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HomeMy WebLinkAboutCS 50-12 city, co Report to Executive Committee • PICKERING Report Number: CS 50-12 Date: November 12, 2012 From: Everett Buntsma Director, Community Services Subject: Proposed Indoor Soccer Facility Pre 2013 Capital Budget Approval - File: A-1440 Recommendation: 1. That Report CS 50-12 from the Director, Community Services be received; 2. That Council support in principle the Pickering Soccer Club Indoor Facility Business Plan to develop and operate an Indoor Soccer Facility at 1955 Clements Road; 3. That Council provide a pre 2013 Capital Budget approval for the Architectural & Engineering Services and Construction of the Pickering Indoor Soccer Facility at an estimated total project cost of$4,876,089.89; 4. That the (Acting) Division Head, Finance & Treasurer be authorized to finance the total estimated project cost as follows: a) the sum of$4,875,000.00 to be financed by the issue of debentures by the Regional Municipality of Durham over a period not to exceed 15 years, at a rate to be determined;. b) the sum of$1,089.89 to be funded from property taxes; c) the annual repayment charges in the amount of approximately $423,275.00 be included in the annual Current Budget for the City of Pickering, continuing thereafter until the loan is repaid, and any financing cost to be paid out of the Current Budget; 5. That Council approve in principle the debt financing charges for the indoor soccer dome be fully repaid by the Pickering Soccer Club through regular monthly payments during the fifteen year period commencing on September 30, 2013; 6. That Council approve the engagement of Rounthwaite Dick and Hadley Architects Inc. for the Architectural & Engineering Services for the Pickering Indoor Soccer Facility in accordance with the City's Purchasing Policy Item 10:05; • Report CS 50-12 November 12, 2012 Subject: Proposed Pickering Indoor Soccer Facility Page 2 7. That the proposed total gross cost of Rounthwaite Dick and Hadley Architects Inc. in the amount of $369,233.15 (HST included), and a net cost of$332,505.89 (net of HST rebate) be approved; 8. That the draft by-law attached to this report be enacted; and 9. That the appropriate City of Pickering officials be authorized to take necessary action to give effect thereto. Executive Summary: Staff are recommending support of the Pickering Soccer Club Business Plan to develop a new indoor soccer facility at 1955 Clements Road. The Pickering Soccer Club have identified the immediate need for an indoor soccer facility and staff concur with their analysis. The Pickering Soccer Club are proposing a facility comprised of 1 full sized field that can be split into 4 quarters, change rooms, meeting room and administrative offices. The soccer fields would be housed in an air supported structure whereas the change rooms, meeting rooms and offices would be within a permanent structure attached to the dome. The facility will feature an 11-a-side indoor soccer field that can be split into 4 quarters, thereby allowing multiple activities to take place simultaneously. This will be a multi-use space that can be used for for other recreational activities including but not limited to football, lacrosse, baseball, softball, lawn bowling and ultimate frisbee. The City is proposing to engage Rounthwaite, Dick and Hadley Architects Inc. to undertake design, site planning and prepare drawings and specifications for the tender and construction of the new Operations Centre. To advance this project in a timely manner, with a goal to completing the facility by September 2013 (the beginning of the indoor season) and to ensure a coordinated design and site planning of the City facilities at 1955 Clements Road, staff recommend that Rounthwaite, Dick and Hadley Architects Inc. be engaged to prepare the Architectural & Engineering Services for the indoor soccer facility project. The City's Purchasing Policy Item 10.04 states "Where the project or annual cost of a consulting or professional service assignment is expected to be more than $30,000 the Manager shall obtain written proposals in accordance with procedures set out in Section 06". However, the City's Purchasing Policy Item 10.05 states "Where the project or annual cost of a consulting or professional service assignment is expected to be more than $30,000 and the initiating Director intends to acquire the services without obtaining written proposals, the Director shall submit a report to Council to obtain approval to engage the services of a particular consultant." CORP0227-07101 revised Report CS 50-12 November 12, 2012 Subject: Proposed Pickering Indoor Soccer Facility Page 3 This report is asking Council to approve the following: 1. The engagement of the architects to design the facility. 2. To provide pre 2013 capital budget approval for the project and corresponding debt financing by-law in the amount of$4,875,000 Staff recommend that the indoor soccer facility be developed as a City of Pickering controlled and funded project and operated by the Pickering Soccer Club. The Pickering Soccer Club would be fully responsible for the ongoing operating costs of the indoor soccer facility and also repaying the full capital cost of the project plus interest. Indirectly, this business relationship can be viewed as a public private partnership with the residents of Pickering receiving the benefit of this facility with an estimated zero impact on the property tax levy. Financial Implications: The foregoing has been discussed with the (Acting) Division Head, Finance & Treasurer who concurs with the Report and Recommendations and reports the following: 1. Estimated Project Cost Summary-Indoor Soccer Facility Construction Costs $4,215,000.00 Architectural &Engineering Fees 326,755.00 Fitments 50,000.00 Contingency 200,000.00 Total Project Costs $4,791,755.00 • HST (13%) 622,928.15 Total Gross Project Cost $5,414,683.15 HST Rebate (11.24%) (538,593.26) Total Net Project Cost $4,876,089.89 2. Estimated Cost-Architectural & Engineering Services Costs per letter from $326,755.00 Rounthwaite, Dick and Hadley Architects HST (13%) 42,478.15 Sub-Total $369,233.15 HST Rebate — (11.24%) (36,727.26) Total-Net Cost to City $332,505.89 CORP0227-07/01 revised Report CS 50-12 November 12, 2012 Subject: Proposed Pickering Indoor Soccer Facility Page 4 The estimated total project cost is $4,876,089.89. In 2012, the City's long-term Capital Forecast included $5.0 million for an indoor soccer facility in 2013. The project costs will be included in the 2013 Capital Budget submission. The City would fully fund the capital cost of the construction of the facility estimated at $4,876,089.89. The Pickering Soccer Club are committed to a 15 year repayment schedule for capital costs debentured through the City. The Pickering Soccer Club would be required to enter into a capital and operating agreement with the City where the PSC would be responsible for operating and managing the facility to their account. and repay the full capital cost of the project plus interest through regular monthly payments to the City during the 15 year initial term of the agreement. Therefore, under this business partnership, it is anticipated that there will be no budgetary levy impact on the 2013 budget or going forward on future year's budgets. To put another way, Pickering residents will be receiving the benefits of this facility with no taxpayer impact. The Pickering Soccer Club or PSC will charge market driven rental rates to cover their costs including the debt charges. The advantage of this business partnership is the PSC is a not-for-profit entity and therefore, the corresponding rental rates will not need to cover a profit element. This project consists of two components: the architectural & engineering services, and construction. This report serves to seek Council pre-budget approval for both the components in order to have proper formal documents in place for the debenture financing of this project. At this time, Council approval is needed in order to proceed with the design and tender document preparation, at a net cost of$332,505.89 (net of HST rebate). Tendering for the construction component will follow upon the completion of the architectural & engineering services component and a further report will be brought to Council for awarding of the construction tender. Discussion: Over the past five years, City staff have been working with the Pickering Soccer Club in investigating the feasibility of an indoor soccer facility. The City of Pickering has received a Business Plan from the PSC to develop and operate an indoor soccer facility. The Pickering Soccer Club (PSC) is a not-for-profit organization whose purpose is to develop the individual abilities of each soccer player for the purpose of improving his/her enjoyment of soccer. For more than 30 years, the PSC has enjoyed a remarkable degree of success offering both competitive and house league programs for youth aged 5 to 19. Existing programs serve over 5,000 male and female youth soccer players. PSC also have a recognized program for special needs athletes and the PSC ensures opportunities for disadvantaged youth to participate in soccer programs. CORP0227-07/01 revised • Report CS 50-12 November 12, 2012 Subject: Proposed Pickering Indoor Soccer Facility Page 5 PSC also operate an indoor program with participation of only 625 players due to the lack of proper facilities. Due to the lack of indoor training facilities in Pickering and in Durham, members of the Pickering soccer community have been forced to travel outside of the region in order to continue to train and play during the fall and winter seasons. A large number of PSC teams are paying significant dollars in annual facility rental expenditures outside of Pickering. PSC reports significant loss of youth members to facilities outside of Pickering due to lack of year-round quality training. A new indoor soccer facility would keep players, parents and dollars in Pickering. The indoor facility would provide all 3,350 registered members the opportunity to play winter soccer. It would provide recreational and competitive players much needed local facility space to train and develop by not only providing additional cost-effective training time, but also providing development opportunities for their coaches. Over the last decade the PSC has been recognized as one of the premier clubs in Ontario and across Canada. To maintain this standard of excellence and to continue fulfilling its mission, PSC need to provide more consistent in-house development programs for PSC members to receive year-round quality training. A new indoor soccer facility will enable PSC to attract many new players and promote continued growth and stability of the indoor program. A successful indoor program also contributes to the growth and development of the outdoor program. The City's 2002 Recreation, Parks and Cultural Master Plan identified the need for an indoor soccer facility with construction recommended by 2006. In 2006, the City established a Community Facilities Team, with staff team members from various City Departments. The objective of this Team was to review facility needs/demands, and confirm those facilities needed within 5 years to meet current community demand, while identifying the longer term projected facility needs/demands based on projected population growth. A resultant immediate need facility inventory was established, as well as an inventory of identified longer term facility needs. An indoor soccer facility is included in the immediate facility need inventory. The PSC want to invest in a City owned facility. The Pickering Soccer Club feel they have the expertise to manage and operate an indoor soccer facility. The Pickering Soccer Club proposes that the City of Pickering assume the role of principal owner of the indoor soccer facility with the PSC as the principal operator. The PSC are proposing a facility comprised of 1 full sized senior field that can be split into 4 quarters, change rooms, meeting room, administrative offices, concession area and a central lobby. The soccer fields would be housed in an air supported structure whereas the change rooms, meeting rooms, offices etc would be within a permanent structure attached to the dome. The facility will feature an 11-a-side indoor soccer field that can be split into 4 quarters, thereby allowing multiple activities to take place simultaneously. This will be multi-use space for other activities including but not limited to football, lacrosse, baseball, softball, lawn bowling and ultimate frisbee. CORP0227-07/01 revised Report CS 50-12 November 12, 2012 Subject: Proposed Pickering Indoor Soccer Facility Page 6 The proposed facility is to be located at 1955 Clements Road. The new Operations Centre does not require the full 25 acre parcel recently acquired at that address. Approximately 6 acres make this a suitable site for the indoor soccer facility. Staff will consult with the public on the selected site. This location allows for easy access by PSC members, Pickering residents, neighbouring communities Scarborough, Markham, and the rest of Durham Region. The development of the indoor soccer facility would be a municipally managed and financed construction project. The City would fully fund the capital cost of the construction of the facility estimated at $4,876,090 and the PSC would be responsible for the repayment of the capital cost plus interest through regular monthly payments to the City. The PSC would ensure that the facility is professionally maintained and operated at all times. The PSC would recruit and train staff to schedule various events and activities (including leagues, games, tournaments, coaches clinics and referee clinics) and monitor the day-to-day operations. The PSC has met with staff to discuss this proposed plan. PSC has reviewed a plan to support a capital cost of $4,876,090 through regular monthly payments over the next 15 years. The Club has assumed an interest rate of 3.5% in its business model. The PCS has projected total 2013 annual operating expenses for the indoor program at $960,000 offset by revenues of$1,111,000. The Club has then projected the business plan for each year through 2018 to illustrate the projected growth in participation and revenue gain and to adjust for realistic inflationary increases to the operating expenses. The PSC has prepared detailed utilization modules with utilization rates and annual growth using rental fees that are consistent with the fees charged by other similar facilities. The business plan also projects that the facility will be primarily an October to April operation with significantly reduced use during late spring and early fall time periods and no rental activity during the months of July and August. The City has engaged Rounthwaite, Dick and Hadley Architects Inc. to undertake design, site planning and prepare drawings and specifications for the tender and construction of the new Operations Centre. Attached is a proposal from Rounthwaite, Dick and Hadley Architects Inc. to provide the City with professional services for the design of a new indoor soccer facility at 1955 Clements Road at a cost of$326,755.00 plus HST. To advance this project in a timely manner, with a goal to completing the facility by September 1, 2013 (the beginning of the indoor season) and to ensure a coordinated design and site planning of the City facilities at 1955 Clements Road, staff recommend that Rounthwaite, Dick and Hadley Architects Inc. be engaged to prepare the Architectural & Engineering Services for the indoor soccer facility project. CORP0227-07/01 revised Report CS 50-12 November 12, 2012 Subject: Proposed Pickering Indoor Soccer Facility Page 7 This report is to obtain Council approval to engage the services of Rounthwaite, Dick and Hadley Architects Inc. for the proposed Indoor Soccer Facility at a total gross cost of$369,233.15 (HST included), and a net cost of$332,505.89 (net of HST rebate). In addition, this report is asking Council to approve the project and the corresponding debenture by-law to ensure that the project can be completed in advance of the indoor soccer season. PSC requires the September 1, 2013 completion date in order to market and develop the various indoor programs both soccer and non-soccer related. Opening the facility after this date puts its first year business plan at risk. Financial Risk & Business Relationship Staff of the Corporate Services and Community Services Departments have reviewed the financial information provided by PSC and confirm that the revenue and expenditure projections are sound. Staff have also examined the rental expectations and can agree with the utilization projections. The (Acting) Division Head, Finance & Treasurer has completed a revenue and cost analysis of the project based on three scenarios. Scenario one is based on 90% of the peak rate revenue adjusted to $540 per hour. Scenario two assumes that PSC will only achieve 50% of its adult league revenue and scenario three assumes zero adult league revenues. Under all three scenario's, the indoor soccer dome is economically viable. Indoor Soccer is quickly becoming a major winter sport activity and many if not all of the existing facilities are utilized 100% during the prime time periods. In addition, with the construction of office space at this facility, PSC is able to avoid rent costs of approximately $51,600 and apply these savings to the operation of the dome. A key component of the first year business plan is for the facility to be ready by September 1, 2013. The marketing of the various soccer and non soccer programs will be aided by the facility being completed by this date. Potential customers will want assurances that a facility is completed or near completion before they are willing to commit to an indoor program. As a result of this time deadline, it was important to have pre-budget approval to "fast track" the development and construction of the facility. As with any new business venture, there is always an element of risk PSC has approximately $300,000 in reserves and will use these funds if there is revenue shortfall to cover their monthly payments. However, soccer is truly a multi-cultural sport and with development of Duffin Heights and with Seaton coming, the demographics for the business model look very positive. Staff is recommending that the indoor soccer facility be developed as a City of Pickering controlled and funded project and operated by PSC. PSC would be fully responsible for the ongoing operating costs of the indoor soccer facility and also repaying the full capital cost of the project plus interest. PSC would also be responsible for repair and maintenance of the facility and premises and to keep the facility in a consistent standard equal to other City operated facilities. CORP0227-07/01 revised Report CS 50-12 November 12, 2012 Subject: Proposed Pickering Indoor Soccer Facility Page 8 PSC would be required to enter into a capital and operating agreement with the City where the PSC would be responsible for operating and managing the facility and to repay the full capital cost of the project plus interest through regular monthly payments to the City during the 15 year initial term of the agreement. After the completion of the first 3 years, PSC will be required to pay the City an annual contribution as determined by the Treasurer for the replacement of major capital components such as the artificial turf field and dome fabric. PSC will be given the opportunity to contribute earlier if they have sufficient financial resources. The three year period is a similar strategy employed by the Town of Whitby. The three year period provides PSC the element of time to develop their various indoor soccer programs. Benefit to Taxpayers As stated above, it is anticipated that this project will have a zero impact on the City's tax levy. In addition to having a zero tax levy impact, Pickering residents will also benefit by having approximately 3,360 of indoor dome programming hours available every year to be used for soccer and non-soccer activities. PSC has made a commitment to approach non soccer users (including seniors) and to make this facility available to them. Should Council concur, it is recommended that staff be authorized to proceed with developing a draft agreement between the City and the Pickering Soccer Club that is consistent with the principles as outlined in this report and the Pickering Soccer Club Business Plan. Attachments: 1. Pickering Soccer Club Indoor Facility Business Plan 2. Location Map 3. Letter from Rounthwaite, Dick and Hadley Architects Inc. dated October 25, 2012 4. Being a by-law to authorize the Architectural & Engineering Services and Construction of the Pickering Indoor Soccer Facility in the City of Pickering, and the issuance of debentures in the amount of$4,875,000 CORP0227-07/01 revised Report CS 50-12 November 12, 2012 Subject: Proposed Pickering Indoor Soccer Facility Page 9 Prepared By: Approved/Endorsed B • 3-r3 - 119 Stephen Reyno s Everett Bu . m Division Head, Culture & Recreation Director, C.I munity Services 0 Caryn Kong, CGA Paul Bigioni Senior Financial Analyst-Capital & Director, Co .ora e Services• & City Solicitor Debt Management Stan Karwowski (Acting) Division Head, Finance & Treasurer SR:Ig Recommended for the consideration of Pickering City Council i 1o ' D Si, 20/Z Tony Preve•el, P.Eng. Chief Administrative Officer CORP0227-07/01 revised ATTACHMENT# I TO REPORT# CS SO _ i Z -i d.. (. ,+ x i , � 4 ( ;A AS 7/$1 i ‘ * , , 1 ,- i i - r ... t,..