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HomeMy WebLinkAbout05-2021 Golf FinMonthly Financial Statements - Golf May 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 FIVE MONTHS ENDED MAY 31, 2021 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 93,501$ 95,082$ 13,003$ 201,586$ Season Ticket Sales (a) 65,144 99,306 55,302 219,752 Cart Rentals 43,052 44,009 2,544 89,605 Merchandise Sales 9,649 11,797 752 22,198 Driving Range 9,872 N/A N/A 9,872 Gift Certificates (Net) (686) (11,851) (177) (12,714) Miscellaneous 3,530 978 100 4,608 Total Golf Operating Revenues: 224,064$ 239,320$ 71,523$ 534,906$ Concession Operating Revenues: Food Sales 10,018$ 5,979$ 179$ 16,176$ Pop Sales 3,934 3,658 575 8,167 Alcohol Sales 19,970 15,445 N/A 35,415 Miscellaneous/Reservations/Other (391) (63) - (454) Total Concession Operating Revenues: 33,531$ 25,019$ 753$ 59,304$ Total Operating Revenues:257,595$ 264,339$ 72,276$ 594,210$ Golf Operating Expenses: Personnel (b) 149,895$ 149,895$ 33,310$ 333,101$ Shared Administrative Expenses (b) 47,178 47,178 10,484 104,841 Supplies 102,400 77,046 11,655 191,101 Contractual 12,058 12,444 10,526 35,028 Debt Service 32,995 32,995 7,332 73,321 Total Golf Operating Expenses: 344,526$ 319,558$ 73,307$ 737,392$ Operating Income (Loss) (86,932)$ (55,220)$ (1,031)$ (143,182)$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (31%, 45%, 24%, 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 FIVE MONTHS ENDED MAY 31, 2021 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2020 2021 2020 2021 2020 2021 2020 2021 GREEN FEES $34,319 $93,910 $39,816 $95,133 $6,900 $16,171 81,035 $205,214 $124,180 153% SEASON PASS SALES 22,912 26,314 116,397 182,195 7,132 10,574 146,441 219,083 72,642 50% CART RENTALS 16,134 43,052 14,585 43,979 376 2,545 31,095 89,576 58,480 188% MERCHANDISE SALES 1,463 9,472 2,267 11,880 182 753 3,913 22,105 18,192 465% DRIVING RANGE RECEIPTS 3,764 9,872 N/A N/A N/A N/A 3,764 9,872 6,108 0% LEAGUE ENTRY FEES 0 0 0 0 0 0 0 0 0 0% TOTAL $78,592 $182,621 $173,065 $333,187 $14,590 $30,043 $266,248 $545,850 $279,602 105% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2018 THRU 2021 (THROUGH MAY) AVERAGE GOLF COURSE 2018 2019 2020 2018-20 2021 Elbel (Daily) 3,017 2,840 1,633 2,497 4,694 Elbel (Season) 888 1,078 495 820 1,701 ELBEL TOTAL 3,905 3,918 2,128 3,317 6,395 CHANGE FROM PREV YR.0% -46% 201% Erskine (Daily) 4,376 2,560 2,008 2,981 5,667 Erskine (Season) 1,713 1,127 860 1,233 2,593 ERSKINE TOTAL 6,089 3,687 2,868 4,215 8,260 CHANGE FROM PREV YR.-39% -22% 188% Studebaker (Daily) 1,608 1,558 819 1,328 1,893 Studebaker (Season) 74 667 939 560 1,444 STUDEBAKER TOTAL 1,682 2,225 1,758 1,888 3,337 CHANGE FROM PREV YR.32% 0% 90% Total (Daily) 9,001 6,958 4,460 6,806 12,254 Total (Season) 2,675 2,872 2,294 2,614 5,738 TOTAL COURSES 11,676 9,830 6,754 9,420 17,992 CHANGE FROM PREV YR.