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HomeMy WebLinkAbout12-2021 Golf FinMonthly Financial Statements - Golf December 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 TWELVE MONTHS ENDED DECEMBER 31, 2021 ELBEL ERSKINE STUDEBAKER TOTAL Golf Operating Revenues: Daily Green Fees 384,330$ 321,724$ 64,073$ 770,127$ Season Ticket Sales (a) 62,408 87,553 67,585 217,547 Cart Rentals 191,340 168,868 24,384 384,592 Merchandise Sales 33,959 36,587 5,583 76,129 Driving Range 33,650 N/A N/A 33,650 Gift Certificates (Net) - 1,070 - 1,070 Miscellaneous 5,907 2,980 1,083 9,970 Total Golf Operating Revenues: 711,594$ 618,783$ 162,709$ 1,493,085$ Concession Operating Revenues: Food Sales 41,908$ 23,970$ 1,227$ 67,105$ Pop Sales 20,089 16,649 4,079 40,817 Alcohol Sales 84,972 63,629 N/A 148,601 Miscellaneous/Reservations/Other (1,870) 5,765 - 3,895 Total Concession Operating Revenues: 145,099$ 110,013$ 5,306$ 260,418$ Total Operating Revenues:856,692$ 728,796$ 168,015$ 1,753,503$ Golf Operating Expenses: Personnel (b) 413,875$ 413,875$ 91,972$ 919,723$ Shared Administrative Expenses (b) 93,149 93,149 20,700 206,998 Supplies 181,920 173,823 26,804 382,547 Contractual 63,656 40,257 13,190 117,103 Debt Service 33,213 33,213 7,381 73,806 Total Golf Operating Expenses: 785,813$ 754,316$ 160,046$ 1,700,176$ Operating Income (Loss) 70,879$ (25,520)$ 7,968$ 53,328$ (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 TWELVE MONTHS ENDED DECEMBER 31, 2021 ELBEL ERSKINE STUDEBAKER TOTALS Revenue Percent Change Change 2020 2021 2020 2021 2020 2021 2020 2021 GREEN FEES $379,684 $384,625 $340,603 $321,488 $77,331 $64,264 797,618 $770,378 ($27,241) -3% SEASON PASS SALES 28,859 28,615 109,645 185,168 12,529 14,172 151,033 227,955 76,922 51% CART RENTALS 173,015 189,108 160,810 159,103 26,950 24,385 360,776 372,596 11,820 3% MERCHANDISE SALES 26,218 33,568 26,237 33,404 2,344 5,584 54,800 72,556 17,757 32% DRIVING RANGE RECEIPTS 30,871 33,650 N/A N/A N/A N/A 30,871 33,650 2,779 0% LEAGUE ENTRY FEES 0 0 0 0 0 0 0 0 0 0% TOTAL $638,648 $669,566 $637,295 $699,164 $119,155 $108,406 $1,395,098 $1,477,135 $82,037 6% 3 GOLF COURSE OPERATIONS COMPARATIVE ROUNDS PLAYED* 2018 THRU 2021 (THROUGH DECEMBER) AVERAGE GOLF COURSE 2018 2019 2020 2018-20 2021 Elbel (Daily) 13,495 14,416 18,969 15,627 18,427 Elbel (Season) 3,530 4,602 4,175 4,102 5,485 ELBEL TOTAL 17,025 19,018 23,144 19,729 23,912 CHANGE FROM PREV YR.12% 22% 3% Erskine (Daily) 14,898 13,817 20,394 16,370 17,729 Erskine (Season) 6,554 6,740 5,199 6,164 7,695 ERSKINE TOTAL 21,452 20,557 25,593 22,534 25,424 CHANGE FROM PREV YR.-4% 24% -1% Studebaker (Daily) 7,965 6,067 9,413 7,815 7,642 Studebaker (Season) 488 3,383 5,954 3,275 5,940 STUDEBAKER TOTAL 8,453 9,450 15,367 11,090 13,582 CHANGE FROM PREV YR.12% 63% -12% Total (Daily) 36,358 34,300 48,776 39,811 43,798 Total (Season) 10,572 14,725 15,328 13,542 19,120 TOTAL COURSES 46,930 49,025 64,104 53,353 62,918 CHANGE FROM PREV YR.4% 31% -2% *One "Round" = 18 Holes @ Elbel and Erskine One "Round" = 9 holes @ Studebaker 4 GOLF COURSE OPERATIONS DAILY FEE ROUNDS & SALES FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2021 ELBEL ERSKINE TOTAL % OF % OF % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF ROUNDS ROUNDS % OF GREEN FEES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES PLAYED PLAYED SALES SALES Preferred Players Card - Weekend - Before 12:00 611 3.32% 13,337 3.47% 358 2.02% 7,824$ 2.43% 969 2.68% 21,161$ 3.00% Preferred Players Card - Weekend - After 