____,, ' it ? 0 fa l' Co 77,.. .. , , ,- . _ , , , i t \ 1 ....iii t it" „a,. ill • k ,.. ,,,,,,,,.'F k . ...., '5111 �r.oboa: ,{r- � 1 PICKERING SOCCER CLUB „ INDOOR FACILITY BUSINESS PLAN ill Prepared By: P/CKE/WI 7G Pickering Soccer Club Board of Directors SOCCER 1735 Bayly St., Unit#14 V Pickering,ON L1W 3G7 905-831-8903 www.pickeringsoccer.ca Presented By: Corrado Roccasalva and Tony La Ferrara March 14,2012(revised October 20th 2012) • CONTENTS Contents 1 EXECUTIVE SUMMARY 4 THE PICKERING SOCCER CLUB 4 THE SOCCER FACILITIES MARKET 5 THE PROPOSED FACILITY 5 OUR TEAM 6 THE INVESTMENT 6 1. BUSINESS DESCRIPTION 7 INDUSTRY OVERVIEW 7 COMPANY DESCRIPTION 8 HISTORY AND CURRENT STATUS 9 GOALS AND OBJECTIVES 9 CRITICAL SUCCESS FACTORS 9 2. PROGRAMS AND SERVICES 10 PROGRAM/SERVICE DESCRIPTIONS 11 3. THE MARKET 12 INDUSTRY AND MARKET ANALYSIS 12 COMPETITOR ANALYSIS 14 4. MARKETING STRATEGIES AND SALES 15 MARKET SEGMENTATION STRATEGY 15 TARGETING AND POSITIONING STRATEGY 15 PRODUCT/SERVICE STRATEGY 15 PRICING STRATEGY 16 PROMOTION AND ADVERTISING STRATEGY 16 SALES STRATEGY 17 SALES FORECASTS 17 5. PLAYER DEVELOPMENT 17 DEVELOPMENT STRATEGY 18 6. MANAGEMENT 18 COMPANY ORGANIZATION 18 MANAGEMENT TEAM 19 MANAGEMENT STRUCTURE AND STYLE 26 OWNERSHIP 26 7. OPERATIONS 26 2 OPERATIONS STRATEGY 27 SCOPE OF OPERATIONS 28 ONGOING OPERATIONS 28 OPERATIONS EXPENSES 29 PERSONNEL 29 LOCATION 29 FACILITY EQUIPMENT 29 SUPPLIERS 29 CREDIT POLICIES 30 LEGAL ENVIRONMENT 30 8. FINANCIALS 31 FINANCIAL HISTORY AND ANALYSIS 31 CURRENT FINANCIAL POSITION 31 OPERATING FORECAST 32 BREAK-EVEN ANALYSIS 33 INCOME STATEMENT 33 • CASH FLOW 33 9. CAPITAL REQUIREMENTS 33 10. RISK/OPPORTUNITY 34 11. APPENDICIES 35 3 EXECUTIVE SUMMARY Why does Pickering We are pleased to submit our business plan for a new indoor facility in Need an Indoor Pickering. We believe the time is right for a new indoor soccer center in Pickering. We have done significant investigation of the various options to Facility? support an indoor facility in Pickering as well as what would be required from an operations, management, marketing and sales perspective. The business plan Reason 1: A new soccer centre will attached provides a realistic projection of how the Pickering Soccer Club will enable us to fulfill club and community year-around soccer manage and operate this facility,detailing its usage and financial forecast. requirements;expand and initiate high quality development programs THE PICKERING SOCCER CLUB fort contribute t young athletes;and contribute to player development in Ontario. The Pickering Soccer Club Inc. (PSC)is a registered non-profit organization Reason 2:A$200K annual facility incorporated in September of 1984 and is governed by a 13-member volunteer rental expenditure is currently being Board of Directors. The mandate of the PSC is to provide soccer related directed outside of Pickering. programs to the residents of Pickering, and the Durham region. Reason 3: Pickering SC,a recognized leading youth club in The mission statement of the PSC is "To create and enhance opportunities to Ontario must continue to provide leadership by example. participate, develop, and excel in the sport of soccer. Reason 4: To provide high quality, The PSC is an essential and indispensable component of the communities which year-round health and fitness it services, providing diverse soccer related activities that respond to the programs in a safe environment. interests and needs of children at least three years of age,youth,and all adults. Reason 5: To support the City of We welcome members from diverse economic backgrounds and ethnic origins. Pickering council's mission for the community. The PSC is a vibrant and safe venue for its members to learn, play,and ultimately have fun,while developing a sense of personal belonging and Reason 6: To encourage the achievement. continuity of soccer development within our Club and community. An indoor centre is pivotal to delivering As part of the PSC's growth,we have shown competence in member this vision. management, marketing, program management,and operations. Our Board of Reason 7: To create a destination Directors is composed of thirteen volunteers who strive to make soccer fun and facility that will actively contribute to engaging for the community it serves. The PSC currently employs four full-time the health&wellness of the community and contribute to the and two part-time staff who rely heavily upon its 500+volunteers. In the 2010- economics of the Cit. ofPickelin. 2011 fiscal year,the PSC programs generated revenue of$1,307,000 and the projected revenue for the 2011-2012 fiscal year is$1,238,400. PSC is positioned as a leader in the professional and developmental growth of our young members. The PSC maintains over 3,350 player and over 5,350 program registrations annually, engaging 18%of Pickering residents. We offer recreational programs segmented into age-groups identified as Micro-boys and girls(aged 3-8), Mini boys and girls(aged 9-12), Full Field boys and girls(aged 13-21),and adult men,women,and Co-Ed. We also have a recognized program for special needs athletes and we ensure opportunities for disadvantaged youth to participate in our soccer programs through a variety of club and community 4 financial subsidies. The PSC's competitive program provides opportunities for both male and female players aged eight and over to compete at the regional, provincial,and national level. Our goal is to provide year round development programs —which are not achievable without an indoor facility—in order to remain competitive and not to lose our athletes or coaches due to lack of facilities. THE SOCCER FACILITIES MARKET The Pickering SC believes the changing landscape of the soccer community supports the need for an indoor soccer facility. While other Durham communities and Toronto have their own facilities,there remains an under- supply of indoor soccer space. Our opportunity is to provide a unique facility—a full-size indoor soccer field. According to Wikipedia, soccer overtook ice hockey in the '80s-'90s as the sport with the most registered players in the country. In 2008,there were 873,032 footballers, compared to 584,679 registered hockey players in Canada in 2008-09. The MLS continues to expand and there are now three Canadian teams participating in the league.The CONCACAF quarter final game in March 2012 at the Rogers Centre between the Toronto FC and the LA Galaxy drew a crowd in excess of 45,000 supporters. In early March 2012, Canada was officially named by FIFA as the host nation for the 2015 Women's World Cup. Clearly,soccer is a growing sport in this country. Given the anticipated growth of the City of Pickering in the coming 5-10 years, combined with the popularity of the sport, and the growth of our current and new programs, it is evident that the facility usage hours will also expand. THE PROPOSED FACILITY Over the last decade the PSC has been recognized as one of the premier clubs in the province of Ontario and across Canada. To maintain this standard of excellence and to continue fulfilling our mission, we need to provide more consistent in-house development programs for our players and coaches. An indoor facility in the City of Pickering would afford the opportunity for our members to receive year-round quality training. We are proposing a facility with a full field—the equivalent of 270 feet x 375 feet—with 7000 sq. feet of permanent structure attached (office, change rooms,etc.). The facility will feature an 11-a-side indoor soccer field that can be split into 4 quarters, and 3 lanes of running,track thereby allowing multiple activities to take place simultaneously. The advantage of this space is that, although it may be geared towards the soccer community,this will be a multi-use facility for other activities including lacrosse,field hockey,football, and many more. The proposed location of this facility allows for easy access by our members, Pickering residents, and our neighboring communities Scarborough, Markham, and the rest of Durham Region. 5 • OUR TEAM • The Pickering Soccer Club is managed by a seasoned management team with diverse experience. Our team has demonstrated skills in marketing,finance, and sales operations, as well as lengthy commitment to the Pickering Soccer Club. Our 13-member volunteer Board of Directors view the Pickering Soccer Club as an essential and indispensable component of our community, providing diverse activities that respond to the interests and needs of the members it serves. THE INVESTMENT The total cost of the proposed indoor facility will be$4,900,000.00 repayable at a rate of 3.5%per annum over 15 years at^ $35,222.00 per month. Under the management and operation of the Pickering Soccer Club, it is projected that the facility will operate at approximately 90%capacity of peak hours and 30%capacity of non- peak during the fall and winter(October-April). During the months of May and June, we anticipate 10%of the peak time to be utilized. Operational hours during July and August will be determined by weather conditions. The PSC will continue to allocate funds to our existing facilities fund annually. These funds are collected to cover major renovation projects required including, but not limited to,the renewal of the entire dome structure in Fifteen (15) years. 6 • 1. BUSINESS DESCRIPTION The Pickering Soccer Club (PSC) is an essential and indispensable component of our community, providing diverse activities that respond to the interests and needs of children,youth and families in Pickering. We welcome people from all economic backgrounds and ethnic/religious cultures. We provide a safe and vibrant place in the community where children and youth can learn, play, have fun and develop a sense of personal belonging and achievement. We are committed to building character,wellness, and fellowship through programs that promote moral and ethical values, and we make every effort to be a leading family advocate in the community. Our youth are encouraged to participate in leadership roles; roles that will enable them to make a positive contribution to our growing community. PSC provides services to all the residents of Pickering between the ages of 3 to 50+. We offer various Recreational programs segmented into age groups identified as: Micro boys and girls (aged 3-8), Mini boys and girls (9-12), Full Field boys and girls (13-21), and Adult Men,Women and Co-Ed. We also have a recognized program for Special Needs athletes. As a Club,we also ensure opportunities for disadvantaged youth to participate in our soccer programs through various club and community financial subsidies. PSC's Competitive program provides opportunities for both male and female players between the ages of 8- Adult to compete at the regional, provincial, and national levels. To better service a greater number of our members, predominantly Pickering residents, our goal is to provide year-round development programs which are achievable with an indoor facility. The availability of a local indoor facility will enable us to train year-round as well as to implement new programs for both our current membership and other user groups within the Pickering community. The Canadian Soccer Association (CSA), our governing body,following on the heels of a mandate from Sport Canada, has introduced a new approach for developing individual players, coaches, and referees participating in the game of soccer. The model, known as "Long Term Player Development" (LTPD) identifies developmental stages that all youth, both male and female, progress through. Moving forward,this model's success depends upon year-round training. An indoor facility will allow the PSC, its members, and the community,to be at the forefront of this change mandated by Sport Canada. Following the LTPD pathway ensures that all players, of all levels of ability,are provided with lifelong enjoyable playing opportunities as well as offering development pathways for elite players who pursue excellence. The City of Pickering will enter this proposed partnership with the Pickering Soccer Club with the confidence that PSC is capable of generating revenue to repay the facility loan within 15 years. INDUSTRY OVERVIEW Under the guidance of the National, Provincial and District governing bodies,the Canadian Soccer Association (CSA),the Ontario Soccer Association (OSA), and the Durham Region Soccer Association (DRSA),soccer has become a sport of broad appeal in Canada. With its appeal to Canada's diverse ethnic and cultural mix,soccer is 7 accessible to both male and female players from as young as three years old to seniors,with a wide range of abilities,through a variety of low cost programs hosted by local soccer clubs in Canada's communities. A number of recent events, mandated by the governing bodies, have dramatically changed the landscape of community club soccer in Canada: • The implementation of the USA's"Club Excellence" certification,a stringent qualification process measuring a club's ability to offer a variety of quality programs, within a structure of compliance, through commonly adopted policies and procedures.The Pickering SC assisted in the development of many of these programs policies and procedures. • Another recent mandate is the CSA's"Long Term Player Development"(LTPD) plan. The model identifies developmental stages that all youth, both male and female, progress through. The Pickering Soccer Club,through the LTPD plan,will provide fun playing experiences for children,a suitable player development pathway for youth,and opportunities for lifelong participation for all players regardless of age,gender, ability or disability. Following the LTPD pathway ensures that all players, of all levels of ability, are provided with lifelong enjoyable playing opportunities as well as offering development pathways for elite players who pursue excellence at Regional, Provincial and National levels. • The creation of a standards-based semi-professional league, beginning in 2013, as an official part of the USA's recognized pyramid for play.The L1 League's goal is to build a community based provincial league worthy of loyal fan support and media attention while also helping to develop a stronger culture for the sport of soccer in Canada.This provides strong community soccer clubs with an opportunity to truly become a "cradle to grave"soccer development organization in their community, offering programs for players at the youngest age groups up to the senior semi-professional elite level. The result is the ability to provide athletes in the community a clear and direct pathway to elite levels of soccer. These changes offer Canadian soccer players, coaches and referees increased opportunities to develop skills from beginner to the elite level within a well-structured, predictable environment. The Pickering Soccer Club is an integral part of the Canadian, provincial and district soccer landscape. It is our intention to continue as a leader in soccer excellence on and off the field. COMPANY DESCRIPTION Business Description The Pickering Soccer Club is a registered non-profit organization that has served the Pickering community for over 27 years and is managed and governed by a 13-member volunteer Board of Directors. Canada Revenue#RP 860261510 0001 Mission Statement 8 Our corporate mission is "To create and enhance opportunities to participate,develop and excel in the sport of soccer." HISTORY AND CURRENT STATUS The Pickering Soccer Club(PSC)was incorporated in Sept 1984 and is governed by a 13-member volunteer Board of Directors. The Club is currently located at 1735 Bayly Street, Unit 14, in Pickering,Ontario. PSC employs four (4)full-time and two(2) part-time staff,and relies upon 500+volunteers annually. In the twenty-seven (27)years serving the Pickering community,the Club's focus has always been to provide soccer specific development programs to our members. Through the families of over 3,550 registered players, our membership engages approximately 18%of Pickering residents. In the 2010-11 fiscal year,our programs generated revenue of$1,307,000.00,and the projected revenue for 2011-2012 fiscal year is$1,238,400.00. GOALS AND OBJECTIVES • To support the City of Pickering council's mission for the health and wellbeing of the constituents in our community. _ • To promote a healthy lifestyle,provide high quality,year-round health and fitness programs and engage the adults in our community,providing a controlled,safe environment. • Create a destination facility that will actively contribute to the economics of the City of Pickering. • Fulfilling Club and community year-around soccer requirements;expand and initiate high quality development programs for our young athletes,improve the game and quality of soccer in Canada. • Redirect the$200K in annual facility rental costs that are currently being spent outside of Pickering by PSC members. • Pickering SC, a recognized leading youth club in Ontario must continue to provide leadership by example. • Encourage the continuity of soccer development within our Club and community. Due to the lack of indoor training facilities in Pickering and in Durham, members of the Pickering soccer community have been forced to travel outside of our region in order to continue to train and play during the fall and winter seasons. One of our objectives is to provide our players with opportunities to achieve all their goals and to excel in the sport of soccer. CRITICAL SUCCESS FACTORS The Pickering Soccer Club's goal is to manage all staffing and operations of the proposed indoor facility on a year round daily basis. 