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2015-03-09 STMA Ice Arena Board PacketSTMA M:\Public Data\Arena\2015\agendas\2015-03-09\03092015 STMA Agenda.doc STMA ARENA BOARD AGENDA MONDAY, MARCH 9, 2015 ALBERTVILLE CITY HALL 6:00 PM 1. CALL TO ORDER – ROLL CALL 2. ADOPT AGENDA 3. APPROVAL OF THE MINUTES OF FEBRUARY 9, 2015 (pgs 1-3) 4. FINANCE REPORTS a) Approve the February list of claims as presented in the amount of $15,439.27 and February report (pgs 4-7) 5. ARENA MANAGER a) Monthly report (pgs 8-9) 6. NEW BUSINESS 7. OLD BUSINESS a) Discussion 2015 Preliminary Budget (pg 10) 8. YOUTH HOCKEY ASSOCIATION 9. ADJOURN ST. MICHAEL-ALBERTVILLE ICE ARENA BOARD MINUTES February 9, 2015 6:00 p.m. Present: Chairman Jeff Lindquist, Members Gayle Weber, Walter Hudson, Chris Schumm and Cody Gulick. Member John Vetsch was absent. Also present: STMA Ice Arena Manager Grant Fitch, City Administrator Adam Nafstad, Mark Erickson from MASC, and Steve Olson from MASC, Youth Hockey Association President Josh Opiola, St. Michael Administrator Steve Bot, Superintendent Behle, STMA Athletic Director Benson and a good representation of STMA community members. The meeting was called to order at 6:04 p.m. by Chairman Lindquist. Set Agenda Chairman Lindquist recommended amending the agenda to move the presentation from item two to item four. Members Schumm\Hudson moved to set the agenda as amended. All voted aye. Approval of Minutes Members Schumm\Hudson moved to approve the minutes of the January 12, 2015 Board Meeting as presented. All voted aye. MASC & YHA Feasibility Presentation Josh Opiola introduced the group that will be working on and presenting the feasibility study for the second sheet of ice. He stated that Chris Hanson and Roger Lucy have been working on this project and would be the future contacts for questions moving forward. Opiola introduced Steve Olson and Mark Erickson from the National Sports Center to present the findings on step one of the study. Steve Olson is the Chief Operating Officer of the National Sports Center (NSC) in Blaine. Olson provided the Board with some history of the NSC, the Mighty Ducks program, and how there groups work with various athletic groups. They are part of the Minnesota Armature Sports Commission, and assist with multiple facilities that are built on a model of economic impact. Olson commended the STMA community for having an active Joint Powers Board in place for the Ice Arena and for being such a successful organization. Mr. Olson also noted that his group would assist the Ice Arena Board with the next steps of moving forward with a second sheet. Mark Erickson from NSC Consulting presented the demand study to the Board, noting that the purpose of the study, or step one, is to verify that the demand is there for a second sheet. This is generally done by reviewing the use of prime-time ice hours, user groups of the ice time, and ice availability in the surrounding area. The study did confirm there is a demand for the second sheet of ice and noted that the Youth Hockey Association rented 443 hours of ice time at other arenas last season (2013-2014). After some discussion of the competitive ice arena facilities within a five to ten mile radius, the conclusion is that there is an excess demand for prime-time hours and that there is room for outside prime hours from other groups and unidentified users. It was also mentioned that the prime-time usages for surrounding rinks was close to 100% and that