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HomeMy WebLinkAbout08-2021 Golf FinMonthly Financial Statements - Golf August 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 EIGHT MONTHS ENDED AUGUST 31, 2021 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 308,290$ 246,132$ 51,279$ 605,701$ Season Ticket Sales (a) 63,760 86,509 67,815 218,085 Cart Rentals 145,596 124,253 19,495 289,343 Merchandise Sales 27,452 27,373 4,501 59,326 Driving Range 26,416 N/A N/A 26,416 Gift Certificates (Net) 5 - - 5 Miscellaneous 5,723 2,825 995 9,543 Total Golf Operating Revenues: 577,242$ 487,092$ 144,085$ 1,208,419$ Concession Operating Revenues: Food Sales 30,917$ 17,285$ 1,021$ 49,223$ Pop Sales 15,363 12,672 3,502 31,537 Alcohol Sales 65,119 44,157 N/A 109,276 Miscellaneous/Reservations/Other (1,486) 539 - (946) Total Concession Operating Revenues: 109,913$ 74,653$ 4,524$ 189,089$ Total Operating Revenues:687,155$ 561,745$ 148,609$ 1,397,508$ Golf Operating Expenses: Personnel (b) 269,720$ 269,720$ 59,938$ 599,378$ Shared Administrative Expenses (b) 66,462 66,462 14,769 147,694 Supplies 159,326 131,870 21,467 312,663 Contractual 53,384 27,631 18,687 99,702 Debt Service 33,213 33,213 7,381 73,806 Total Golf Operating Expenses: 582,105$ 528,896$ 122,242$ 1,233,243$ Operating Income (Loss) 105,050$ 32,849$ 26,367$ 164,265$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (29%, 40%, 31%, 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 EIGHT MONTHS ENDED AUGUST 31, 2021 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2020 2021 2020 2021 2020 2021 2020 2021 GREEN FEES $285,040 $306,997 $244,249 $246,587 $57,955 $50,828 587,243 $604,411 $17,168 3% SEASON PASS SALES 30,827 28,556 119,568 185,109 12,529 14,172 162,924 227,837 64,913 40% CART RENTALS 126,940 144,873 104,693 117,941 20,572 18,927 252,205 281,740 29,535 12% MERCHANDISE SALES 18,118 27,170 16,484 26,529 1,716 4,431 36,318 58,130 21,812 60% DRIVING RANGE RECEIPTS 23,316 26,612 N/A N/A N/A N/A 23,316 26,612 3,296 0% LEAGUE ENTRY FEES 0 0 0 0 87 0 87 0 (87)0% TOTAL $484,241 $534,208 $484,994 $576,166 $92,858 $88,357 $1,062,093 $1,198,731 $136,638 13% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2018 THRU 2021 (THROUGH AUGUST) AVERAGE GOLF COURSE 2018 2019 2020 2018-20 2021 Elbel (Daily) 10,847 11,439 13,749 12,012 14,706 Elbel (Season) 2,709 3,464 2,891 3,021 4,277 ELBEL TOTAL 13,556 14,903 16,640 15,033 18,983 CHANGE FROM PREV YR.10% 12% 14% Erskine (Daily) 12,180 10,418 12,599 11,732 13,550 Erskine (Season) 5,125 4,450 4,353 4,643 5,803 ERSKINE TOTAL 17,305 14,868 16,952 16,375 19,353 CHANGE FROM PREV YR.-14% 14% 14% Studebaker (Daily) 6,379 4,967 7,064 6,137 6,016 Studebaker (Season) 326 2,610 4,546 2,494 4,549 STUDEBAKER TOTAL 6,705 7,577 11,610 8,631 10,565 CHANGE FROM PREV YR.13% 0% -9% Total (Daily) 29,406 26,824 33,412 29,881 34,272 Total (Season) 8,160 10,524 11,790 10,158 14,629 TOTAL COURSES 37,566 37,348 45,202 40,039 48,901 CHANGE FROM PREV YR.