HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 10/24/2013 (3) KENT
AGENDA
City of Kent
Special Events Center
Public Facilities District Meeting
Thursday, October 24, 2013 @ 4:00 p.m.
ShoWare Center
625 West James Street
Boardmembers
Mike Miller - Randall Smith - Cass Prindle - Lew Sellers - Jeff Piecewicz
Officers
Mike Miller, Chair - Ronald F. Moore, Secretary - Robert Nachlinger, Treasurer
I. Call to Order
a. Introductions
b. Welcome reappointed board member - Mike Miller
c. Motion to approve the minutes of July 25, 2013
II. Finance Reports
a. City of Kent - Bob Nachlinger, Finance Director
i. 2013 State Audit Update - Bob Nachlinger, Finance Director
b. ShoWare Center - Arletta Voter, ShoWare Director of Finance
III. Operation Update
a. GM Update - Tim Higgins, ShoWare General Manager
b. Marketing Update - Tim Higgins, ShoWare General Manager (Ryan Hart,
ShoWare Director of Marketing)
c. City Update - Ben Wolters, Economic & Community Development Director
IV. Seattle Thunderbirds Update
a. Thunderbird Sales, Marketing & Attendance Update: Colin Campbell, Vice
President/Assistant General Manager
b. Advertising & Suite Sales
V. Other Business
VI. Adjournment
f
KENT SPECIAL EVENTS CENTER
PUBLIC FACILITIES DISTRICT FUND (PFD)
September 30, 2013
2008 2009 2010 2011 2012 2013
Actual Actual Actual Actual Actual Est Actual
Beginning Fund Balance 166,327 105,249 113,261 121,211 123,989
Revenues
Sales & Use Tax 786,843 576,296 622,136 649,277 677,937 691,870
Intergovernmental 3,072,614 3,129,437 3,093,077 3,064,025 3,121,750
Interest - Sales Tax 2,312 1,279 880 646 561 580
Total Revenues 789,155 3,650,189 3,752,453 3,743,000 3,742,523 3,814,200
Total Resources 2,559,032 3,822,822 3,857,702 3,856,261 3,863,734 3,938,189
Expenditures
Services and Charges 758 1,505
Debt Service 2,392,705 3,716,815 3,744,441 3,735,050 3,738,240 3,812,428
Total Expenditures 2,392,705 3,717,573 3,744,441 3,735,050 3,739,745 3,812,428
Change in Fund Balance 166,327 (61,078) 8,012 7,950 2,778 1,772
Ending Fund Balance 166,327 105,249 113,261 121,211 123,989 125,761
KENT PUBLIC FACILITIES DISTRICT
Sales Tax Collections
Inception to Date
Collected For the
in Month of 2008 2009 2010 2011 2012 2013
March January 68,928.08 43,938.87 43,066.80 47,395.15 46,602.21 51,168.67
April February 64,340.03 40,442.93 44,888.03 45,652.41 49,815.46 49,710.74
May March 77,107.07 47,073.92 55,381.54 54,357.38 54,277.64 59,046.95
June April 72,061.77 44,944.15 47,699.19 50,376.18 49,261.77 55,538.05
July May 73,138.12 45,221.78 47,255.93 54,864.70 56,321.68 60,088.10
August June 82,904.41 50,355.97 54,575.49 57,478.70 61,884.22 62,538.27
September July 61,870.79 47,063.45 52,789.08 52,706.22 57,393.92 62,625.41
October August 57,569.76 46,071.06 51,167.58 54,198.64 59,303.71
November September 63,238.50 60,040.81 59,765.33 59,118.63 61,748.38
December October 55,649.74 46,106.71 52,382.66 59,964.74 57,441.73
January November 48,144.96 41,577.34 49,791.39 50,966.32 54,623.15
February December 61,890.26 63,459.30 63,372.68 68,908.15 69,263.39
Total 786,843.49 576,296.29 622,135.70 655,987.22 677,937.26 400,716.19
