O
PERATINGP
ROF
ORMAG
ENERALA
SSUMPTIONS(1) The projections assume that all students will be assessed a student infrastructure fee of $9 per credit hour. Per MCC, the paid student credit hours approximate 125,000 annually. The pro forma assumes a 0.5%
increase in paid student credit hours per year.
(2) Assumes Health Science Education Building would not be subject to increase in state funding.
E
DUCATIONA
SSUMPTIONSO
N-C
AMPUS(1) Student tuition is based on incremental revenues, at $102 per credit hour, from existing Health Sciences programs and new Health Sciences programs including physical therapy, respiratory therapy, and health information technology. Pro forma assumes no per credit hour student tuition increases and no increase in state funding.
(2) Incremental revenue from new classes for existing class space (vacated by Health Sciences) is based on approximately 13,400 incremental credit hours at $102 per credit hour. Pro Forma assumes no per credit hour student tuition increases and no increase in state funding. Credit hours projected to increase 2% annually.
(3) Health Science salaries and benefi ts are based on requirements for incremental Health Science class demand, and are projected to increase 3% annually.
(4) Salaries for existing class space are based on requirements for incremental class demand. It is assumed that adjunct staff would be teaching these classes with salaries based on average salary rates for the 2014 / 2015 academic year. Benefi ts would not be required for adjunct staff . (5) Pro forma includes operating expenses required for incremental class
demand.
fi rst four years per MCC (increasing 3% annually thereafter) and service contracts other approximates $.60 per square foot and includes HVAC, elevator, pest control, window washing, landscaping, snow removal, and cable television/audio, increasing 3% annually.
(8) Repairs and maintenance approximate $1.60 per square foot annually per MCC.
(9) Property insurance was based on approximately $.36 per square foot per MCC, increasing 3% annually.
E
DUCATIONA
SSUMPTIONSO
FF-C
AMPUS (1) Salaries are based on support staff requirements for an off campusfacility, including library, computing, counseling, tutoring, career services, registration, security and administrative support. Benefi ts, where applicable, are included at 35%.
(2) Utilities include water, gas, electric, and telephone and are budgeted at
$2.13 per square foot per MC and a also include a charge for tele-data communications at $30k per year, increasing 3% per year.
(3) Between campus travel provision provided for faculty and support staff commuting to and from main campus.
M
EDICALC
LINICA
SSUMPTIONS(1) Rental income assumes the tenant will be charged $27 per square foot annually for 10,000 sf of rentable space. Projections assume rent will increase 3% annually. Potential services include immediate care, physical therapy, occupational therapy, chiropractic care, and behavioral health.
Assumes tenant build out and related furnishings will be the responsibility of the tenant.
(2) Service contracts – environmental include HVAC, elevator, pest control, window washing, landscaping, snow removal, and cable television/audio.
Assumes this is a cost to MCC.
(3) Repairs and maintenance is projected at $1.60 per square foot at stabilization. Assumes this is a cost to MCC.
P
ARTICIPATION(1) Scenarios A1/C1 assume non-student fees revenue from a stabilized member base of approximately 2,600 members by year three which include the community, faculty, and staff of MCC. The proposed non-student monthly dues structure is $59 for a single, $94 for a couple, $129 for a family, $53 for a senior single, and $85 for a senior couple, increasing 3% annually. It is assumed the fi tness center will retain 70% of its non-student members each year and therefore will need to replace 30% of its non-student members each year.
(2) The projections assume that upon joining, each non-student individual member will be charged an enrollment fee approximating $100 and assumes a 25% discount for special marketed promotions during certain periods of the year. As part of enrollment, members may be off ered a sub-maximal health assessment including:
Resting vitals:
Resting heart rate
Blood Pressure
Percent Body Fat
Blood Lipids and Glucose
Waist & Hip Circumference Health-Related Fitness tests include:
Sub-max Oxygen Uptake (estimated from a walking test on treadmill)
Muscle Endurance (push-ups)
Muscle Strength (handgrip dynamometer)
Flexibility (sit-and-reach)
(3) Ancillary revenues represent income from services such as therapeutic
(5) The Project will be staff ed with approximately 29 full time equivalents. The projections assume an average benefi t rate on salaries at 25% of labor, with salaries increasing 3% annually. Lifeguards are not required in Illinois and are not included in the staffi ng projections. The Project will be open year round, with the exception of specifi ed holidays and will operate approximate 96 hours per week.
(6) Utilities include water, gas, electric and telephone and are budgeted at
$4.50 per square foot.
(7) Service contracts – environmental include contracts for HVAC, elevator, pest control, window washing, landscaping, snow removal and cable television/audio.
(8) Assumes third party management of the fi tness center at $120k annually.
(9) Bank fees and other include bank fees of approximately 2% of fee for service income and offi ce supplies, books and subscriptions, printing and postage, increasing 3% annually.
(10) Repairs and maintenance is projected at $1.60 per square foot at stabilization.
(11) Marketing and advertising to capture new members is based upon $60 on average per new member and will include direct mail, radio, cable, and print media. Assumes the College will also market the Project in public communications.
(12) Locker room, pool and housekeeping supplies include pool supplies, cleaning chemicals, paper products, laundry supplies, shower supplies, and toiletry items. Expenses are based on member ramp up or square footage, as appropriate, increasing 3% annually.
(13) Service contracts admin and fi tness includes offi ce machine rental, plant rental, membership and fi tness software licensing, and fi tness preventative maintenance, increasing 3% annually.
(14) Property insurance is based on approximately $.36 per square foot per MCC, increasing 3% annually.