9 It is critical that the revenue generated in the 30-week period is sufficient to facilitate the repayment schedule. We must maximize facility usage between October and April,which is seen as the peak usage window on an annual basis,and ensure that year-round utilization of the structure is achieved. By appealing to a broad range of community groups and institutions,we will create an expanded revenue stream that will contribute to the success of this facility. Due to our long history and prominence in the community, our experienced management team, quality operations, systems,procedures, and programs,we have become a model for other clubs and one of the best soccer clubs in Ontario. An indoor facility will be critical in enabling the sustainability of the Pickering Soccer Club,fulfilling our vision for the future while meeting the challenges from competing clubs in the region and the GTA. Cooperation between the Pickering Soccer Club and the City during the design and construction phases will help ensure that the facility responds to the program needs of PSC and the Pickering community as a whole. 2. PROGRAMS AND SERVICES Pickering Soccer Club offers programs and services for Recreational and Competitive players of all ages. We break our offerings seasonally,so we provide summer programs and winter programs. For the Competitive or elite players,although their program varies seasonally,we still consider it to be a year-round commitment and year-round training/development. Though subject to new offerings,we traditionally offer the following programs: Competitive(Summer) Competitive(Winter) • Youth Academy teams for boys and girls • Academy Program U7-U8 • Futsal Program • Youth Representative teams for boys and • Goal Keeper Academy girls U9-U18 • Outside league/tourney/exhibition games • Adult Representative teams for men and for representative teams women aged U19 and up • SAT Preparation Courses(upon request) • All Star Program • Representative team training(upon • Summer Camp Program request) • Goal Keeper Academy • Conditioning Sessions through City of Pickering(KickStart Fitness) Recreational(Summer) Recreational(Winter) • Youth and Adult teams for boys and girls • Futsal teams for boys and girls from U6- aged U3-60 U18 • Recreational Academy Program • Special Needs Program • Special Needs Program • Conditioning Sessions through City of • Summer Camp Program Pickering(KickStart Fitness) Notel: In addition to the above noted"standard"program offerings, we also offer unique training sessions for both player 10 and coaching development. These sessions, while not occurring on a regularly scheduled basis, still require experienced administration including (but not limited to), scheduling, pricing, advertising, registration, and follow-up, both pre- and post-delivery. Note2: We also train and employ numerous referees annually. In addition to these programs,we provide soccer related services including(but not limited to): Participation assistance—our goal is that any Pickering youth who wishes to play soccer will indeed play soccer. In addition to programs sponsored through the City,we have in-house programs to raise funds to ensure that All Kids Play. Coach training—whether interested in coaching at the Recreational level or the Competitive level,we provide our coaches with training sessions facilitated by experienced club staff as well as by recognized outside authorities. Many of these sessions are free,some are on a registration basis and in many cases,we reimburse individuals if they are participating on PSC's behalf. Via our website,we provide online training manuals specific to our programs as well as access to industry accredited soccer specific portals(i.e.: Bytesize Coaching)with vast repositories of tools for our volunteer coaches. Referee training and mentoring—youth referee applicants are selected through an interview process and trained in the rules based on the age group to which they are assigned. We mentor our referees and encourage them to"rise through the ranks"within the region and province if they are so inclined. Volunteer training—we offer a vast array of training opportunities depending on the area of interest. Guidelines have been established for virtually all volunteers so that they are organized and effective in their roles. First Aid training—available at a minimal cost to PSC coaches and team administrators. SAT sessions—available upon request,typically provided to senior competitive teams. Community Service hours are offered to local students who choose to volunteer to be a coach,assistant coach or assist with office activities or club events. Internship Program—an established program to enable college students to earn their co-op hours with a non-profit or sports organization. This program is evolving to include local high school co-op students as well. Our Club website offers our membership up-to-date information on our Club policies, procedures, programs, facilities, and media updates, as well as provides an online portal for member registrations and inquiries to the Club. Club events and Media publications, related both to the soccer world as well as to the programs and experiences of the PSC world are available for all to see online. Local annual publications (KICKOFF)and coverage specific to our Club and our Region are linked and easily accessible. PROGRAM/SERVICE DESCRIPTIONS The Pickering SC program and service description information is available in detail on our website at www.pickeringsoccer.ca through the following links: 11 • Competitive Program (and associated Academy Programs and GK Program) - http://www.pickeringsoccer.ca/player development • Recreational Programs-http://www.pickeringsoccer.ca/programs • All Star Program -http://www.pickeringsoccer.ca/all star • Special Needs Program -http://www.pickeringsoccer.ca/special-needs • Coaching Information- http://www.pickeringsoccer.ca/coaches corner • Online Employment, RFP and Volunteer Opportunity Board- http://www.pickeringsoccer.ca/lobs and rfps • Frequently Asked Questions-http://www.pickeringsoccer.ca/faqs To receive detailed program/service descriptions in hard copy, please contact us at managerPpickeringsoccer.ca. 3. ThE MARKET INDUSTRY AND MARKEY ANALYSIS According to Wikipedia, "Despite the difference in popularity of their respective professional leagues, association football (known as soccer in North America) overtook ice hockey in the 1980s and 1990s as the sport with the most registered players in the country. In 2008,there were 873,032 footballers, compared to 584,679 registered hockey players in Canada in 2008-09." Source:http://en.wikipedia.org/wiki/Soccer in Canada#History. Major League Soccer,the top tier of the Canadian and American soccer pyramids, has continued to expand and there are now three Canadian teams participating in the league.The CONCACAF quarter final game in March 2012 at the Rogers Centre between the Toronto FC and the LA Galaxy drew a crowd in excess of 45,000 supporters. In early March 2012, Canada was officially named by FIFA as the host nation for the 2015 Women's World Cup-an event that will be held coast-to-coast in five different time zones and a minimum of six different provinces. Clearly,soccer is a growing sport in this country. Closer to home,we have reviewed indoor soccer facilities in the following OSA districts: • Durham Region S.A. • Scarborough S.A. • • Peel Halton S.A. • York Region S.A. • North York S.A. • Toronto S.A. Looking at their existing indoor facilities and doing analysis in the following 3 areas: • Regional area and population • Regional soccer registrants • Facilities availability/service level We are able to make the following Key Observations: 12 • Durham services the largest area and is 43%larger than the next highest region (York Region) • Although Durham is 5th in population,there are only 3 other regions that are significantly higher • Durham is only 9%of the population amongst all the regions, however we represent 18.1%of all registrants ranking Durham at#3 • 5.02%of the entire Durham population is registered to play soccer--the highest of any other region • With 18.1%of all registrants, Durham Region's indoor facilities only represent 14%of the available sq footage- none of which are in Pickering • Of the 165,747 sq ft of indoor facilities in Durham, Pickering's portion represents 0%. The two nearest Durham facilities with limited availability are Carruthers Creek(the smallest) and the DISC(the most expensive) In review, Pickering Soccer Club,as a member of the Durham Region Soccer Association is: #1 in service area to cover #1 in%of the population registered to play in any given Region #3 in number of registrants #4 in actual available sq footage- NONE in Pickering #4 in average available sq footage per registrant Please see Appendix A—Assessment.xls 13 COMPETITOR ANALYSIS There are a number of community clubs and limited number of indoor pitches within the Durham Region; therefore the clubs are constantly competing for the same peak time availability. The decision about which club to join is often based on the diversity and success of the program offerings, but also on the availability and quality of a year—round training facility. In an average fall/winter soccer season, our Club asks our teams to travel outside of the region to continue training and to participate in leagues. As a result some of our member teams are utilizing hours totaling over $217,000 per year,yet other teams must forgo winter training altogether. Indoor Training Facilities used by Pickering Soccer Club from 2004 to present 1. Disc-Oshawa-35 Km-$225/hour 2.Salem-Ajax-20 Km-$165/hour 3.The Docks-Toronto-85 Km-$220/hour 4. Clearlea Soccer Center-Toronto-60 Km-$195/hour 5. MLS Sportsplex-Toronto-60 Km-$150/hour 6. Metro Sport-Toronto-50 Km- $195/hour 7. Mount Joy-Markham-45 Km-$190/hour 8. Milliken Dome-Markham-50 Km-$220/hour &0U( 9.The Hangar-Downsview-80 Km-$190/hour 10.Ontario Soccer Center-Vaughan- 120 Km-$225/hour (Durham) 11.Oshawa Civic-Oshawa-35 Km-$125/hour 12 . Toronto Futsal Center-Toronto-60 Km-$160/hour 13.Golf Dome-Scarborough-30 Km-$220/hour uxteVe ____` \ w York Auras ng CD I S�oukvd.Scu9o9 Remand Caledon Markry P+ck.nn9 + thhtwt Gonngor &ampron 0 0 C C of •tr" •� © \.Toronto _ kilmassugs i Lake Ontario 14 4. MARKETING STRATEGIES AND SALES MARKET SEGMENTATION STRATEGY Pickering Soccer Club programs and services are structured to appeal to a vast cross-section of our community. Our market is not just the players, but all Pickering residents and the family members of participants who are willing and able to support their grass roots club and the registrants that benefit from our programs;without volunteer coaches,we cannot field Recreational teams. Thus, a successful indoor soccer centre must offer a comprehensive series of programs and opportunities that cater to a variety of needs. Although its primary objective is to fulfill the needs of the soccer community,the indoor facility will benefit the entire community. Throughout the year,during weekdays,the facility will be offered for use by pre-school,elementary and high school groups,and seniors' organizations (e.g.,for light exercise,carpet bowling, mom and tot programs, tournaments, indoor walking track etc.) as well as other sporting organizations. This diversity will maximize the facility's utilization,while making it multi-generational and multi-use. Utilization of the facility's time slots, outside of the hours used by the PSC,will be open to other local and regional groups including, but not limited to, league games, soccer practices and events,<field hockey, lacrosse, football, rugby and such other ancillary and complementary uses. TARGETING AND POSITIONING STRATEGY The indoor facility will be used primarily by the Pickering Soccer Club. Historically,a large number of PSC teams have spent well over$217,000 in user fees paid to privately-owned indoor facilities.With the new indoor facility, all PSC competitive teams will have a home in which to train and play during the fall and winter seasons. In 2012 we will be able to field 42 competitive teams. In addition, we will be able to offer new programs to our recreational and competitive players which will drastically increase the number of participants and the number of hours needed to run these new programs. Please see Appendix B—Summary Indoor Sched with Revenue Projections.xls Our marketing strategy will be directed to other sports organizations and community groups in our city and in our region. Sports such as football, lacrosse, baseball,and ultimate Frisbee,for example, cease to train and play during the winter because of lack of proper indoor training facilities. In addition, our marketing plan will also include soccer clubs and sport organizations outside of our region. North-East Scarborough, Markham and Unionville all have strong soccer and sports programs but also lack proper indoor facilities for winter training and winter play. PRODUCT/SERVICE STRATEGY The lack of quality indoor training facilities in our region coupled with the high demand for fall-winter training and playing time will certainly make the new indoor facility a highly sought-after and highly valued commodity. Our market research clearly indicates that indoor facilities that are managed and supported by a large community club can be profitable and very successful. 15 In addition,the ability to section the field in different configurations that can meet the needs of potential customers will dramatically improve the prospect of product success. PRICING STRATEGY In setting our pricing strategy and rental fees we have taken into account the following components: Peak and Non-Peak hours Peak hours(6pm to 12am) are in high demand and therefore we will be able to charge a higher fee. The fees for Non-Peak hours are discounted in order to entice potential customers to use the field during late evening hours and before 6pm on weekdays. Competitor's fees and programs We have done an in-depth analysis of our competitors'fees and programs offerings. Our hourly fees are in line with current market demand and rental fees charged by other facility owners. We are also aware that potential customers want the best value for their money,and thus they will almost always do a quality comparison and rent the facility based on the best price for the best value. In addition to providing first rate customer service,we can offer"added value"to potential customers in the following ways: 1. Provide clean and spacious dressing rooms with showers and lockers 2. Provide a restaurant/Tim Horton type facility where customers can purchase drinks and food before and after each event 3. Provide a quality playing surface that can be segmented into various configurations 4. Provide potential customers with quality equipment that will insure their safety and full enjoyment of their activities. Please see Appendix B—Summary Indoor Sched with Revenue Projections.xls PROMOTION AND ADVERTISING STRATEGY We start the registration process in January by emailing our 4,450, club members and encourage them to register early so they can benefit from the early bird special. We do a flyer drop through the News Advertiser that is delivered to 57,000 residencies in Durham and East Scarborough. 7,500 flyers are distributed through the Public and Catholic School Boards and a further 5,000 flyers were distributed to City of Pickering affiliated groups, Church Groups,Pickering Market, City of Pickering Recreational Centre, Pickering Town Centre,Day Care Centres and the Santa Claus Parade.We also advertise in the City of Pickering Leisure guide which is delivered to 27,000 homes in the Pickering community.We also cross promote with Baseball and Hockey Associations.We also use the 2 community newspapers Snap and the News Advertiser to reach the Pickering and Ajax community Much of the same advertising and promotional strategy would remain the same when we have a dome however there would be a lot more of dedicated specific marketing to adult groups and other groups that would be looking for indoor usage. 