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Five Flags Center Fiscal Year 2012 Detailed Operating BudgetMasterpiece on the Mississippi MCVM:jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager Marie L. Ware, Leisure Services Manager Mic ael C. Van Milligen Dubuque k AU- America City 2007 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Fiscal Year 2012 Detailed Operating Budget for the Five Flags Center DATE: April 26, 2011 Leisure Services Manager Marie Ware recommends City Council approval of the Fiscal Year 2012 Five Flags Center proposed operating budget submitted by SMG. During the City's Fiscal Year 2011 budget process, the Five Flags budget was adopted with a property tax support of $797,520. The Fiscal Year 2012 Operating Budget submitted by SMG has the property tax support projected at $811,875, the previous year's benchmark. I concur with the recommendation and respectfully request Mayor and City Council approval. Masterpiece on the Mississippi TO: Michael C. Van Milligen, City Manager FROM: Marie L. Ware, Leisure Services Manager SUBJECT: Fiscal Year 2012 Detailed Operating Budget for the Five Flags Center DATE: April 27, 2011 INTRODUCTION The purpose of this memorandum is to request City Council to receive and file the detailed fiscal year 2012 Operating Budget for the Five Flags Center. BACKGROUND General Manager Joyce White will attend the meeting and be able to answer any questions the City Council might have. ACTION STEP 2007 The action step is that the City Council approve the detailed FY 2012 operating budget for the Five Flags Center submitted by SMG. MLW:et attachment copy Joyce White, Five Flags Dubuque krttri All- America City 1 During the City's Fiscal Year 2012 budget process the Five Flags budget was adopted with a property tax support of $821,446. This budget reflected an estimated May CPI of 3 %. The contract we have with SMG to manage the facility states that a detailed budget will be submitted to the City in April prior to the July 1 beginning of the fiscal year. Attached is the detailed budget with the property tax support projected at $811,875, the previous year's benchmark. Five Flags budget reflects a CPI of 1.8 %. General Manager Joyce White has written (in the booklet), a memorandum to introduce the budget and to serve as the annual plan they are required to submit. This budget is reflective of the second year of operation as a non -ice revenue producing facility and focusing on a new business model. Five Flags Center Dubuque, Iowa BUDGET FISCAL YEAR 2012 Managed By Five Flags Center / SMG BUDGET - INDEX FYE 06/30/2012 Description Page BUDGET NARRATIVE 1 INCOME STATEMENT 2 MONTHLY EVENT SUMMARY 3 OTHER INCOME 4 INDIRECT EXPENSES SUMMARY 5 EXECUTIVE 6 FINANCE 8 MARKETING /SALES 10 EVENTS 12 OPERATIONS 14 BOX OFFICE 20 FOOD & BEVERAGE 22 OVERHEAD 24 OTHER 26 ADDENDUM C - EVENT SUMMARY 28 Memo Five Flags Center 405 Main Street Dubuque, IA 52001 (563) 589 -4254 To: Honorable Roy Buol, Mayor, City of Dubuque Mike VanMilligen, City Manager, City of Dubuque Marie Ware, Director, Leisure Services, City of Dubuque City Council Members, City of Dubuque Five Flags Commission Members From: Joyce White SMG General Manager Five Flags Center CC: Hank Abate SMG Senior Vice President Joe Romano SMG Regional Vice President Tom Lorenz SMG Regional General Manager Date: 3/23/11 Re: Fiscal Year 2011 -2012 Budget Ladies and Gentlemen: Attached is the proposed FY 2012 operating budget for Five Flags Center. Contractually, the annual increase in Five Flags operating budget is tied to the CPI -U. At the present time the CPI -U for FY'12 is projected to be a 1.8 percent increase compared to a two percent increase for CPI -U for FY'11. Therefore, management has designed this budget to reflect a Net Operating Loss of ($811,875), an increase of $(14,355) over the previous year's benchmark of ($797,520). Five Flags will be entering the second year of operation as a non -ice revenue producing facility and continuing to focus on defining our new business model. The proposed budget reflects anticipation of a shift toward more non - ticketed events, meeting, and flat floor events. Accordingly, the FY 2012 operating budget conservatively projects a 2% increase in revenue and a 2% increase in operating expenses. Management will continue to explore multiple uses for the Five