-16% -31% 166% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE FIVE MONTHS ENDED MAY 31, 2021 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Players Card - Weekend - Before 12:00 130 2.77% 2,834 3.02% 53 0.94% 1,164$ 1.22% 183 1.77% 3,998$ 2.11% Preferred Players Card - Weekend - After 2:00 115 2.45% 1,026 1.09% 97 1.71% 873 0.92% 212 2.05% 1,899 1.00% Preferred Players Card - Weekend - 12:00 - 2:00 - 0.00% - 0.00% 22 0.39% 410 0.43% 22 0.21% 410 0.22% Preferred Player 18-Holes - Preferred Player - Weekday 674 14.36% 6,062 6.45% 633 11.17% 5,697 5.99% 1,307 12.61% 11,759 6.22% Preferred Player 9-Holes - Preferred Player - Weekday 183 3.90% 1,810 1.93% 363 6.41% 3,630 3.82% 546 5.27% 5,440 2.88% Preferred Player 9-Holes - Preferred Player - Weekend 21 0.45% 210 0.22% 18 0.32% 180 0.19% 39 0.38% 390 0.21% League - 9 Holes - 0.00% - 0.00% 26 0.46% 364 0.38% 26 0.25% 364 $0.00 GolfNow Pay at Course 1,014 21.60%35,712 38.03%1,106 19.52%29,347 30.85%2,120 20.46%65,059 34.41% 18 Holes - Weekday - After 3 :00 61 1.30% 1,347 1.43% 17 0.30% 374 0.39% 78 0.75% 1,721 0.91% 18 Holes - Weekday - Before 3 :00 253 5.39% 6,020 6.41% 111 1.96% 2,970 3.12% 364 3.51% 8,990 4.76% 18 Holes - Weekend - After 3:00 31 0.66% 709 0.75% 26 0.46% 572 0.60% 57 0.55% 1,281 0.68% 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 92 1.62% 2,934 3.08% 92 0.89% 2,934 1.55% 18 Holes - Weekend - Before 3:00 301 6.41% 9,363 9.97% 170 3.00% 5,387 5.66% 471 4.55% 14,750 7.80% 9 Holes 510 10.86% 7,459 7.94% 829 14.63% 12,083 12.70% 1,339 12.92% 19,542 10.34% Fall - 18 Holes - Weekday 8 0.17% 120 0.13% - 0.00% - 0.00% 8 0.08% 120 0.06% Fall - 18 Holes - Weekend 22 0.47% 440 0.47% - 0.00% - 0.00% 22 0.21% 440 0.23% Junior - Weekday 1 0.02% 33 0.04% 19 0.34% 335 0.35% 20 0.19% 368 0.19% Junior - Weekend - 0.00% - 0.00% 66 1.16% 1,464 1.54% 66 0.64% 1,464 0.77% Senior - Weekday 97 2.07% 1,746 1.86% 106 1.87% 1,899 2.00% 203 1.96% 3,645 1.93% Senior -Weekend 10 0.21% 220 0.23% 27 0.48% 594 0.62% 37 0.36% 814 0.43% Spring - 18 Holes - Weekday - All Day 360 7.67% 5,338 5.68% 355 6.26% 5,277 5.55% 715 6.90% 10,615 5.62% Spring - 18 Holes - Weekend 205 4.37% 4,078 4.34% - 0.00% - 0.00% 205 1.98% 4,078 2.16% Spring - 18 Holes - Weekend - After 2:00 7 0.15% 105 0.11% 48 0.85% 725 0.76% 55 0.53% 830 0.44% Spring - 18 Holes - Weekend - Before 2:00 77 1.64% 1,498 1.60% 372 6.56% 7,440 7.82% 449 4.33% 8,938 4.73% Spring - 18 Holes - Weekend - After 3:00 9 0.19% 135 0.14% - 0.00% - 0.00% 9 0.09% 135 0.07% Spring - 18 Holes - Weekend - Before 3:00 106 2.26% 2,118 2.26% - 0.00% - 0.00% 106 1.02% 2,118 1.12% Spring - 9 Holes 476 10.14% 5,210 5.55% 942 16.62% 9,420 9.90% 1,418 13.69% 14,630 7.74% Spring - Junior - 0.00% - 0.00% 14 0.25% 160 0.17% 14 0.14% 160 0.08% Spring - Senior - Weekday - 0.00% - 0.00% 119 2.10% 1,293 1.36% 119 1.15% 1,293 0.68% Spring - Senior -Weekend - 0.00% - 0.00% 35 0.62% 525 0.55% 35 0.34% 525 0.28% Bounce Back 10 0.21% 110 0.12% - 0.00% - 0.00% 10 0.10% 110 0.06% Other 13 0.28% 208 0.22% 1 0.02% 16 0.02% 14 0.14% 224 0.12%0 TOTAL 4,694 100.00%$93,910 100.00%5,667 100.00%$95,133 100.00%10,361 100.00%$189,043 100.00% 5