16 SALES STRATEGY The Club will inform The Durham Region Soccer Association of its intent to offer all other community soccer clubs in the region available time slots for their teams to practice. Through the Club's Technical Director and Business Manager they would communicate with the appropriate personnel at other community soccer clubs to encourage their teams to rent available time slots. The strategy to sell available track time would be to contact all track and field clubs,Schools and other professional organizations such as the Speed academy to offer available time slots. We are confident that we can provide non soccer related programs in our community and also provide field time for other user groups to fill a significant portion.We have worked and will continue to work with the School Boards to provide field time for their athletic programs. We will provide opportunity for the elderly in our community to enjoy our facility during daytime hours. The PSC will contact all other community organizations that would consider utilizing available indoor space such as all associated organizations that are affiliated with the City of Pickering,We would market and promote our service to Corporate Canada,Senior Groups, Public Service Groups, Day care Centres, City of Pickering, Boards of Education, College's, Universities,Special Olympics, Boot Camps and Scouts and Guides Groups.We would also cross promote with the following sports: Lacrosse, Field Hockey,Volley Ball, Marshall Arts, Ultimate Frisbee,and Indoor Lawn Bowles. This is supported by an excel spreadsheet called "Polish Dome sample" and needs to be cleaned up and made specific to our Club's strategy SALES FORECASTS Please see Appendix C—Revenue—Expense Projection by Month March 13 2012.xls 5. PLAYER DEVELOPMENT Research suggests"it takes 8-to-12 years of training for a talented player/athlete to reach elite levels. This is called the 10-year or 10,000 hour rule," --Dr. Istvan Balyi. The Long Term Athlete Development(LTAD) program is a model created by Dr. Istvan Balyi to guide the athletic development process from pre-puberty through retirement. An LTAD approach emphasizes age-appropriate skill acquisition to maximize the athlete's potential and builds progressively throughout a player's career moving to more detailed instruction as he or she reaches the next level. Children progress through different developmental stages;the LTAD model reconciles athletic development with natural development. An LTAD plan creates a gradual progression where coaches teach athletes the game in stages, rather than all at once, coordinating the instruction and programs with the athlete's motivations and developmental phases. Dr Balyi's Late Specialization Model consists of 6 different stages which will be the standard for soccer development in Canada moving forward.This mandate has come from Sport Canada and will be filtered down and administered to every sport. The PSC has been honoured as one of the top community soccer clubs in Ontario by the OSA, and as a recipient of the Club Excellence Gold award, the PSC is more than capable of providing the leadership, knowledge and 17 support to bring these opportunities to our young players. However, our Canadian climate does not afford us the opportunity to offer year-round programs. Training in the winter months is limited to school gyms and facilities well out of the Durham Region. Some teams who cannot afford the high cost of facilities outside the region end up without training for the entire winter which ultimately adversely affects athlete development. DEVELOPMENT STRATEGY Our past is littered with success stories,our present filled with prosperity in the changing landscape of the game in this province and this country, and our future is filled with optimism and vision for a great contribution to our members and the community in which we live. The PSC has enjoyed a National Championship and has placed 3 players on the Canadian National team vying for a spot in the 2012 World Cup... a testament to the hardworking coaches and the direction and support of the Club. We can provide all of our 2,900 recreational members the opportunity to play winter soccer. (Only 625 played indoor last season due to the lack of proper facilities.) We can provide our 600 competitive players the much needed local facility space to train and develop by providing additional cost-effective training time, and also providing development opportunities for their coaches. 6. MANAGEMENT COMPANY ORGANIZATION The Pickering Soccer Club is a non-profit organization, dedicated to providing a variety of comprehensive programs dedicated to teaching children the values of lifelong fitness, teamwork, leadership skills while leading a healthy lifestyle. PSC is governed by a 13-member volunteer Board of Directors, and operated by four(4)full- time and two (2) part-time staff, seasonal staff, temporary contractors and numerous volunteer coaches, referees, counselors, student and parent volunteers. (For a complete list of job descriptions please contact the Club Secretary) The Club offers a wide variety of seasonal programs which are continually refined to offer our members a maximum of benefits at a cost effective price. All revenues brought into the club are used to offset the cost of programs for our members. Members of the club include the players and parents or legal guardians of players under the age of 18, coaches,team officials, and directors. We also maintain a reserve fund in order to finance new projects as they arise,such as funding our outdoor turf field in 2008 and an indoor facility in South Pickering planned for 2013. Our financials are approved yearly by our membership at an Annual General Meeting and are independently audited annually. 18 MANAGEMENT TEAM Pickering Soccer Club Management Tony La Ferrara—Head Coach As head coach of Pickering SC,Tony's responsibilities include player, coaching, and Club development. Tony joined PSC in 2003 as a part-time Club head coach. He became full-time in 2006 after retiring from his high school teaching position. Tony holds a Provincial B license and has received the Director of Coaching Diploma from the National Soccer Coaches Association of America. He is a former Provincial Coaching instructor and for 6 years has held the position of Coaching Director and Technical Adviser for the National Soccer Coaches Association of Canada. During his 35 years involvement in soccer,Tony has coached at the university, college, high school, and club levels,winning numerous Provincial and National championships. In 1993, as a Provincial coach, he was a co-coach with the Women's team at the World University Games in Hamilton. He has coached London City and the North York Astros in the Canadian Professional Soccer League, and coached the CPSL All Stars against the U21 National team of Morocco and Marittimo of the Portuguese First Division Professional League. Tony was a colour commentator and soccer analyst on CFMT and TLN Television during the World Cups of 1990 and 1994 and the European Championships in 1992 and 1996. Additionally,Tony has been a technical writer for Inside Soccer magazine as well as a consultant and a mentor with a number of youth and senior clubs in Ontario. Paul Jackson—Business Manager Paul Jackson has over 20 years of practical &extensive management experience providing leadership and direction for successful business development. Paul's past experience include ownership of a design and manufacturing company in the garment industry and non-profit experience administering government funded programs to a diverse clientele for a prominent community agency. For the past 10 years Paul has worked in the sports administration field for 3 community based soccer clubs in Mississauga and Durham region.Some of Paul's strengths are but not limited to Project Control Management, Sales & Marketing, Generating Sponsorship Revenue, Budgeting& Financial Management,Team Building& Leadership and Scheduling& Event Co- ordination. Paul also has an extensive Soccer and coaching background and understands very well the challengers that community soccer clubs are faced with in providing affordable and well run programs to its members. Pickering Soccer Club Staff David Lord—Recreational Program Administration 19 A native of Lachine, Quebec, Dave is a graduate of the University of Western Ontario with an Honours BA in History and a Bachelor of Education. His soccer background includes coaching at the Rep level in Guelph in the 1980's and working with the Hamilton Steelers of the Canadian Soccer League in 1987. Dave currently coaches his two children at the Recreational and All-star levels. Dave's background includes working with the Guelph Platers and Owen Sound Platers of the Ontario Hockey League as the Club's Director of Administration and Player Personnel from 1987 to 1996. Dave was the Canadian Hockey League's Director of Information/Special Events from 1998 to 2003. At the CHL Dave directed national events such as the MasterCard Memorial Cup,the Home Hardware Top Prospects Game and CHL All-Star games. From 2004 to 2010 Dave was the General Manager of the Brampton Youth Hockey Club. With over 3500 players,the BYHA is one of the largest organizations in the Ontario Minor Hockey Association. Prior to joining the Pickering Soccer Club, Dave was the Business Manager of the North Mississauga Soccer Club. Nina Cancellara—Competitive Program Administrator Nina has worked with PSC for 6 years and has volunteered as a competitive team manager for close to 15 years. In her role as the Competitive Program Administrator,she is the focal point for all Competitive team administration. Isabel-Rauh-Wasmund—Bookkeeper Isabel has been employed in the role of Accounting/Bookkeeping Administrator for the Pickering Soccer Club since 2003. Prior to taking on the role of bookkeeper, Isabel had many years of experience working in the financial business sector as a Customer Service and Loan's Administrator/Manager. As a mobile bookkeeper for a wide-range of industries, Isabel has routinely upgraded her programming and accounting skills to remain current with the ever changing technology and accounting principles and government regulations. As the Accounting/Bookkeeping Administrator for the Pickering Soccer Club, Isabel has customized and implemented accounts as required by the various program initiatives; budgetary requirements; and/or directives from the PSC Executive. Isabel organizes, records, reconciles and maintains the financial practices necessary to ensure responsible and accurate accountability. She also calculates and processes Pickering Soccer Club payroll and government remittances and liaises directly with the Treasurer with respect to the ongoing financial management of the Club as well as, communicating with the Auditor regarding Year End Financial Statement preparation. With children of her own that have and continue to participate in club sports, Isabel appreciates and respects the culmination of ideas, initiatives,sportsmanship, record keeping and working together as a team in providing opportunities and experiences for our future population. Christine Donaldson—Special Needs Program Coordinator 20 Christine is a 4th year BA undergraduate student at the University of Toronto who recently joined the PSC bringing her experience in working with children to our Club. She has taken courses through Special Olympics Ontario and is pursuing a certificate in American Sign Language and is attending Teacher's College in 2013. Pickering Soccer Club Volunteers Over 100 Competitive team officials,over 400 recreational team coaches, and seasonal volunteers are hard at work annually to ensure we provide the best possible soccer experience for our membership. Pickering Soccer Club Seasonal staff In addition to a seasonal contract for field linking,we have a small number of paid seasonal staff(part time and students)and coaches, summer camp volunteers, and event volunteers for activities including:Club Festival/Picture Day, Movie on the Pitch,the Mayors Cup, parent LTPD education seminars, Recreational Year End tournaments(including MicroFest) and more! Pickering Soccer Club -Board of Directors-Executive Phil Frampton—President Phil has been associated with the PSC for over 20 years as a Parent, Recreational Coach, Competitive Coach, Referee, Referee Instructor, Board member and currently President,as well as playing the odd game here and there! Phil's four daughters have all played at the competitive level for the PSC and continue to play in their adulthood. Phil was first elected to the PSC Board as Head Referee, overseeing the club's referee training, mentoring and assessment programs. After serving two terms, Phil was elected as club President in 2010. Phil has overseen the re-structuring of the club staff, and the introduction of new systems to enhance the overall efficiency of our program administration to our members. Phil's business background is in the IT and engineering industry where he has held various senior positions in Sales and Marketing. He is currently employed in the engineering field working on projects with multi-national customers. Phil brings wide business experience to the club in its on-going endeavors to retain its Gold-level Club Excellence status within the province, and its commitment to grow as a prominent program provider to the residents of the City of Pickering. Corrado Roccasalva-Vice President Corrado has been a volunteer with the Pickering Soccer Club (PSC)for the past ten years. His 2 boys have played with the Club since age 4 thus his involvement began as a coach in 2002. He progressed to coach at the OYSL level as well being part of the Technical Team Staff. Corrado joined the PSC Board of Directors in 2005 as the Club's Secretary. He was later voted in as Executive Vice President where he is currently serving his second term. His responsibilities include the overseeing of current facilities as well being the PSC's contact person with the City of Pickering in our efforts to secure an Indoor Soccer facility. 21 Corrado is currently employed by a National, Packaged Consumer Goods Company located in the city's west end. His 24 year tenure is a testament to his commitment and loyalty, something that has remained consistent in his involvement with the Pickering Soccer Club. In his role as a Sales Executive Corrado manages the day-to-day business of two prominent National Businesses,as such the experience in his field of business has proven to be invaluable to the Pickering Soccer Club. Vacant, Phil Frampton Acting—Treasurer Lisa Fernandez- VP Operations/Webmaster With two children involved in soccer over 15 years with Pickering SC, Lisa has participated not only as a parent and supporter, but also as an office volunteer, a coach and assistant coach, a sponsor,and since the 2008-'09 season, as a volunteer Board member and the Club's webmaster. Lisa has been heavily influenced by years of experience in accounting,administrative support,software training, and customer service management in call centre/help desk settings;environments that are all constantly evolving with new technology. As a mature student, Lisa excelled in the Court and Tribunal (Paralegal) program,simultaneously training in Dispute Resolution and Conflict Management. Given her background, it is no surprise that Lisa is committed to the Club goals of providing excellence in all facets of the programs we provide to our community while promoting and maintaining superior levels of customer service for our membership. Lisa has provided significant contributions to Club projects including the implementation of our current website and the recent introduction of our new Registration and Administration software. Clifford H.Schmitt—Board Secretary Cliff has been actively involved with the Pickering Soccer Club since 2002 as the parent of 2 competitive players working as a volunteer,fundraiser, a competitive team manager,and has held a board position for the past 3 years. An experienced small business owner and manager Cliff has been employed in the Wireless, Urgent Communications, Pro Audio, and Consumer Electronics industries for over 35 years developing significant Business Planning, Marketing,Sales, Project Management,and Merchandising skills. Personable and direct, he latches onto a challenge with tenacity. A Microsoft Office expert with considerable IT experience, Cliff's biggest assets are his ability to analyze and develop strategies to creatively overcome obstacles, his proactive ability to plan, organize, and follow up make him a valuable tool to manage customer and supplier relationships. Employers and colleagues will attest that he is strongly engaged, is service centric, resourceful, and determined. Pickering Soccer Club Board of Directors Gord Smith—Boys Competitive Director 22 Gord has 25 years of experience in the high tech sector with a number of leading software and professional services firms. He has held positions in Sales, Marketing, Industry management and Operations with leading firms such as SAP,Siebel Systems and Deloitte. Currently, Gord is a partner of Ideaca, an IT consulting and advisory firm with offices across Canada. He has been with Ideaca for over 5 years and is responsible for operations,sales and national marketing. Gord has been a longtime supporter and volunteer of the Pickering Soccer Club and has coached with Pickering for the last 8 years at the competitive, All-star, and house league levels. Gord has a BBA from Wilfrid Laurier University and MBA from the University of Windsor. Gord also is a member Alrtuvest Board Match leaders program for non-profit boards. Franco Taverna—Boys Competitive Director Franco has lived in Pickering since 1994 with his family. Franco joined PSC as a coach of his son's U6 recreational soccer team in 2002. Since then, he has coached both recreational and competitive soccer the last 10 years. He is currently a team official for his daughter's provincial level OYSL U14 girls'team, and will have another soccer player joining the club when his 3 year old son starts playing very soon. In 2006, Franco joined the Board of Directors and has served as Girls Competitive Director ever since. Along with the Boys Competitive Director and the Club Head Coach, Franco has worked to enhance our Competitive program, providing many new programs aligned with the CSA's Long-Term Player Development Strategy. In the fall of 2008, Franco founded the Pickering Soccer Club's Special Needs Soccer Program that has since grown to 50 athletes and a like number of volunteers. The program caters to children and youth with exceptional needs; providing 1:1 coaching and mentoring. The program was awarded a large •Ontario Trillium Foundation Grant to grow and develop standard practices for athletes and volunteers. It has become a model program for other organizations to follow to provide much needed opportunities for community members in the most need. Franco was awarded a 2011 City of Pickering Civic Award for his work in the program. Franco is a Lecturer at the University of Toronto in the Human Biology Program. He teaches courses on Neuroscience, Health and Disease, and administers the undergraduate research program that provides 110 students with opportunities to engage in research projects in science labs across campus. He earned a Ph.D. in Molecular Neuroscience from the Faculty of Pharmacy, University of Toronto,and was a Research Associate at Mount Sinai Hospital for 10 years prior to beginning his lecturing career at the University. Liz Keen—Indoor/All Star and Events Director After moving to Pickering in the winter of 2001 Liz's daughter became a soccer player the following season. Right away Liz started to volunteer as a Coordinator,and not long after, became a Director (volunteer board member). Liz started coaching in the Indoor program in 2005 and has coached a team every year since then. She also assists with summer coaching. Liz's daughter is also involved in the All Star program where Liz serves as a co-manager of the 1996 Girls'team. Liz has also been involved in the Guiding movement as a leader and Trefoil Guild member for several years. 