Flags Center venue. An SMG Managed Facility 1 Five Flags Center For The Year Ending June 30, 2012 # of Events Attendance Description Event Income Ticket Income * Rental Income Reimbursed Exp Event Expenses Talent Fees Reimbursed Exp Direct Event Income Adjusted Gross Income 75 53,685 INCOME STATEMENT 60 55,941 148 59,133 263 94,952 (15) 2,256 57,057 70,615 23,965 5,782 13,558 78,880 73,450 88,545 139,848 (5,430) 147,425 162,582 161,667 249,948 15,157 (156,562) (216,745) (177,026) (332,177) (60,183) 0 (9,137) (54,163) (15,359) (82,229) (73,092) 126,800 89,902 97,151 63,401 (36,898) Ancillary Income Suite Ticket Sales 0 Club Seat Ticket Sales 0 Suite /Club Rentals 0 Concessions /Catering 68,002 77,925 67,178 133,845 9,923 Novelties 5,198 14,377 6,383 5,362 9,179 Ticket Rebates 4,262 4,139 8,209 9,528 (123) Facility Fee 37,191 46,029 40,210 42,691 8,838 Other Event Revenue 0 Other Ancillary Income 0 Parking 0 Total Ancillary 114,653 142,470 121,980 191,426 27,817 Total Event Income 241,453 232,372 219,131 254,827 (9,081) Other Operating Income Advertising 3,650 6,250 1,225 4,583 2,600 0 0 0 Interest 52 76 32 0 24 Ice Rentals 0 0 126,473 0 Other Income 285 1,470 810 6,015 1,185 0 Total Other Income 3,987 7,796 2,067 137,071 3,809 245,440 240,168 221,198 391,898 (5,272) Indirect Expenses Executive 179,810 172,970 173,817 188,333 (6,840) Finance 85,126 73,836 77,243 79,858 (11,290) Marketing 46,187 39,087 38,417 14,741 (7,100) Operations 206,990 198,774 200,851 227,670 (8,216) Box Office 76,792 75,336 72,577 72,952 (1,456) Events 85,100 80,319 80,402 114,455 (4,781) Concessions 33,722 52,863 23,878 45,930 19,141 Overhead 252,595 255,299 253,336 330,177 2,704 Total Indirect Expenses 966,322 948,484 920,521 1,074,116 (17,838) Net Operating Income /(Loss) (720,882) (708,316) (699,323) (682,218) (23,110) Other Expenses Management Fee 89,090 87,515 87,692 85,973 (1,575) Total Other Expenses 89,090 87,515 87,692 85,973 (1,575) Net Income /(Loss) ($809,973) ($795,831) ($787,015) ($768,191) (21,534) Benchmark FY11 $797,520 Est. CPI - All Urban 1.80% Est. FY12 Benchmark $811,875 An SMG Managed Facility 2 Total Actual Actual vs. Budget Budget Budget Estimate 12 Mos Ended Variance 2012 2011 6/30/2011 6/30/2010 Fav /(Unfav) Five Flags Center For The Year Ending June 30, 2012 # of Events Attendance Description Event Income Ticket Income * Rental Income Reimbursed Exp Event Expenses Talent Fees Reimbursed Exp Direct Event Income Adjusted Gross Income 75 53,685 INCOME STATEMENT 60 55,941 148 59,133 263 94,952 (15) 2,256 57,057 70,615 23,965 5,782 13,558 78,880 73,450 88,545 139,848 (5,430) 147,425 162,582 161,667 249,948 15,157 (156,562) (216,745) (177,026) (332,177) (60,183) 0 (9,137) (54,163) (15,359) (82,229) (73,092) 126,800 89,902 97,151 63,401 (36,898) Ancillary Income Suite Ticket Sales 0 Club Seat Ticket Sales 0 Suite /Club Rentals 0 Concessions /Catering 68,002 77,925 67,178 133,845 9,923 Novelties 5,198 14,377 6,383 5,362 9,179 Ticket Rebates 4,262 4,139 8,209 9,528 (123) Facility Fee 37,191 46,029 40,210 42,691 8,838 Other Event Revenue 0 Other Ancillary Income 0 Parking 0 Total Ancillary 114,653 142,470 121,980 191,426 27,817 Total Event Income 241,453 232,372 219,131 254,827 (9,081) Other Operating Income Advertising 3,650 6,250 1,225 4,583 2,600 0 0 0 Interest 52 76 32 0 24 Ice Rentals 0 0 126,473 0 Other Income 285 1,470 810 6,015 1,185 0 Total Other Income 3,987 7,796 2,067 137,071 3,809 245,440 240,168 221,198 391,898 (5,272) Indirect Expenses Executive 179,810 172,970 173,817 188,333 (6,840) Finance 85,126 73,836 77,243 79,858 (11,290) Marketing 46,187 39,087 38,417 14,741 (7,100) Operations 206,990 198,774 200,851 227,670 (8,216) Box Office 76,792 75,336 72,577 72,952 (1,456) Events 85,100 80,319 80,402 114,455 (4,781) Concessions 33,722 52,863 23,878 45,930 19,141 Overhead 252,595 255,299 253,336 330,177 2,704 Total Indirect Expenses 966,322 948,484 920,521 1,074,116 (17,838) Net Operating Income /(Loss) (720,882) (708,316) (699,323) (682,218) (23,110) Other Expenses Management Fee 89,090 87,515 87,692 85,973 (1,575) Total Other Expenses 89,090 87,515 87,692 85,973 (1,575) Net Income /(Loss) ($809,973) ($795,831) ($787,015) ($768,191) (21,534) Benchmark FY11 $797,520 Est. CPI - All Urban 1.80% Est. FY12 Benchmark $811,875 An SMG Managed Facility 2 Five Flags Center MONTHLY EVENT SUMMARY BUDGET Jul -10 Aug -10 Sep-10 Oct -10 Nov -10 Dec -10 Jan -11 Feb-11 Mar -11 Apr -11 May -11 Jun -11 6/30/2012 'Number of Events 2 3 5 4 12 5 8 7 12 7 7 3 75 Attendance 1,950 1,950 1,387 4,030 4,798 5,467 3,739 4,435 7,747 4,841 11,727 1,614 53,685 TICKETING - - - - - - - - - Gross Ticket Sales 9,450 9,450 2,996 41,165 131,125 157,715 9,161 71,865 170,316 111,775 70,323 11,894 797,235 Sales Tax (618) (618) (196) (403) (6,232) (7,204) (599) (2,412) (8,461) (4,136) (2,331) (778) (33,989) Tenant Receipts (8,832) (8,832) (2,800) (40,762) (108,957) (144,451) (8,562) (65,468) (161,855) (76,565) (67,991) (11,116) (706,189) DIRECT EVENT INCOME - - - - - - - - Rental Income 2,010 2,010 3,450 3,200 10,765 3,800 10,225 7,090 20,265 5,570 8,445 2,050 78,880 Reimbursed Expenses 1,699 1,699 4,907 5,385 17,865 19,864 10,848 13,261 33,426 18,822 14,893 4,756 147,425 Actual Expenses (981) (981) (3,071) (3,954) (20,935) (14,692) (7,023) (13,025) (31,952) (43,291) (12,073) (4,584) (156,562) Total Direct Event Income 2,728 2,728 5,286 4,631 23,631 15,032 14,050 11,311 21,739 12,176 11,265 2,222 126,800 ANCILLARY INCOME Suite Ticket Sales - - - Club Seat Ticket Sales - _ - - _ - - - Food & Beverage 693 733 869 3,421 15,491 8,662 6,901 5,371 14,163 8,299 1,540 1,860 68,002 Novelties - - 2,548 1,848 - - 180 351 - 272 5,198 Ticketmaster Rebate 96 98 9 100 673 776 24 256 1,313 505 258 154 4,262 Gross Facility Fee 1,050 1,050 214 1,685 6,182 5,350 899 3,435 6,372 4,791 5,327 836 37,191 Premium Seating Upcharge - - - - - - - Parking - - - - TOTAL ANCILLARY TOTAL EVENT INCOME 1,841 1,881 1,091 5,206 24,893 16,636 7,823 9,062 22,028 13,946 7,125 3,122 114,653 4,569 4,609 6,377 9,837 48,524 31,668 21,873 20,373 43,767 26,121 18,390 5,344 241,453 An SMG Managed Facility 3 Advertising TicketMaster Rebates Facility Fee Interest Income Ice Rentals Other Income Miscellaneous Income SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OTHER INCOME Budgets 2012 3,650 2011 6,250 Difference (2,600) 52 76 (24) 35 470 (435) 250 1,000 (750) Total Other Income 3,987 7,796 (3,809) An SMG Managed Facility 4 Executive Finance Mktg Box Office F &B Events Ops Overhead Other Expenses Totals 2011 Budget Difference 2010 Actuals Difference 176,137 83,136 22,747 73,140 41,879 138,505 224,589 - 760,133 758,174 1,959 801,992 (41,859) 176,137 83,136 22,747 73,140 41,879 138,505 224,589 - 760,133 758,174 1,959 801,992 1 (41,859)1 7,680 - - - 19,473 27,153 29,558 (2,405) 35,408 (8,255) - - 150 - - 750 900 1,150 (250) 1,600 (700) 1,299 1,500 1,737 - 99 630 - 5,265 4,000 1,265 4,900 365 - 600 - - 800 3,000 4,400 7,140 (2,740) 1,504 2,896 610 340 1,361 155 50 - 2,516 2,566 (50) 2,455 61 - 150 500 150 500 1,477 5,922 8,699 11,392 (2,693) 9,433 (734) - - - 120 1,000 - 800 1,920 3,485 (1,565) 9,200 (7,280) - - 800 - 800 375 1,975 2,650 (675) 850 1,125 - - 11,112 - 600 900 12,612 7,250 5,362 5,052 7,560 8,001 8,001 8,386 (385) 8,117 (116) 2,529 - - 2,529 2,144 385 300 2,229 400 400 - 400 400 - - - - - 6,000 6,000 6,000 - 5,820 180 1,000 1,000 1,000 - - 1,000 100 900 1,000 500 500 480 520 500 550 1,050 1,045 5 1,400 (350) - - - - 2,000 5,000 6,989 - 13,989 11.616 2,373 13,450 539 200 - 200 - 400 1,100 (700) 300 100 - - - 300 200 6,500 7,000 11,755 (4,755) 2 220,805 (13,805) - - - - 4,660 4,660 7,000 (2,340) 5,750 (1,090) 1,200 - - - 15,600 16,800 16,700 100 16,641 159 564 - 564 540 24 504 60 - - - - - 23,800 23,800 37,450 (13,650) 32,985 (9,185) 2,280 2,000 4,280 4,730 (450) 2,230 2,050 - - - - - 162,840 162,840 156,423 6,417 256,666 (93,826) - - - - 500 - 5,550 6,050 948 5,102 - 6,050 300 300 193 107 147 153 2,500 2,000 4,500 2,500 2,000 2,613 1,887 - - - - - 925 925 963 (38) 715 210 - - 100 - 500 - 5,295 - 5,895 - 5,895 14,980 (9,085) (5,454) (16,585) (65,082) (44,113) (131,235) (149,874) 18,639 (210,487) 79,252 - - - - - 89,090 89,090 87,515 1,575 85,968 3,122 3,673 1.990 23,440 3,652 (8,157) (53,405) (17,598) 252,595 89,090 295,280 277.825 17,455 329,786 (34,506) 179,810 85,126 46,187 76,792 33,722 85,100 206,991 252,595 89,090 1,055,413 1,035,999 19,414 1,131,778 76,365) Salaries & Benefits Net Labor Costs Contracted Cleaning Other Contracted Services Contracted Lawn Service Travel Meetings & Conferences Employee Training Dues & Subscriptions Misc Expense Computer Expenses Professional Fees Printing & Photography Marketing & Advertising Box Office Expense Resource