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HomeMy WebLinkAbout09-2021 Golf FinMonthly Financial Statements - Golf September 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 NINE MONTHS ENDED SEPTEMBER 30, 2021 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 374,673$ 293,560$ 57,579$ 725,812$ Season Ticket Sales (a) 65,161 86,088 66,954 218,203 Cart Rentals 172,299 146,831 22,156 341,285 Merchandise Sales 31,659 31,739 5,073 68,471 Driving Range 31,178 N/A N/A 31,178 Gift Certificates (Net) 5 - - 5 Miscellaneous 5,820 2,922 1,051 9,792 Total Golf Operating Revenues: 680,795$ 561,139$ 152,813$ 1,394,747$ Concession Operating Revenues: Food Sales 38,219$ 21,265$ 1,137$ 60,621$ Pop Sales 18,600 15,033 3,856 37,488 Alcohol Sales 78,543 53,827 N/A 132,370 Miscellaneous/Reservations/Other (1,712) 830 - (883) Total Concession Operating Revenues: 133,649$ 90,955$ 4,993$ 229,597$ Total Operating Revenues:814,444$ 652,094$ 157,806$ 1,624,344$ Golf Operating Expenses: Personnel (b) 309,288$ 309,288$ 68,731$ 687,307$ Shared Administrative Expenses (b) 73,426 73,426 16,317 163,169 Supplies 171,981 151,584 26,136 349,701 Contractual 60,053 33,714 18,982 112,749 Debt Service 33,213 33,213 7,381 73,806 Total Golf Operating Expenses: 647,961$ 601,225$ 137,546$ 1,386,732$ Operating Income (Loss) 166,483$ 50,869$ 20,260$ 237,612$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (30%, 39%, 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 NINE MONTHS ENDED SEPTEMBER 30, 2021 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2020 2021 2020 2021 2020 2021 2020 2021 GREEN FEES $342,097 $374,300 298,757.62$ $293,602 71,157.00$ $57,457 712,012 $725,359 $13,347 2% SEASON PASS SALES 30,827 28,615 119,567.70$ 185,168 12,529.00$ 14,172 162,924 227,955 65,031 40% CART RENTALS 156,194 171,707 131,318.67$ 141,227 25,806.40$ 21,823 313,319 334,757 21,438 7% MERCHANDISE SALES 23,912 31,417 20,761.64$ 30,694 2,163.08$ 4,900 46,836 67,011 20,175 43% DRIVING RANGE RECEIPTS 28,428 31,472 N/A N/A N/A N/A 28,428 31,472 3,044 0% LEAGUE ENTRY FEES 0 0 -$ 0 -$ 0 0 0 0 0% TOTAL $581,458 $637,510 $570,406 $650,691 $111,655 $98,352 $1,263,519 $1,386,554 $123,035 10% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2018 THRU 2021 (THROUGH SEPTEMBER) AVERAGE GOLF COURSE 2018 2019 2020 2018-20 2021 Elbel (Daily) 12,965 13,335 16,685 14,328 17,815 Elbel (Season) 3,193 4,129 3,505 3,609 5,231 ELBEL TOTAL 16,158 17,464 20,190 17,937 23,046 CHANGE FROM PREV YR.8% 16% 14% Erskine (Daily) 14,122 12,193 16,941 14,419 15,975 Erskine (Season) 6,033 5,463 3,862 5,119 6,911 ERSKINE TOTAL 20,155 17,656 20,803 19,538 22,886 CHANGE FROM PREV YR.-12% 18% 10% Studebaker (Daily) 7,508 5,724 8,702 7,311 6,830 Studebaker (Season) 405 3,075 5,446 2,975 5,375 STUDEBAKER TOTAL 7,913 8,799 14,148 10,287 12,205 CHANGE FROM PREV YR.11% 0% -14% Total (Daily) 34,595 31,252 42,328 36,058 40,620 Total (Season) 9,631 12,667 12,813 11,704 17,517 TOTAL COURSES 44,226 43,919 55,141 47,762 58,137 CHANGE FROM PREV YR.