a second sheet would draw more prime-time use by the STMA Youth Hockey Association. Mr. Erickson stated the next step would be to identify all user groups, hours, and determine the feasibility. STMA Arena Board Mtg 03/09/15 Page 1 STMA Ice Arena February 9, 2015 Minutes Page 2 Chairman Lindquist recognized Dr. Behle and Athletic Director Benson as being in attendance and noted that the report is in draft format and will need to be updated to reflect more of a flat growth model. Member Gulick questioned the capacity of other area rinks during peak hours. Erickson stated there is an excess demand for prime-time hours during the season at the other rinks in the area. Member Hudson noted that the report’s conclusion referenced that overall success of operations depends on hours outside of the prime-time slots, and questioned if there were any indications that other users would contract for outside hours. Erickson stated, yes, and that he believes that there are markets for the shoulder season, but the users needed to be identified. Olson spoke of commitments by user groups to buy ice as part of the funding model needed prior to building a second sheet. Chairman Lindquist inquired about governmental entities entering into contracts with informal organizations, such as youth athletic associations. Olson explained that an organization’s financial position needs to be reviewed prior to entering into contracts. Olson stated that the connection between government entities and non-profit sports organizations are a good partnership but there has to be a written agreement. Adding a second sheet of ice adds capacity and opportunity. Member Weber further inquired about entering into agreements with non-profits, and whether the agreements would be enforceable. Olson spoke of more success stories than failures. Olson also added that non-profit commitments can be backed by banks. Member Hudson inquired as to how a twenty-year contract would factor in future rate increases. Olson stated that the contracts say the organization pays the going ice rate and\or included a rate accelerator. The Board also asked about corporate sponsors and additional programming. Olson stated that they would be willing to look into those. There was continued discussion on the topic, as well as, discussion about tournaments, figure skating, and more ice time for the girls, etc. Nafstad inquired about step two of the study. Olson stated that first it needs to be agreed that a second sheet is needed. Second, the scope and price of the project needs to be determined. Then MASC would evaluate and analyze for operations to set the ice rate looking at the projections of revenues and expenses. Arena Manager Fitch and High School coaches Johnson and Johnson spoke of the varsity and junior- varsity programs and how added ice opportunities would help their programs. Members Weber\Schumm moved to authorize NSC consulting group to move into phase two of the assessment of need\desire for the second sheet of ice for the STMA Ice Arena. All voted aye. STMA Arena Board Mtg 03/09/15 Page 2 STMA Ice Arena February 9, 2015 Minutes Page 3 Finance Reports Members Schumm\Hudson moved to approve the January list of claims totaling $5,041.53 and the January Financial Report as presented. All voted aye. Arena Manager’s Report Fitch reported that there were only two games left this season and the High School helped by providing two sets of portable bleachers for seating. Also, there have been no major