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HomeMy WebLinkAbout06-2021 FinancialsMonthly Financial Statements - Golf June 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 SIX MONTHS ENDED JUNE 30, 2021 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 164,378$ 148,362$ 26,588$ 339,328$ Season Ticket Sales (a) 68,337 99,840 57,889 226,066 Cart Rentals 74,343 68,636 8,647 151,625 Merchandise Sales 16,208 16,992 2,237 35,437 Driving Range 15,517 N/A N/A 15,517 Gift Certificates (Net) (29) (10,976) (73) (11,077) Miscellaneous 2,607 5,416 737 8,761 Total Golf Operating Revenues: 341,361$ 328,271$ 96,025$ 765,657$ Concession Operating Revenues: Food Sales 16,764$ 9,474$ 507$ 26,746$ Pop Sales 7,725 6,304 1,484 15,513 Alcohol Sales 34,880 24,031 N/A 58,911 Miscellaneous/Reservations/Other (748) (29) - (777) Total Concession Operating Revenues: 58,622$ 39,780$ 1,991$ 100,393$ Total Operating Revenues:399,984$ 368,051$ 98,016$ 866,050$ Golf Operating Expenses: Personnel (b) 188,833$ 188,833$ 41,963$ 419,630$ Shared Administrative Expenses (b) 55,369 55,369 12,304 123,043 Supplies 124,592 101,147 19,069 244,808 Contractual 41,174 17,932 17,491 76,596 Debt Service 33,032 33,032 7,341 73,405 Total Golf Operating Expenses: 443,001$ 396,314$ 98,167$ 937,482$ Operating Income (Loss) (43,018)$ (28,263)$ (151)$ (71,432)$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (30%, 44%, 26%, 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 SIX MONTHS ENDED JUNE 30, 2021 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2020 2021 2020 2021 2020 2021 2020 2021 GREEN FEES $115,962 $163,377 $106,438 $147,140 $22,727 $25,732 245,127 $336,249 $91,122 37% SEASON PASS SALES 28,912 27,966 119,463 183,552 11,115 13,164 159,490 224,682 65,192 41% CART RENTALS 53,732 73,568 43,107 68,105 6,175 7,860 103,014 149,533 46,518 45% MERCHANDISE SALES 7,833 16,004 6,482 17,018 668 2,010 14,983 35,032 20,049 134% DRIVING RANGE RECEIPTS 9,850 15,765 N/A N/A N/A N/A 9,850 15,765 5,915 0% LEAGUE ENTRY FEES 0 0 0 0 0 0 0 0 0 0% TOTAL $216,289 $296,680 $275,489 $415,815 $40,685 $48,766 $532,464 $761,260 $228,797 43% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2018 THRU 2021 (THROUGH JUNE) AVERAGE GOLF COURSE 2018 2019 2020 2018-20 2021 Elbel (Daily) 5,605 5,582 5,603 5,597 7,842 Elbel (Season) 1,571 1,964 1,195 1,577 2,551 ELBEL TOTAL 7,176 7,546 6,798 7,173 10,393 CHANGE FROM PREV YR.5% -10% 53% Erskine (Daily) 7,005 5,036 5,448 5,830 8,265 Erskine (Season) 2,797 1,915 1,959 2,224 3,727 ERSKINE TOTAL 9,802 6,951 7,407 8,053 11,992 CHANGE FROM PREV YR.-29% 7% 62% Studebaker (Daily) 3,121 2,668 2,751 2,847 3,026 Studebaker (Season) 141 1,243 1,861 1,082 2,161 STUDEBAKER TOTAL 3,262 3,911 4,612 3,928 5,187 CHANGE FROM PREV YR.20% 0% 12% Total (Daily) 15,731 13,286 13,802 14,273 19,133 Total (Season) 4,509 5,122 5,015 4,882 8,439 TOTAL COURSES 20,240 18,408 18,817 19,155 27,572 CHANGE FROM PREV YR.