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HomeMy WebLinkAbout11-2021 Golf FinMonthly Financial Statements - Golf November 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 ELEVEN MONTHS ENDED NOVEMBER 30, 2021 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 402,529$ 318,754$ 63,417$ 784,700$ Season Ticket Sales (a) 65,577 85,915 66,711 218,203 Cart Rentals 191,340 166,691 24,384 382,416 Merchandise Sales 33,959 34,939 5,583 74,482 Driving Range 33,650 N/A N/A 33,650 Gift Certificates (Net) 5 - - 5 Miscellaneous 5,906 2,979 1,083 9,968 Total Golf Operating Revenues: 732,966$ 609,279$ 161,178$ 1,503,423$ Concession Operating Revenues: Food Sales 41,908$ 23,892$ 1,227$ 67,027$ Pop Sales 20,089 16,545 4,079 40,712 Alcohol Sales 84,972 63,120 N/A 148,092 Miscellaneous/Reservations/Other (1,870) 3,241 - 1,371 Total Concession Operating Revenues: 145,099$ 106,798$ 5,306$ 257,203$ Total Operating Revenues:878,065$ 716,077$ 166,484$ 1,760,626$ Golf Operating Expenses: Personnel (b) 390,961$ 390,961$ 86,880$ 868,802$ Shared Administrative Expenses (b) 86,781 86,781 19,285 192,846 Supplies 191,385 167,885 26,935 386,204 Contractual 65,223 38,556 19,609 123,388 Debt Service 33,213 33,213 7,381 73,806 Total Golf Operating Expenses: 767,561$ 717,395$ 160,089$ 1,645,045$ Operating Income (Loss) 110,503$ (1,318)$ 6,395$ 115,581$ (a) Season ticket sales are allocated to Elbel, Erskine, and Studebaker based on percentage of season pass play. (31%, 39%, 30%, 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 ELEVEN MONTHS ENDED NOVEMBER 30, 2021 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2020 2021 2020 2021 2020 2021 2020 2021 GREEN FEES $380,694 $399,418 $337,056 $318,366 $77,394 $64,264 795,144 $782,048 ($13,096) -2% SEASON PASS SALES 31,464 28,615 $119,818 185,168 12,529 14,172 163,810 227,955 64,145 39% CART RENTALS 173,554 189,108 $157,733 156,240 26,965 24,385 358,253 369,733 11,480 3% MERCHANDISE SALES 26,274 33,568 $24,427 32,974 2,371 5,584 53,072 72,127 19,054 36% DRIVING RANGE RECEIPTS 30,932 33,650 N/A N/A N/A N/A 30,932 33,650 2,718 0% LEAGUE ENTRY FEES 0 0 0 0 0 0 0 0 0 0% TOTAL $642,918 $684,358 $639,034 $692,749 $119,259 $108,406 $1,401,212 $1,485,512 $84,301 6% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2018 THRU 2021 (THROUGH NOVEMBER) AVERAGE GOLF COURSE 2018 2019 2020 2018-20 2021 Elbel (Daily) 13,495 14,416 18,969 15,627 19,319 Elbel (Season) 3,530 4,600 3,896 4,009 5,839 ELBEL TOTAL 17,025 19,016 22,865 19,635 25,158 CHANGE FROM PREV YR.12% 20% 10% Erskine (Daily) 14,898 13,415 19,991 16,101 17,426 Erskine (Season) 6,554 6,505 5,199 6,086 7,650 ERSKINE TOTAL 21,452 19,920 25,190 22,187 25,076 CHANGE FROM PREV YR.-7% 26% 0% Studebaker (Daily) 7,965 6,067 9,413 7,815 7,642 Studebaker (Season) 488 3,383 5,954 3,275 5,940 STUDEBAKER TOTAL 8,453 9,450 15,367 11,090 13,582 CHANGE FROM PREV YR.12% 0% -12% Total (Daily) 36,358 33,898 48,373 39,543 44,387 Total (Season) 10,572 14,488 15,049 13,370 19,429 TOTAL COURSES 46,930 48,386 63,422 52,913 63,816 CHANGE FROM PREV YR.3% 31% 1% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE ELEVEN MONTHS ENDED NOVEMBER 30, 2021 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Players Card - Weekend - Before 12:00 611 3.16% 13,337 3.34% 358 2.05% 7,824$ 2.46% 969 2.64% 21,161$ 2.95% Preferred Players Card - Weekend - After 2:00 388 2.01% 3,483 0.87% 361 2.07% 3,245 1.02% 749 2.04% 6,728 0.94% Preferred Players Card - Weekend - 12:00 - 2:00 - 0.00% - 0.00% 65 0.37% 1,275 0.40% 65 0.18% 1,275 0.18% Preferred Player 18-Holes - Preferred