Minnesota Sports Facilities Authority

Transcription

1 Minnesota Sports Facilities Authority Tentative Agenda Friday, August 24, :00 a.m. Hubert H. Humphrey Metrodome Halsey Hall Room 900 South Fifth Street, Minneapolis, MN CALL TO ORDER 2. ROLL CALL 3. ADOPTION OF AGENDA 4. APPROVAL OF AUTHORITY MEETING MINUTES: Regular Meeting, August 3, CHAIR S REPORT 6. BUSINESS a. Staff Reports i. Building Systems and Operations Review ii. Financial Report 6/30/12 7. PUBLIC COMMENTS 8. DISCUSSION a. Project Labor Agreement Plans b. Other 9. ANNOUNCE FUTURE MEETINGS a. Friday, August 24, 2012 at 10:30am Tour of Target Field b. Friday, August 24, 2012 at 11:45am Tour of Target Center c. Friday, August 24, 2012 at 2:00pm Tour of TCF Stadium d. Thursday, September 6, 2012 at 5:00pm Architect Finalist Meeting e. Friday, September 14, 2012 at 9:00am Regular Board Meeting 10. ADJOURNMENT 1

2 Building Systems and Operations Review August 24,

3 2012 /Repairs/ Replacements/Capital Improvements Primary Maintenance Sub-Contractors Vikings Revenues and Expenses Non-Vikings Event Information 3

4 2012 Repairs/Replacements/Capital Improvements Minnesota Vikings Elevator Updates Cost: $161,000 Completed: August 2012 Updates were required by code Elevator is used by players, owners and staff 4

5 2012 Repairs/Replacements/Capital Improvements Replacement of East and West Auxiliary Scoreboards Cost: $275,805 Completed: July 2012 Parts to repair were unavailable. Components were salvaged for use on remaining auxiliary scoreboards. 5

6 Cleaning Services ABM is the primary and Northland Temporary Services is their sub-contractor Provide stadium cleaning and trash removal services Approximate annual cost: $750,000 6

7 Electrical Maintenance Hunt Electric Miscellaneous electrical repairs for the stadium Power hook up for event TV trucks Approximate annual cost: $145,000 7

8 General Contracting Maertens Brenny Construction Miscellaneous repairs to stadium and site Approximate annual cost: $480,000 8

9 Painting Contractor Atlas Construction & Environmental Painting and wall covering repairs to stadium Approximate annual cost: $120,000 Targeted Group Business 9

10 Electronic Design Audio operations and maintenance AVI Video maintenance George s Cleaning Services Field playing surface paint removal MVP Snow removal detail work Ceres Environmental Primary Snow Removal 10

11 Vikings 2011 Season Pre-season 2 games Regular season 8 games, final game played on January 1, 2012 and recorded in 2012 Tickets sold and comp tickets: 626,477 Attendance: 552,304 Vikings 2012 Season Pre-season 2 games Regular season 8 games 11

12 Concessions Sales $6,599,427 Plaza Concession Sales $ 312,764 Admission Tax (10%) $4,049,324 Rent (9.5%) $3,825,431 Rent private Suites $ 400,000 Charges for Services $ 985,538 Total $16,172,484 Vikings reimbursed MSFC for the following expenses arising from their events: utility expenses, property insurance, cleaning services, cleaning supplies, first aid supplies, field lights and air conditioning 12

13 Concession Costs $3,571,790 Plaza Concession Costs $ 136,664 Vikings Share of Concessions Net Receipts (15%) $ 989,061 Vikings Share of Plaza Concessions Net Profits (100%) $ 160,462 Vikings Rent Forbearance $3,825,431 Hospitality Tents and Related Expenses $ 200,000 Perimeter Security $ 175,643 Total $9,059,051 13

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15 234 Games Metrodome College Baseball Colleges from throughout the Midwest and Canada participate Augsburg, Macalester, Vermilion Community College and Winona State just to name a few Around the clock scheduling In 2012, there were cancellations due to bad weather and spring cancellations due to the good weather Rent for the sessions in 2012 was $151,000 15