Materials Small equipment Vehicle Maintenance Architect Design Fees Trash Removal Landscaping Snow Removal Exterminating Cleaning Safety Equipment Repairs & Maintenance Uniforms Supplies Bad Debt Expense Office Supplies & Postage Telephone/Long Distance Parking Expense Parking Expense Food & Beverage Overhead Community Relations Insurance Licenses & Fees Utilities Equipment Rental Audio Visual Bulbs & Lamps Bank Service Charges FF &E Expense Labor Allocation Management Fee Relocation Expense Net Materials & Services Total Indirect Expenses SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 INDIRECT EXPENSE SUMMARY An SMG Managed Facility 5 Salaries & Benefits: SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 EXECUTIVE DEPARTMENT Other Expenses: Miscellaneous Expense Meetings & Conferences 1,299 Dues & Subscriptions 610 Telephone 1,200 FF &E - Parking 564 Total Executive Department 179,810 Budgets 2012 2011 Difference 176,137 169,220 196 200 (200) 1,200 99 610 1,200 540 172,970 24 119 An SMG Managed Facility 6 ACCOUNT TITLE II ACCOUNT DESCRIPTION I ITEMIZED AMOUNTS I BUDGET SALARIES & BENEFITS 176,137 176,137 PARKING EXPENSE 564 564 MISCELLANEOUS EXPENSE - MEETINGS & CONFERENCES GM Meeting 1,200 National Meetings - Excell Training 99 1,299 DUES & SUBSCRIPTIONS IAAM Annual Dues 410 Rotary 200 610 TELEPHONE Cell Phones 1,200 1,200 FF &E (TOTAL EXECUTIVE 179,810 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 EXECUTIVE DEPARTMENT An SMG Managed Facility 7 Salaries & Benefits: Other Expenses: Miscellaneous Expense Meetings & Conferences Employee Training Dues & Subscriptions Printing FF &E Audit Fees SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 FINANCE DEPARTMENT Budgets 2012 2011 Difference 83,136 150 1,500 340 340 67,516 15,620 180 (30) 2,800 (1,300) 3,000 (3,000) Total Finance Department 85,126 73,836 11,290 An SMG Managed Facility 8 I ACCOUNT TITLE II ACCOUNT DESCRIPTION I ITEMIZED AMOUNTS II BUDGET SALARIES & BENEFITS 83,136 83,136 OTHER CONTRACTED SERVICES Garda Armoured Car - - MISCELLANEOUS EXPENSE 150 150 MEETINGS & CONFERENCES SMG HR Conference 1,500 - 1,500 EMPLOYEE TRAINING - DUES & SUBSCRIPTIONS SHRM 180 Employment Law 160 340 PRINTING FF &E ANNUAL AUDIT FEES TOTAL FINANCE 85,126 I SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 FINANCE DEPARTMENT An SMG Managed Facility 9 Salaries & Benefits: INTERN SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 MARKETING /SALES DEPARTMENTS Budgets 2012 2011 Difference 22,747 1,305 24,052 18,176 18,176 4,571 1,305 5,876 Other Expenses: Travel & Entertainment 150 400 (250) Meetings & Conferences 1,737 - 1,737 Dues & Subscriptions 1,361 1,361 - Printing 800 1,350 (550) Photography 900 (900) Advertising 9,112 4,350 4,762 Other Contracted Services 7,680 11,150 (3,470) Miscellaneous Expense 500 400 100 PR Activities 1,500 500 1,000 Promotions 500 500 - FF&E 100 100 Total Marketing 47,492 39,087 8,405 An SMG Managed Facility 10 ACCOUNT TITLE I ACCOUNT DESCRIPTION ITEMIZED AMOUNTS I BUDGET SALARIES & BENEFITS ADMINISTRATIVE 22,747 22,747 INTERN 1,305 1,305 TRAVEL Local Travel staff travel 150 150 MEALS & ENTERTAINMENT MEETINGS & EAMC 1,737 CONFERENCES - 1,737 Chamber Mamberships Dyersville Chamber 136 DUES & Galena Chamber 240 SUBSCRIPTIONS Dubuque Chamber 260 Polstar Subscription 725 1,361 PRINTING General 500 MARKETING RESEARCH Show Advancement Employee show and Venue Investigation 300 800 FF &E Poster Frames 100 PHOTOGRAPHY 100 General Advertising Adv. In Client Programs (DSO, HS.& Colts) 2,799 ADVERTISING Newspaper Promotional Advertising 3651NK, TH, Wedding Ads 4,964 Newspaper Advertising Employment Adv. 250 Website Advertising TH, Chamber, Facebook, Street Jaw, etc. 1,099 9,112 Website Licensing 240 OTHER CONTRACTED Website Hosting and Maintenance 340 SERVICES Website Domain 100 Mall manager 3,500 SMG Booking 3,500 7,680 MISCELLANEOUS Misc. 500 EXPENSE 500 PR ACTIVITIES Chamber Activities, Business PM, DMS, etc. 1,500 Salute to Women, Wedding Fairs 1,500 PROMOTIONS 500 500 TOTAL MARKETING 47,492 I SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 MARKETING /SALES DEPARTMENTS An SMG Managed Facility 11 Salaries & Benefits: SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 EVENTS DEPARTMENT Budgets 2012 138,505 2011 Difference 145,258 (6,753) Other Expenses: Signage - 300 (300) Miscellaneous Expense 1,177 1,985 Employee Training - - Electrical Systems 300 200 100 Uniforms 200 600 (400) Sound Equipment Maint. 