ANNUAL REPORT 2006 - Denver Zoo

HeadlineFINANCIALgoes CONDITION hereCommod Denver Zoo dit enjoyed wissi. Ure a successful molorem year withipit net operating loboreet ut income acilit laorer of $760,706 in enim despiteamconullute unexpected costs ming related ero odolenit to utilities augiam andipit increased lummy cost nit augait of providing iniamet, high veliquisi qualityte employee delenis nulla benefits. augiam, While veros unrestricted at.Agnimrevenuesdignimwerevullamessentiallydit adflattiofrom the priorcommodoyear, the netloborperincomesequiscillawas effectivelyaditderivedeuifromtiegoodvolestrudbudgeteratiocontrol.do commynullumsan Total unrestricted venis ea and facidunt restricted la revenuefacipsusto for Denver odigna Zoological feugait Foundation accumsan shown verincin Figure henis 1 was nummy $24,710,300 nosto od which elit la was coretio significantly odit amconsent lower than amconum in 2005 sandre whendoloborer the zoo requested acinci bla a $7,000,000 ad elisi. bondIspaymentnosto dolentfrom thepratcity.alislInutNovembernonulput1999,doloborthe voterssuscilapprovedenim nisa $62,500,000nibh exercilitbondillanfor theutpatumzoo. Thesandiam,processquisi.of requesting abond draw requires Denver Zoo to raiseEx esecte et nit vent wisis autet praessi1:1 matching funds except for the initialsmoleniat alisi tion estrud dolor sustoconsequ issisisldraw of $7,500,000 which did not require amatch. The bond agreement necessitatesthat the zoo spend at least 85% of the bondproceeds within three years of receipt of thefunds; therefore, the zoo requests a drawon the funds only when matching funds areon hand and has the ability to spend themoney in the requisite period.Scientific and Cultural Facilities Tax District(SCFD) income of $6,124,171 continues tobe the largest source of revenue at 24.8%of total revenue (Fig.1). Prior to the secondhalf of 2006, the zoo received 90% of SCFDrevenue as unrestricted funds and theremaining 10% as restricted funds. As aresult of the SCFD renewal process, theformula was changed to 95% unrestrictedand 5% restricted which went into effect inJuly 2006 and represented approximately$80,000. The zoo may use the unrestrictedportion for almost any expense other thandebt repayment while the restricted portionis subject to examination and approval bythe SCFD board.Operating revenue was essentially flatfrom 2005 to 2006 but much of this maybe attributed to the severe blizzards inlate December which closed the zoo forsix days and made visits difficult on otherdays. During December, the normally wellattended night event, Zoolights, was closedon several nights due to severe weather andicy conditions. Management estimates thatnearly $225,000 of Zoolights revenue waslost in December because of the weather.Education revenue of $813,417 represents3.3% of total revenue (Fig.1) but grew animpressive 16% over 2005. All programswithin this department including thepopular Summer Safari and Bunk with theBeasts grew to full capacity in 2006. Theability to provide full day programs ratherthan only half day programs has beenpopular with children as well as beneficialto working parents.Membership revenue represents 13.9% oftotal revenue (Fig. 1) and grew 4% comparedto 2005. While the severe weather keptmembers and other visitors from visitingthe zoo, patrons showed their supportfor the zoo by buying membershipson-line from their homes. Membershipincome generally rises and falls in linewith Admission revenue, but in 2006, thiscategory increased while Admission incomedecreased marginally by $9,026. The abilityto grow our membership base whenAdmission revenue declines is testimonythat members believe that the zoo is avalued community resource and thatmemberships continue to be a good value.SCFD Support24.8%Gate Admission20.2%Donations & Grants14.8%Memberships13.9%[ FIGURE 1 ]Support and Revenue by SourceTOTAL INCOME* $24,710,300ConcessionsDenver City Funds7.0%Special Events6.1%Other5.4%4.6%Education3.3%56Above | The side-striped palm viper isnative to forests of Costa Rica and Panama.They feed on rodents, small birds, lizards,and frogs.25%20%15%10%5%0%* Total unrestricted and restricted funds