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18 Community Events Hmong American New Year Minneapolis Jewish Federation Twin Cities Marathon Start Line 18

19 Girls and Boys Soccer Quarter Final Football Semi-Final Football Prep Bowl 3 days/16 games 2 days/ 2-4 games 3 days/14 games 2 days/7 games 19

20 Events by Type Vikings Games, 10 Motor Sports, 3 All other Events, 60 U of M Baseball, 43 Twins Fest, 3 In-Line Skating/Running, 120 Amateur baseball/ football/soccer, 130 MSHSL Events, 41 College sporting events (ex. U of M),

21 Non-Vikings 2011 Event Revenues Concessions and Catering Sales $750,000 Admission Tax (10%) $144,446 Rent $221,430 Running/In-line Skating $11,665 Total $1,127,541 Due to the roof collapse, no field events 21 were held until August in Non-Vikings revenue for 2012 is budgeted at $1,

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23 MINNESOTA SPORTS FACILITIES AUTHORITY 900 South 5th Street Minneapolis, Minnesota August 24, 2012 MEMORANDUM TO: FROM: MSFA Commissioners Ted Mondale/Mary Fox-Stroman SUBJECT: Monthly Financial Report June 30, 2012 Attached is the Metropolitan Sports Facilities Commission s Monthly Financial Report as of June 30, 2012 which includes the budgetary comparison statements and the accounts receivable summary. Our report today includes first and second quarter revenues of $1,950,895 which were $572,895 more than budgeted revenues of $1,378,000. The budget was prepared based on the 2012 Vikings football season and other planned events for 2012, however, the Minnesota Vikings played their last home game of the 2011 football season on January 1, 2012 and net revenues from this game of $464,537 are included in this report. Other events net revenues of $638,672 were from a variety of events including the Home and Landscape Expo, Motor Sports, Twins fest, University of Minnesota baseball and softball, other collegiate, high school and youth baseball events, Minnesota Vikings 2012 Draft Party, Harriet Tubman Soiree, and several other events. Other events net revenues increased 13% when compared to the same revenues in A comparison to the 2011 revenues is not available due to the roof restoration project and the cancellation of all field events until August Following is a summary of investment results as of June : 2 nd Qtr 12 YTD 12 1 Yr MSFC Sit Short Duration +1.2% +2.2% +3.6% Merrill Lynch 1-3 Yr 0.2% 0.1% 0.8% Treasury Index (benchmark) Expenses totaled $4,131,321 for the first and second quarter and were $1,990,179 less than budgeted expenses. The three largest expense budget variances occurred in contractual building services, utilities, and insurance and were the result of cost controls, delayed purchases, reduced heating costs, and a pro rata allocation of the Commission's insurance costs. Repairs, replacements and improvements expenses included costs for the Minnesota Vikings elevator replacement project of $152,950. Telephone TTY Facsimile

24 The accounts receivable balance at June 30, 2012 was $374,438 and payments of $357,645 have been received to date. Due to the seasonal nature of the NFL football season the majority of our revenues occur in the third and fourth quarter of the year. As of June 30, 2012 the account balance (reserves) decreased $2,180,426 (16.3%) to $11,162,325. The Commission's year-to-date financial performance reflects our commitment to delivering outstanding stadium experiences for our event users, their fans and patrons. We look forward to the 2012 Vikings football season and a variety of athletic and cultural events that are scheduled to occur in the third and fourth quarter of this year. RECOMMENDATION: No action is required at this time. This is for informational purposes only. Telephone TTY Facsimile