1,000 1,200 (200) Rigging Maintenance 5,000 4,766 234 Other Contracted Services Safety Equipment 500 145 355 Operational Suppl;ies 200 200 FF &E - Equipment Rental 500 600 (100) Audio Visual 300 193 107 Bulbs & Lamps 2,500 500 2,000 Total Marketing 150,182 155,747 (4,757) An SMG Managed Facility 12 ACCOUNT TITLE ACCOUNT DESCRIPTION ITEMIZED AMOUNTS N BUDGET SALARIES & BENEFITS 138,505 138,505 SIGNAGE MISCELANEOUS EXPENSE Blocks, Rope, Chain Blocks, etc. Theatrical Event Miscellaneous Paint 400 77 300 400 1,177 EMPLOYEE TRAINING USITT Conference Meals & Entertainment Meetings & Conventions ELECTRICAL SYSTEMS 300 300 UNIFORMS Stage Events 100 100 200 COMPUTER SUPPLIES Remote PC - MAINTENANCE Rigging Sound Equipment 5,000 1,000 6,000 EQUIPMENT RENTAL 500 500 OTHER CONTRACTED SERVICES Police Temp Labor EMT - - SAFETY EQUIPMENT lanyards, Goggles, Unigrabs etc 500 500 OPERATIONAL SUPPLIES Carpentry - 200 200 FF &E Bike Rack Baracade CAD Program Upgrade - - AUDIO VISUAL 300 300 BULBS &LAMPS replacement iris /igniter for followspots Xenon followspot lamp 1,000 500 1,000 2,500 TOTAL MARKETING 150,182 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 EVENTS DEPARTMENT An SMG Managed Facility 13 Salaries & Benefits: SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OPERATIONS DEPARTMENT Budgets 2012 224,589 2011 Difference 230444 (5,855) Other Expenses: Travel & Entertainment Meetings & Conferences 630 - 630 Dues & Subscriptions 50 100 (50) Employee Training 800 1,500 (700) Computer Expense - 1,700 (1,700) Operating Expense 800 400 400 Miscellaneous Expense 600 880 (280) Small Equipment - Telephone Vehicle Maintenance 400 - 400 Equipment Rental Other Professional Fees Trash Removal Landscaping - Snow Removal 1,000 1,000 Exterminating - Cleaning 900 - 900 Safety Equipment 550 900 (350) Repairs & Maintenance 6,989 4,850 2,139 Supplies 8,500 12,755 (4,255) Uniforms - - - FF&E 5,295 5,295 Total Other Expenses 26,514 24,085 2,429 Total Operations Expenses 251,103 254,529 (3,426) An SMG Managed Facility 14 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OPERATIONS DEPARTMENT 1 Budgets 1 2012 2011 Difference Repairs & Maintenance Detail General Building Repairs 1,500 850 650 Electrical systems 800 400 400 HVAC Systems 600 800 (200) Machinery & Equipment 800 1,200 (400) Ice Plant Maintenance Mechanical systems Scoreboard Elevator /Escalator 325 1,000 (675) Maintenance Agreements 2,964 2,964 Seat Repairs - Telecommunications Equip Theatrical Repairs Audio Visual Repairs - - Computer Equipment Other Repairs & Maintenance 600 (600) Total Repairs & Maintenance 6,989 4,850 2,139 Supplies Detail General Building 300 300 Audio Visual Bulbs & Lamps 2,000 2,000 Carpentry - Electrical - 500 (500) Chemicals 800 2,500 (1,700) HVAC 600 1,400 (800) Janitorial 3,000 2,880 120 Fuel/Propane 500 600 (100) Doors /Chairs - Laundry 75 (75) Parts - Machinery & Equipment 600 600 Ice Plant Supplies First Aid/Safety - 200 (200) Paint 300 1,000 (700) Ice Paint Signage - Uniforms 250 500 (250) Security - Small Tools 150 200 (50) Telecommunications Supplies Theatrical Supplies Glass Supplies Plumbing - Total Supplies 8,500 12,755 (4,255) An SMG Managed Facility 15 ACCOUNT TITLE I ACCOUNT DESCRIPTION ITEMIZED AMOUNTS II BUDGET I SALARIES & BENEFITS 137,196 137, 196 BONUS See Addendum A - WAGES- TRADE Electricians - Addendum B Engineers - Addendum B - WAGES - MAINT MECHANICS Utility/Maintenance Workers - WAGES- CONCESSIONS Part Time Labor WAGES- HOUSEKEEPING Housekeeping - Addendum B 19,123 19,123 WAGES- SECURITY See Addendum B 2,647 2,647 AUTOMOBILE See Addendum A - PAYROLL TAXES See Addendum A 11,198 See Addendum B 2,036 13,235 CONTRACTED SERVICES - EMPLOYEE BENEFITS See Addendum A 51,003 See Addendum B 366 51,369 401K See Addendum A 1,018 See Addendum B - 1,018 TOTAL OPERATIONS SALARY & BENEFITS 224,589 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OPERATIONS DEPARTMENT - SALARY & BENEFITS An SMG Managed Facility 16 N ACCOUNT TITLE ACCOUNT DESCRIPTION ITEMIZED AMOUNTS BUDGET MILEAGE Misc TRAVEL & ENTERTAINMENT Misc. MEETINGS & CONFERENCES IAAM School Of Technology - Star Certified Ice Technology Program - SMG Annual Corp Meeting Slips Trips Falls, Back Injury, Bloodbome Pathogens, , 630 Academy for Venue Safety & Security - 630 DUES & SUBSCRIPTIONS IAAM OSHA Manuals Security Assn. Trade Publications Ashrae Guides Other Reference Materials 50 NFPA Guides 50 EMPLOYEE TRAINING Apogee Workstation Training - Bigfoot Training 2 users 800 800 COMPUTER MAINTENANCE - OPERATING SUPPLIES Misc 800 800 MISCELLANEOUS EXPENSE Misc 600 Event 600 FURNITURE/SMALL EQUIPMENT Misc - - TELEPHONES Cell Phones VEHICLE MAINTENANCE Forklift Maint 200 Bobcat Maint. 