23 Liz also has a son who plays hockey and Liz has been active there as a team Manager when he played in the Select program. Currently employed by a plastics manufacturer located in Scarborough, Liz's 23 year tenure there is a testament to her commitment and loyalty,something that has remained consistent in her involvement with the Pickering Soccer Club. Liz has good organizational skills and a good understanding of accounting which has been of help to the Club in ensuring that her programs are all self-sufficient. Liz, along with staff support, initiated the now annual All Star Friendlies in 2011 where All Star teams from various areas in Ontario can come together to play at an elevated level in a non-pressure environment. Roz Lavoie—Special Projects Roz Lavoie has been a soccer volunteer for over 12 years and has been associated with the PSC for over 9 years as a parent,team manager and Board member. She continues to manage her daughter's senior women's team and also manages the Club's GK Program. In 2009,she was awarded the DRSA Volunteer Recognition Award for her contributions that including the work she managed to make the PSC one of the first Clubs to receive the Gold level Club Excellence Award. Roz has over 25 years of practical &extensive project management experience providing leadership and direction of technology implementations, as large as$20million. She is currently employed by a major financial institution. Mario lozzi—Head Referee Mario has been an educator for twenty-seven years;the last twenty-four years have been at Dunbarton High School (mathematics). Mario holds an Honors Specialist in Physical and Health Education degree from the University of Toronto as well as a Special Education Specialist certification from York University. Mario has been involved as a volunteer in various roles at the Pickering Soccer Club since 2006 and the Club's Head Official (referee)for the past 1-1/2 years. Mario was re-elected at the 2011 AGM for another 2 year term and enjoys the challenge his time consuming role with the Pickering Soccer Club offers. Gino Sgovio-Micro Director Gino has lived in Pickering for 30 years and has two daughters who play with PSC in U7 and U13. Gino has been around the Club since his childhood,growing up playing within our Recreational,All Star and Rep programs. He was coached by his father, a big soccer fan,and grew up with a soccer ball attached to his foot. From the late 80's Gino has been an active member of PSC,taking a break after college and then returning to start coaching his own kids as he watched his family grow. He also continues to play and has joined the newly started PSC Recreational Men's league. Gino plans to continue coaching with PSC and to grow his coaching portfolio by adding coaching certifications and further developing his understanding of the game with an eye toward coaching within 24 our Competitive program once his own kids are older and decide to move on, or start volunteering in the club as he has. As Director of Micro Soccer for U3—U8, Gino supports the LTPD vision of building athletes at young ages and promoting fun first through the sport of soccer. Working with the Speed Academy to provide regular sessions for our young teams guiding them to run,jump and throw with a variety of different fun games,Gino aims to ensure every child benefits from 100%participation within a team sport. Gino is self employed as a Realtor for TRECO Real Estate and typically sponsors the teams his daughters play with. A very community driven resident of Pickering, Gino also ran for local office (Separate School Board Trustee) in the 2010 election. • Lisa Soltermann—Mini Director As Mini Director at the Pickering SC, Lisa takes responsibility for the boys and girls recreational teams between the ages of 9 and 12. Lisa has been involved with the club for over 10 years as a player, coach, referee and a board member. She has been playing soccer for 25 years starting off as a recreational player and later moving to the competitive side. She has coached recreational girl's teams between the ages of 8 and 10 for 8 seasons. She is currently a District Referee with the DRSA as well as the Pickering SC. Lisa is also on the Discipline committee for Pickering SC and for Durham Open Ladies Soccer League (DOLSL). Lisa attended Trent University and graduated with an Honours, Bachelor of Science in Psychology as well as a Bachelor of Education. While at Trent she played on the varsity team, and was team captain for two of her four years. She is currently employed as an Occasional teacher in the Peterborough Separate School Board and the Durham Separate School Board. 25 • MANAGEMENT STRUCTURE AND STYLE Pickering Soccer Club 2011 Board,& Staff rEff President Board Boys Girls indoor, tournaments competitive competitive &Events Pas TRrne Executive VP Treasurer Secretary Vice President Operations I Micro Recreational Recreational ---- Recreational Full field Mini field Past Head Special President Referee Projects Business Manager I-- Head Coach I Recreational - Recreational& Administrator/Volunt Campetlee__,admnmremr Player Technical Team Facilities,averm eer Coordinator development --_ Website and ' Spansorshic& District/Region/Lea Summar Ca Ceenh Training Special free. Shared based on mP . Bookkeeper Media stream goes Recreational Competitive Registration/Sport Specified Registration/Sport Clinics Coaches Inve ntary Branding avv/AIMS 112 nts Saw/Alms Barre anon al Temp&Seasonal Tournaments Discipline Staff excluding Funs' Academy • Staff Training Fundraising I coaches Team Creation Screening ( TeamdccounO Juggling Club Showcase IT&Phones Maintenance IVolunteers 1 } Rep 1`exc I udirg toadied Irvoiciag `—Pan orsh ipifu ndr Purchasing Facilitat airings Game,Ref&Field Scholarsh' & &Gym Scheduling Uniforms showcase Program Board Meetings �5 M3rag.mEYlt ?wards OWNERSHIP The Pickering Soccer Club is a non-profit organization,wholly owned by its members. 7. OPERATIONS In the regular course of business PSC registers member applications for the relevant season (indoor or outdoor) and the program they wish to pursue. Registrations are completed on line at www.pickeringsoccer.ca via SportsavvyTM or in person at the PSC office. Online payments are accepted by MasterCard or Visa and walk-in registrations(at the clubhouse) may be done using cash, Interac(debit), MasterCard,Visa,or American Express. With registration sufficiently under way, our experienced Club administrators use an administrative and scheduling program (Sportsavvy)to rate players, assemble teams,track screening and certification processes, assign coaches, schedule games,assign referees, manage and assign facilities(fields and gyms), and prepare team/game paperwork(rosters and game sheets). Sportsavvy even enables the administrative staff to communicate directly with specific user groups. 26 Our Special Needs program has unique scheduling requirements in that the locations at which they practice and play must be those which are fully accessible to a range of distinctive needs for our athletes. Just as their activities are tailored to provide a special program with a 1:1 coach to athlete ratio,the coaches and program volunteers have specialized training so that they are ideal to provide the best experience possible to these gifted participants. Tournaments operated by the club include an end of season Microfest,our Youth Year End Tournament(for Mini and Full Field age groups),the annual Mayor's Cup and our newest annual tournament, our All Star Friendlies. Some of our tournaments are operated based on a fee for participation while others are included as part of the season program fees. Every recreational member of the Pickering Soccer Club experiences a festive year end atmosphere to cap off their season of fun! Players enrolled in our Competitive programs play and train year-round. The outdoor competitive soccer season traditionally starts around the end of May and continues to the end September.At the end of the outdoor season,following fall tryouts, all competitive teams move into an indoor training facilities to continue to develop their skills and prepare for the next outdoor soccer season. Competitive players at various age levels enrolled in our programs have the opportunity to represent the Province of Ontario and the Canadian National Soccer Team. In addition,a large number of players train towards gaining placement in a Canadian University or College,obtain a scholarship offer to U.S. Universities or Colleges,or play professionally in a Canadian or International League. OPERATIONS STRATEGY From our location on Bayly Street, with a full time staff of four, our Club delivers developmentally appropriate recreational and competitive soccer programs utilizing the skills and commitment of hundreds of volunteers supported by a dedicated professional staff. We are an equal opportunity employer. Our operations will be relocated to the domed facility as a cost effective way to maintain the predicted hours of operation. Given that the facility may be open for as many as 18 hours daily on Saturdays and Sundays, additional supervisory staff and reception help will be required. As illustrated in our Organizational Chart we have two club administrators, each responsible for a line of club programs and their administrative requirements. However, as it pertains to our field scheduling for all of our in- house program needs AND our external league needs, we rely on one individual to oversee the facility scheduling. The other administrator becomes a "back-up" to the lead role. With an excess of 350 teams needing a place to play over a 16 week summer season or 26 week winter season, we rely upon the precision and accuracy of this role on behalf of the whole club. The SportSavvyTM facility scheduling module provides our administrator with a powerful tool to perform this vital function. Both outdoor and the new indoor field bookings will be managed during our regular business hours through the current administration stream for PSC competitive and/or recreational programs as well as those from outside user groups. A master facility schedule for the Club will be maintained for all facilities/fields and will track facility time slots. Facility slots can be allocated by quarter, half or full field. If necessary,each field segment can also be blocked off for specific schedule restraints. 27 SportSavvy also provides dressing room scheduling, manual single game scheduling including the ability to re- schedule from rain outs, as well as tournament scheduling. With such a robust tool, PSC is able to track full- or partial- field rental revenue, with the ability to oversee club-wide booking assignments. This enables us to identify any double-bookings and if applicable, reallocate any un-used facility time slots either indoor or out. SCOPE OF OPERATIONS Operationally, Pickering Soccer Club processes over 4450 registrations per year in a typical year. Though subject to new offerings,we traditionally offer the following programs: • Competitive Outdoor(Summer) • Competitive (Winter) • Recreational Outdoor(Summer) • Recreational (Winter) As shown in section 2,each of these divisions has been sub-divided further into specific program offerings. With the introduction of an indoor soccer centre,we will expand and improve upon our current programs as well as establishing new ones that meet the growing needs of the soccer community such as: • Expanded the current Recreational and Competitive programs—fall and winter • Introduction of evening Adult leagues U19+ • Introduction of Youth leagues U12-U18 • Run,Jump,Throw for U3-U6 • New winter Recreational Academy program for U5-U12 • New LTPD development programs for youth aged U7-U12 • Holiday programs (i.e.: March Break,Christmas, Family Day) • Physical literacy programs • Running track for speed training ONGOING OPERATIONS As a non-profit organization, Pickering Soccer Club is bound by specific legislated operational parameters. Further, the ongoing club operations and management by the Board of Directors and employees are guided by extensive policies and procedures which may be reviewed in detail by clicking on the links below. Pickering Soccer Club By-Laws Pickering Soccer Club Code of Conduct • Pickering Soccer Club Policy Manual Pickering Soccer Club Zero Tolerance Policy OSA Discipline Policy 28 As with all of our fully disclosed policies, any new policies specific to the Dome operations will be created and approved before the official opening in 2013, and will also be made available on our website. OPERATIONS EXPENSES Please see Appendix C—Revenue—Expense Projection by Month March 13 2012.xls PERSONNEL In addition to moving our main office and staff to the dome we anticipate the addition of one (1)facility supervisor and two (2) part time seasonal staff to extend the hours of operation to allow access to the dome during booked times throughout the day and evening. We are estimating the dome to be in operation 7 days a week, 16-18 hours per day during the peak indoor season. Scheduling of the facility will remain within the domain of our experienced administrators. LOCATION The City of Pickering has acquired property at 1995 Clements Rd, near the intersection of Squires Beach Road and Clements Road, earmarked for their new operations centre. The City has allocated approximately 5 acres to be the home of the Pickering Soccer Centre. Given the proximity of the soccer centre to the operations centre, there are expected synergies between the two facilities,for example, parking, lighting, landscaping. With the industrial landscape of the neighborhood, an air-supported structure accompanied by a clubhouse is a feasible cost-effective,solution that conforms to the requirements of the area. The"bubble" totals 100,000 square feet and the attached brick and mortar structure is expected to be 7,000- 8,000 square feet. With the proximity to the City centre,the facility will be easily accessible by car from highway 401 and from the 407 to the North. Durham Transit buses run regularly across Bayly Street and Clements Rd. is 1 kilometer south to Clements Road. FACILITY EQUIPMENT Primary equipment anticipated to be acquired specifically to run the dome: • Turf grooming brushes • Scoreboard and clocks • Mesh curtain dividers • Player/fan benches • Portable goals—4 full size and 8 mini SUPPLIERS Current Key Suppliers to the PSC: • 29 • Axis Sports Group (Admiral)for our apparel and equipment needs • SportSavvy for our Club Administration and Program Management • RAW Web and Email Hosting • EC Help for Webmaster services • Sporting Images for our photography needs • Nothers Trophies and Premier Trophies • Director's Insurance and Property Insurance are both provided through Hub International. CREDIT POLICIES - We do not have a history of borrowing, nor do we extend credit as a Club. Bad debt historically tops out at no more than 1%of our total revenues. Our Competitive team finances are closely monitored with each team running a standalone budget and bank account. - The Pickering Soccer Club procedure requires that expenditures anticipated to exceed$100,000 must go to Request for Proposal. We post any RFP's on our club website. Budgets are approved annually by the Board of Directors, and as a general practice any expenses that arise that are not already budgeted for must go through the proper approval process. By Law 8.7 regarding Budget Revisions stipulates, in part: No change may be made in the budget approved by the Board of Directors of the Club, nor shall any specific budgetary allotment be over expended by more than 10%of the budgetary amount, nor any transfer of funds between specific allotments be made without approval by a two thirds (2/3)majority vote of the Board. LEGAL ENVIRONMENT The Pickering Soccer Club is a member of the following governing associations: The Durham Region Soccer Association,The Ontario Soccer Association,and The Canadian Soccer Association. As members in good standing,we are directed by each organization's rules and regulations. A by-product of these relationships is that we benefit from arrangements for group insurance and if necessary, legal assistance. 30 8. FINANCIALS The PSC is a non-profit organization that has operated on the basis of accumulating small surpluses to ensure its current needs were met and to help fund future capital expenditures. FINANCIAL HISTORY AND ANALYSIS The PSC revenue has more than doubled in the last 10 years(2002-2011)through the addition of new programs and increases in member registrations while keeping annual registration fees low and controlling expenses. Meanwhile we have steadily allocated funds to our facility reserves, allocating funds in 2007 for the outdoor turf field,surviving the effects of the economic downturn in 2008-9 and restoring the reserves to former levels. Over the past decade our Revenues/Expenses are as follows: Fiscal year ending September Revenues Expense Reserves 2002 638,365 588,774 355,629 2003 654,842 592,589 410,003 2004 743,328 723,615 340,338 2005 841,623 788,389 397,148 2006 782,464 827,704 359,288 2007 944,232 989,943 325,037 2008 1,159,742 1,207,574 281,851 2009 1,145,672 1,159,189 190,334 2010 1,305,291 1,226,056 269,569 2011 1,306,670 1,250,371 327,869 Ongoing improvements in financial management systems of the club and in the club's procedures and processes have occurred as well as adding a contract bookkeeper. For example, in 2009-2010 fiscal year the club initiated a new competitive team banking process. In the past,some competitive teams,which are funded separately by the players and their families,failed to fulfill their seasonal financial obligations leaving the club responsible for the shortfalls. CURRENT FINANCIAL POSITION The Pickering Soccer Club's audited financial statements for the fiscal year ending September 2010 and September 2011 are attached. Please see Appendix D—2011 PSC Financial Statement For the 2010/11 fiscal year,the PSC's revenues exceeded its expenses resulting in a surplus of$56,299. As of September 30, 2011,the PSC had a net asset balance of$327,869 of which$262,926 was allocated to the Facilities Fund. 31 The PSC approved its 2011/12 budget last December. A total of$1,387,875 was budgeted for revenues and $1,350,067 for expenditures.The Club's anticipated surplus is$37,808 of which$23,200 is to be allocated towards the Facilities Fund. Although the PSC operates programs throughout the year,the Club's cash flows and collection of revenues are influenced significantly by seasonal factors. In the fall and winter months,the Club experiences a net cash outflow as a large portion of its revenues are collected from February to June for the summer soccer season. In the winter months,a number of expenses for the summer soccer season are prepaid which also contributes to the negative cash flow. During the fall and winter months,the PSC is required to use a large portion of its net assets allocated to the Facilities Fund to meet the Club's cash requirements as discussed above. Once the bulk of the summer soccer registrations are collected,the net assets are returned to the Facilities Fund, which typically occurs in April or May. The PSC's 2011/12 winter programs are coming to a close and their financial results are very favourable. Program revenues have either been reached or exceeded and overall program