2,892 0.76% - 0.00% - 0.00% 186 0.48% 2,892 0.40% Labor Day - 18 Holes - 0.00% - 0.00% 21 0.11% 622 0.18% 21 0.05% 622 0.09% Labor Day - 9 Holes - 0.00% - 0.00% 26 0.13% 520 0.15% 26 0.07% 520 0.07% 18 Holes - Weekday - After 3 :00 510 2.69% 11,083 2.91% 127 0.64% 3,033 0.90% 637 1.64% 14,116 1.97% 18 Holes - Weekday - Before 3 :00 1,404 7.40% 32,246 8.47% 833 4.17% 22,646 6.72% 2,237 5.74% 54,892 7.65% 18 Holes - Weekend - 12:00-4:00 603 3.18% 14,602 3.84% 358 1.79% 9,296 2.76% 961 2.47% 23,898 3.33% 18 Holes - Weekend - After 4 :00 123 0.65% 2,626 0.69% 60 0.30% 1,449 0.43% 183 0.47% 4,075 0.57% 18 Holes - Weekend - Before 12:00 1,270 6.70% 36,319 9.54% 984 4.92% 30,758 9.13% 2,254 5.79% 67,077 9.35% 9 Holes 4,028 21.23% 58,942 15.48% 3,628 18.15% 55,890 16.58% 7,656 19.65% 114,832 16.00% League 9-Hole - 0.00% - 0.00% 515 2.58% 7,224 2.14% 515 1.32% 7,224 1.01% Junior - Weekday - 18 32 0.17% 714 0.19% 293 1.47% 4,910 1.46% 325 0.83% 5,624 0.78% Junior - Weekend - 18 13 0.07% 289 0.08% 38 0.19% 911 0.27% 51 0.13% 1,200 0.17% Senior - Weekday 1,346 7.10% 23,866 6.27% 747 3.74% 13,424 3.98% 2,093 5.37% 37,290 5.20% Senior - Weekend 83 0.44% 1,821 0.48% 75 0.38% 1,650 0.49% 158 0.41% 3,471 0.48% SPRING - 18 Holes - Weekday - All Day - 0.00% - 0.00% 63 0.32% 945 0.28% 63 0.16% 945 0.13% SPRING - 18 Holes - Weekend - After 2:00 - 0.00% - 0.00% 21 0.11% 315 0.09% 21 0.05% 315 0.04% SPRING - 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 84 0.42% 1,645 0.49% 84 0.22% 1,645 0.23% SPRING - 9 Holes - 0.00% - 0.00% 185 0.93% 2,036 0.60% 185 0.47% 2,036 0.28% 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 0.09% 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 559 2.95% 8,118 2.13% 304 1.52% 4,596 1.36% 863 2.22% 12,714 1.77% FALL - 18 Holes - Weekend - After 2 37 0.20% 557 0.15% - 0.00% - 0.00% 37 0.09% 557 0.08% FALL - 18 Holes - Weekend - Before 2 350 1.85% 6,661 1.75% - 0.00% - 0.00% 350 0.90% 6,661 0.93% FALL - 18 Holes - Weekend - After 1 - 0.00% - 0.00% 73 0.37% 1,095 0.32% 73 0.19% 1,095 0.15% FALL - 18 Holes - Weekend - Before 1 - 0.00% - 0.00% 335 1.68% 6,669 1.98% 335 0.86% 6,669 0.93% FALL - 9 Holes Weekday - 0.00% - 0.00% 1,058 5.29% 10,595 3.14% 1,058 2.72% 10,595 1.48% FALL - 9 Holes Weekend - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% - 0.00% FALL - Senior - Weekday - 0.00% - 0.00% 355 1.78% 3,832 1.14% 355 0.91% 3,832 0.53% FALL - Senior - Weekend - 0.00% - 0.00% 26 0.13% 390 0.12% 26 0.07% 390 0.05% Bounce Back 46 0.24% 482 0.13% - 0.00% - 0.00% 46 0.12% 482 0.07% Other 312 1.64% 496 0.13% 19 0.10% 282 0.08% 331 0.85% 778 0.11% TOTAL 18,969 100.00%$380,694 100.00%19,991 100.00%$337,056 100.00%38,960 100.00%$717,750 100.00% 5