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Pool lost less money in 2004 than in 2003

November 11, 2004|by TARA REILLY

HANCOCK - The Hancock Municipal Pool lost money in fiscal year 2004, but the loss was less than it sustained in the previous fiscal year, Pool Manager Bill Sterner said Wednesday.

Sterner presented the pool's financial report to the Town Council Wednesday at its regular monthly meeting.

The pool lost approximately $2,844 in fiscal year 2004, down from the approximately $9,261 it lost in fiscal year 2003.

"It's substantially better than what we did last year," Sterner said.

The pool's income - generated by daily admission, parties, concession sales and other sources of revenue - was $16,383 in fiscal year 2004 , according to the report.

The expenses for the pool totaled approximately $19,227.

Sterner said the pool's $2,844 loss for fiscal year 2004 was a result of a decrease in daily attendance.

Revenue from parties increased by nearly $2,000 and the pool gained approximately $668 through the town's concession contract with Pepsi, Sterner said.

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Sterner said the pool made a series of cuts to its budget to reduce its losses in fiscal year 2004, including cutting payroll by 20 percent.

In fiscal year 2003, the pool generated $15,377 and had expenses of $24,638, according to the report.

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