Council Minutes - Town of Cambridge

COUNCIL MINUTESTUESDAY 26 JUNE 2012Graph 1:Bold Park Aquatic CentreFinancial Performance- 2001/2002$1,400,000$1,200,000$1,000,000$800,000Amount$600,000$400,000$200,000$0-$200,000-$400,0002001/2002 2002/2003 2003/2004 2004/2005 2005/2006 2006/2007 2007/2008 2008/2009 2009/2010 2010/2011 2011/2012Expenditure $739,552 $832,505 $864,512 $905,452 $930,398 $977,845 $1,027,357 $1,093,006 $1,122,949 $1,249,376 $1,200,000Revenue $648,973 $709,373 $717,388 $714,285 $762,428 $785,654 $824,814 $861,614 $891,860 $944,066 $980,993Operating Deficit -$90,549 -$123,132 -$147,124 -$191,167 -$167,970 -$192,191 -$202,543 -$231,392 -$231,089 -$305,310 -$219,007*Excludes Depreciation and Overhead AllocationRevenueRevenue has increased from approximately $650,000 in 2001/2002 to a projected figure in2011/2012 of $981,000 (51% increase over 10 years). The increase can be attributed to anumber of factors including annual increases in fees and charges and an increase inprogramming (in-house coaching, Living Longer/Living Stronger Swim Academy and BodyHarmonics).ExpenditureExpenditure has increased from $740,000 to approximately $1,200,000 (62% increase over10 years) - Note: Depreciation and cost allocations have not been included in the expenditure.A number of factors contributed to this including increases in operating costs (power, water,chemicals and labour), increased maintenance due to the ageing infrastructure and salaryincreases.Net Operating CostThe net operating cost has increased from a deficit of approximately $91,000 to approximately$219,000. The increase in the operating deficit is getting more difficult with the age andcondition of the pool.2. Illustration of Competitive Fees and ChargesTable 1 below provides a competitor analysis from other Aquatic Centres within theregion/metropolitan area for entry to the pool. Where no figure appears, the category ofentrance should be regarded as not existing within that particular centre’s schedule. TheH:\CEO\GOV\COUNCIL MINUTES\12 MINUTES\JUNE 2012\C CR.DOCX 99