Player - Weekday 2,476 12.82% 22,269 5.58% 2,343 13.45% 21,217 6.66% 4,819 13.11% 43,486 6.06% Preferred Player 9-Holes - Preferred Player - Weekday 946 4.90% 9,431 2.36% 1,461 8.38% 14,600 4.59% 2,407 6.55% 24,031 3.35% Preferred Player 9-Holes - Preferred Player - Weekend 48 0.25% 475 0.12% 68 0.39% 680 0.21% 116 0.32% 1,155 0.16% Preferred Players Card - Labor Day 14 0.07% 269 0.07% 1 0.01% 10 0.00% 15 0.04% 279 0.04% Preferred Players Card - Memorial Day 22 0.11% 341 0.09% - 0.00% - 0.00% 22 0.06% 341 0.05% Preferred Players Card - Independence Day 14 0.07% 261 0.07% - 0.00% - 0.00% 14 0.04% 261 0.04% League - 9 Holes - 0.00% - 0.00% 181 1.04% 2,534 0.80% 181 0.49% 2,534 0.35% GolfNow Pay at Course 3,907 20.22%136,236 34.11%2,629 15.09%88,649 27.85%6,536 17.79%224,885 $0.31 18 Holes - Weekday - After 3 :00 401 2.08% 8,551 2.14% 74 0.42% 1,592 0.50% 475 1.29% 10,143 $0.01 18 Holes - Weekday - Before 3 :00 1,398 7.24% 33,276 8.33% 702 4.03% 17,907 5.62% 2,100 5.72% 51,183 $0.07 18 Holes - Weekend - After 3:00 194 1.00% 4,143 1.04% 130 0.75% 2,770 0.87% 324 0.88% 6,913 0.96% 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 92 0.53% 2,934 0.92% 92 0.25% 2,934 0.41% 18 Holes - Weekend - Before 3:00 1,916 9.92% 56,771 14.21% 1,183 6.79% 37,668 11.83% 3,099 8.43% 94,439 13.16% 9 Holes 3,336 17.27% 48,303 12.09% 4,054 23.26% 58,994 18.53% 7,390 20.11% 107,297 14.95% Fall - 18 Holes 832 4.31% 14,199 3.55% 252 1.45% 3,905 1.23% 1,084 2.95% 18,104 2.52% Fall - 9 Holes - 0.00% - 0.00% 159 0.91% 1,590 0.50% 159 0.43% 1,590 0.22% Junior - Weekday 21 0.11% 634 0.16% 246 1.41% 4,083 1.28% 267 0.73% 4,717 0.66% Junior - Weekend 13 0.07% 480 0.12% 106 0.61% 2,310 0.73% 119 0.32% 2,790 0.39% Senior - Weekday 1,194 6.18% 21,212 5.31% 784 4.50% 14,110 4.43% 1,978 5.38% 35,322 4.92% Senior -Weekend 81 0.42% 1,782 0.45% 62 0.36% 1,362 0.43% 143 0.39% 3,144 0.44% Spring - 18 Holes - Weekday 360 1.86% 5,338 1.34% 355 2.04% 5,277 1.66% 715 1.95% 10,615 1.48% Spring - 18 Holes - Weekend 205 1.06% 4,078 1.02% - 0.00% - 0.00% 205 0.56% 4,078 0.57% Spring - 18 Holes - Weekend - After 2:00 7 0.04% 105 0.03% 48 0.28% 725 0.23% 55 0.15% 830 0.12% Spring - 18 Holes - Weekend - Before 2:00 77 0.40% 1,498 0.38% 372 2.13% 7,440 2.34% 449 1.22% 8,938 1.25% Spring - 18 Holes - Weekend - After 3:00 9 135.00% 135 0.03% - 0.00% - 0.00% 9 0.02% 135 0.02% Spring - 18 Holes - Weekend - Before 3:00 106 0.55% 2,118 0.53% - 0.00% - 0.00% 106 0.29% 2,118 0.30% Spring - 9 Holes 476 2.46% 5,210 1.30% 942 5.41% 9,420 2.96% 1,418 3.86% 14,630 2.04% Spring - Junior - 0.00% - 0.00% 15 0.09% 171 0.05% 15 0.04% 171 0.02% Spring - Senior - Weekday - 0.00% - 0.00% 119 0.68% 1,293 0.41% 119 0.32% 1,293 0.18% Spring - Senior -Weekend - 0.00% - 0.00% 35 0.20% 525 0.16% 35 0.10% 525 0.07% 28 For $28 - 18 Holes - 0.00% - 0.00% 121 0.69% 1,452 0.46% 121 0.33% 1,452 0.20% Bounce Back 54 0.28% 610 0.15% - 0.00% - 0.00% 54 0.15% 610 0.08% Labor Day - 18 Holes 31 0.16% 828 0.21% 16 0.09% 502 0.16% 47 0.13% 1,330 0.19% Labor Day - 9 Holes 13 0.07% 234 0.06% 22 0.13% 396 0.12% 35 0.10% 630 0.09% Memorial Day - 18 Holes 44 0.23% 1,338 0.33% 49 0.28% 1,542 0.48% 93 0.25% 2,880 0.40% Memorial Day - 9 Holes 16 0.08% 280 0.07% 14 0.08% 252 0.08% 30 0.08% 532 0.07% Independence Day - 18 Holes 39 0.20% 1,110 0.28% - 0.00% - 0.00% 39 0.11% 1,110 0.15% Independence Day - 9 Holes 8 0.04% 140 0.04% - 0.00% - 0.00% 8 0.02% 140 0.02% Other 62 0.32% 944 0.24% 7 0.04% 112 0.04% 69 0.19% 1,056 0.15% TOTAL 19,319 234.95%$399,418 100.00%17,426 100.00%$318,366 100.00%36,745 100.00%$717,784 100.00% 5