repairs. Members Hudson\Schumm moved to approve the Ice Arena Manager’s report as presented. All voted aye. New Business Chairman Lindquist and the Board discussed on appointing the Chair for 2015. In the discussion, it has been the practice that the chair is switched annually and each entity takes their turn. It was mentioned that this year is St. Michael’s turn. Chairman Lindquist\Hudson moved to appoint Chris Schumm as the Chairman for the STMA Ice Arena Board for 2015. All voted aye. Nafstad thanked Lindquist for his service as chairman for the past two years. Nafstad presented the first draft of the 2015 preliminary budget noting the operating loss due to the gas bill increase with the new dehumidification system. In the past, the gas bill was $8,000 annually for three small furnaces and now it has tripled. Nafstad mentioned he was working with Center Point Energy and the engineers to verify that budget number of $24,000 for 2015. In addition, there is an increase for electric. Nafstad also noted that the budget is more aggressive on ice rental revenue. In April the Board needs to look at ice rate. Chairman Schumm stated he would like to see the budget at the next meeting and adopt the budget in March. Staff was directed by the Board to bring the preliminary budget forward with the proposed rate adjustment, options on selling more ice time, looking at a prepaid arrangement for ice rental (with a minimum of two week cancelation policy), and verify the gas cost projection. Adjourn Members Lindquist\Gulick moved to adjourn at approximately 7:40 p.m. All voted aye. Attest: __________________________________ Tina Lannes, City Finance Director STMA Arena Board Mtg 03/09/15 Page 3 STMA STMA Ice Arena Preliminary Budget to Actual February 2015 (Cash Basis) 2015 Proposed Budget (draft) February 2015 Actual 2015 Actual YTD 2/28/15 % Annual Income Ice Rental (currently includes Dec Acct. Rec. Collected $260,000.00 $48,496.00 $89,811.00 34.54% Concessions $32,000.00 $7,929.00 $16,342.37 51.07% Other Revenues (Advertising/LMC/Ins. Claims) $14,500.00 $0.00 $0.00 0.00% Vending $1,000.00 $50.00 $50.00 5.00% Open Skate/Hockey, etc. $6,500.00 $301.00 $816.00 12.55% Interest $500.00 $0.00 $0.00 0.00% Misc. Revenue $2,000.00 $462.00 $1,082.00 Total Income $316,500.00 $57,238.00 $108,101.37 34.16% Expenses Salaries, Wages, Taxes & Benefits $117,002.67 $12,152.99 $24,341.41 20.80% Supplies (Office, Misc.) $1,500.00 $229.75 $229.75 15.32% Supplies (Concession) $13,250.00 $3,174.13 $4,259.96 32.15% Fuel, Misc. $1,800.00 $252.98 $252.98 14.05% Professional Services $15,000.00 $205.65 $205.65 1.37% Sales Tax $2,700.00 $0.00 $0.00 0.00% Telephone $900.00 $71.40 $142.80 15.87% Electric $70,000.00 $5,417.62 $5,445.57 7.78% Gas $24,000.00 $3,701.55 $3,701.55 15.42% Water $17,800.00 $3,870.06 $3,870.06 21.74% Refuse $1,400.00 $303.13 $578.48 41.32% Insurance $9,000.00 $0.00 $2,154.00 23.93% Administration $11,920.61 $1,986.76 $1,986.76 16.67% Misc. $725.00 $239.64 $284.98 39.31% Repair Maintenance – Machinery $10,000.00 $33.95 $33.95 0.34% Repair Maintenance – Building $27,500.00 $784.36 $1,458.61 5.30% Total Operating Expenses $324,498.28 $32,423.97 $48,946.51 15.08% Net Income/Loss ($7,998.28) $24,814.03 $59,154.86 STMA Arena Board Mtg 03/09/15 Page 4 STMA ICE ARENA CASH BALANCES AND RECEIVABLES February 28, 2015 Cash Balance Operations Cash Balance 1/1/15 (Estimated) $ 90,617 Add Revenues (collected in 2015) $108,101 Less Expenses $ 48,947 Cash Balance 