I wanted to thank everyone who had faith in what I was telling them over the last 2 years that we could have a brand new amazing facility that will cover its own costs. We received the proforma last night in council and the results were amazing. Our current pool lost 400k last year and this new facility will open its doors to an operating loss of 220k. Saving tax payers almost 200k the first year open. See below Pro Forma Statement Aquatic/Curling Facility 1 Key Assumptions • Financial performance involves aquatic operations, curling operations, tenant leases and facility memberships • Programming has been introduced for aquatic, curling and facility memberships • Purchased memberships can be used at aquatic, fitness and existing facilities • Human resources has some integration into existing operations • Operations at existing facilities (e.g. Big Hill Leisure Pool and Cochrane Curling Club) and comparative facilities across Alberta have been used to identify revenues and expenses• Year round operations have been assumed for aquatic and fitness facilities; 6 months for ice (ice rentals and bonspiels) and 6 months for drypad (building rentals and programs) operations have been assumed for curling facility • Utilities expenses involve estimates from operations and rates paid by the SLSFSC • Advertising revenue has been assumed for the curling facility • Fixtures, furniture and equipment would be purchased as a capital expense • Amortization is not included as it is a non cash item. • With increasing population in the community, it is expected that the pattern of financial performance would likely result in full operational recovery shortly beyond the initial three years. Once this occurs, a full lifecycle contribution by the Town of $400,000 (1% of construction costs) is recommended as per industry standard. Revenues 2017 2018 2019 Aquatic Operations $ 710,000 $ 740,500 $ 770,000 Curling Operations 183,500 216,700 253,500 Tenant Leases 231,500 231,500 231,500 Facility Memberships 465,200 522,200 566,900 Total $ 1,590,200 $ 1,710,900 $ 1,821,900 Expenses Salaries, Wages and Benefits $ 1,153,900 $ 1,177,450 $ 1,200,900 General Administration 108,150 111,300 114,500 Maintenance and Repairs 142,000 146,400 149,800 Utilities 335,000 342,000 349,000 Program Costs 37,850 45,450 53,000 Contracted Services 34,000 35,500 37,000 Total $ 1,810,900 $ 1,858,100 $ 1,904,200 Excess (Deficiency) of Revenue over Expenditure ($ 220,700) ($ 147,200) ($ 82,300) Contribution to Lifecycle $ 179,300 $ 252,800 $ 317,700 Excess (Deficiency) after Contribution to Lifecycle ($ 400,000) ($ 400,000) ($
Posted on: Wed, 26 Mar 2014 01:29:19 +0000
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