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Memo - Depot Deficit ADMINISTRATIVE SERVICES DEPARTMENT . MEMORANDUM To: Honorable Mayor and members of the City Council FROM: Steve Stahmer, Assistant to the City Manager CC: Steve Mielke, City Manager DATE: August 9, 2002 SUBJECT: Depot Deficit Update ThIs memo/discussion is intended to update the Council regarding the status of The Depot's current and projected operating deficit. As you recall, last year The Depot's year-end deficit was approximately $34,000. Early this year, the three funding partners - the City, Hopkins School District 270 and the Ridgedale YMCA - all agreed to share in this deficit equally, each paying for 1/3 of the shortfall. To date, we have not received payment from either the School District or the YMCA for the 2001 deficit, although we have been assured that payment will be forthcoming. The YMCA has arranged a payment schedule with Finance Director Lori Yager. The current Depot operating deficit, from January 1 through July 2002, sits at approximately $39,000. This figure includes a recently received grant/contribution of $5,000 from Reduce the Use. Depot staff has been told informally by another foundation that they should expect to receive a pending grant, amounting to $9,000 after the grant-writer's commission. While it may be likely that the Depot will receive this grant, it has not been formally awarded and should not . be considered a certainty. The Ridgedale YMCA has recently given notice to the City that the Y will not be able to fund any of this year's deficit. This leaves the City and the School District as the only potential funders (not including grants). The School District has not yet given a definitive answer as to whether they are willing/able to fund a portion of the shortfall, although it was implied earlier this year that the School District would continue as a funding partner. Given the YMCA's withdrawal as a funding partner, the City's share of the year-to-date and the total 2002 year-end deficit has increased significantly. Assuming the School District remains committed to funding the 2002 Depot shortfall, the City can expect to be responsible for $20,000 to $26,000 (1/2 to 2/3) of the current deficit If the School District were to withdraw as a funding partner as the YMCA has done, the City would be forced to fund the entire 2002 deficit. A large number of grant requests are outstanding at this tIme, which total several hundred thousand dollars. This figure includes one large, multi-year grant from the Minnesota Department of Human ServIces (DHS) for nearly $400,000 over four years. Staff has no indication as to the likelihood of receiving this grant for 2002. As indicated above, Depot staff has been told informally by a different foundation that they should receive another pending grant, amounting to $9,000 after the grant-writer's commission. While it may be likely that the Depot will receive this grant, it has not been formally awarded and should not be considered a certainty. It is appropriate to point out that the Depot has only been working with the grant- writer, Lisa Brodsky, for a short period of time. It is the opinion of staff that the quality of the grant applications and correspondence with grant-making foundations has improved . significantly with the addition of the grant-writer. . The current 2002 deficit (through July) of $39,000 points to a likely year-end deficit of between $55,000 and $70,000. Both the current deficit and the year-end projection are greatly influenced by grants received and the possibility of future grants. Through July, the Depot has received approximately $17,000 in grants and contributions, greatly lowering the current deficit. The current deficit could be much larger if no grants/contributions had been received. Assuming a similar amount of grants were to be received over the last 5 months of the year, and the ratio of operating expenses to operating revenues were to remain constant, the total shortfall could be estimated at approximately $55,000. It is assumed that this figure presents a best-case scenario unless additional grants are received. It is possible that sufficient grants could be received which would partially or entirely cover the operational deficit. However, there is no way of knowing whether or not additional grants will be received in the future. Many of the outstanding grants, including the large DHS grant, are scheduled to be awarded in November or December. So the true "best-case scenario" would be if The Depot received full grant funding between now and the end of the year, bringing the 2002 operating deficit to $0. As a worst case scenario, it is possible that The Depot would receive no grant funding between now and the end of the year (not even an amount proportional to the grant funding received in the first seven months of 2002). Under this scenario, a final year-end deficit could amount to $60,000 to $70,000.ln general, coffee shop sales tend to drop in the fall and early winter months. The Depot generally decreases its hours of operation during these less productive months. Expenditures (including both coffee shop and teen center expenses) from January 1, 2002 through July 2002 are shown on the attached cash flow summary statement. Along with . concession supplies (Supplies), Personnel Services and Contracted Services are the largest expenditures. Personnel Services include the salary of the Depot Coffee Shop Manager and part-time counter personnel. Contracted Services consist largely, although not entirely, of the Teen Center Director's salary. The Teen Center Director position consists of a YMCA employee contracted to The Depot. The reasons for the continued, and possibly growing, shortfall are still being examined. For 2001, the deficit was at $24,000 through the end of July 2001. While concession revenues through July 2002 are very similar to those of the same period in 2001, salaries and supply costs have increased. The Depot was also compelled to purchase a new (actually used/reconditioned) espresso machine when the old machine broke down for the final time. The cost of the machine, including installation, amounted to approximately $4,800. In addition, The Depot received approximately $35,000 in grants and contributions in 2001 (for the entire year). Through July 2002, approximately $17,000 in grants and contributions have been received for 2002 operations. 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III 0 ctI ~ :;:l W t: ~ ~ lJ) 0 cti~ ~ LL ~ m 00 lJ) ~ ~ ~m _g - ~-a ~ LL 0 m lJ) U) 0 m lllU roctl 00 -alJ) lJ) o lJ) I- 0 -a lJ) ~ lilt: co- lJ) c~ D.. . 0 c ~ -~ lJ) c.a ~U .!!! -a coctl E:;:l ~ x ctI ~ II) t5 ct;l "0 ~ c .-.... 00 lJ) I- ~ 'ffi!: ~ ~ ~ Q5!: ~ Ul :;:l -a E ~ .~ ~ o ~ 0 0 m ~ ~ OJ 0 m _ "0 LL C 0.- ct;l ~ -00 > _ Q5 ccoo ~ ~_~:;:l 0 ~oo - W III ~ .- III .- 00 0 .- .-)( III"~' LL ~ '" 00 ctI C ~ oo~E a: ~ ~~U~~ w mf ~Ol ~ ~Q 00 r III E~m ~ III ~li~lJ)m ~ m ~~ 0 c~ t5 o > ct;lC..c - ~ ~D..O>..c - uS -a-a lJ) lJ)..c lJ) o m ~o- 0 )( lJ):;:lt.)-ao~ 0 !: :;:le ..c..c- ~ N a: 000 ~ w n..U)~~ I- _ ctlW I- I-~ 0 2002 TOTAL DEPOT SUMMARY - unaudied Jan Feb Mar Apr May June July August Sept Revenues Grants Concessions 4,712 7,852 6,666 8,735 9,851 11 ,485 10,591 Contributions 106 400 610 10,000 854 Other miscellaneous 720 400 420 0 945 315 775 Interest Earnings Total Revenue 5,538 8,252 7,486 9,345 10,796 21,800 12,220 0 - Expenditures Personnel Services 6,266 6,014 5,263 6,641 6,065 7,662 7,031 Supplies 2,360 3,749 4,274 5,389 5,731 3,878 5,607 Utilities 485 654 936 692 1,055 715 830 Contracted Services 3,855 5,085 4,123 4,755 4,394 4,313 4,684 Other Miscellaneous 48 370 360 786 289 355 295 Equipment 4,793 Total Expenditures 13,014 15,872 14,956 18,262 22,327 16,922 18,446 0 Increase/(Decrease to Fund Balance (7,476) (7,620) (7,470) (8,917) (11,531) 4,878 (6,226) 0 Beg Fund Bal 1,127 (6,349) (13,969) (21,439) (30,356) (41,887) (37,009) (43,236) (43,23: Ending Fund Balance (6,349) (13,969) (21,439) (30,356) (41,887) (37,009) (43,236) (43,236) (43,2:3( 2001 HOPKINS DEPOT SUMMARY - (unaudied) Revenues Jan Feb Mar Apr May June July August Sept Grants 10,000 Concessions 7,770 6,860 8,518 7,499 9,288 10,842 9,691 10,227 9 ,4F1~ Contributions 4 1,710 350 1,481 Other miscellaneous 481 844 1,250 920 400 1,345 815 1 ,425 1 ,.lAL ,t:."'t:_ Interest Earnings Total Revenue Coffee 8,251 7,704 9,772 18,419 9,688 13,897 1 0,506 12,002 12,2u I Expenditures Personnel Services 5,238 5,313 5,793 6,668 5,282 6,619 6,169 6,081 5,631 Supplies 1,964 3,619 4,441 3,487 4,095 4,758 4,459 5,434 4,92 Utilities 523 1,058 1,046 985 737 407 841 766 871 Contracted Services 3,600 3,825 3,698 3,649 4,298 4,533 4,049 4,402 4;26: Other Miscellaneous 102 547 102 102 200 102 204 563 43: Total Expenditures Coffe 11,427 14,362 15,080 14,891 14,612 16,419 15,722 17,245 16,.; Increase/(Decrease to Fund Balance (3,176) (6,658) (5,308) 3,528 (4,924) (2,522) (5,216) (5,243) (3,92 audit Beg Fund Bal 3,067 {109) (6,767) (12,075) (8,547) (13,471 ) (15,993) (21,209) (26,45: Ending Fund Balance (109) (6,767) (12,075) (8,547) (13,471 ) (15,993) (21,209) (26,453) (30,37 The City continues to carry a negative cash balance for the Depot and Teen Center programs. The Year end shortfall is ($33 The negative fund balance is at $34,433, which excludes the $750 donation designated for revenue generating ideas. If this loss is shared by all three partners, each partner would pay $11 ,480 Direct salary expenditures are down $9,587 due to allocation of 32% of Depot manager to Skate Park. 2001 DEPOT COFFEE HOUSE OPERATIONS SUMMARY - (unaudied) Revenues Jan Feb Mar Apr May June July August Sept Grants Concessions 7,770 6,860 8,518 7,499 9,288 10,842 9,691 10,227 9,48;; Contributions 4 8ft Other miscellaneous 481 844 11 820 400 1,345 815 925 1,24t Interest Earnings Total Revenue Coffee 8,251 7,704 8,533 8,319 9,688 12,187 10,506 11 ,152 11,6..; Expenditures Personnel Services 3,838 3,913 4,393 5,268 3,882 5,149 4,769 4,681 4,2::i1 Supplies 1,964 3,619 4,441 3,487 4,095 4,758 4,157 5,297 4,92'1 Utilities 523 1,058 1,046 985 737 407 841 766 871 Contracted Services 0 225 98 49 698 933 449 602 46:~ Other Miscellaneous 102 547 102 102 200 102 132 563 43:~ Total Expenditures Coffe 6,427 9,362 10,080 9,891 9,612 11,349 10,348 11,908 1 n,;'; ~ Increase/(Decrease to Fund Balance 1,824 (1,658) (1,547) (1,572) 76 838 158 (756) 67 audit Beg Fund Bal 831 2,655 997 (550) (2,122) (2,046) (1,208) (1,050) (1,801 Ending Fund Balance 2,655 997 (550) (2,122) (2,046) (1,208) (1,050) (1,807) (1 , 1:3:~ Concession revenues are $12,000 less than in the year 2000. A portion of Kathleens salary and benefits are reflected in the Teen Center program and the Hopkins Skate Park. (32% each) Total Depot Coffee House expenditures are also down from last year by $14,000. Less Salary and supply costs. 2001 DEPOT COFFEE HOUSE TEEN CENTER SUMMARY (unaudited) Revenues Jan Feb Mar Apr May June July August Sept Grants 10,000 Contributions 0 0 1,710 0 350 60, Other miscellaneous 1,239 100 500 Total Revenue Teen 0 0 1,239 1 0,1 00 0 1,710 0 850 .~-.-.. Expenditures Personnel Services 1 ,400 1 ,400 1 ,400 1 ,400 1 ,400 1 ,400 1 ,400 1 ,400 1 AO! Supplies 302 137 Accr. Contracted Servo 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,800 3.801 Advertising Other Miscellaneous 72 0 Total Expendtures Teen 5,000 5,000 5,000 5,000 5,000 5,000 5,374 5,337 5,~0 Increase/(Decrease to Fund Balance (5,000) (5,000) (3,761 ) 5,100 (5,000) (3,290) (5,374) (4,487) (4 ;-;,:;. \ -.,-- audit Beg Fund Bal 2,236 (2,764) (7,764) (11,525) (6,425) (11,425) (14,715) (20,089) (24,5/; Ending Fund Balance (2,764) (7,764) (11,525) (6,425) (11,425) (14,715) (20,089) (24,576) (29,17 The City continues to carry a negative cash balance for the Depot and Teen Center programs. The Year end shortfall is ($33 The negative fund balance is at $34,433, which excludes the $750 donation designated for revenue generating ideas. If this loss is shared by all three partners, each partner would pay $11 ,780 Direct salary expenditures are down $9,587 due to allocation of 32% of Depot manager to Skate Park.