2/28/15 $149,772 Cash for operations $149,772 Total Cash Balance 2/28/15 $149,772 Accounts Receivable (invoiced) February 28, 2015 - $1,490.88 Cash Balance Dedicated Capital Improvement Fund Arena Owner Dedicated Cap. Imp. Fund Beginning Balance 1/1/15 $8,398 2015 contribution rec. by St. Michael $0 2015 contribution rec. by Albertville $0 2015 contribution rec. by STMA Schools $0 Balance 2/28/15 $8,398 STMA Arena Board Mtg 03/09/15 Page 5 STMA Ice Arena Vendor Check Detail Register CITY OF ALBERTVILLE February 2015 Check Amt Invoice Comment 10100 Premier Bank Paid Chk# 003427E 2/2/2015 RANDYS ENVIRONMENTAL SERVICES E 810-00000-384 Refuse/Garbage Disposal $303.13 STMAFeb15 STMA Arena Garbage Paid Chk# 003430E 2/2/2015 WATSON COMPANY E 810-00000-252 Food/Consessions For Resale $1,025.32 847684 STMA Arena Concessions Paid Chk# 003441E 2/17/2015 FERRELLGAS E 810-00000-212 Motor Fuels $135.49 1085577070 STMA Arena Propane E 810-00000-212 Motor Fuels $117.49 1085817250 STMA Arena Propane Paid Chk# 003447E 2/17/2015 WATSON COMPANY E 810-00000-252 Food/Consessions For Resale $346.55 848096 STMA Arena Concessions E 810-00000-252 Food/Consessions For Resale $545.15 848322 STMA Arena Concessions Paid Chk# 003450E 2/17/2015 WRIGHT-HENNEPIN COOP ELECTRIC E 810-00000-381 Electric Utilities $27.95 STMA MAR15 STMA Arena Fire Panel Monitor Paid Chk# 003451E 2/17/2015 ZEE MEDICAL SERVICE E 810-00000-200 Office Supplies (GENERAL) $33.35 54097549 STMA Arena 1st Aid Kit Supplies Paid Chk# 034022 2/2/2015 ARAMARK UNIFORM SERVICES E 810-00000-405 Repair/Maint - Buildings $14.25 629-8151704 STMA Arena Mats, Mop Paid Chk# 034025 2/2/2015 COCA COLA ENTERPRISES BOTTLING E 810-00000-254 Soft Drinks/Mix For Resale $513.00 168194514 STMA Arena Soda, Water, Powerade Paid Chk# 034032 2/2/2015 METLIFE-GROUP BENEFITS E 810-00000-130 Employer Paid Ins (GENERAL) $164.55 FEB2015 Emp Life, Dental Stdis Paid Chk# 034043 2/2/2015 SCR, INC - ST. CLOUD E 810-00000-405 Repair/Maint - Buildings $660.00 293745 STMA Arena Monthly Refrig Equip Contract Paid Chk# 034049 2/5/2015 CARD SERVICES(ARENA) E 810-00000-252 Food/Consessions For Resale $25.10 10308 STMA Arena Concessions E 810-00000-252 Food/Consessions For Resale $14.90 11317 STMA Arena Concessions E 810-00000-252 Food/Consessions For Resale $27.77 11708 STMA Arena Concessions E 810-00000-252 Food/Consessions For Resale $8.58 12408 STMA Arena Concessions E 810-00000-252 Food/Consessions For Resale $28.27 13108 STMA Arena Concessions Paid Chk# 034056 2/17/2015 ALS COFFEE E 810-00000-252 Food/Consessions For Resale $268.45 116078 STMA Arena Concessions Paid Chk# 034058 2/17/2015 ARAMARK UNIFORM SERVICES E 810-00000-405 Repair/Maint - Buildings $14.25 629-8160925 STMA Arena Mats, Mop Paid Chk# 034059 2/17/2015 BCBS OF MINNESOTA E 810-00000-130 Employer Paid Ins (GENERAL) $752.75 CI261100MAR15 Emp Health Ins Paid Chk# 034062 2/17/2015 CENTERPOINT ENERGY E 810-00000-383 Gas Utilities $3,701.55 53901310JAN15 STMA Arena 5898 Lachman Ave NE STMA Arena Board Mtg 03/09/15 Page 6 Paid Chk# 034063 2/17/2015 CHARTER COMMUNICATIONS E 810-00000-321 Telephone $71.40 STMA FEB15 STMA Arena Phone Paid Chk# 034064 2/17/2015 COCA COLA ENTERPRISES BOTTLING E 810-00000-254 Soft Drinks/Mix For Resale $371.04 178475312 STMA Arena Concessions Paid Chk# 034065 2/17/2015 DAN DEHMER LANDSCAPING INC E 810-00000-300 Professional Srvs (GENERAL) $150.00 5305 STMA Arena Jan 2015 Snow Removal Paid Chk# 034067 2/17/2015 DJS TOTAL HOME CARE CTR-ARENA E 