25 METROPOLITAN SPORTS FACILITIES COMMISSION BUDGETARY COMPARISON STATEMENTS January 1, 2012 June 30,

26 METROPOLITAN SPORTS FACILITIES COMMISSION BUDGETARY COMPARISON SUMMARY STATEMENT OF REVENUES, EXPENSES AND CHANGES IN ACCOUNT BALANCES Month Ending June 30, 2012 Variance Actual Budget Favorable 6/30/2012 6/30/2012 (Unfavorable) Revenues MN Vikings Regular Season Net Revenues (Vikings game 1/1/2012) $ 464,537 $ - $ 464,537 Other Events Net Revenues 638, ,000 (6,328) Miscellaneous Revenues 579, ,000 66,482 Investment Income 268, ,000 48,204 Total revenues 1,950,895 1,378, ,895 Expenses Operating expenses: Personal services 999,734 1,087,500 87,766 Professional services 206, ,000 (21,996) Contractual building services 639,736 1,080, ,264 Audio-visual maintenance costs 59, ,000 86,052 Travel and meetings 20,639 12,000 (8,639) Supplies, repairs and maintenance 187, , ,675 Utilities 1,083,662 1,649, ,338 Insurance 513, , ,272 Communication 23,418 45,000 21,582 Miscellaneous 322, ,000 (35,444) Less: reimbursed expenses (111,560) (322,000) (210,440) Subtotal operating expenses 3,946,070 5,498,500 1,552,430 Repairs, Replacements and Improvements Other expenses 163, , ,901 Concessions-Repair and maintenance 22,017 60,000 37,983 Concessions-Replacements and new equipment - 40,000 40,000 Concessions-Promotions ,000 12,865 Total expenses 4,131,321 6,121,500 1,990,179 Change in Account Balances (2,180,426) (4,743,500) 2,563,074 Beginning Account Balances 13,342,751 13,342,751 - Ending Account Balances $ 11,162,325 $ 8,599,251 $ 2,563,074 Recap Ending Account Balances: Operating Account $ 6,321,832 $ 4,231,605 $ 2,090,227 Repairs, Replacements and Improvements 3,056,609 2,709, ,901 Concessions Reserve Accounts 1,783,884 1,657, ,946 Total Ending Account Balances $ 11,162,325 $ 8,599,251 $ 2,563,074 26

27 METROPOLITAN SPORTS FACILITIES COMMISSION BUDGETARY COMPARISON - ALL ACCOUNTS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN ACCOUNT BALANCES Month Ending June 30, 2012 OPERATING ACCOUNT Account Actual Budget Number Account Title 6/30/2012 6/30/2012 Revenues: MN Vikings Regular Season Revenues: A Concession receipts $ 658,132 $ - A MN Vikings share of concession receipts (98,720) - A-5202 Cost of concession operations $ (515,818) - Net concession profit to MSFC $ 43,594 $ - A Plaza concession receipts $ 12,274 $ - A MN Vikings share of plaza concession receipts (3,334) - A-5207 Cost of plaza concession operations (8,327) - Net plaza concession profit to MSFC $ 613 $ - A Admission tax $ 420,330 $ - A Rent 387,247 - Subtotal admission tax and rent $ 807,577 $ - Subtotal MN Vikings Regular Season Revenues $ 851,784 $ - A Less: Facilities cost credit/rent forbearance (387,247) - Net MN Vikings Regular Season Revenues $ 464,537 $ - Other Events Revenues: A Concession receipts and catering $ 617,122 $ 545,000 A Other events share of concession receipts (34,202) (30,000) A-5202&5203 Cost of concession and catering operations (484,575) (320,000) Net concession profit to MSFC $ 98,345 $ 195,000 A-4400 Plaza concession receipts $ - $ - A-5215 Other events share of plaza receipts - - A-5206 Cost of plaza concession operations (1,987) - Net plaza concession profit to MSFC $ (1,987) $ - A Admission tax $ 109,715 $ 155,000 A Rent 422, ,000 A Parking 10,564 10,000 A Share of novelties - 10,000 Subtotal admission tax, rent, parking and share of novelties $ 542,314 $ 450,000 Total Other Events Revenues $ 638,672 $ 645,000 Miscellaneous Revenues: A Private suites annual payment $ 400,000 $ 400,000 A Private suites commissions on catered sales 15,448 - A-4204 Minneapolis parking agreement - 75,000 A Minnesota Running club 910 1,000 A In-line skating 5,000 10,000 A Miscellaneous 152,813 12,000 A Building use fee 1,700 12,000 A &4746 Advertising - - A Tour fees 3,611 3,000 Total Miscellaneous Revenues $ 579,482 $ 513,000 Investment income: A Investment income $ 268,204 $ 220,000 Total Revenues $ 1,950,895 $ 1,378,000 27