-1% 21% 8% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE EIGHT MONTHS ENDED AUGUST 31, 2021 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Players Card - Weekend - Before 12:00 481 3.27% 10,477 3.41% 232 1.71% 5,102$ 2.07% 713 2.52% 15,579$ 2.81% Preferred Players Card - Weekend - After 2:00 305 2.07% 2,736 0.89% 258 1.90% 2,322 0.94% 563 1.99% 5,058 0.91% Preferred Players Card - Weekend - 12:00 - 2:00 - 0.00% - 0.00% 54 0.40% 1,055 0.43% 54 0.19% 1,055 0.19% Preferred Player 18-Holes - Preferred Player - Weekday 1,924 13.08% 17,298 5.63% 1,785 13.17% 16,195 6.57% 3,709 13.13% 33,493 6.05% Preferred Player 9-Holes - Preferred Player - Weekday 759 5.16% 7,565 2.46% 1,213 8.95% 12,120 4.92% 1,972 6.98% 19,685 3.56% Preferred Player 9-Holes - Preferred Player - Weekend 42 0.29% 420 0.14% 53 0.39% 530 0.21% 95 0.34% 950 0.17% Preferred Players Card - Memorial Day 22 0.15% 341 0.11% - 0.00% - 0.00% 22 0.08% 341 0.06% Preferred Players Card - Independence Day 14 0.10% 261 0.09% - 0.00% - 0.00% 14 0.05% 261 0.05% League - 9 Holes - 0.00% - 0.00% 149 1.10% 2,086 0.85% 149 0.53% 2,086 0.38% GolfNow Pay at Course 2,772 18.85%101,033 32.91%2,054 15.16%68,534 27.79%4,826 17.08%169,567 $0.31 18 Holes - Weekday - After 3 :00 365 2.48% 7,915 2.58% 64 0.47% 1,408 0.57% 429 1.52% 9,323 $0.02 18 Holes - Weekday - Before 3 :00 1,242 8.45% 29,789 9.70% 529 3.90% 14,256 5.78% 1,771 6.27% 44,045 $0.08 18 Holes - Weekend - After 3:00 171 1.16% 3,757 1.22% 114 0.84% 2,506 1.02% 285 1.01% 6,263 1.13% 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 92 0.68% 2,934 1.19% 92 0.33% 2,934 0.53% 18 Holes - Weekend - Before 3:00 1,588 10.80% 46,959 15.30% 863 6.37% 27,501 11.15% 2,451 8.67% 74,460 13.45% 9 Holes 2,579 17.54% 37,069 12.07% 3,313 24.45% 47,926 19.44% 5,892 20.85% 84,995 15.35% Fall - 18 Holes 30 0.20% 560 0.18% - 0.00% - 0.00% 30 0.11% 560 0.10% Junior - Weekday 20 0.14% 601 0.20% 99 0.73% 1,757 0.71% 119 0.42% 2,358 0.43% Junior - Weekend 13 0.09% 480 0.16% 95 0.70% 2,080 0.84% 108 0.38% 2,560 0.46% Senior - Weekday 892 6.07% 15,915 5.18% 574 4.24% 10,330 4.19% 1,466 5.19% 26,245 4.74% Senior -Weekend 68 0.46% 1,496 0.49% 57 0.42% 1,252 0.51% 125 0.44% 2,748 0.50% Spring - 18 Holes - Weekday 360 2.45% 5,338 1.74% 355 2.62% 5,277 2.14% 715 2.53% 10,615 1.92% Spring - 18 Holes - Weekend 205 1.39% 4,078 1.33% - 0.00% - 0.00% 205 0.73% 4,078 0.74% Spring - 18 Holes - Weekend - After 2:00 7 0.05% 105 0.03% 48 0.35% 725 0.29% 55 0.19% 830 0.15% Spring - 18 Holes - Weekend - Before 2:00 77 0.52% 1,498 0.49% 372 2.75% 7,440 3.02% 449 1.59% 8,938 1.61% Spring - 18 Holes - Weekend - After 3:00 9 0.06% 135 0.04% - 0.00% - 0.00% 9 0.03% 135 0.02% Spring - 18 Holes - Weekend - Before 3:00 106 0.72% 2,118 0.69% - 0.00% - 0.00% 106 0.38% 2,118 0.38% Spring - 9 Holes 476 3.24% 5,210 1.70% 942 6.95% 9,420 3.82% 1,418 5.02% 14,630 2.64% Spring - Junior - 0.00% - 0.00% 15 0.11% 171 0.07% 15 0.05% 171 0.03% Spring - Senior - Weekday - 0.00% - 0.00% 119 0.88% 1,293 0.52% 119 0.42% 1,293 0.23% Spring - Senior -Weekend - 0.00% - 0.00% 35 0.26% 525 0.21% 35 0.12% 525 0.09% Bounce Back 28 0.19% 304 0.10% - 0.00% - 0.00% 28 0.10% 304 0.05% Memorial Day - 18 Holes 44 0.30% 1,338 0.44% 49 0.36% 1,542 0.63% 93 0.33% 2,880 0.52% Memorial Day - 9 Holes 16 0.11% 280 0.09% 14 0.10% 252 0.10% 30 0.11% 532 0.10% Independence Day - 18 Holes 39 0.27% 1,110 0.36% - 0.00% - 0.00% 39 0.14% 1,110 0.20% Independence Day - 9 Holes 8 0.05% 140 0.05% - 0.00% - 0.00% 8 0.03% 140 0.03% Other 44 0.30% 672 0.22% 3 0.02% 48 0.02% 47 0.17% 720 0.13% TOTAL 14,706 100.00%$306,997 100.00%13,550 100.00%$246,587 100.00%28,256 100.00%$553,584 100.00% 5