-9% 2% 47% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE SIX MONTHS ENDED JUNE 30, 2021 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Players Card - Weekend - Before 12:00 266 3.39% 5,826 3.57% 121 1.46% 2,660$ 1.81% 387 2.40% 8,486$ 2.73% Preferred Players Card - Weekend - After 2:00 181 2.31% 1,620 0.99% 149 1.80% 1,341 0.91% 330 2.05% 2,961 0.95% Preferred Players Card - Weekend - 12:00 - 2:00 - 0.00% - 0.00% 26 0.31% 490 0.33% 26 0.16% 490 0.16% Preferred Player 18-Holes - Preferred Player - Weekday 1,083 13.81% 9,743 5.96% 1,000 12.10% 9,130 6.20% 2,083 12.93% 18,873 6.08% Preferred Player 9-Holes - Preferred Player - Weekday 368 4.69% 3,655 2.24% 610 7.38% 6,100 4.15% 978 6.07% 9,755 3.14% Preferred Player 9-Holes - Preferred Player - Weekend 31 0.40% 310 0.19% 32 0.39% 320 0.22% 63 0.39% 630 0.20% Preferred Players Card - Memorial Day 22 0.28% 341 0.21% - 0.00% - 0.00% 22 0.14% 341 0.11% League - 9 Holes - 0.00% - 0.00% 65 0.79% 910 0.62% 65 0.40% 910 0.29% GolfNow Pay at Course 1,593 20.31%58,582 35.86%1,438 17.40%43,371 29.48%3,031 18.82%101,953 $0.33 18 Holes - Weekday - After 3 :00 131 1.67% 2,887 1.77% 26 0.31% 572 0.39% 157 0.97% 3,459 $0.01 18 Holes - Weekday - Before 3 :00 507 6.47% 12,120 7.42% 226 2.73% 6,075 4.13% 733 4.55% 18,195 $0.06 18 Holes - Weekend - After 3:00 69 0.88% 1,543 0.94% 55 0.67% 1,210 0.82% 124 0.77% 2,753 0.89% 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 92 1.11% 2,934 1.99% 92 0.57% 2,934 0.94% 18 Holes - Weekend - Before 3:00 708 9.03% 22,187 13.58% 440 5.32% 13,989 9.51% 1,148 7.13% 36,176 11.65% 9 Holes 1,206 15.38% 17,649 10.80% 1,649 19.95% 24,026 16.33% 2,855 17.73% 41,675 13.42% Fall - 18 Holes 30 0.38% 560 0.34% - 0.00% - 0.00% 30 0.19% 560 0.18% Junior - Weekday 8 0.10% 225 0.14% 34 0.41% 605 0.41% 42 0.26% 830 0.27% Junior - Weekend 1 0.01% 37 0.02% 71 0.86% 1,552 1.05% 72 0.45% 1,589 0.51% Senior - Weekday 289 3.69% 5,184 3.17% 247 2.99% 4,437 3.02% 536 3.33% 9,621 3.10% Senior -Weekend 15 0.19% 330 0.20% 35 0.42% 768 0.52% 50 0.31% 1,098 0.35% Spring - 18 Holes - Weekday 360 4.59% 5,338 3.27% 355 4.30% 5,277 3.59% 715 4.44% 10,615 3.42% Spring - 18 Holes - Weekend 205 2.61% 4,078 2.50% - 0.00% - 0.00% 205 1.27% 4,078 1.31% Spring - 18 Holes - Weekend - After 2:00 7 0.09% 105 0.06% 48 0.58% 725 0.49% 55 0.34% 830 0.27% Spring - 18 Holes - Weekend - Before 2:00 77 0.98% 1,498 0.92% 372 4.50% 7,440 5.06% 449 2.79% 8,938 2.88% Spring - 18 Holes - Weekend - After 3:00 9 0.11% 135 0.08% - 0.00% - 0.00% 9 0.06% 135 0.04% Spring - 18 Holes - Weekend - Before 3:00 106 1.35% 2,118 1.30% - 0.00% - 0.00% 106 0.66% 2,118 0.68% Spring - 9 Holes 476 6.07% 5,210 3.19% 942 11.40% 9,420 6.40% 1,418 8.80% 14,630 4.71% Spring - Junior - 0.00% - 0.00% 14 0.17% 160 0.11% 14 0.09% 160 0.05% Spring - Senior - Weekday - 0.00% - 0.00% 119 1.44% 1,293 0.88% 119 0.74% 1,293 0.42% Spring - Senior -Weekend - 0.00% - 0.00% 35 0.42% 525 0.36% 35 0.22% 525 0.17% Bounce Back 12 0.15% 128 0.08% - 0.00% - 0.00% 12 0.07% 128 0.04% Memorial Day - 18 Holes 44 0.56% 1,338 0.82% 49 0.59% 1,542 1.05% 93 0.58% 2,880 0.93% Memorial Day - 9 Holes 16 0.20% 280 0.17% 14 0.17% 252 0.17% 30 0.19% 532 0.17% Other 22 0.28% 352 0.22% 1 0.01% 16 0.01% 23 0.14% 368 0.12% 0 TOTAL 7,842 100.00%$163,377 100.00%8,265 100.00%$147,140 100.00%16,107 100.00%$310,517 100.00% 5