28 METROPOLITAN SPORTS FACILITIES COMMISSION BUDGETARY COMPARISON - ALL ACCOUNTS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN ACCOUNT BALANCES Month Ending June 30, 2012 OPERATING ACCOUNT Account Actual Budget Number Account Title 6/30/2012 6/30/2012 Expenses: Personal services A-5112&5116 Wages-full-time and part-time employees $ 795,764 $ 785,000 A-5122 Employee retirement 32,430 36,000 A-5124 Health insurance 90, ,000 A-5126 Life insurance 708 3,000 A-5128 Disability insurance 403 1,500 A-5130 Dental insurance 2,727 6,000 A-5142 FICA and Medicare costs 61,083 60,000 A-5144 Workers compensation insurance 15,667 15,000 A-5146 Unemployment compensation ,000 Subtotal personal services $ 999,734 $ 1,087,500 Professional services A-5222 Technical consultants $ 513 $ 5,000 A-5223 Investment advisor and custodian 12,953 30,000 A-5232 Legal services-general counsel and legislative rep. 193, ,000 A-5234 Audit fees - - Subtotal professional services $ 206,996 $ 185,000 Contractual building services A-5240 Stadium cleaning supplies $ 29,489 $ 80,000 A-5241 Stadium cleaning services 190, ,000 A-5243 Building maintenance-contractual 168, ,000 A-5244 Plaza expense 3,460 30,000 A-5245 Relamp field lights - 5,000 A-5247 Other labor services 198, ,000 A-5250 Painting 38,005 65,000 A-5252 Turf cleaning 11,430 10,000 Subtotal contractual building services $ 639,736 $ 1,080,000 Audio-visual maintenance costs A-5246 Ad panel and marquee maintenance $ 1,094 $ 6,000 A Color scoreboard 43,010 64,000 A-5257 Black and white scoreboard - 30,000 A-5259 Sound system 12,658 20,000 A-5260 TV system service 3,186 26,000 Subtotal audio-visual maintenance costs $ 59,948 $ 146,000 Travel and meetings A-5272 Local travel, meetings and seminars $ 4,354 $ 4,000 A-5274 Out-of-town travel, meetings, and seminars 16,285 8,000 Subtotal travel and meetings $ 20,639 $ 12,000 28