810-00000-404 Repair/Maint - Machinery/Equip $41.94 81389 STMA Arena Wrench, Socket, Spark Plugs E 810-00000-404 Repair/Maint - Machinery/Equip ($7.99) 81422 STMA Arena Return Socket Paid Chk# 034071 2/17/2015 JORSON & CARLSON INC E 810-00000-300 Professional Srvs (GENERAL) $55.65 394290 STMA Arena Ice Scraper Knives Sharpened Paid Chk# 034080 2/17/2015 ROYAL SUPPLY, LLC E 810-00000-200 Office Supplies (GENERAL) $196.40 15999 STMA Arena Cleaning Product Paid Chk# 034081 2/17/2015 STEP SAVER INC E 810-00000-405 Repair/Maint - Buildings $95.86 87345 STMA Arena bulk salt & resin cleaner Paid Chk# 034092 2/24/2015 FRANKLIN OUTDOOR ADVERTISING E 810-00000-399 Miscellaneous $32.90 66755 STMA Arena 2x3' PVC Sign STMA&STMAYHA Paid Chk# 034093 2/24/2015 METLIFE-GROUP BENEFITS E 810-00000-130 Employer Paid Ins (GENERAL) $164.55 MAR2015 Emp Life, Dental, Stdis Paid Chk# 034094 2/24/2015 MINNESOTA ICE ARENA MGRS ASSOC E 810-00000-433 Dues and Subscriptions $150.00 3004 STMA Arena 2015 Annual Membership Dues Paid Chk# 034095 2/24/2015 XCEL ENERGY E 810-00000-381 Electric Utilities $5,389.67 303459708 STMA Arena 5898 Lachman 810 STMA ICE ARENA $15,439.27 STMA Arena Board Mtg 03/09/15 Page 7 STMA MANAGER’ GENERAL UPDATE Date: March 9th, 2015 To: STMA Arena Board From: Grant Fitch, STMA Arena Manager ARENA RENTAL HOURS – FEBRUARY Name Prime-time Off-peak Youth Hockey 175.25 hours Adult Hockey 8 hours High School Boys/Girls 28 hours Public Skating/OH 11.5 hours Private rentals 3 hours Learn to Skate 0 hours __________________________________________________________________________ Total hours 225.75 hours Minnesota Hockey PWB Regional Tournament: STMA YHA hosted the Tournament February 27 – March 1. The 13 games attracted about 800 spectators over the weekend. YH Knights To Remember Event: Saturday March 21, 6:00 to Midnight Ice Arena Rate Survey 2015-16 Season: See attached STMA Arena Board Mtg 03/09/15 Page 8 20 1 5  MI A M A  Ra t e  Su r v e y as o f J a n . 1 3 , 2 0 1 5  (p r o p o s e d ) RI N K N A M E 20 1 5 P R I M E R A T E 20 1 5 N O N P R I M E R A T E 20 1 5 S U M M E R 20 1 6 P R I M E MA N A G E R E M A I L Ma r i u c c i  Ar e n a 24 0 $                                         24 0 $                                                               24 0 $                               25 0 $                      fl o r x 0 0 3 @ u m n . e d u Ri d d e r  Ar e n a 24 0 $                                         24 0 $                                                               24 0 $                               25 0 $                      fl o r x 0 0 3 @ u m n . e d u Bu r n s v i l l e  Ic e  Ce n t e r 22 0 $                                         19 5 $                                                               19 5 $                               tb d de a n . m u l s o @ c i . b u r n s v i l l e . m n . u s Da k o t a h  Sp o r t s  an d  Fi t n e s s 22 0 $                                         22 0 $                                                               22 0 $                               tb d St .  