expenditures are within budget. OPERATING FORECAST This operating forecast is based on full operations commencing by the first week of October 2013. Opening the facility for business by early September is crucial. We will have moved our offices and warehouse to the new building and have set up all fittings related to the soccer field rentals. We should dry run the field rentals and use of the brick and mortar for 2-3 weeks by the official opening date(October 1, 2013)so that we can work out the kinks. The PSC budgeting process that begins in September of 2013 (for the 2013-14 fiscal year)will incorporate the estimated facility fees to be collected prior to the October 1st start date. The PSC will begin marketing, advertising, and establishing leagues in the spring of 2013 so that all available peak time and non-peak time space will be presold. Please see Appendix C—Revenue—Expense Projection by Month March 13 2012.xls Our facility financing is covered by the revenue sources that do not include those cited below: • We anticipate operating a snack bar service during peak hours and have allocated space but have not included any revenue from sales projections at this time. • We plan to offer strength and agility training and the facility plans include track which will also be available but we have not included any revenue from sales projections from this source. • Sponsorships will be actively pursued once we have the go-ahead,and funds will be raised during the period between the facility approval and the grand opening. • Our facility financing is covered by the revenue sources cited below: 32 o The club has projected$163,020 in monthly peak time facility rental income over a period of 30 weeks for an annual total of$1,059,630 o The facility will operate at approximately 90%capacity of peak hours and 30%capacity of non- peak during the fall and winter(October-April). During the months of May and June,we anticipate 10%of the peak time to be utilized. Please see Appendix C—Revenue—Expense Projection by Month March 13 2012.x!s BREAK-EVEN ANALYSIS Please see Appendix C—Revenue—Expense Projection by Month March 13 2012.xls INCOME STATEMENT Please see Appendix C—Revenue—Expense Projection by Month March 13 2012.x!s CASH FLOW Please see Appendix C—Revenue—Expense Projection by Month March 13 2012.xls 9. CAPITAL REQUIREMENTS The total cost of the facility will be$4,900,000 and will be repaid to the City by the Pickering SC at a cost of 3.5% per annum payable over 15 years at$35,222 per month. The PSC will receive a mortgage for 100%of the facility loan. The facility loan will cover the domed structure, the 7,000 sq.foot attached brick and mortar building, as well as all access airlocks, lighting fixtures, HVAC equipment, and any other mechanicals required to bring the complex to a fully operational (and fully accessible) "move in" state. The existing Pickering Soccer Club facilities fund will be used as a contingency fund to cover startup costs and to acquire special fittings that are not covered by the mortgage such as: • Reception area/dining TVs, advertising and information system • Emergency signage • Electronic and wireless communications systems and enhancements • Bleachers • Staff uniforms • Special fittings for other sports as required • Food and beverage equipment • Office furniture 33 ft.® I K/ P RTU 1TY Opportunities: • The facility will be offering one of the few full field rental opportunities in the GTA and will be a domed full field (270ft x 375ft) and a 60 meter,3-lane speed track. Any smaller sized field and our numbers will be dramatically affected. • PSC will allocate a portion of any proceeds to a facilities fund every year that will be used to accelerate the early payment of the mortgage if possible. This apportionment of the proceeds allows us to set aside funds to address maintenance and prepare for future replacement costs. • A 7,000 sq.foot permanent structure will be attached (office,change rooms, etc.) The PSC will relocate their Clubhouse to the brick and mortar office space. Our current rental payments are $4300.00/month for 1735 Bayly St. • Property taxes will be waived by the City of Pickering, education and the region. • All utilities connections, all building permits, all consulting fees,site surveys,soil samples, and design fees will be covered by the City enabling the PSC to maximize on revenue and repayment obligations • NOTE: Utilities and maintenance have been estimated based on information from other comparable facilities and we have used an equal billing payment Risks: • If interest rates rise, payments will be affected. • If the above agreements with the City change (taxes,utilities,etc.)our profitability will be impacted. • The PSC believes that there will be minimal risk to filling the peak-time hours with our current programs and members. Any risk could easily be mitigated by opening time slots to other clubs, communities or individuals. The competitive risk is also mitigated by the lack of field time available from any other facility in Durham to anyone outside their own club.Our own teams will have a cost advantage by training, not to mention the reduced travel cost. Quite simply,the demand far outweighs the supply. • Failure to meet the deadline and be moved into the facility by September 2013 and ready to rent the dome space no later than October 2,2013 will jeopardize the achievement of our revenue targets. • Peak time hours must be run at 90%capacity through the winter(October-April),30%capacity in May through September to meet revenue targets. • Any change in HST relief. 34 11. APPENDICIES APPENDIX A Assessment.xls APPENDIX B Summary Indoor Sched with Revenue Projections.xls APPENDIX C Revenue—Expense Projection by Month March 13 2012.xls APPENDIX D Winter'11-'12 facility use and Cost to PSC teams.xls APPENDIX J Competing Clubs and Facilities.xls APPENDIX L Indoor Facility Construction Costs.xls APPENDIX K Energy Consumption—Dome APPENDIX I 2012.03.13 HUB Intl Ins APPENDIX E PSC Sept 2012 Income Statement.xls APPENDIX F 2011 PSC Audited Financial Statement APPENDIX G 2010 PSC Audited Financial statement APPENDIX H 2009 PSC Audited Financial Statement APPENDIX M Mortgage Payment 4.9 million paid weekly 15 years APPENDIX N PSC LTPD 2012 (see PowerPoint in soft copy) 35 >. c Ln ,.c (-,J (_-) '3 ,-, CO 0 C .:‘:c0:C _•C C C 0. 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I— U 0 0 Q. = CO l 7-Indoor Facility Construction Costs.xlsx Amount to Borrow Indoor Facility Construction Costs Air Structure Package $1,250,923.70 Grade Beam Package $522,690.00 7000 sq ft Brick and mortar $1,050,000.00 Turf field $950,000.00 Track $75,000.00 Fitments $50,000.00 Grading & Paving $200,000.00 Consulting, Architectural/design, fees, permits $175,000.00 Contingency $500,000.00 $4,773,613.70 HST 13 % $620,569.78 HST rebate (-11.24%) 11.24% -$536,554.18 Total to Finance ' $4,857,629.30 Energy Consumption Estimate 3-01 Thursday December 22, 2011 FE00598 Customer Mr.Corrado Roccasalva Pickering Soccer Club Phone: (416)573-5386 Pickering Soccer Club Fax: Cell: Pickering, Ontario, Canada Other: Email: vicepresident @pickering soccer Air Supported Structure Length: 330 ft Floor Area: 79,200 SF Outside Winter Temp: -2 F Width: 240 ft CFM Required: 21,117 CFM Outside Summer Temp: 86 F Height: 75 ft Surface Area: 108,747 SF H/W Ratio 0.3125 End Type: Rectangular Ends Structure Includes Insulation: Yes Monthly Breakdown of Costs Inside Winter Temp (Occupied): 65 F $20,000 ...® Inside Winter Temp(Unoccupied): -2 F $18,000 I : '. Inside Summer Temp (Occupied): 75 F .- Inside Summer Temp (Unoccupied): 86 F $16,000 - $14,000 3045.17 Daily Operating Hours - Sunday: Open 06:00 AM to Close 11:00 PM $12,000 • Monday: Open 06:00 AM to Close 11:00 PM Tuesday: Open 06:00 AM to Close 11:00 PM $10,000 _ Wednesday: Open 06:00 AM to Close 11:00 PM iii_I a...!... ,. ...r ANEW II Thursday: Open 06:00 AM to Close 11:00 PM $8,000 Friday: Open 06:00 AM to Close 11:00 PM _ Saturday: Open 06:00 AM to Close 11:00 PM $6,000 $4,000 - Design Winter Heat Loss: 2.51 MBtu - Design Summer Heat Gain: 1.16 MBtu $2,000 Sensible Tonnes A/C: 96 Tons - - - I_ Heating Fuel Cost: $0.450/m3 J F M A M J J A S O N D, , , Electricity Cost: $0.120/KWH Cost Values J I F I M I A I M I J I J I A I S I 0 I N I D EN Heat Fuel $11,136 $9,851 $8,505 $5,240 $2,656 $420 - $77 $1,730 $4,444 $6,624 $9,808 Mech. Electrical $ 1,857 $1,677 $1,857 $ 1,797 $1,857 $ 1,797 $1,857 $1,857 $ 1,797 $1,857 $ 1,797 $ 1,857 A/C Electrical Lighting $6,746 $6,093 $6,746 $6,528 $6,746 $6,528 $6,746 $6,746 $6,528 $6,746 $6,528 $6,746 ®Misc Electrical $129 $ 116 $129 $124 $129 $124 $129 $ 129 $124 $129 $124 $129 Monthly Totals $19,868 I $17,737 I $17,237 I $13,689 I $11,388 I $8,869 I $8,732 1 $8,809 1 $10,179 I $13,176 I $15,073 I $18,540 Heat Fuel(m3) 24,747.33 21,891.01 Electricity(KWH) 72,759.7 1 65,718.1 1 72,759.7 1 70,4125 72,759.7 0,418. 72,759.7 72,�9..7I 70,412.5 1 72,759.7 1 70,412.5 1 72,759.7 Annual Totals Annual Heating Fuel Used: 134,429.45 m3 Annual Heating Fuel Cost: $60,491 Annual Mechanical Electricity Used: 182,208.0 KWH Annual Mechanical Electricity Cost: $21,864 Annual Cooling Electricity Used: - Annual Cooling Electricity Cost: - Annual Lighting Electricity Used: 661,865.8 KWH Annual Lighting Electricity Cost: $79,427 Annual Misc. Electricity Used: 12,612.2 KWH Annual Misc. Electricity Cost: $1,515 Annual TOTAL Electricity Used: 856,686.0 KWH Annual TOTAL Electricity Cost: $102,806 Total Annual Cost Estimate: $ 163,297 • ISSUE DATE((MMIODIYY) CERTIFICATE OF INSURANCE 19/05/2011 BROKER This certificate is issued as a matter of information only and confers no rights upon the certificate holder This certit cafe does not amend extend HK MB HUB International Limited or niter the coverage afforded by the policies below 595 Bay Street,Ste 900 --- Toronto,ON M5G 2E3 Company PiiONE:416-597-0t}08 FAX:416-597-2313 Sovereign Generai(adminlstered by KSK) Company International B INSURED'S FULL NAME AND MAILING ADDRESS Company Ontario Soccer Association including alt districts associations re gional aria C .. I provincial leagues clubs and teams ralgistered in good stanoind with the Company Named Insurea D 7A01 Martin Grove Road Maugnan'ON L4L 11E4 Company — -- E . COVERAGES _ _ — This is to certify that the policies of insurance listed below have been issued to the insured named above for the policy period indicated.not withstanding any requirement,term or condition of arty contract or other document with respect to wnich this certificate may be issued or may pertain.The insurance afforded by the pol"cies described heroin is subject to all the terms exclusions and conditions of such policies-Limits shown may have been reduced by paid claims TYPE OF INSURANCE CO POLICY NUMBER POLICY EFFECTIVE POLICY EXPIRATION ' LIMITS OF LIABILITY LTR DATE IMMiODfYY) DATE(MM/DDIYY) i (Canadian dollars unless Indicated otherwtsa) COMMERCIAL.otiNERAL uAteti.cry A SOP 401260 10;01,2011 10/01/2012 EACH OCCURRENCE _ $ _10 000 000 CLAIMS MADE GENERAL AGGREGATE $ NA • OCCUPRENCE PRODUCTS-CO'2IP'OP $ '0 000,000 X] PRODUCTS AND OR AGGREGATE _____ — 4, COMPLETED OPERATIONS J PERSONAL INJURY s 10.00u.QlTO PERSONAL INJURY EMPLOYERS LIABILITY '$ 1 000.1)00 Xf EtJPLO'rER S UAn(uT1' TEN_ANI'S LEGAL LIABILITY 5 2 000.001 fMPLOr S_F_GA!LIABILITY HON-OWNED AUTOMOBILE $ 5.000.000 IIE X,NON-OWNED AUTOMOBILE HIRED.4U'tDM.-- 3 j-_- HIRED AUTOMO3ILE - - AUTOMOBILE LIABILITY BODILY INJURY 7 DESCRIBED AUTOMOBILES PROPERTY DAMAGE ;a E ALl OWNED AU rOMOBILES _COMBINLO — — — U LEASED AUTOMOBILES" BODILY INJURY s GARAGE LIABILITY 9;Ot iIr-:SNTI - -- �i 90DILY+NJURY $ ,Per arC,drnll "ii,, .'W.16 is S.t FS:u:.i....rs;•.n PROPERTY DAMAGE ---- ;t,r:..Y.fLF.EIHC+ci.R(C S=L.-JoRL C.'. 5 EXCESS LLeBILrTY EACh OCCURRENCE f UMBRELLA FORM _ '3 1J 01 HER THAN UMBRELLA FORM AGGREGATE---------- S oTHea Isreelkvl _._____ - - _' .S s ---- DESCRIPTION OF OPERATIONS/LOCATIONS/AUTOMOBILES/SPECIAL ITEMS/ADDITIONAL INSURED Ro-Indoor soccer training The Certificate Holder is added as Additional Irlsuredls)re the Commercial General Liability Policy but only with resheci to liability ansing out of the operations Fit the Named Insured. Blanket Contractual Liability is included under the Commercial General Liability Policy. Cross LiabilityrSevera blltl;of Interest are Included under the Commercial General Liability policy. District/Club{Tear;;Insured Under This Policy-Puckering Soccer Club CERTIFICATE HOLDER CANCELLATION — SHOJI.n ANY OE THE ASLN'T 3E$CRIBE0.QUCIE$BE CATLC EL-LED beroRe.THE E.!PIRATION DATE n.ER'WGT Tn:ISS.JiNG C—OMFANV WILL ENC'T OUR TO MAIL 3i1 oAY;WRITTEN NOTICE TO!NE CECIIcW-ATE-,C'LDEP NAuso TO THE L_FT 13-Jr FAILL'PE TO MAIL 9;..Ci-NOTICE . SHALL II:iPUSE NO 051 i iATL)..Ori LLAEll.iIY Or AN%-KIND L:«ON'I H_COMRAFi'-TS e,OINTE OR REPPE`;ENrsTivES AUTHORIZED. REPRESENTATIVE Carruther's Creek Indoor Sports Facility 650 Lake Ridge Road Ajax.ON 1,1Z 1W9 Per: ti J ` MBJ798VJ 12:27 PM Pickering Soccer Club 10/18/12 Accrual Basis Balance Sheet As of September 30, 2012 ASSETS Current Assets Chequing/Savings BANKS&CASH Paul'Petty Cash 200.00 Dave's Petty Cash 308.25 Nina's Petty Cash 200.00 Bank-Bingo 521 5379 9,583.41 Bank-Canada Trust 130,031.08 Total BANKS&CASH 140,322.74 Reserve Fund-due may 05/13 101,020.57 GIC's/Term deposits 250,821.90 Total Chequing/Savings 492,165.21 Accounts Receivable Accounts Receivable 20,496.20 Total Accounts Receivable 20,496.20 Other Current Assets Undeposited Funds 6,239.14 Rep\Select Acct.Receivable 123.74 Bonds Receivable 3,300.00 NSF 1 RTD Cheques -40.00 Pre-paid Expenses 110.18 Total Other Current Assets 9,733.06 Total Current Assets 522,394.47 Other Assets League 1 Semi-Pro Team Due/From 10,000.00 Total Other Assets 10,000.00 TOTAL ASSETS 532,394.47 LIABILITIES&EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable 112,037.03 Total Accounts Payable 112,037.03 Other Current Liabilities PSC Team Bond Collected 17,000.00 Accrued Liabilities 12,680.00 Page 1 of 2 12:27 PM Pickering Soccer Club 10/18/12 Accrual Basis Balance Sheet As of SWtember 30,2012 bep Source Deduction Payable Deferred registration 7,535.00 Deferred Sponsorships 34,314.99 Total Other Current Liabilities 71,529.86 Total Current Liabilities 183,566.89 Total Liabilities 183,566.89 Equity Opening Bal Equity 116,348.66 Retained Earnings -60,566.59 Reserve Fund Levy 260,925.10 Net Income 32,120.41 Total Equity 348,827.58 TOTAL LIABILITIES&EQUITY 532,394.47 Page 2 of 2 PICKERING SOCCER CLUB INC. FINANCIAL STATEMENTS SEPTEMBER 30, 2011 CONTENTS • Page AUDITOR'S REPORT FINANCIAL STATEMENTS Statement of I.-inancial Position 2 Statement et-Operations 3 Statement of Changes in Facilities Fund Notes to the Fit mcial Statements 5 - 7 Schedule of Disbursements 8 DAVIT: F. A'dal,'A R )L , CA lt:f°.1tiC i'illtl.iC:rt';i_Cy,1N1;1;vi' INDEPENDENT AUDITOR'S REPORT To the Members of the Pickering Soccer Club Inc.: 1 have audited the accompanying financial statements of Pickering Soccer Club Inc_.,which comprise the statement of financial position as at September 30, 2011 and the statements of operations and chansues in facilities Rand ioi the year then ended, and a summary of significant accounting policies and other explan ab c',' information. 1ilC1nage mef t s Responsibility for the Fh,cer:i l Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance. with Canadian Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement: whether due to fraud or error: Aitditor's Responsibility My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with Canadian generally accepted auditing standards, Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit invoices performing procedures to obtain audit evidence about the amounts arid disclosures in the financial statements. Tilt procedures selected depend on the auditor's judgment, including the assessment cif the risks of material misstatement of the financial statements, whether due to fraud or. error_ In making those risk a assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are apptcprfaate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness or accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion. Opinion In my opinion, the financial statements present fairly. in all material respects, the financial position of Picl.ering Soccer Club Ine.as at September 30, 2011, and its financial performance and its cash flows for the years then ended in accordance with Canadian Accounting Standards. Tornnro, Ontario F� t j / . i': ember 23, 2011 +i i_:l 1.1 k 11.k1:11 ACCC)1 INTANT L'IC[Nt_ED PI alil,lc At L()l• IN[ANT in C:RANrC!WAY AVENti1: Stl1•11 1C)', PC). i.OX 9, st'rtltlOiZI,Al;:1-1, C)NTAJUtI) MtlliE) 111.: -t!6-756.9113 m f\.(: 11C7 756 -1c:r`•1 d.aVcOl{lfilrc.�,:a_c,r I. PICKERING SOCCER CLUB INC. STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30,2011 2011 2010 ASSETS Cash $ 106,221 $ 137,919 Accounts receivable 23,381 59,327 Prepaid expenses 2,804 17.035 Investments(Note 4) 352.564 103.250 $ 484.970 $_ 317,531 LIABILITIES Accounts payable and accrued liabilities , $ 95,166 5 16.062 Ontario Trillium Foundation funds(Note 5) 33,880 Deferred registration and sponsorship fees 28,055 31,900 ' 157,101 47,962 NET ASSETS Facilities fund(Note 6) 262,926 260,925 Unrestricted net assets 64,943 8.644 327,869 269,569 $ 4$4.970 S 317.531 APPROVED O. B1 FIALF 9F THE! BOARD: v_ y(, .41 '.. President s— — Treasurer • The accompanying notes are an integral part of these.financial statements PICKERING SOCCER CLUB INC. STATEMENT OF OPERATIONS FOR..THE YEAR ENDED SEPTEMBER.3t1, 2[!+11 201.1 2010 RECEIPTS • Registration ices S 1.035,7541 ' 993,447 Fundraising 77,032 60.253 Player dLvelol,men1 program .lees 30,065 88.962 Sponsorship lees 80.452 75,667 SUMITiet=camp fees(Note 7) 34.135 57.309 Ontario Trillium Foundation gi'an't 24,420 - Tull'field rental 23,910 29,278 interest earned d 375 1,306,670 1,305,291 DISBURSEMENTS(see Schedule on na .c 8) Administrative 411,839 350,276 Equipment 30.506 47,075 Coach and player development 151,450 178,738 °per,lthw 595.602 591,776 Preni iscs 60.974 58,191 1,250,37711 1,226,056 EXCESS RECEIPTS OVER DISBURSEMENTS (DISBURSEMENTS OVER RECEIPTS) 56,299 79,235 UNRESTRICTED NET ASSETS, begirming of year 11.6';-4 (76.591) UNRESTRICTED NET ASSETS,end of year S 64,943 $..__� ,643 The accompanying notes are an integral pan Ojthdese fiimucruI statements 3. PICKERINC SOCCER CLUB INC. STATEMENT OF CIIANCES IN FACILITIES FUND FOR TUE YEAR ENDED SEPTEMBER.30,2011 2011 2010 FACILITIES FUND. beginning of year $ 260,925 S 260,925 Add: merease from interest earned 2.001 FACILITIES FUND, end of year S 262,926 S., 260,925 • The accompanying iil fire an integral part qt.these financial statements PICKERING SOCCER CLUB INC. NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30,2011 I. BY-LAWS AND OPERATIONS The Pickering Soccer Club Inc. is a regional sport-governing,not-for-profit organization incorporated without share capital by letters patent in the Province of Ontario. The purpose of the Pickering Soccer Club Inc. is to develop the individual abilities of each youth and junior soccer player from the City of Pickering for the purpose of improving their playing skills and their enjoyment of soccer. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These financial statements have been prepared in accordance with Canadian generally accepted accounting principles.The more significant accounting policies followed are summarized below: (a) Investments All investments are classified as held-to-maturity and are recorded at cost. (b) Capital Assets Capital assets are expensed on acquisition. Capital assets include office furniture and equipment. During the year, office furniture and equipment was purchased for a total cost of $nil (2010 - $nil): This amount is included in premises disbursements in the statement of operations. (c) Revenue recognition Registration and sponsorship fees are charged on a seasonal basis and are recognized as revenue in the year in which the season occurs. Fees received in advance of the season are reflected as deferred items on the Balance Sheet. (d) Fund basis of accounting The Club accounts for internally-imposed restrictions on interest earned and on the participant's levy as increases in the Facilities Fund as per Note 5 to these financial statements. (e) Contributed services Volunteers contribute more than 1,500 hours per year to assist the not-for-profit Pickering Soccer Club Inc. in carrying out its service delivery activities. Because of the difficulty of determining their fair value,contributed services are not recognized in the financial statements. (f) Use of Estimates • The preparation of financial statements in conformity with Canadian generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates. (g) Adoption of Proposed Accounting Standards The Accounting Standards Board has approved the incorporation of the standards set out in Part Ill of the CICA Handbook as the accounting standards applicable to all Canadian not-for-profit organizations. Implementation of the new standards is required for fiscal years beginning on or after January 1, 2012. Adoption of the new standards is not expected to result in a retroactive restatement of earlier t ears. 3. 1 i''CKE1.I G SOCCER CLUB INC. NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30,2011 3. FINANCIAL INSTRUMENTS The Club's financial instruments consist of cash, accounts receivable, investments and accounts payable. The fair value of accounts receivable, i ve.rmenrs accounts payable and acciued hubilities and bank indebtedness approximate their carrying values unless otherwise stated. It is management's opinion that the organization is ma exposed to significant interest rare, currency or credit risks arising from these financial instruments. • 4. INVESTMENTS 2011 2010 Guaranteed Investment Certificates,2.52%due Oct. 26,2011. 300.000 Guaranteed investment Certificate, 1.70%due June 4. 2012 52.56=4 - Crttaranteed Investment Certificates. 1.15%due Dec. 31, 2010 - 1,03,250 S 352.564 5103,250 Investments are regarded :ts held-lo-maturity and are tarried on the Balance Sheet at cost which, in the opinion of mana;eineru,approximate s fair market value. 5, ONTARIO TRILLIUM FOUNDATION GRANT In April 2011 the Club was awarded the amount of $1. 1 6,300, over a two year period, to launch "Playing 4 Life" and "Volunteering 4 Life", two programs aimed to make the sport of soccer accessible to people with disabilities. At September 30, 2011 funding in the amount of$58,300 had been received and the amount of $24,420 had been disbursed in respect of the two programs. The balance of funding is anticipated to be received in April 2012 and will be fully disbursed by April 30, 2013. Due to the nature of the two programs the balance of funds not yet disbursed has been disclosed as a current liability and not as an allocation of net assets. 6. FACILITIES IES FUND By special resolution of the general membership an internally imposed fund was created out of the general operating surplus to allocate funds to assist with improving and obtaining suitable facilities. The Club annually allocates a levy of $5.00 per participant. per summer season, to the Facilities Fund. By Directors Resolution the levy for fiscal 201 1 and for fiscal 2010 was not allocated. Except for fiscal 2010 and 2009, interest earned on investments is allocated directly to the Facilities Fund, it is not included as a receipt on the Statement of Operations, 7. SIMMER CAMP FEES The Club annually provides a camp fear participants to learn new skills over the summer months. In addition, the Club also provided a Training Camp for elite athletes and sponsored Futsol programs for interested nieiwwrbcrs • 6. PECKERINC SOCCER CLUB INC. NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30,2011 8% STATEMENT NT OF CASH FLOWS A statement of cash flows has not been presented as information about financing and investing activities and their effects On cash resources is readily apparent from the other financial statements. 9. COMMITMENTS a) Commencing July I. 2006 the Club agreed to lease premises located at 1735 fIayly Street West in Pickering. The lease i. for a period of six years and will expire on June 30, 2012. Terms of the lease require monthly payments of$4,049 b) The Club teases office equipment at a cost of$1,266 per year. The lease is for a 60 month period which commenced in May 2006. e)'1he Club operates occasional bingo evems as fundraising activities under licence of the Province of Ontario. As a condition of registration tinder the licence, all proceeds from the bingo events must be disbursed for the benefit of registrants (Operating disbursements on the Schedule of Disbursements). Proceeds from bingo events have been included in Fundraisittz Receipts on the Statement of Operations. 7. PICKERING SOCCER C'.I JU1I INC. SCHEDULE OF DISBURSEMENTS • FOR THE YEAR ENDED SEPTEMBER 30,2011 2011 2010 ADMINISTRATIVE Advertising and promotion $ 8.485 $ 15.781 Bank charges and interest 869 134 Bad debt expense 9,738 - Directors insurance, and supplies 5,460 2.578 Fundraising 30,984 20.304 Meetings - Catches,Directors and General 1 1,599 8.488 Office supplies and photocopying 79,105 20,898 Ontario'Trillium Fund costs 5,933 - Postage,telephone and interact 33,771 20.862 Professional fees- legal. audit and accounting 35.773 21,075 Salaries,wages and benefits 2 s99?2 240.156 S 41:3.839 $ 350,2'76 EQUIPMENT Coaches and officials supplies $ 2,176 $ 3.232 Field maintenance and equipment 12,521 33.348 Feld marking supplies 15,809 10_495 S 30,50 . S 47,075 COACH AND PLAYER IM VELOPMf N'F Coach development programs $ 53,207 $ 42.057 Player development pro rants 55,456 90,006 Soccer camp operations 42.17 46.675 $_351.450 $ 1.76738 OPERATING Gymnasium rentals_;net of recoveries) $ 49,756 $ 21,579 League fees t 148875 130.513 Photography 32,204 8.809 Referee fees 86,732 77,791 Soccer balls 24.150 34,259 Tournament fees • 12,0139 8.324 Trophies and awards.. 42.131 51,684 lniforms 199.743 258.817 +_ 9S.aCi ? $ .5"9,1 776 PREMISES Equipment leases $ -1.479 9i 5.135 Maintenance and instu'anee 2,266 2,192 Rent 48,994 45,219 l'tilities 5,235 5 645 S 60..274 S 53,191 8. PICKERING SOCCER CLUB INC, FINANCIAL STATEMENTS SEPTEMBER 30, 2010. CONTENTS Page AUDITOR'S REPORT FINANCIAL STATEMENTS Statement of Financial Position Statement of Operations Statement of Changes in Facilities Fund 4 Notes to the Financial Statements 5 - 6 ',Schedule of Disbursements 7 DAVID F McCARROLL, CA LIU:NC EII) ACC0(.1��1.�Rrl AUDITOR'S REPORT To the Members of th Pickering Soccer Club Inca I have audited the statement of financial position of Pickering Soccer Club Inc.as at September 30, 2010 and the statements of operations and change. in facilities fund for the year then ended. These financial statements are the responsibility of the Club's directors. My responsibility is to express asa opinion on these financial statements based on my audit. I conducted my audit in accordance with Canadian generally accepted auditing standards_ Those standards require that I plan and perform an audit to obtain reasonable assurance whether the financial .statements are frec of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the directors, as well as evaluating the overall financial statement presentation. In my opinion these financial statements present fairly, in all material respects. the financial position of the Club as at September 30, 2010 and the results of its operations and the changes in its facilities fund for the year then ended in accordance with Canadian generally accepted accounting principle's. 'Toronto,Ontario ' tom, ,' J //% November 8,2010 CHARTERED ACCOUNTANT UCE LACED PUBLIC ACCOUNTANT • • ill GI:ANCi:W,\V .'1i LLNIitt. Jt.il'tt: 4012, N). 1100 9. `CA.lit§OROt,ICI I,•ON AR O \11113l^.9 "11:'l.,'. 411)-756-f:1313 ' lAX` 41.E-7Se5 41ilit a P-MA ll..: davcc,i,11www. 01 ;.i 1. • PICKERING SOCCER CLUB INC. STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2010 2010 2009 ASSETS Cash $ 137,919 $ 28,460 Accounts receivable 59,327 43,581 Prepaid expenses 17.035 6,603 Investments(Note 4) 103.250 156.474 $ 317,531 $ 235,118 LIABILITIES Accounts payable and accrued liabilities $ 16,062 $ 18.523 Deferred registration and sponsorship fees 3 1.900 26.260 47.962 44,784 NET ASSETS Facilities fund (Note 5) 260,925 260,925 Unrestricted net assets 8,644 00.591) 269.569 190,334 5 317,531 $ 235,118 APPROV ON/BEHALF OF THE BOARD: 1 iiiii.,,E, i'°)' President ts` 1_,),,vtoh , 6(4 A./.41.m Treasurer 7 . PICKERIN'G SOCCER CLUB INC, S I ATEMF;NT OF OPERATION S FOR THE YEAR ENDED SEPTEMBER 30,2410 2010. 2009 RECEIP TS Registration fees $ 993.447 $ 861.547 Player development program fees 88.962 87.281 Sponsorship fees 75,667 61,185 Summer camp lees(Note t ) 57,309 57,603 Fundraisi3i°e, 60.253 78.t}56 Turf held rental 27'.2 78 - Interest ea rti e_el 375 1305,291 1,145_672 DI:SY ITRSI MiENTS (see Schedule on page 7) 350.276 314,635 Equipment 47,075 31,j25 Coach and player development 178,738 231,551 Operating 591,776 543:359 Premises 58.191 38.119 1.226.056 1.159,189 EXCESS RECEIPTS OVER DISBURSEMENTS (DISBURSEMENTS OVER RECEIPTS) 79,235 (13,517) UNRESTRICTED NET ASSETS, beginning of year (70.591) (57-071) UNRESTRICTED NET A rSFTS,end rofveiir S 8,644 $�^t 10.591) 3. PICKERING SOCCER CLUB INC, STATEMENT OF CHANGES TN FACILITIES FUND FOR THE YEAR ENDED SEPTEMBER 304 2011) 2010 2009 FACILITIES FUND, beginning of year S 260,925 5 338,925 Less expenses nctand daring year - ('MOO) FACILITIES FUND,end or)ear S 260,925 S 260 925 PICKERING SOCCER CLUB INC, NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30,2010 1. BY-LAWS AND OPERATIONS The Pickering Soccer Club Inc. is a regional sport-gov .ruing.not-for-profit organization incorporated without share capital by letters patent in the province o't'Ontario. The purpose of the Pickering Soccer Club Inc. is to develop the individual abilities of each youth and junior soccer player from the City of Pickering !'or the purpose t improving their playing skills and their enjoyment of soccer. 2. SUliti iA1(V OF SIGNIFICANT ACCOUNTING POLICIES These financial statements have been prepared in accordance with Canadian generally accepted accounting principles.The more significant accounting policies f llowed are summarized below: (a) Investments All investments are classified as held-to-maturity and are recorded at cost. (b) Capital Assets Capital assets are expensed on acquisition, Capital assets include office furniture and equipment. During the year, office furniture and equipment was purchased for a total cost of Tait (2009 - Snil).This amount is included in premises disbursements in the statement of operations. (e) Revenue recognition Registration and sponsorship fees are charged on a seasonal basis and are recognized as revenue in the year in which the season occurs. Fees received in advance of the season are reflected as deferred items on the Balance Sheet. tci;t Fund basis of:accounting The Club accounts fbr internally imposed restrictions on interest earned and on the participant's levy as increases in the Facilities Fund as per Net 5 to these financial! statements. (e) Contributed services Volunteers contribute more. than 1.500 hours per year to assist the not-tor-profit Pickering Soccer Club inc. in carrying out i'ts service delivery activities. Because of the difficulty of determining their fair value, contributed services are not recognized in the financial statements. (f) Ilse of Estinintes The preparation of financial statements in conformity with Canadian generally accepted accounting. principles requires management to make estimates ,and assumptions that affect the reported amounts of asset's and liabilities and disclosure of continizeast assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses truing the aeporttyd period. Actual results could dif!er from these estimates. 3. FINANCIAL IN'yTI.UMENTS The [..tub's financial instruments consist of cash, accounts receivable, investalnerits and accounts payable. "l he fait value of accounts receivable, investments, accounts payable and accrued liabilities and bank indebtedness approximate their carrying values unless otherwise , :tied it is management's opinion that the organization is not exposed to significant interest rate, e.urrcne:■ or credit risks arising from these financial instruments. 5. PICKERING SOCCER CLUB INC. NOTES TO T FINANCIAL STATEMENTS SEPTEMBER 311, 2010 4, IN V.('ST1 'NTS 201 ii 2009 Guaranteed investment Certificates. 1.15'',due Dec. 31. 2010 $ 51.625 $ 51,625 Guaranteed Investment Cer'tific.aies. 1.15%due:Dec. 31, 2010 51,625 51.525 Guaranteed Investment Certificates. 1. due Dec._31. 2010 53.22t S 11i3 150 1 4■{r"474 Investments are regarded as held-to-maturity and are carried on the Balance Sheet at cost which, in the opinion of management.approximates fair market laluc. 5. FACILITIES FUND By special resolution of the general membership an internally imposed rund SNas created out of the general operating surplus to allocate funds to assist with improving and obtaining suitable facilities. 1 he Club annually .allneates, a levy of $5.1111 per participant, per summer season, to the Facilities Fund. Except for fiscal 2010 and 2009, interest earned on fund investments is allocated directly to the Facilities Fund, it is not included as a receipt on the Statement of Operations. By Directors Resolution the levy for fiscal 2010 and for fiscal 2009 sas not allocated. 5. SL1i INTEll CAMP FEES The Club annually provides a camp liar participants to learn new skills over the summer months. In addition. the Club also provided a Traanina Camp for elite athletes and sponsored Futsol programs for interested members 7. STATEMENT OF CASI 1 FLOWS A statement of cash flows has not been ljresenteJ as information about financing and investing activities and their effects on cash resources is readk apparent from the other financial statements. S. COMMITMENTS a) Commencing Jule 1. 2(105 the Club agreed to lease premises located at. 1735 'Bayty Street \Vest in Pickering, The lease is for a period of six years and wilt expire on June 30. 2012. Terms of the lease require monthly payments of$3,717. b) '1 tic Club leases office equipment at a cost of$4,266 per year. The lease is for a bO month period which commenced in May 2006, G) The Club operates occasional bingo events as fundraising activities under licence of the Province of Ontario. As a condition of registration under the licence; all proceeds from the bingo events must be disbursed tor the benefit of registrants (Operating disbursements on the Schedule of Disbursements). Proceeds from binge event.} have been included in Fundraising, Receipts on the Statement of Operations. U. P1C7KE1t1NG SOCCER CLUB INC.. SCHEDULE OF DISBURSEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2010 2010 2009 ADMINISTRATIVE Advertising.and promotion $ 15.781 S 18.813 Bank change and interest 134 1.608 Directors insurance and supplies 2.575 675 Fundraising 20.304 23,141 Meetings„Coaches, Direetors and General 8,488 10,939 O1flce supplies rand photocopying '0.898 1?,912 t'oiagge, telephone and interne( 20.862 13,409 1'rolcssic<rtal lees- legal, audit and aewunfing 21.075 172.05 Salaries, stages and benefits 240.156 115.931 S 350.2 i 6 S_ 314.635 EQUIPMENT Coaches and officials supplies $ 3.232 $ 4.126 Field maintenance and equipment 33.348 13.862 Field marking supplies 10,495 13.537 47.075 S 315,2,5 COACH AND PLAYER DEVELOPMENT t.o ach development programs $ 42;057 5 43,029 l'l.czer development gram a 90.006 115,998 Soccer camp operations 46.675 52,524 S _178.738 S 211,551 OP E RATING Gymnasium rentals(net of recoveries) $ 21.579 $ 11.224 League .fees, 130,513 126,537 Photography 8,309 20.675 t2.et'eree fees 77,791 90.322 Soccer balls 34,259 24,743 Tournament lees 8.324 2.994 Trophies and awards 51.684 69.505 Uniforms 258.817 197,359 S 591,776 S 543.359 PREMISES Equipment leases S 5.135 S 5,414 Maintenance and insurance 2.192 ,3.703 Rem 45,19 43.644 [1iilititiS ;645 5.358 S_ 58 fl NI. S__ 58,119 7. PICKERING SOCCER CLUB INC. FINANCIAL STATEMENTS SEPTEMBER 30, 2009 • • • CONTENTS Page AUDITOR'S REPORT 1 FINANCIAL STATEMENTS Statement of Financial Position 2 Statement of Operations 3 Statement olCIA4mtes in laciiities Fund 4 Notes to the Financial Statements 5 - 7 Schedule of Disbursements 8 DAVID L. A feCARROL , (,A LI( I II I'Iil l.lc. .\CCOLINIAN! C AUDITOR'S REPORT To the Members of the Pickering Soccer Club Inc.: I have audited the statement of financial position of Pickering Soccer Club Inc.. as at September 30,2009 and the statements of operations and changes in facilities fund for the year then ended. These financial statements are the responsibility of the Club's directors. My responsibility is to express an opinion on these financial statements based on my audit. ,I conducted my audit in accordance with Canadian generally accepted auditing standards. Those standards require that 1 plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining. on a test basis; evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates trade by the directors, as well as evaluating the overall financial statement presentation. In my opinion these financial statements present fairl), in all material respects. the financial position of the Club as at September 30, 2009 and the results of its operations and the changes in its facilities fund for the year then ended in accordance with Canadian generally accepted accounting principles. Toronto, Ontario r f I31.+ January 28'r'20I 0 � CHARTERED ACCOUNT NT LICENCED.PU.IBLIC ACCOUNTANT • 111 CPANe;.i:'.!+.i\';\v .Nl t!