29 METROPOLITAN SPORTS FACILITIES COMMISSION BUDGETARY COMPARISON - ALL ACCOUNTS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN ACCOUNT BALANCES Month Ending June 30, 2012 OPERATING ACCOUNT Account Actual Budget Number Account Title 6/30/2012 6/30/2012 Expenses: (continued) Supplies, repairs and maintenance A-5304 & 5518 Office supplies $ 5,059 $ 12,000 A-5306 First aid supplies and related costs 5,702 18,000 A-5308 & 5312 Office equipment maintenance and repairs 3,516 3,000 A-5316 Parking lot supplies, maintenance and snow removal 17,941 94,000 A-5320 Building maintenance supplies 45,628 75,000 A-5324 Motor fuel 3,021 7,000 A-5328 Equipment repairs 8,807 20,000 A-5329 Computer administration costs and supplies 40,140 56,000 A-5332 Field maintenance supplies 23,527 19,000 A-5333 Artificial turf repairs and plywood storage 12,000 12,000 A-5335 Security 21,984 17,000 Subtotal supplies, repairs and maintenance $ 187,325 $ 333,000 Utilities A Sewer and water $ 68,761 $ 116,000 A-5403 Electricity 358, ,000 A-5404 Heating 521, ,000 A-5405 Air conditioning 135, ,000 Subtotal utilities $ 1,083,662 $ 1,649,000 Insurance A-5411 Liability-General, umbrella, & public officials (includes terrorism) $ 70,756 $ 135,000 A-5412 Property (includes terrorism) 437, ,000 A-5415 Auto 902 2,000 A-5416 Crime 5,002 9,000 Subtotal insurance $ 513,728 $ 996,000 Communication A-5432 Postage and delivery services $ 1,272 $ 8,000 A-5434 Telephone and cell phone services 22,146 37,000 Subtotal communication $ 23,418 $ 45,000 Miscellaneous A-5302 Tour expense $ 3,270 $ 1,000 A-5503 Bid specifications 960 1,000 A-5502 Personnel recruitment A-5504 Notices public meetings - 1,000 A-5510 Equipment rental - 4,000 A-5514 Commissioners expense ,000 A-5516 Dues and subscriptions 4,682 6,000 A-5522 License and inspection fees 7,041 6,000 A-5524 Miscellaneous 1,627 5,000 A-5528 Event services and event related costs 135, ,000 A-5533 Facilities planning, research, public information 126, ,000 A-5545 Marketing expense 25,406 50,000 A-5546 Advertising expense - - A-5555 New stadium costs 16,942 - Subtotal miscellaneous $ 322,444 $ 287,000 29

30 METROPOLITAN SPORTS FACILITIES COMMISSION BUDGETARY COMPARISON - ALL ACCOUNTS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN ACCOUNT BALANCES Month Ending June 30, 2012 OPERATING ACCOUNT Account Actual Budget Number Account Title 6/30/2012 6/30/2012 Expenses: (continued) Less: reimbursed expenses A MN Vikings reimbursed expenses $ (48,407) $ (155,000) A Other events reimbursed expenses (11,324) (42,000) A Miscellaneous reimbursed expenses (51,829) (125,000) Subtotal reimbursed expenses $ (111,560) $ (322,000) Total Expenses $ 3,946,070 $ 5,498,500 Transfers Out: A-5734 Transfer to Concessions-repair/maintenance account $ 24,939 10,900 A-5736 Transfer to Concessions-replacements/new equipment account 24,939 10,900 A-5738 Transfer to Concessions-promotions expense account 12,470 5,450 Transfer to Repair, Replacement and Improvements account - Subtotal transfers out $ 62,348 $ 27,250 Total Expenses and Transfers Out $ 4,008,418 $ 5,525,750 Change in Account Balance (2,057,523) (4,147,750) Beginning Operating Account Balance 8,379,355 8,379,355 Ending Operating Account Balance $ 6,321,832 $ 4,231,605 30

31 METROPOLITAN SPORTS FACILITIES COMMISSION BUDGETARY COMPARISON - ALL ACCOUNTS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN ACCOUNT BALANCES Month Ending June 30, 2012 REPAIRS, REPLACEMENTS and IMPROVEMENTS ACCOUNT Account Actual Budget Number Account Title 6/30/2012 6/30/2012 Transfers In: Transfer from operating account $ - $ - Expenses: Audio and video projects $ 7,703 $ 50,000 Building improvement/replacement projects 152, ,000 Equipment new/replacement projects 2, ,000 Miscellaneous projects - 60,000 Total Expenses $ 163,099 $ 510,000 Change in Account Balance $ (163,099) $ (510,000) Beginning Repairs, Replacements and Improvements Account Balance 3,219,708 3,219,708 Ending Repairs, Replacements and Improvements Account Balance $ 3,056,609 $ 2,709,708 METROPOLITAN SPORTS FACILITIES COMMISSION BUDGETARY COMPARISON - ALL ACCOUNTS STATEMENT OF REVENUES, EXPENSES AND CHANGES IN ACCOUNT BALANCES Month Ending June 30, 2012 CONCESSIONS RESERVE ACCOUNTS Account Actual Budget Number Account Title 6/30/2012 6/30/2012 Transfers In: Transfer from operating account $ 62,348 $ 27,250 Total Transfers In $ 62,348 $ 27,250 Expenses: "F" Concessions-Repair and Maintenance $ 22,017 $ 60,000 "G" Concessions-Replacements and New equipment - 40,000 "H" Concessions-Promotions expense ,000 Subtotal Repair, Replacements and Promotions $ 22,152 $ 113,000 Total Expenses $ 22,152 $ 113,000 Change in Account Balance $ 40,196 $ (85,750) Beginning Concessions Reserve Accounts Balance 1,743,688 1,743,688 Ending Concessions Reserve Accounts Balance $ 1,783,884 $ 1,657,938 31