200 Misc 400 EQUIPMENT RENTAL Misc 200 OTHER PROFESSIONAL FEES Misc LANDSCAPING Interior Exterior SNOW REMOVAL In -House Sub Contractor Salt Supplies 1,000 Other 1,000 CLEANING Window Cleaning 900 900 SAFETY EQUIPMENT Fire Extinguisher Inspection 550 550 REPAIRS & MAINTENANCE Per Attached Schedule 6,989 6,989 SUPPLIES Per Attached Schedule 8,500 8,500 FF &E Main Circulating Pump 3,200 Bobcat Tires - Bobcat Bucket 1,200 Zum Flush Valves - Web Based Bigfoot 2 Users 800 Requester Login 2 users 95 5,295 (TOTAL OPERATIONS OTHER EXPENSES 26,514 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OPERATIONS OTHER EXPENSES An SMG Managed Facility 17 ACCOUNT TITLE ACCOUNT DESCRIPTION ITEMIZED AMOUNTS BUDGET GENERAL BUILDING REPAIRS Door Repairs - Fire Extinguishers Seat Repairs 700 Small Equipment - Equipment Rental Misc 800 1,500 ELECTRICAL SYSTEMS Changes to system not covered under warranty Simplex security controls 800 800 HVAC SYSTEMS Non - Covered Expenses 600 600 MACHINERY & EQUIPMENT Cleaning Equipment Genie Lift 500 Pumps, actuaters & valve repair Fire Suppression 300 Other 800 MECHANICAL SYSTEMS Lifting systems and riser hydraulics Building Hydraulics (Misc seals & hoses) SCOREBOARD Misc ELEVATOR / ESCALATOR Misc (Non - covered under maint. Agreement) 325 325 MAINTENANCE AGREEMENTS Controls Elevators & escalators (Kone) 1,758 Generators 687 RENO - Life Safety & Fire Control (Simplex) 520 Lighting control equipment Misc 2,964 SEAT REPAIRS Railings Permanent seating Folding chairs - TELECOMMUNICATIONS EQUIPMENT Misc - OFFICE EQUIPMENT REPAIRS Misc. THEATRICAL REPAIRS Misc AUDIO VISUAL REPAIRS Misc MECHANICAL SOFTWARE Misc OTHER REPAIRS & MAINTENANCE Marquee - Other. - TOTAL REPAIR & MAINTENANCE 6,989 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OPERATIONS - REPAIRS & MAINTENANCE An SMG Managed Facility 18 ACCOUNT TITLE ACCOUNT DESCRIPTION ITEMIZED AMOUNTS BUDGET GENERAL BUILDING SUPPLIES Misc. 300 300 A/V SUPPLIES A/V Supplies - BULBS & LAMPS Ballasts Bulbs & lamps 2,000 2,000 CARPENTRY Dry Wall Supplies Stock wood Misc - ELECTRICAL Bulk wire, cable connectors, etc. Misc - CHEMICALS Chemical Cleaning Products 800 800 HVAC Filters - 4 changes per year Stock bearings & belts Misc. 600 600 JANITORIAL Miscellaneous Janitorial Paper products & Cleaning supplies 2,000 Liners 1,000 3,000 FUEL /PROPANE Fuel 500 500 DOOR/CHAIRS Door & Chair Suuplies LAUNDRY Laundry supplies PARTS - MACHINERY & EQUIPMENT Misc. 600 600 FIRST AID /SAFETY Misc PAINT Misc. Supplies 300 300 SIGNAGE Misc. UNIFORMS Replacement - Event Staff& Ticket office Replacement - Maintenance & Engineering 250 250 SECURITY Misc SMALL TOOLS Replacement of tools 150 150 TELECOMMUNICATIONS Telecommunication Supp. GLASS Glass Supllies PLUMBING Misc. TOTAL SUPPLIES 8,500 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OPERATIONS - SUPPLIES An SMG Managed Facility 19 Salaries & Benefits: Other Expenses: Meetings & Conferences Miscellaneous Expense Dues & Subscriptions Printing Uniforms Training FF &E TicketMaster Fee Credit Card Charges Total Box Office SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 BOX OFFICE DEPARTMENT 1 Budgets 1 2012 2011 Difference 73,140 150 150 155 155 200 200 600 540 8,001 82,246 71,352 1,788 60 8,386 (385) 80,783 1,463 An SMG Managed Facility 20 ACCOUNT TITLE ACCOUNT DESCRIPTION I ITEMIZED AMOUNTS II BUDGET SALARIES & BENEFITS 73,140 73,140 MEETINGS & CONFERENCES INTIX - ARMORED CAR SERVICE included in overhead exp - - DUES & SUBSCRIPTIONS INTIX 100 Jaycees 55 155 PRINTING Ticket Stock - UNIFORMS 200 200 TRAINING COMPUTER SUPPLIES POSTAGE 600 600 FF &E TICKETMASTER FEE CREDIT CARD CHARGES TERMINAL CHARGES 7,500 501 8,001 MISCELLANEOUS EXPENSE 150 150 TOTAL BOX OFFICE 82,246 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 BOX OFFICE DEPARTMENT An SMG Managed Facility 21 Salaries & Benefits: Other Expenses: Kitchen Supplies Meetings & Conferences Computer Expense Kitchen