09-RMSC review of Janesville conservative numbers
Janesville Ice Skating Center
Expected Profit and Loss provided by Janesville Youth Hockey
Conservative
ProjectedDifference
Club/Operated 2009
Item200820092010/2011vs Projected
Public Total$ 43,853$ 47,639$ 47,000 $ (639)(1)
Program Total 35,173 33,455 57,000 23,545
Contract Rental Total 91,857 137,617 163,000 25,383
Misc. Total 16,977 4,523 10,500 5,977
Total Revenue$ 187,860$ 223,234$ 277,500 $ 54,266(2)
Total Personnel 147,369 139,522 85,000 (54,522)(3)
Total Utilities 83,493 80,136 99,500 19,364
Insurance 1,864 1,645 40,000 38,355
Total Maintenance 22,254 40,122 12,500 (27,622)
All Misc. Expenses 20,073 31,850 37,950 6,100(4)
Total Expenses 275,053 293,275 274,950 (18,325)
Profit/Loss$ (87,193.00) $ (70,041.00) $ 2,550.00 $ 72,591.00(5)
** Janesville Youth Hockey proposed two budgets: conservative and realistic. This schedule represents the conservative budget.
(1) Total projected Public Admissions are very low compared to other RMSC facilities.
(2) An incremental increase in revenues of $54K does not justify the construction of a second sheet of ice.
(3) Payroll for the facility will not be able to be reduced by 39% from actuals, even with the volunteer staff.
A typical RMSC managed facility grossing under $300K will have payroll expenses of $135K to 155K.
(4) Miscellaneous expenses for a twin facility can be between $38K and $52K based on our experience.
(5) Net profit will be mostly impacted by the payroll expense line item; in our opinion, the payroll expense cost is too low.