2:00 366 1.99% 3,285 0.85% 366 2.06% 3,290 1.02% 732 2.02% 6,575 0.93% Preferred Players Card - Weekend - 12:00 - 2:00 - 0.00% - 0.00% 66 0.37% 1,295 0.40% 66 0.18% 1,295 0.18% Preferred Player 18-Holes - Preferred Player - Weekday 2,353 12.77% 21,162 5.50% 2,389 13.48% 21,631 6.73% 4,742 13.12% 42,793 6.06% Preferred Player 9-Holes - Preferred Player - Weekday 938 5.09% 9,351 2.43% 1,466 8.27% 14,650 4.56% 2,404 6.65% 24,001 3.40% Preferred Player 9-Holes - Preferred Player - Weekend 47 0.26% 470 0.12% 72 0.41% 720 0.22% 119 0.33% 1,190 0.17% 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 0.06% 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% 181 1.02% 2,534 0.79% 181 0.50% 2,534 0.36% GolfNow Pay at Course 3,782 20.52%132,847 34.54%2,635 14.86%88,855 27.64%6,417 17.75%221,702 $0.31 18 Holes - Weekday - After 3 :00 401 2.18% 8,551 2.22% 74 0.42% 1,592 0.50% 475 1.31% 10,143 $0.01 18 Holes - Weekday - Before 3 :00 1,398 7.59% 33,276 8.65% 702 3.96% 17,907 5.57% 2,100 5.81% 51,183 $0.07 18 Holes - Weekend - After 3:00 194 1.05% 4,143 1.08% 130 0.73% 2,770 0.86% 324 0.90% 6,913 0.98% 18 Holes - Weekend - Before 2:00 - 0.00% - 0.00% 92 0.52% 2,934 0.91% 92 0.25% 2,934 0.42% 18 Holes - Weekend - Before 3:00 1,916 10.40% 56,771 14.76% 1,183 6.67% 37,668 11.72% 3,099 8.57% 94,439 13.37% 9 Holes 3,179 17.25% 45,925 11.94% 4,054 22.87% 58,994 18.35% 7,233 20.00% 104,919 14.86% Fall - 18 Holes 380 2.06% 6,627 1.72% 368 2.08% 5,792 1.80% 748 2.07% 12,419 1.76% Fall - 9 Holes - 0.00% - 0.00% 199 1.12% 1,990 0.62% 199 0.55% 1,990 0.28% Junior - Weekday 21 0.11% 634 0.16% 246 1.39% 4,083 1.27% 267 0.74% 4,717 0.67% Junior - Weekend 13 0.07% 480 0.12% 106 0.60% 2,310 0.72% 119 0.33% 2,790 0.40% Senior - Weekday 1,194 6.48% 21,212 5.52% 784 4.42% 14,110 4.39% 1,978 5.47% 35,322 5.00% Senior -Weekend 81 0.44% 1,782 0.46% 62 0.35% 1,362 0.42% 143 0.40% 3,144 0.45% Spring - 18 Holes - Weekday 360 1.95% 5,338 1.39% 355 2.00% 5,277 1.64% 715 1.98% 10,615 1.50% Spring - 18 Holes - Weekend 205 1.11% 4,078 1.06% - 0.00% - 0.00% 205 0.57% 4,078 0.58% Spring - 18 Holes - Weekend - After 2:00 7 0.04% 105 0.03% 48 0.27% 725 0.23% 55 0.15% 830 0.12% Spring - 18 Holes - Weekend - Before 2:00 77 0.42% 1,498 0.39% 372 2.10% 7,440 2.31% 449 1.24% 8,938 1.27% Spring - 18 Holes - Weekend - After 3:00 9 0.05% 135 0.04% - 0.00% - 0.00% 9 0.02% 135 0.02% Spring - 18 Holes - Weekend - Before 3:00 106 0.58% 2,118 0.55% - 0.00% - 0.00% 106 0.29% 2,118 0.30% Spring - 9 Holes 476 2.58% 5,210 1.35% 942 5.31% 9,420 2.93% 1,418 3.92% 14,630 2.07% Spring - Junior - 0.00% - 0.00% 15 0.08% 171 0.05% 15 0.04% 171 0.02% Spring - Senior - Weekday - 0.00% - 0.00% 119 0.67% 1,293 0.40% 119 0.33% 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 0.68% 1,452 0.45% 121 0.33% 1,452 0.21% Bounce Back 54 0.29% 610 0.16% - 0.00% - 0.00% 54 0.15% 610 0.09% Labor Day - 18 Holes 31 0.17% 828 0.22% 16 0.09% 502 0.16% 47 0.13% 1,330 0.19% Labor Day - 9 Holes 13 0.07% 234 0.06% 22 0.12% 396 0.12% 35 0.10% 630 0.09% Memorial Day - 18 Holes 44 0.24% 1,338 0.35% 49 0.28% 1,542 0.48% 93 0.26% 2,880 0.41% Memorial Day - 9 Holes 16 0.09% 280 0.07% 14 0.08% 252 0.08% 30 0.08% 532 0.08% Independence Day - 18 Holes 39 0.21% 1,110 0.29% - 0.00% - 0.00% 39 0.11% 1,110 0.16% Independence Day - 9 Holes 8 0.04% 140 0.04% - 0.00% - 0.00% 8 0.02% 140 0.02% Other 58 0.31% 880 0.23% 87 0.49% 172 0.05% 145 0.40% 1,052 0.15% TOTAL 18,427 100.00%$384,625 100.00%17,729 100.00%$321,488 100.00%36,156 100.00%$706,114 100.00% 5