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HomeMy WebLinkAbout07-2021 Golf FinMonthly Financial Statements - Golf July 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 SEVEN MONTHS ENDED JULY 31, 2021 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 234,588$ 192,107$ 36,909$ 463,604$ Season Ticket Sales (a) 66,277 88,332 62,494 217,103 Cart Rentals 107,526 97,658 13,253 218,437 Merchandise Sales 21,902 23,269 3,212 48,383 Driving Range 20,990 N/A N/A 20,990 Gift Certificates (Net) 5 - - 5 Miscellaneous 5,510 2,700 879 9,088 Total Golf Operating Revenues: 456,798$ 404,066$ 116,746$ 977,610$ Concession Operating Revenues: Food Sales 23,299$ 13,847$ 778$ 37,925$ Pop Sales 11,260 9,522 2,419 23,201 Alcohol Sales 49,423 33,364 N/A 82,787 Miscellaneous/Reservations/Other (1,092) (162) - (1,254) Total Concession Operating Revenues: 82,890$ 56,571$ 3,197$ 142,658$ Total Operating Revenues:539,688$ 460,637$ 119,943$ 1,120,269$ Golf Operating Expenses: Personnel (b) 228,380$ 228,380$ 50,751$ 507,512$ Shared Administrative Expenses (b) 60,270 60,270 13,393 133,932 Supplies 136,943 117,193 19,822 273,958 Contractual 48,125 22,164 17,994 88,284 Debt Service 33,070 33,070 7,349 73,489 Total Golf Operating Expenses: 506,789$ 461,077$ 109,310$ 1,077,176$ Operating Income (Loss) 32,900$ (440)$ 10,633$ 43,093$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (30%, 41%, 29%, 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 SEVEN MONTHS ENDED JULY 31, 2021 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2020 2021 2020 2021 2020 2021 2020 2021 GREEN FEES $202,211 $234,545 $174,077 $192,219 $37,856 $37,026 414,144 $463,790 $49,646 12% SEASON PASS SALES 30,652 28,798 118,568 173,796 12,428 14,509 161,648 217,103 55,455 34% CART RENTALS 92,102 107,526 73,726 97,658 12,982 13,253 178,810 218,437 39,627 22% MERCHANDISE SALES 13,960 21,902 11,063 23,269 1,182 3,212 26,205 48,383 22,178 85% DRIVING RANGE RECEIPTS 17,012 20,990 N/A N/A N/A N/A 17,012 20,990 3,978 0% LEAGUE ENTRY FEES 0 0 0 0 87 0 87 0 (87)0% TOTAL $355,938 $413,761 $377,434 $486,943 $64,535 $68,000 $797,906 $968,703 $170,797 21% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2018 THRU 2021 (THROUGH JULY) AVERAGE GOLF COURSE 2018 2019 2020 2018-20 2021 Elbel (Daily) 8,427 8,680 9,953 9,020 11,209 Elbel (Season) 2,153 2,346 1,783 2,094 3,486 ELBEL TOTAL 10,580 11,026 11,736 11,114 14,695 CHANGE FROM PREV YR.4% 6% 25% Erskine (Daily) 9,581 7,487 9,020 8,696 10,565 Erskine (Season) 3,969 3,156 2,881 3,335 4,646 ERSKINE TOTAL 13,550 10,643 11,901 12,031 15,211 CHANGE FROM PREV YR.-21% 12% 28% Studebaker (Daily) 4,838 3,736 4,675 4,416 4,393 Studebaker (Season) 219 1,939 3,320 1,826 3,287 STUDEBAKER TOTAL 5,057 5,675 7,995 6,242 7,680 CHANGE FROM PREV YR.12% 0% -4% Total (Daily) 22,846 19,903 23,648 22,132 26,167 Total (Season) 6,341 7,441 7,984 7,255 11,419 TOTAL COURSES 29,187 27,344 31,632 29,388 37,586 CHANGE FROM PREV YR.