„ still r: it:++', l'.o, Box 9, SCARROVZOTA,H, (,)N le\kl0 .I I l l3E9 T1I.. .H6-756-93113 o- FAX: •1!ts-75av•.lF;, t 1_-t'iAII: da`4c Ocifm .ot .ca 1. PICKERING SOCCER CLUB INC. STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2009 200 2008 ASSETS Cash $ 28,460 $ 15.195 Accourris rtAxixiable 43,581 - 48,487 Prepaid expenses 6,603 23,44 I Investments(Note 4) 156,474 340359 $ 23Jj S422 LIABILITIES Accounts payable and accrued liabilities $ 18,524 $ 128,034 Deferred registration and sponsorship fee5, 26.260 22.997 44,784 151,031 NET ASSETS Facilities fund(Notc;5) • 260,925 338,925 1nrestrieted net assets 70.591) (57,074) 1.90,334 18511 235,118 S,_432-882 APPROVED ON BEHALF OF THE BOARD: President Treasurer • PICKERING SOCCER CLUB 'INC. STATEMENT OF OPERATIONS FOR THE 'EAR ENDED SEPTEMBER 30,2009 2009 2008 RECEIPTS Registration fees $ 861,547 $ 874,581 Player development program fee 87,281 61,419 Sponsorship fees. 61,185 68,982 Slimmer camp fees(Note 6) 57.603 116.130 Fundraising 78.056 38.630 1,145,672 1.159.742 DISBURSEMENTS(see Schedule on page 7) Administrative 314.635 291,991 Equipment 31.525 21.888 Coach and player development 211,55) 264,820 Operating 543.359 572,596 Prem ise 58.119 56.279 1,159 189 ..1,207,574 EXCESS DISBURSEMENTS OVER RECEIPTS (13,517) (47,832) UNRESTRICTED NET ASSETS, beginning of year (57.074) (9.242) UNRESTRICTED NET ASSETS,end of}.ear 5 (70,591) 3. PICKERING SOCCER CLUB INC STATEMENT OF CIIANGES IN FACILITIES FUND FOR THE YEAR ENDED SEPTEMBER 30,2009 2009 • 2008. FACILITIES FUND,beginning of year S 338,925 S 334.279 Acid: increase from interest earned 4.646 Les s. expense incurred durirro. year 78.000) - FACILITIES FUND.,end of year S 260,925 S 338 92i 4. PICKERING SOCCER CLUB INC. NOTES TO THE FINANCIAL STA'I'I;lii'IENTS SEPTEMBER 30, 2009 1. BY-LAWS AND OPERATIONS The Pickering Soccer Club Inc. is a regional sport-governing; not-for-profit organization incorporated without share capital by letters patent in tlye Province of Ontario. The purpose of the Pickering.Soccer Club Inc. is to develop the individual abilities of each youth and junior soccer player from the City of Pickering for the purpose of improving their playing skills and their enjoyment of soccer. 2. SUMMARY OF SIGNIFICANT ACCOIUNTIiNG POLICIES These financial statements have been prepared in accordance with Canadian generally accepted accounting principles. The more significant accounting policies followed are summarized below (sr) Investments All investments are classified as helot-to-maturity and are recorded at cost. (b) Capital Assets Capital assets are expensed on acquisition. Capital assets include office furniture and equipment. During the year, office furniture and equipment was purchased for a total cost of.Slid t2OO8 - iiil). This amount is included in premises disbursements in the statement of operations. (c) Revenue recognition Registration and sponsorship fees are charged on a seasonal basis and are recognized is revenue in the year in Nvhicli the season occurs. Fees received in advance of the season are reflected as deferred items on the Balance Sheet, (tt) Fund basis of accounting The Club accounts +,r internally-imposed r istrictions on interest earneid and on the participant's levy as increases in the Facilities Fund as per Note 5 to these financial statements. (e) Contributed services Volunteers contribute more than 1.5(10 hours per year to assist the not-for-profit.Pickering Soccer Club Inc. in carrying out its service delivery activities. Because of the difficulty of determining their fair value,contributed services are not recognized in the financial statements. (f) Use of Estimates The prepairation of financial statements in con.formit) with Canadian ge erally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates. 3, FINANCIAL,INSTRUMENTS The Club's financial instruments Consist of cash, accounts re.ccciable. investments and accounts • pas:.bls. The fair value of accounts receivable, invesimet,ts, accounts payable and accrued liabilities and bank indebtedness approximate their carrying values unless otherwise stated. It is management's opinion thin die organization is not erpLsed to significant interest rale. currenc!, or credit risks arising from these financial instruments. 5 PICKERiNG SOCCER C'LiUB INC. NOTES TO THE FINANCIAL STATEMENTS SEPTEMBER 30, 2009 4. INVESTMENTS 2009 2008 Guaranteed Investment Certrticates, 1.15%due Dec. 31, 2010 $ 51,625 $ - Guaranteed Investment Certificates, 1.15%due Dec. 31, 2010 51,625 Guaranteed Investment Certificates, 1.15%due Dec. 31, 2010 53,22,-1 - Guaranteed investment Certificates, 3.25% due June 4. 200e9 150,000 Guaranteed Investment Certificate, 3.40%due June 26, 2009 - 52,125 Term deposit,3.55%due October 1. 200 - 138.6 34 $_ I56,474 5 340.,759, Investments are regarded ;as held-to-mal.urity and are carried on the Balance Sheet at cost IN hid, in the opinion of management, approximates fair market value. 5. FACILITIES FUND • By special resolution of the general membership an internally imposed fund was created out of the general operating surplus to allocate funds to assist with improving and obtaining suitable facilities. The Club annually allocates a levy of $5.00 per participant, per summer season, to the Facilities Fund. Except for ti•cal 2009. interest.earned on fund investments is allocated directly to the Facilities Fund, it is not included as a receipt ctr the Statement of Operations. By Directors Resolution the levy Cot fiscal 2009 and for fiscal 2(1(18 was not allocated. 6. SUMMER CAMP .FEES • The Club annually provides a camp for participants to learn new skills over the summer months. In addition, the Club also provided a Training Camp t=:ir elite athletes and sponsored l"utsol programs in 2008 the Club also offered Morace's and Pesch's Academies) for interested members. 7. STATEMENT OF CASH FLOWS A statement of cash flows has not been presented as information about financing and investing activities and their effects on cash resources is readily apparent from the other financial statements. 8. CO NMI ITMEN1'S a) Commencing July 1. 2006 the Club agreed to lease premises located at 1735 l3ayly- Street West in Picketing. The lease is for a period of six years and will expire on June 30, 2012. Terms of the lease require monthly payments of$3,628. b) The Club leases office equipment at a cut of$4.266 per year. The lease is for a 60 month period which commenced in May 2006. 6. P[CKERINC 'SOCC.'ER CLUB INC. NOTES TO T)-IE FINANCIAL STATEMENTS SEPTEMBER 30,2009 S. COMMITMENTS (continued) c) In April 2008 the Club received grants for $136,000 from the Ontario Trillium Foundation and $3,000 from the Pic kering Eastshore Community Association to assist with the re-development of an existing soccer field. As at September 30, 2009 the Club had expended the amount of $73,000 towards the project costs. The balance of the funding received is $5,000 which has been disclosed on the Balance Sheet included in accounts payable. Management of the Club anticipates the final disbursement will occur upon satisfacto€y completion of field marking and t€€rf levelling and drainage. The total financial commitment of the Club is expected to he $217.000 inclusive of the Grant proceeds and att., contributions which may be rec+_ived from sponsors. d) The Club operates occasional bingo events as fundraising activities under licence (lithe Province of Ontario, As a condition of registration under the licence, all proceeds from the bingo events must be disbursed for the benefit of registrants (Operating disbursements on the Schedule of Disbursements). Proceeds from bingo events have been included in Fundraising Receipts on the Statement of Operations, • 7. PICKERING SOCCER CLUB INC SCHEDULE OF DISBURSEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2009 2009 21108 ADMINISTRATIVE Advertising and promotion 18,513 $ 12,977 Sank charges and interest 1,608 135 Directors insurance and ssupplies. 675 . 1,922 Fundraising 23.141 11,93'2 Meetings- Coaches, Directors and General 10,939 10.966 Office supplies and photoe•opy ink; 12,912 14,468 Postage,telephone and internet 13,409 21,438 . Professional fees- legal, audit and accounting 17,205 11.200 Salaries,wages and benefits 215.933 '06,953 314.635 $ 291,991. EQUIPMENT Coaches and officials supplies $ 4,12E $ . 3.366 Field maintenance and equipment 13,862 7,519 Field marking supplies 13.5.37 _ 11.003 .31 525 2 i; 4-S t OACIl AND PLAYER DEVELOPMENT Coach development programs $ 43,029 $ 32_464 Player development programs 115,998 115,324 Soccer camp operations 53,524 117.032 26_4411.211 OPERATING Gymnasium rentals (net arecoveries) $ 11,224 $ 14.729 League fees 126,537 134.180 Photography 20.675 18,558 Referee lees 941,322 75.695 Soccer balls 24,743 24,734 Tournament tees 2,994 4.956 Trophies and awards 69,505 79,408 Uniforms 197.359 220,336 - $ 543.359 S 572.596 • PREMISES Equipment tc.stseS $ 5,414 1i 5.636 Mainienance and insurance 3,703 3.238 Rent 43,644 42.761 Utilities 5.358 4.644 S 58,119 S 56.279 8. • CO d• CO 0 - - c, '- . .:zr MO COCOv.- Mv- M CO ChMd' d' CO CC) N- d' CO Ca N- N LC) CO N- 0 0 N- 0 N- 0 N. 0 t- N- O C) d' d co C) d' C) N CO N CA LO C) Cr) LO CO LO CO LO CO LO LO 0) C) CO CO LO O) CO O C) N CO (.fl N N- O) C) N- CA N- C3) N- C) N- N- 0 N- CO CO d' O CO I- X v- 0ONNN v- N � CV CNI N (NJ d C7N N (NI 'C N ( 0 0 0 O O O O O O O O O O O O O 0 O O O O O Co O O O O O O O O O O O O O O 0 0 0 0 0 0 0 0 O O O O 0 0 N CO 00 N O N 00 N CO N N 0 0 0 0 0 0 0 c) LO Ln00 ' d' d' 1- " .- . - 1- d' 0000000 C• ,.0., 0 N N 0 0 N 0 0 N O N 0 N 0 N N 0 0 LC) LO 0 0 LO y,, Ca c- LC) LC) O N- CO CY) N.- CO N- CO N- CO I,- N- 0 0 CO C'O 0) 0 CO RI IX NLnLnCONd' 00d 0d' 0d- 0d• d' C)) C000C'O • 0) CO U N O 0 N ( �- CO 00 — CC) CO r- CO r- LO N 0 0 00 LC) 0 O X 0 0 0 0 — 0 0 — 0 — 0 — 0 0 N- - 'a CI3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 W 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 co CO co cm d' LC) C) O) LO O) LO C)) LO CA LO LC) C) 0) CO CO 00 C CO 0) C'O N 0 LC) LC) LO LO LO LO LO LO LO Ln LI) CO CO CS) O) 0) Cr) C) O CO co d• CA C) CO N- N- CO N- CO ti CO t` CO CO O co co LO LC) O LS')CO I,- N- d CO CO O) Cp CO 0) CO C) CO O) CO CJ) O) N- N- co co co N- co O)ct N- co CA C) O ti N- O ti 0 NS• O ti 0 0 ..1:0) CO 0 0 0 CO O a) X 0 0 0 0 - - 0 0 - 0 - O — O O O O O O O O O O O O O O O O O O O O O O O O I- 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LO CO N- t- CO 0) CO CO C3) CO O) CO CA CO C3) CA d" d" CO co M d' M CO co CS) t- CO co LO LO 0 LO 0 LO 0 LO 0 0 t` t- d d' d N- d' Cn t` LO " N h LO CO CO LC) CO LS) C'O LC) CO LO LC) CO CO LC) L!) 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X -3 _~_I J 10/20/12 Mortgage Payment Calculator-RBC Royal Bank ig • RBC Royal Banke Mortgage Payment Calculator Payment Payment Amortization Term Amortization Amortization Frequency Amount Interest Interest Cost Interest Savings Cost vs. Monthly Payment Monthly $34,968.52 15.0 yrs $1,219,635.84 $1,394,332.32 $0.00 _ Semi-monthly $17,484.26 15.0 yrs $1,216,012.42 $1,388,367.51 $5,965.37 Bi-weekly $16,139.32 15.0 yrs $1,210,641.79 $1,381,194.32 $13,138.56 Weekly $8,069.66 15.0 yrs $1,208,975.56 $1,378,457.52 $15,875.36 Accelerated $17,484.26_ 13.5 yrs $1,142,846.59 $1,236,272.84 $158,060.04 Bi-weekly Accelerated $8,742.13 13.5 yrs $1,141,041.51 $1,233,673.36 $160,659.52 Weekly Results Summary Mortgage Amount: $4,900,000.00 Interest Term: 10 years 0 months Interest Rate Type: Fixed Payment Frequency: Weekly Interest Rate: 3.500 % Amortization Period: 15 years 0 months Payment Amount: $8,069.66 Mortgage Amortization Paydown https://w w w.rbcroyalbank.com/cgi-bin/mortgage/mpc/start.cgi/start 1/2 10/20/12 Mortgage Payment Calculator-RBC Royal Bank In this chart we assume the following: (i) a constant interest rate throughout the amortization period, (ii) interest is compounded semi-annually for fixed interest rates and each payment period for variable Interest rates; and (ii) the payment schedule you selected is maintained with no additional payments or skipped payments, unless selected by you. If you select our Double-Up® payment option, we assume the payments are applied against the first payment(s) in each year. If you select the Skip-A-Payment® option, we assume the payment that is "skipped" is the last payment in the year. If you customized the payment schedule, the chart reflects the information you input. The recommendation is (i) based on the accuracy and completeness of the data you have entered, (ii) based on assumptions that are believed to be reasonable, and (iii) for informational purposes only and should not be relied upon for specific financial or other advice. When you make your credit application interest rates may have changed or may be different due to information contained in your application. Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or results in connection with this calculator. 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VO H N L -H G Lk ATTACHMENT# TO TO REPORT#cS SO - \ Z 14ø G 1111111i Gl sqPR�P c /..41/ 'N \, x. -fl • O?0 cwi COMMUNITY SERVICES ATTACHMENT FOR COMMUNITY City n, DEPARTMENT SERVICES REPORT CS 50-12 i*, , ENGINEERING DIVISION ,,ul` 1955 CLEMENTS ROAD SCALE: DAOct24/2012 PROPOSED INDOOR SOCCER FACILITY NCO�, ��IZE N.T.S 1 _I ATTACHMENT# _ TOREPORT#CS SO rounthw thwaito te dick and hadley architects inc. Mr. Everett Buntsma Director Community Services City of Pickering One The Esplanade Pickering, ON L1V 6K7 October 25, 2012 Re: Fee Proposal for Professional Services for the Design of a new Indoor Soccer Facility at 1955 Clements Road Dear Mr. Buntsma, Thank you for inviting us to submit our proposal for the above referenced project. Services: Architectural, Structural, Mechanical, Electrical and Civil Engineering, Landscape Architecture, Code Consulting and Cost Consulting including Schematic Design, Design Development, Construction Documents, Tendering and Contract Administration. Project Description: New indoor soccer facility which will include two 27,300 SF air supported structures over two artificial turf soccer pitches, along with a permanent 12,370 SF Change Room/Club House and approximately 100 parking spaces. Construction Budget: It is our understanding that the project budget for this project is$5M + HST. We have been in contact with our cost consultant AW Hooker and Associates as well as the Farley Group, who manufacture and install air support structures for various field sports including soccer. As a result we have prepared the following very preliminary construction cost breakdown. Air support structures, lx 375'x 240'-$1,300,000.00 Artificial turf and sub base aggregate-$700,000.00 Club house, 7,000 SF x$250/SF-$1,750,000.00 Parking, 100 spaces-$350,000.00 Site Services-$75,000.00 Landscape-$40,000.00 Construction Contingency-$210,000.00 Total-$4,425,000.00 Schedule: It is our understanding that the City would like to occupy the new soccer facility by September 2013. We believe that this date is achievable and that our Consultant Team is committed to meeting that schedule. rd h _ r,;,; ... .2 I_,:'.s;;t;ltr;ts;r:.;�5t.�..:r:xn�<,_�:;€:>%i;1<,c�rt;r�`.c>C:}�!r?'��.� iL�1 r1i Cs.: a;�ca .pax c° �v< z.,,,, www.rdharch.com • rounthwaite dick and hadley architects inc. b shed € " 71 3 Proposed Consultant Fee: Architecture=$182,345.00 Structural Engineering=$32,865.00 Mechanical & Electrical Engineering =$50,545.00 Civil Engineering=$25,000.00 Landscape Architecture=$10,000.00 Cost Consulting=$14,000.00 (SD, DD&50% CD estimates) Code Consulting=$2,000.00 Disbursement Allowance=$10,000.00 Total=$326,755.00+HST We thank you for this opportunity and will be pleased to respond to any questions and comments that you may have. • Very best regards, l � • Bob Goyeche, Principal Rounthwaite Dick&Hadley Architects Inc. rd h :j g .: O 5 • 4 a:.« . �;y :,r: ,Y; ��t. i ti>e,: ;t,?t r= �'f�u7 t.�' _s a�" www.rdharch.com ATTACHMENT# LI TO REPORT#C S E• Z The Corporation of the City of Pickering By-law No. Being a by-law to authorize the Architectural & Engineering Services and Construction of the Pickering Indoor Soccer Facility in the City of Pickering, and the issuance of debentures in the amount of$4,875,000 Whereas Section 11 of the Municipal Act, 2001, as amended, provides that a lower-tier municipality may pass by-laws respecting matters within the spheres of jurisdiction described in that Section; and, Whereas Subsection 401(1) of the Municipal Act, 2001, as amended, provides that a municipality may incur a debt for municipal purposes, whether by borrowing money or in any other way; and, Whereas Subsection 401(3) of the Municipal Act, 2001, as amended, provides that a lower-tier municipality in a regional municipality does not have the power to issue debentures; and, Whereas The Regional Municipality of Durham has the sole authority to issue debentures for the purposes of its lower-tier municipalities including The Corporation of the City of Pickering (the "City"); and, Whereas the Council of the City wishes to proceed with debentures financing for the Architectural & Engineering Services and Construction of the Pickering Indoor Soccer Facility project; and Whereas the Council of the City wishes the Architectural & Engineering Services component to proceed in respect of the Pickering Indoor Soccer Facility project; the tendering of the Construction component to follow after the Architectural & Engineering Services component has been completed; and, • Whereas before the Council of the City authorizes the issuance of debentures for the Architectural & Engineering Services and Construction of the Pickering Indoor Soccer Facility project on the date hereof the Council of the City had the Treasurer update the City's Annual Repayment Limit, the Treasurer calculated the estimated annual amount payable in respect of such project and determined that such annual amount would not cause the City to exceed the updated Limit and therefore, Ontario Municipal Board approval is not required as per Section 401 of the Municipal Act, 2001, as amended, and the regulations made thereunder; BY-LAW NO Page 2 And whereas after determining that Ontario Municipal Board approval is not required, the Council of the City approved report CS 50-12 on the date hereof and engaged the services of Rounthwaite Dick and Hadley Architects Inc. for the Architectural & Engineering Services component for the Pickering Indoor Soccer Facility project; Now therefore the Council of The Corporation of the City of Pickering hereby enacts as follows: 1. That the City proceed with the project referred to as ""Architectural & Engineering Services and Construction of the Pickering Indoor Soccer Facility"; 2. That the estimated costs of the project in the amount of$4,876,089.89 be financed as follows: a) That the sum of$4,875,000 be financed by the issue of debentures by The Regional Municipality of Durham over a period not to exceed 15 years at a rate to be determined; b) That the sum of$1,089.89 be funded from property taxes; 3. That the funds to repay the principal and interest of the debentures be provided for in the annual Current Budget for the City commencing in 2013 and continuing thereafter until the loan is repaid. By-law read a first, second and third time and finally passed this 19th day of November, 2012. David Ryan, Mayor Debbie Shields, City Clerk