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Page 47 of 73 <br /> <br />FINANCIAL BUDGETS and OPERATING PROJECTIONS <br /> <br />The Financial Budget and Operating Projections are based on the following methodology and <br />assumptions. <br /> <br />Expenses <br /> Utility Expenses factor in a 2.5% annual increase. <br />o Actual utility costs utilize actual City utility rates and costs. <br />o Total utility costs are slightly higher than the historic rates at the former YMCA <br />reflecting escalation and increased use. <br /> Maintenance expenses factor in a 2.5% annual increase except where otherwise noted as <br />some equipment and maintenance expenses increase as warranties expire and the building <br />ages. <br /> Staffing expenses project increases of 4% per year based on cost of living and merit and <br />retention raises. <br /> Lease payments to Rec Center <br /> Budgets include all projected expenses plus a budget expense contingency. Line items <br />include: <br />o Credit Card and online registration fees (assumes 100% of all membership and <br />registration revenue processed by credit cards) <br />o Marketing, advertising, website, and IT expenses <br />o Staff training, development, and travel <br />o Outside services <br />o Staff outfitting <br />o Certifications, membership, subscriptions, dues <br />o Scholarship subsidies or financial aid for City residents unable to afford the <br />membership or program fees <br />o Insurance <br /> Annual City Administrative Allocation <br />o Rec Center share of the following <br /> Allocation to existing City staff responsibilities for Rec Center <br /> Human Resources <br /> Additional in-house administrative, clerical, and accounting services <br /> Marketing <br /> Current City maintenance and grounds keeping staff <br /> Other utilization of existing City support services and staff <br />o City Administrative Allocation is $150,000 in Year 1 <br />o Future years allocation increases by 5% annually <br /> <br />Revenue <br /> Revenue projections are supported by the back-up worksheets for Membership and Daily <br />Use included in Appendix B <br /> Swim Lesson projections are supported by the back-up worksheets in Appendix A. <br /> Revenue is also shown for the following areas: <br />o Vending machines and front desk sale kiosk <br />o All facility rentals