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(6) <br />registration took place in November not in October as in the previous year. Pro Shop is down <br />slightly. But recently took in $16,000 in November for Hockey Club jerseys and Olmsted <br />Falls Varsity Hockey jerseys. Please keep in mind that Y-T-D Revenue is up, $48,000 ahead <br />of last year, and we projected to be up $15,000 from last year. Therefore, we are $33,000 <br />over our projection. Mrs. Hayes inquired as to why the Tax revenue is down. Mr. Morgan <br /> <br />explained it is primarily due to the way it is collected. <br /> <br />2002 BUDGET REVIEW <br /> <br />Revenue Projection: <br />? <br /> <br />In the past, we went with 1% increase as our revenue projection. <br />? <br /> <br />We have backed out $30,000 from Rink revenue and $6000 from Concession revenue, as this <br />was revenue collected due to the Rink being open over the summer, and are not sure we will <br /> <br />keep it open for Summer 2002. <br />? <br /> <br />Keep in mind, if we keep the rink open over the summer, we can add revenue back into to the <br /> <br />Rink and Concession. <br />? <br /> <br />Mr. Limpert asked why we would not consider keeping the Rink open during the summer. <br />Mr. Morgan responded that Jeff Marshall barely broke even this summer, and would probably <br />only rent what he knows he can sell. He would probably be willing to commit to only around <br />$22k. And he (Mr. Morgan) would have to try to sell the remaining ice, around $14k, to <br />cover the cost of utilities and keeping the Rink open during the summer. Electric alone costs <br />approx. $11k, which is the vast majority of the expenses. Certainly we would like to do this <br /> <br />again. <br />? <br /> <br />Mr. Miller inquired if utilities were the only major expense for keeping the rink open. Mr. <br />Morgan stated that, yes that is the main expense. He does have an amortization on the total <br />cost, if Mr. Miller wishes to view it. Basically, besides utilities, it puts a slight strain on <br /> <br />maintenance staffing in regards to keeping up with the Parks and the Rink. <br />? <br /> <br /> It was suggested by Mr. Jenkins that we change “Total All Revenue” to “Total All <br /> <br />Resources”. <br />? <br /> <br />Tax revenue, according to Carrie Copfer, will be an increase of 2%. <br />? <br /> <br />Coke revenue will be $7000. <br />? <br /> <br />$30,000 projected for a Carry-over at this time. Compared this to the $180,000 Carry-over <br /> <br />from 2000 to 2001, which was utilized in 2001 to complete much-needed improvements. <br />? <br /> <br />$140,000 estimated for a General Fund Transfer, which is the same amount we asked for last <br /> <br />year. <br />? <br /> <br />This gives a total of approx. $2,332,000 for resources available. <br /> <br />Expenditure Projection: <br />? <br /> <br />Expenditures currently estimated at $2,568,995, which leaves a deficit of $219,000. This is <br /> <br />assuming a $140,000 General Fund Transfer. <br />? <br /> <br />Wages: We are without one full-time supervisor, Jackie Ryan. Our current full-time <br />supervisors have picked up the slack for her. She will not be replaced, therefore we are <br />saving approximately $23k. We would like to increase our part-timers to bring them up to <br /> <br />level with the going rates in the area. This reflects a 20% increase for part-time wages. <br />? <br /> <br />Mr. Miller asked whom benefits from “Boot Allowance” ? Mr. Morgan explained that this is <br /> <br />4 full-time maintenance employees per union contract, plus Tom Stein, so a total of 5. <br />Page 6 <br /> <br />