Equipment Maintenance Licenses & Fees Uniforms Employee Training Other Contracted Services FF &E Miscellaneous Supplies Laundry Wireless Terminals Total F &B SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 FOOD & BEVERAGE DEPARTMENT 1 Budgets 2012 2011 Difference 41,879 56,208 (14,329) 300 1,000 (700) 99 99 120 2,000 2,000 2,280 2,230 50 300 (300) - 600 (600) 500 500 500 1,125 (625) 100 500 (400) 2,529 2,144 385 50,307 66,107 (15,920) An SMG Managed Facility 22 ACCOUNT TITLE I ACCOUNT DESCRIPTION II ITEMIZED AMOUNTS I BUDGET SALARIES & BENEFITS 41,879 41,879 MEETINGS & CONFERENCES Excell Training 99 99 Computer Expense Gotomypc 120 120 WIRELESS TERMINAL LAUNDRY KITCHEN SUPPLIES MISCELLANEOUS SUPPLIES Equipment Replacement 2,529 100 300 500 3,429 KITCHEN EQUIPMENT MAINTENANCE MAINTENANCE Maintenance Inspections 1,750 250 2,000 UNIFORMS EMPLOYEE TRAINING LICENSES & FEES 2,280 2,280 OTHER CONTRACTED SERVICES Labor - - FF &E Safe 500 - 500 'TOTAL F &B 50,307 I SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 FOOD & BEVERAGE DEPARTMENT An SMG Managed Facility 23 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OVERHEAD DEPARTMENT 1 Budgets 2012 2011 Difference Other Contracted Expenses 19,473 18408 1,065 Bank Service Charges 925 963 (38) Computer Expense 800 585 215 Equipment Rental 5,550 348 5,202 Insurance 23,800 37,450 (13,650) Licenses & Fees 2,000 2,500 (500) Corporate Travel 750 750 Relocation Expense - - Dues & Subscriptions Misc Expense 5,922 6,852 (930) Professional Fees - - Printing & Stationary 375 - 375 Advertising 900 1,020 (120) Small Equipment - Office Supplies 4,000 4,700 (700) Postage 660 2,300 (1,640) Telephone /Long Distance 15,600 15,500 100 Training 3,000 1,500 1,500 Promoter Incentives Electricity 111,000 97,413 13,587 Heating Fuel 51,000 58,300 (7,300) Water & Sewage 840 710 130 Waste Removal 6,000 6,000 - Total Overhead 252,595 255,299 (2,704) An SMG Managed Facility 24 ACCOUNT TITLE I ACCOUNT DESCRIPTION ITEMIZED AMOUNTS BUDGET OTHER CONTRACTED EXPENSES Contract Administrator Wages Other Expenses 19,473 19.473 BANK SERVICE CHARGES 925 925 COMPUTER EXPENSE Computer Doctors Misc 800 800 EQUIPMENT RENTAL Office Equipment/Postage Meter /Misc Copier Forklift 300 5.250 5.550 INSURANCE SMG Policies 11,000 1,900 1,000 900 9,000 23,800 Commercial General Lsabditâ–  Professional Liability Boiler Surily Bond Workers Comp (Event Labor) Property & Other F &B Liability Insurance LICENSES & FEES Ascap BMI 950 1,050 2.000 CORPORATE TRAVEL Corporate Travel 750 750 MAINTENANCE AGREEMENTS DUES & SUBSCRIPTIONS Misc MISC EXPENSE Employee Party Armored Car Water Payroll Processing Cheeks 900 390 4,242 390 5,922 PROFESSIONAL FEES Legal - Litigation Annual Audit PRINTING & STATIONARY Other general needs Leisure Services Program 375 375 EXTERMINATING 900 900 SMALL EQUIPMENT Misc. OFFICE SUPPLIES Office Supplies Postage / Shipping 4,000 660 4.660 TRAINING Customer Sees ice 3,000 3.000 TELEPHONE/ LONG DISTANCE Local/Long Distance 15,600 15.600 ELECTRICITY 1 1 1,000 111.000 HEATING FUEL (Oil /Gas /Steam) 51.000 51.000 WATER & SEWAGE 840 840 WASTE REMOVAL 6.000 6.000 TOTAL OVERHEAD 252.595 SMG FIVE FLAGS CENTER BUDGET - EYE 6/30/2012 OVERHEAD DEPARTMENT An SMG Managed Facility 25 Rent Management Fee FF &E Expenses Taxes SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OTHER EXPENSES Budgets 2012 2011 Difference â–  89,090 Total Other Expenses 89,090 87,515 1,575 87,515 1,575 An SMG Managed Facility 26 I ACCOUNT TITLE I ACCOUNT DESCRIPTION I ITEMIZED AMOUNTS II BUDGET RENT MANAGEMENT FEE Fixed Fee CPI Percentage Increase per Management Agreement 89,090 89,090 FF &E EXPENSES TAXES INTEREST EXPENSE TOTAL OTHER EXPENSES 89,090 SMG FIVE FLAGS CENTER BUDGET - FYE 6/30/2012 OTHER EXPENSES An SMG Managed Facility 27 Five Flags Center Addendum C Arena Iowa EVENT SUMMARY Eastern IA Jim City Broadway Family City Games H.S. Concert "A" Concert "B" Feld Outlaws Concert "C" McDonough Meetings Show Shows Events Soccer Rodeo Graduation Soccer 'Number of Events 1 1 1 7 1 1 9 1 1 2 1 2 1 3 Attendance 1,175 2,317 1,300 4,795 1,000 1,100 1,800 500 2,200 6,400 300 TICKETING Gross Ticket Sales 39,300 72,050 26,650 43,155 33,250 31,900 - 81,000 45,050 - 35,650 Sales Tax (2,571) (4,714) (1,743) (2,823) (2,175) (2,087) - (5,299) (2,947) - (2,332) Tenant Receipts (33,423) (61,276) (20,921) (40,332) - (29,813) - (75,701) (29,472) - - (33,318) DIRECT EVENT INCOME Rental Income - - - 7,350 700 5,000 - 1,200 2,400 3,150 9,600 Reimbursed Expenses 6,150 10,100 8,575 7,749 3,600 - 13,496 - 5,200 3,500 7,000 4,100 - Actual Expenses (5,000) (9,150) (9,300) (5,740) (29,665) (2,050) - (12,265) (8,000) (3,600) (3,700) (7,580) (4,056) (894) Total Direct Event Income 4,456 7,010 3,260 9,359 1,410 2,250 - 6,231 4,631 1,600 1,000 1,820 3,194 8,706 ANCILLARY INCOME Suite Ticket Sales - - Club Seat Ticket Sales - - - - - - - - - - - Concessions/Catering 5,273 4,678 1,704 22,709 1,643 528 353 1,123 3,584 1,422 320 7,502 Novelties 588 1,738 - 250 110 - 180 1,960 - - - Ticket Rebates 96 424 156 105 320 53 1,000 477 186 Facility Fee 1,200 2,200 1,300 4,795 950 1,100 1,800 2,650 1,550 Premium Seating Upcharge - - - - - - - - - - Parking - - - - TOTAL ANCILLARY 252 7,156 9,039 3,160 27,609 3,163 1,791 353 4,103 8,671 1,422 320 9,238 252 TOTAL EVENT INCOME 11,612 16,050 6,420 36,968 4,573 4,041 353 10,334 13,302 3,022 1,320 11,058 3,194 8,958 NET INCOME (Per Event) 11,612 16,050 6,420 5,281 4,573 4,041 39 10,334 13,302 1,511 1,320 5,529 3,194 2,986 An SMG Managed Facility 28 Five Flags Center Addendum C EVENT SUMMARY Prudential Colts Drum & Slim Vets Rising Star IBM Xtreme Big Boy Studio Iowa School Meetings Bugle Corps Goodbody Convention Wedding GMETC Productions Interviews Dance DSO Toy Show 5 -6 -7 -B Recycling Musicals (Number of Events 2 3 1 1 1 1 2 3 1 5 1 1 1 1 Attendance 1,050 200 600 1,033 200 450 2,100 120 575 5,000 2,100 2,590 - 1,356 TICKETING - - Gross Ticket Sales 4,050 18,900 - 5,598 175,000 - 25,900 13,560 Sales Tax - - (265) (1,236) - (366) - - (1,694) - - Tenant Receipts - (3,785) (17,664) - (5,232) (175,000) (24,206) - (13,560) DIRECT EVENT INCOME - - - - Rental Income 1,400 3,600 550 2,450 550 790 2,820 900 850 7,250 3,275 1,930 3,600 3,070 Reimbursed Expenses 2,170 450 455 3,903 275 193 2,426 - 1,406 14,500 5,241 3,870 3,068 4,359 Actual Expenses (1,726) (450) (480) (2,470) (350) (244) (1,386) - (1,194) (10,375) (1,555) (3,007) (2,250) (2,956) Total Direct Event Income 1,844 3,600 525 3,883 475 739 3,860 900 1,062 11,375 6,961 2,793 4,418 4,473 409 761 - 961 205 184 435 3,145 1,343 803 - 196 145 425 - 221 85 600 450 2,100 - 622 5,000 2,590 - 1,356 ANCILLARY INCOME Suite Ticket Sales Club Seat Ticket Sales Concessions /Catering Novelties Ticket Rebates Facility Fee Premium Seating Upcharge Parking TOTAL ANCILLARY 409 600 761 450 3,257 205 951 5,860 3,145 4,154 2,244 TOTAL EVENT INCOME 2,253 3,600 1,125 4,644 475 1,189 7,117 1,105 2,013 17,235 10,106 6,947 4,418 6,717 NET INCOME (Per Event) 1,126 1,200 1,125 4,644 475 1,189 3,558 368 2,013 3,447 10,106 6,947 4,418 6,717 An SMG Managed Facility 29 Five Flags Center Addendum C EVENT SUMMARY Dog High School Wrestling DSO DSO Youth DSO Health Night Storm AMP Monster Loras Dubuque BUDGET FBN Show Variety Show Tournament Arena Pops Arts Trek Fair Teen Dance Truck Holiday Pops Wrestling Art Theater 6/30/2012 !Number of Events 1 1 1 1 3 1 1 3 1 1 1 1 72 Attendance 500 664 825 1,750 519 2,345 100 2,700 800 1,365 1,000 214 53,043 TICKETING - - Gross Ticket Sales 5,976 3,300 34,688 13,920 23,800 47,600 4,740 3,210 788,247 Sales Tax (216) - (854) - (1,557) (310) (210) (33,401) Tenant Receipts (5,976) (3,084) (34,688) (13,066) - (22,243) (47,600) (4,430) (3,000) (697,789) DIRECT EVENT INCOME - Rental Income 3,900 650 1,200 2,100 2,145 700 700 1,800 - 2,050 1,200 - 78,880 Reimbursed Expenses 6,270 900 2,500 5,100 1,554 1,378 154 1,458 5,256 5,057 2,612 850 144,875 Actual Expenses (6,596) (850) (2,890) (3,575) (1,365) (1,059) (101) (864) (4,175) (2,672) (972) (500) (155,062) Total Direct Event Income 3,574 700 810 3,625 2,334 1,019 753 2,394 1,081 4,435 2,840 - 125,750 ANCILLARY INCOME Suite Ticket Sales - - Club Seat Ticket Sales - - - - Concessions/Catering 1,837 42 1,676 158 - 50 639 1,100 172 2,991 - 68,002 Novelties 272 - - - - 101 - 5,198 Ticket Rebates 27 28 - - 285 9 4,237 Facility Fee 500 664 1,750 519 - 800 1,365 474 214 36,549 Premium Seating Upcharge - - - - Parking TOTAL ANCILLARY 2,337 733 1,948 1,936 519 50 639 2,001 1,822 3,465 223 113,985 TOTAL EVENT INCOME 5,911 1,433 2,758 5,561 2,853 1,069 753 3,033 3,082 6,257 6,305 573 239,735 NET INCOME (Per Event) 5,911 1,433 2,758 5,561 951 1,069 753 1,011 3,082 6,257 6,305 573 An SMG Managed Facility 30