-1% 26% 5% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Players Card - Weekend - Before 12:00 598 3.36% 13,051 3.49% 315 1.97% 6,928$ 2.36% 913 2.70% 19,979$ 2.99% Preferred Players Card - Weekend - After 2:00 358 2.01% 3,213 0.86% 316 1.98% 2,840 0.97% 674 1.99% 6,053 0.91% Preferred Players Card - Weekend - 12:00 - 2:00 - 0.00% - 0.00% 62 0.39% 1,215 0.41% 62 0.18% 1,215 0.18% Preferred Player 18-Holes - Preferred Player - Weekday 2,285 12.83% 20,550 5.49% 2,118 13.26% 19,192 6.54% 4,403 13.03% 39,742 5.95% Preferred Player 9-Holes - Preferred Player - Weekday 926 5.20% 9,231 2.47% 1,394 8.73% 13,930 4.74% 2,320 6.87% 23,161 3.47% Preferred Player 9-Holes - Preferred Player - Weekend 45 0.25% 450 0.12% 63 0.39% 630 0.21% 108 0.32% 1,080 0.16% Preferred Players Card - Labor Day 14 0.08% 269 0.07% 1 0.01% 10 0.00% 15 0.04% 279 0.04% Preferred Players Card - Memorial Day 22 0.12% 341 0.09% - 0.00% - 0.00% 22 0.07% 341 0.05% Preferred Players Card - Independence Day 14 0.08% 261 0.07% - 0.00% - 0.00% 14 0.04% 261 0.04% League - 9 Holes - 0.00% - 0.00% 176 1.10% 2,464 0.84% 176 0.52% 2,464 0.37% GolfNow Pay at Course 3,741 21.00%131,604 35.16%2,417 15.13%81,701 27.83%6,158 18.22%213,305 $0.32 18 Holes - Weekday - After 3 :00 401 2.25% 8,551 2.28% 73 0.46% 1,570 0.53% 474 1.40% 10,121 $0.02 18 Holes - Weekday - Before 3 :00 1,397 7.84% 33,249 8.88% 675 4.23% 17,178 5.85% 2,072 6.13% 50,427 $0.08 18 Holes - Weekend - After 3:00 194 1.09% 4,143 1.11% 124 0.78% 2,726 0.93% 318 0.94% 6,869 1.03% 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 92 0.58% 2,934 1.00% 92 0.27% 2,934 0.44% 18 Holes - Weekend - Before 3:00 1,909 10.72% 56,547 15.11% 1,095 6.85% 34,958 11.91% 3,004 8.89% 91,505 13.70% 9 Holes 3,070 17.23% 44,287 11.83% 3,873 24.24% 56,356 19.19% 6,943 20.55% 100,643 15.07% Fall - 18 Holes 30 0.17% 560 0.15% - 0.00% - 0.00% 30 0.09% 560 0.08% Junior - Weekday 21 0.12% 634 0.17% 234 1.46% 3,867 1.32% 255 0.75% 4,501 0.67% Junior - Weekend 13 0.07% 480 0.13% 103 0.64% 2,256 0.77% 116 0.34% 2,736 0.41% Senior - Weekday 1,194 6.70% 21,212 5.67% 731 4.58% 13,156 4.48% 1,925 5.70% 34,368 5.15% Senior -Weekend 81 0.45% 1,782 0.48% 61 0.38% 1,340 0.46% 142 0.42% 3,122 0.47% Spring - 18 Holes - Weekday 360 2.02% 5,338 1.43% 355 2.22% 5,277 1.80% 715 2.12% 10,615 1.59% Spring - 18 Holes - Weekend 205 1.15% 4,078 1.09% - 0.00% - 0.00% 205 0.61% 4,078 0.61% Spring - 18 Holes - Weekend - After 2:00 7 0.04% 105 0.03% 48 0.30% 725 0.25% 55 0.16% 830 0.12% Spring - 18 Holes - Weekend - Before 2:00 77 0.43% 1,498 0.40% 372 2.33% 7,440 2.53% 449 1.33% 8,938 1.34% Spring - 18 Holes - Weekend - After 3:00 9 0.05% 135 0.04% - 0.00% - 0.00% 9 0.03% 135 0.02% Spring - 18 Holes - Weekend - Before 3:00 106 0.60% 2,118 0.57% - 0.00% - 0.00% 106 0.31% 2,118 0.32% Spring - 9 Holes 476 2.67% 5,210 1.39% 942 5.90% 9,420 3.21% 1,418 4.20% 14,630 2.19% Spring - Junior - 0.00% - 0.00% 15 0.09% 171 0.06% 15 0.04% 171 0.03% Spring - Senior - Weekday - 0.00% - 0.00% 119 0.74% 1,293 0.44% 119 0.35% 1,293 0.19% Spring - Senior -Weekend - 0.00% - 0.00% 35 0.22% 525 0.18% 35 0.10% 525 0.08% 28 For $28 - 18 Holes - 0.00% - 0.00% 58 0.36% 696 0.24% 58 0.17% 696 0.10% Bounce Back 54 0.30% 610 0.16% - 0.00% - 0.00% 54 0.16% 610 0.09% Labor Day - 18 Holes 31 0.17% 828 0.22% 16 0.10% 502 0.17% 47 0.14% 1,330 0.20% Labor Day - 9 Holes 13 0.07% 234 0.06% 22 0.14% 396 0.13% 35 0.10% 630 0.09% Memorial Day - 18 Holes 44 0.25% 1,338 0.36% 49 0.31% 1,542 0.53% 93 0.28% 2,880 0.43% Memorial Day - 9 Holes 16 0.09% 280 0.07% 14 0.09% 252 0.09% 30 0.09% 532 0.08% Independence Day - 18 Holes 39 0.22% 1,110 0.30% - 0.00% - 0.00% 39 0.12% 1,110 0.17% Independence Day - 9 Holes 8 0.04% 140 0.04% - 0.00% - 0.00% 8 0.02% 140 0.02% Other 57 0.32% 864 0.23% 7 0.04% 112 0.04% 64 0.19% 976 0.15% TOTAL 17,815 100.00%$374,300 100.00%15,975 100.00%$293,602 100.00%33,790 100.00%$667,902 100.00% 5