32 METROPOLITAN SPORTS FACILITIES COMMISSION ACCOUNTS RECEIVABLE SUMMARY As of June 30,

33 Metropolitan Sports Facilities Commission Aged Accounts Receivable Balance As of June 30, 2012 Customer Amount 0-30 Days Days 61 and Over Amateur Sports $ $ Centerplate $ $ City of Minneapolis $ 150, $ 150, Harriet Tubman Center $ 5, $ 5, Minnesota Vikings $ 86, $ 2, $ 84, Minnesota Stars Soccer $ 4, $ 4, ** Montevideo High School $ $ New Cingular Wireless $ 1, $ 1, Pride Sports & Fitness, Inc. $ 10, $ 10, Adam Severin $ $ Southwest Transit $ 4, $ 4, Ultimate Events $ $ U of M Athletics $ 108, $ 108, George Wong $ 1, $ 1, Payments Received through 07/31/12: $ 374, $ 127, $ $ 246, Centerplate pymt 7/12/12 $ (614.94) $ (614.94) City of Minneapolis pymts. 7/2 and 7/16/12 $ (150,000.00) $ (150,000.00) Harriet Tubman pymt 7/3/12 $ (5,662.43) $ (5,662.43) Minnesota Viking pymts. 7/13 and 7/25/12 $ (86,334.47) $ (2,262.06) $ (84,072.41) New Cingular pymt. 7/3/12 $ (1,086.49) $ (1,086.49) Adam Severin pymt. 7/25/12 $ (500.00) $ (500.00) Southwest Transit pymt. 7/3/12 $ (4,300.00) $ (4,300.00) Ultimate Events pymt. 7/25/12 $ (800.00) $ (800.00) U of M Athletics pymt. 7/16/12 $ (108,346.41) $ (108,346.41) Total Payments Received $ (357,644.74) $ (123,072.33) $ (500.00) $ (234,072.41) Outstanding Balance $ 16, $ 4, $ - $ 12,

34 MINNESOTA SPORTS FACILITIES AUTHORITY 900 South 5th Street Minneapolis, Minnesota August 24, 2012 MEMORANDUM TO: FROM: SUBJECT: MSFA Commissioners Ted Mondale / Steve Maki Project Labor Agreement Project labor agreements have been used in the majority of large public works projects in the State of Minnesota. Examples of stadium construction that have had project labor agreements include the Hubert H. Humphrey Metrodome, TCF Bank Stadium, and Target Field. In general, the goals of these agreements are to promote labor harmony, secure a long-term supply of skilled workers, coordinate the work of multiple crafts, establish uniform terms and conditions, and provide a legally enforceable means of assuring peace and stability on public projects. In order to make a recommendation to the Authority, staff seeks authorization from the Authority to research this issue, submit findings and make recommendations to the Authority at its next meeting. Any such recommendations would be subject to approval by the Authority. RECOMMENDATION: Direct the CEO/Executive Director and staff to research the matter of and considerations with respect to a project labor agreement, and make recommendations to the Authority at its meeting of September 14,