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HomeMy WebLinkAbout04-2021 Golf FinMonthly Financial Statements - Golf April 2021 City of South Bend Venues Parks & Arts 219 S. St. Louis Blvd. South Bend, IN 46617 “We Build Community Through People, Parks, & Programs” 1 GOLF COURSE OPERATIONS STATEMENT OF REVENUES AND EXPENSES FOR THE FOUR MONTHS ENDED APRIL 30, 2021 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 40,282$ 44,907$ 5,067$ 90,256$ Season Ticket Sales (a) 62,789 102,795 38,153 203,737 Cart Rentals 18,371 21,942 242 40,555 Merchandise Sales 4,650 6,417 335 11,402 Driving Range 5,281 N/A N/A 5,281 Gift Certificates (Net) (898) (10,871) (100) (11,869) Miscellaneous 3,312 915 76 4,303 Total Golf Operating Revenues: 133,788$ 166,104$ 43,774$ 343,666$ Concession Operating Revenues: Food Sales 4,615$ 2,913$ 57$ 7,585$ Pop Sales 1,676 1,522 180 3,378 Alcohol Sales 7,742 6,593 N/A 14,335 Miscellaneous/Reservations/Other (139) 48 - (91) Total Concession Operating Revenues: 13,895$ 11,076$ 237$ 25,207$ Total Operating Revenues:147,682$ 177,180$ 44,011$ 368,873$ Golf Operating Expenses: Personnel (b) 113,869$ 113,869$ 25,304$ 253,043$ Shared Administrative Expenses (b) 42,005 42,005 9,334 93,344 Supplies 87,417 70,185 9,866 167,468 Contractual 7,015 10,577 10,194 27,786 Debt Service 189 189 42 421 Total Golf Operating Expenses: 250,495$ 236,826$ 54,741$ 542,062$ Operating Income (Loss) (102,813)$ (59,646)$ (10,730)$ (173,189)$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (31%, 50%, 19%, 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 FOUR MONTHS ENDED APRIL 30, 2021 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2020 2021 2020 2021 2020 2021 2020 2021 GREEN FEES $0 $40,282 $8,110 $44,907 $0 $5,067 8,110 $90,256 $82,146 1013% SEASON PASS SALES 16,162 20,500 108,409 175,784 0 7,453 124,571 203,737 79,166 64% CART RENTALS 0 18,371 3,529 21,942 0 243 3,529 40,556 37,027 1049% MERCHANDISE SALES 31 4,650 689 6,417 0 336 719 11,403 10,684 1485% DRIVING RANGE RECEIPTS 0 5,281 N/A N/A N/A N/A 0 5,281 5,281 0% LEAGUE ENTRY FEES 0 0 0 0 0 0 0 0 0 0% TOTAL $16,193 $89,084 $120,736 $249,050 $0 $13,099 $136,929 $351,233 $214,304 157% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2018 THRU 2021 (THROUGH APRIL) AVERAGE GOLF COURSE 2018 2019 2020 2018-20 2021 Elbel (Daily) 21 234 0 85 2,124 Elbel (Season) 9 162 0 57 915 ELBEL TOTAL 30 396 0 142 3,039 CHANGE FROM PREV YR.1220% -100% 0% Erskine (Daily) 662 0 534 399 3,002 Erskine (Season) 334 2 226 187 1,498 ERSKINE TOTAL 996 2 760 586 4,500 CHANGE FROM PREV YR.-100% 37900% 492% Studebaker (Daily) 10 0 0 3 586 Studebaker (Season) 1 0 0 0 556 STUDEBAKER TOTAL 11 0 0 4 1,142 CHANGE FROM PREV YR.-100% 0% 0% Total (Daily) 693 234 534 487 5,712 Total (Season) 344 164 226 245 2,969 TOTAL COURSES 1,037 398 760 732 8,681 CHANGE FROM PREV YR.-62% 91% 1042% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 DAILY FEE ROUNDS & SALES FOR THE FOUR MONTHS ENDED APRIL 30, 2021 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Players Card - Weekend - Before 12:00 5 0.24% 91 0.23% 3 0.10% 66$ 0.15% 8 0.16% 157$ 0.18% Preferred Players Card - Weekend - After 2:00 55 2.59% 486 1.21% 52 1.73% 468 1.04% 107 2.09% 954 1.12% Preferred Players Card - Weekend - 12:00 - 2:00 - 0.00% - 0.00% 11 0.37% 190 0.42% 11 0.21% 190 0.22% Preferred Player 18-Holes - Preferred Player - Weekday 317 14.92% 2,849 7.07% 310 10.33% 2,790 6.21% 627 12.23% 5,639 6.62% Preferred Player 9-Holes - Preferred Player - Weekday 32 1.51% 300 0.74% 49 1.63% 490 1.09% 81 1.58% 790 0.93% Preferred Player 9-Holes - Preferred Player - Weekend 14 0.66% 140 0.35% 8 0.27% 80 0.18% 22 0.43% 220 0.26% GolfNow Pay at Course 584 27.50%19,265 47.82%752 25.05%16,695 37.18%1,336 26.06%35,960 42.21% Fall - 18 Holes - Weekday 8 0.38% 120 0.30% - 0.00% - 0.00% 8 0.16% 120 0.14% Fall - 18 Holes - Weekend 22 1.04% 440 1.09% - 0.00% - 0.00% 22 0.43% 440 0.52% Spring - 18 Holes - Weekday - All Day 288 13.56% 4,303 10.68% 347 11.56% 5,157 11.48% 635 12.39% 9,460 11.10% Spring - 18 Holes - Weekend 205 9.65% 4,078 10.12% - 0.00% - 0.00% 205 4.00% 4,078 4.79% Spring - 18 Holes - Weekend - After 2:00 7 0.33% 105 0.26% 48 1.60% 725 1.61% 55 1.07% 830 0.97% Spring - 18 Holes - Weekend - After 3:00 9 0.42% 135 0.34% - 0.00% - 0.00% 9 0.18% 135 0.16% Spring - 18 Holes - Weekend - Before 2:00 77 3.63% 1,498 3.72% 372 12.39% 7,440 16.57% 449 8.76% 8,938 10.49% Spring - 18 Holes - Weekend - Before 3:00 106 4.99% 2,118 5.26% - 0.00% - 0.00% 106 2.07% 2,118 2.49% Spring - 9 Holes 383 18.03% 4,188 10.40% 890 29.65% 8,900 19.82% 1,273 24.83% 13,088 15.36% Spring - Junior - 0.00% - 0.00% 9 0.30% 107 0.24% 9 0.18% 107 0.13% Spring - Senior - Weekday - 0.00% - 0.00% 114 3.80% 1,238 2.76% 114 2.22% 1,238 1.45% Spring - Senior -Weekend - 0.00% - 0.00% 35 1.17% 525 1.17% 35 0.68% 525 0.62% Bounce Back 5 0.24% 55 0.14% - 0.00% - 0.00% 5 0.10% 55 0.06% Other 7 0.33% 112 0.28% 2 0.07% 36 0.08% 9 0.18% 148 0.17% TOTAL 2,124 100.00%$40,282 100.00%3,002 100.00%$44,907 100.00%5,126 100.00%$85,189 100.00% 5