Th o m a s  Ac a d e m y 22 0 $                                         14 0 $                                                               15 0 $                               22 0 $                      Ap p l e  Va l l e y 21 5 $                                         21 5 $                                                               21 5 $                               tb d La k e v i l l e  Ic e  Ar e n a 21 5 $                                         21 5 $                                                               16 0 $                               tb d Fa r m i n g t o n  Ic e  Ar e n a 21 0 $                                         21 0 $                               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J u l y No I c e A p r i l - M a y 20 1 4 B u d g e t 20 1 4 A c t u a l 12 / 3 1 / 1 4 Y T D 20 1 5 Pr o p o s e d Bu d g e t n o ra t e i n c r e a s e 2015 Proposed Budget $5 rate increase In c o m e Ic e R e n t a l $ 2 4 3 , 4 5 0 . 0 0 $ 2 5 4 , 3 1 7 . 6 8 $ 2 6 0 , 0 0 0 . 0 0 $ 2 6 6 , 2 0 0 . 0 0 Le a s e $ 2 4 3 , 4 5 0 . 0 0 $ 2 5 4 , 3 1 7 . 6 8 $ 2 6 0 , 0 0 0 . 0 0 $ 2 6 6 , 2 0 0 . 0 0 Re n t a l $ 0 . 0 0 Co n c e s s i o n s $ 3 3 , 0 0 0 . 0 0 $ 3 1 , 4 4 1 . 6 0 $ 3 2 , 0 0 0 . 0 0 $ 3 2 , 0 0 0 . 0 0 Ot h e r R e v e n u e s ( A d v e r t i s i n g / L M C / i n s c l a i m s ) $ 1 2 , 0 0 0 . 0 0 $ 2 9 , 3 5 2 . 6 5 $ 1 4 , 5 0 0 . 0 0 $ 1 4 , 5 0 0 . 0 0 Ve n d i n g $ 1 , 1 0 0 . 0 0 $ 9 6 2 . 4 3 $ 1 , 0 0 0 . 0 0 $ 1 , 0 0 0 . 0 0 Op e n S k a t e / H o c k e y , e t c $6 , 0 0 0 . 0 0 $ 7 , 0 8 5 . 0 0 $ 6 , 5 0 0 . 0 0 $ 6 , 5 0 0 . 0 0 In t e r e s t $5 0 0 . 0 0 $ 2 , 6 8 5 . 5 7 $ 1 , 0 0 0 . 0 0 $ 1 , 0 0 0 . 0 0 Mi s c R e v e n u e $ 5 0 0 . 0 0 $ 2 , 3 7 5 . 9 0 $ 2 , 0 0 0 . 0 0 $ 2 , 0 0 0 . 0 0 To t a l I n c o m e $2 9 6 , 5 5 0 . 0 0 $ 3 2 8 , 2 2 0 . 8 3 $ 3 1 7 , 0 0 0 . 0 0 $ 3 2 3 , 2 0 0 . 0 0 Ex p e n s e s Sa l a r i e s , w a g e s , t a x e s & B e n e f i t s $ 1 0 9 , 0 2 4 . 9 0 $ 1 1 2 , 4 8 3 . 4 0 $ 1 1 5 , 7 1 3 . 0 0 $ 1 1 5 , 7 1 3 . 0 0 Su p p l i e s ( O f f i c e , m i s c ) $ 1 , 5 0 0 . 0 0 $ 2 , 3 8 5 . 8 2 $ 1 , 5 0 0 . 0 0 $ 1 , 5 0 0 . 0 0 Su p p l i e s ( C o n c e s s i o n ) $ 1 3 , 2 5 0 . 0 0 $ 1 3 , 4 0 9 . 1 0 $ 1 3 , 2 5 0 . 0 0 $ 1 3 , 2 5 0 . 0 0 Fu e l , M i s c $ 2 , 4 0 0 . 0 0 $ 1 , 8 2 9 . 0 4 $ 1 , 8 0 0 . 0 0 $ 1 , 8 0 0 . 0 0 Pr o f e s s i o n a l S e r v i c e s $ 1 5 , 0 0 0 . 0 0 $ 1 6 , 5 2 8 . 8 6 $ 1 5 , 0 0 0 . 0 0 $ 1 5 , 0 0 0 . 0 0 Sa l e s T a x $ 3 , 2 0 0 . 0 0 $ 2 , 6 9 5 . 7 0 $ 2 , 7 0 0 . 0 0 $ 2 , 7 0 0 . 0 0 Te l e p h o n e $ 1 , 0 0 0 . 0 0 $ 8 8 4 . 4 6 $ 9 0 0 . 0 0 $ 9 0 0 . 0 0 El e c t r i c $ 6 5 , 0 0 0 . 0 0 $ 6 5 , 1 1 1 . 4 7 $ 7 0 , 0 0 0 . 0 0 $ 7 0 , 0 0 0 . 0 0 Ga s $ 8 , 0 0 0 . 0 0 $ 1 7 , 0 9 8 . 6 6 $ 2 4 , 0 0 0 . 0 0 $ 2 4 , 0 0 0 . 0 0 Wa t e r $ 1 7 , 5 0 0 . 0 0 $ 1 7 , 7 5 8 . 4 6 $ 1 7 , 8 0 0 . 0 0 $ 1 7 , 8 0 0 . 0 0 Re f u s e $ 1 , 3 0 0 . 0 0 $ 1 , 3 7 1 . 9 4 $ 1 , 4 0 0 . 0 0 $ 1 , 4 0 0 . 0 0 In s u r a n c e $ 9 , 0 0 0 . 0 0 $ 8 , 6 9 0 . 0 0 $ 9 , 0 0 0 . 0 0 $ 9 , 0 0 0 . 0 0 Ad m i n i s t r a t i o n $ 1 1 , 6 8 6 . 8 7 $ 1 1 , 6 8 6 . 8 7 $ 1 1 , 9 2 0 . 6 1 $ 1 1 , 9 2 0 . 6 1 Mi s c . $ 5 2 5 . 0 0 $ 7 0 6 . 8 8 $ 7 2 5 . 0 0 $ 7 2 5 . 0 0 Re p a i r M a i n t e n a n c e – M a c h i n e r y $ 1 0 , 0 0 0 . 0 0 $ 4 , 3 2 5 . 5 4 $ 1 0 , 0 0 0 . 0 0 $ 1 0 , 0 0 0 . 0 0 Re p a i r M a i n t e n a n c e – B u i l d i n g $ 2 7 , 5 0 0 . 0 0 $ 3 1 , 2 7 5 . 1 9 $ 2 7 , 5 0 0 . 0 0 $ 2 7 , 5 0 0 . 0 0 To t a l O p e r a t i n g E x p e n s e s $ 2 9 5 , 8 8 6 . 7 7 $ 3 0 8 , 2 4 1 . 3 9 $ 3 2 3 , 2 0 8 . 6 1 $ 3 2 3 , 2 0 8 . 6 1 Ne t I n c o m e / L o s s $ 6 6 3 . 2 3 $ 1 9 , 9 7 9 . 4 4 ($ 6 , 2 0 8 . 6 1 ) ( $ 8 . 6 1 ) da t a $ / P u b l i c D a t a / F i n a n c e / B u d g e t / a r e n a b u d g e t 2 0 1 5 0 3 0 5 . x l s ST M A Ar e n a Board Mtg 03/09/15 Page 10