-6% 16% 19% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE SEVEN MONTHS ENDED JULY 31, 2021 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Players Card - Weekend - Before 12:00 391 3.49% 8,549 3.64% 177 1.68% 3,892$ 2.02% 568 2.61% 12,441$ 2.92% Preferred Players Card - Weekend - After 2:00 235 2.10% 2,106 0.90% 196 1.86% 1,764 0.92% 431 1.98% 3,870 0.91% Preferred Players Card - Weekend - 12:00 - 2:00 - 0.00% - 0.00% 33 0.31% 630 0.33% 33 0.15% 630 0.15% Preferred Player 18-Holes - Preferred Player - Weekday 1,503 13.41% 13,514 5.76% 1,333 12.62% 12,127 6.31% 2,836 13.02% 25,641 6.01% Preferred Player 9-Holes - Preferred Player - Weekday 567 5.06% 5,645 2.41% 860 8.14% 8,600 4.47% 1,427 6.55% 14,245 3.34% Preferred Player 9-Holes - Preferred Player - Weekend 36 0.32% 360 0.15% 42 0.40% 420 0.22% 78 0.36% 780 0.18% Preferred Players Card - Memorial Day 22 0.20% 341 0.15% - 0.00% - 0.00% 22 0.10% 341 0.08% Preferred Players Card - Independence Day 14 0.12% 261 0.11% - 0.00% - 0.00% 14 0.06% 261 0.06% League - 9 Holes - 0.00% - 0.00% 101 0.96% 1,414 0.74% 101 0.46% 1,414 0.33% GolfNow Pay at Course 2,207 19.69%81,067 34.56%1,739 16.46%55,917 29.09%3,946 18.12%136,984 $0.32 18 Holes - Weekday - After 3 :00 267 2.38% 5,767 2.46% 47 0.44% 1,034 0.54% 314 1.44% 6,801 $0.02 18 Holes - Weekday - Before 3 :00 863 7.70% 21,271 9.07% 387 3.66% 10,422 5.42% 1,250 5.74% 31,693 $0.07 18 Holes - Weekend - After 3:00 122 1.09% 2,717 1.16% 80 0.76% 1,760 0.92% 202 0.93% 4,477 1.05% 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 92 0.87% 2,934 1.53% 92 0.42% 2,934 0.69% 18 Holes - Weekend - Before 3:00 998 8.90% 30,995 13.21% 636 6.02% 20,237 10.53% 1,634 7.50% 51,232 12.00% 9 Holes 1,935 17.26% 27,823 11.86% 2,346 22.21% 34,136 17.76% 4,281 19.66% 61,959 14.52% Fall - 18 Holes 30 0.27% 560 0.24% - 0.00% - 0.00% 30 0.14% 560 0.13% Junior - Weekday 15 0.13% 436 0.19% 72 0.68% 1,289 0.67% 87 0.40% 1,725 0.40% Junior - Weekend 6 0.05% 222 0.09% 76 0.72% 1,662 0.86% 82 0.38% 1,884 0.44% Senior - Weekday 563 5.02% 10,038 4.28% 356 3.37% 6,399 3.33% 919 4.22% 16,437 3.85% Senior -Weekend 38 0.34% 836 0.36% 41 0.39% 900 0.47% 79 0.36% 1,736 0.41% Spring - 18 Holes - Weekday 360 3.21% 5,338 2.28% 355 3.36% 5,277 2.75% 715 3.28% 10,615 2.49% Spring - 18 Holes - Weekend 205 1.83% 4,078 1.74% - 0.00% - 0.00% 205 0.94% 4,078 0.96% Spring - 18 Holes - Weekend - After 2:00 7 0.06% 105 0.04% 48 0.45% 725 0.38% 55 0.25% 830 0.19% Spring - 18 Holes - Weekend - Before 2:00 77 0.69% 1,498 0.64% 372 3.52% 7,440 3.87% 449 2.06% 8,938 2.09% Spring - 18 Holes - Weekend - After 3:00 9 0.08% 135 0.06% - 0.00% - 0.00% 9 0.04% 135 0.03% Spring - 18 Holes - Weekend - Before 3:00 106 0.95% 2,118 0.90% - 0.00% - 0.00% 106 0.49% 2,118 0.50% Spring - 9 Holes 476 4.25% 5,210 2.22% 942 8.92% 9,420 4.90% 1,418 6.51% 14,630 3.43% Spring - Junior - 0.00% - 0.00% 14 0.13% 160 0.08% 14 0.06% 160 0.04% Spring - Senior - Weekday - 0.00% - 0.00% 119 1.13% 1,293 0.67% 119 0.55% 1,293 0.30% Spring - Senior -Weekend - 0.00% - 0.00% 35 0.33% 525 0.27% 35 0.16% 525 0.12% Bounce Back 15 0.13% 161 0.07% - 0.00% - 0.00% 15 0.07% 161 0.04% Memorial Day - 18 Holes 44 0.39% 1,338 0.57% 49 0.46% 1,542 0.80% 93 0.43% 2,880 0.67% Memorial Day - 9 Holes 16 0.14% 280 0.12% 14 0.13% 252 0.13% 30 0.14% 532 0.12% Independence Day - 18 Holes 39 0.35% 1,110 0.47% - 0.00% - 0.00% 39 0.18% 1,110 0.26% Independence Day - 9 Holes 8 0.07% 140 0.06% - 0.00% - 0.00% 8 0.04% 140 0.03% Other 35 0.31% 528 0.23% 3 0.03% 48 0.02% 38 0.17% 576 0.13% TOTAL 11,209 100.00%$234,545 100.00%10,565 100.00%$192,219 100.00%21,774 100.00%$426,764 100.00% 5