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KENT EVENTS CENTER OPERATING FUND
September 30, 2013
2009 2010 2011 2012 2013 2013
Actual Actual Actual Actual Budget Est Actual
Beginning Fund Balance (700,287) (1,025,923) (1,627,111) (1,910,845) (2,735,809) (2,735,809)
Revenues
Admissions Tax 259,156 199,199 193,900 281,458 350,000 273,000
SMG Income 200,000
Transfer In from GF 500,000 500,000
Total Revenues 259,156 199,199 193,900 281,458 1,050,000 773,000
Total Resources (441,131) (826,724) (1,433,211) (1,629,387) (1,685,809) (1,962,809)
Expenditures
Salaries &Benefits 69,783
Supplies 236
Services 545,773 - 842,763 477,634 1,092,422 510,000 -505,094
Transfers Out 14,000
Total Expenditures 615,792 842,763 477,634 1,106,422 510,000 505,094
Change in Fund Balance _ (356,636) (643,564) (283,734) (824,964) 540,000 267,906
Ending Fund Balance (1,056,923) (1,669,487) (1,910,844) (2,735,809) (2,195,809) (2,467,903)
10/21/2013
ShoWare Center
Income Statement
For the Quarter Ending September 30, 2013
August August September September Total YTD Total YTD
July Actual July Budget Actual Budget Actual Budget Actual Budget Variance
Direct Event Income
Rental Income $ 51,800 $ 26,500 $ 21,556 $ 4,100 $ 52,489 $ 39,344 $ 746,150 $ 629,047 $: 117,103
Service Revenue 5,246 1,096 23,901 0 11,921 3,525 90,676 53,509 37,167
Service Expenses (33,243) (21,806) (45,538) (5357) (431988) (31,363) (680,013) (592,203) (87,810)
Total Direct Event Income 23,803 5,790 (81) (1,257) 20,421 11,506 156,813 90,353 66,460
Ancillary Income
F&B Concessions 21,431 33,787 17,722 0 26,776 20,905 356,017 i350,655 5,362
F&B Catering 2,766 7,792 4,380 1,405 2,687 4,323 120,509 104,353 16,156
Novelty Sales 1,677 1,350 - 0 498 1,4001. 19,641 14,450 5,191
Total Ancillary Income 25,974 42,929 22,102 1,405 29,961 26,528 : 496,167 '.469,458 26,709
Other Event Income
Luxury Box Ticket Sales 19,639 7,700 6,730 0 132 3,200 43,591 37,500 6,091
Ticket Rebates (199) 17,250 11,413 0 7,694 7,000 93,445 86,850 6,595
Facility Fees 10,586 13,800 8,416 0 11,188 8,672; 151,807 i.132,899 18,908
Total Other Event Income 30,026 38,750 26,559 0 19,014 18,872 '. 288,843 257,249 31,594
Total Event Income 79,703 87,469 48,580 149 69,396 56,906 941,823 817,060 124,763
Other Operating Income 48,991 46,917 49,995 46,817 51,822 49,430 ' 491,871 481,121 10,750
Adjusted Cross Income 128,694 134,286 97,575 46,965 121,218 106,336 1,433,694 1,298,181 135,5.13
INDIRECT EXPENSES
Salaries&Wages 75,052 89,018 79,391 93,727 84,877 94,495 ` 924,544 '_:953,404 (28,860)
Payroll'raxes&Benefits 17,007 25,262 19,313 25,262 17,980 25,262 r 201,783 227,358 (25,575)
Labor Allocations tolbents (15,572) (12,618) (15,494) (4,546) (45,162) (16,223) (311,025) (258,799) (52,226)
Net Salaries and Benetts 76,487 101,662 83,210 104,443 57,695 103,534 815,302 921,963 (106,661).
Contracted Services 9,607 10,464 10,470 10,464 10,222 10,464 92,957 96,176 (3,219)
General and Administrative 16,346 19,493 14,686 17,993 16,306 19,503 193,280 t194,043 (763).
Operating 2,738 5,018 3,898 2,926 5,602 5,318 - 45,783 40,977 4,806.
Repairs&Maintenance 14,965 12,267 17,216 20,667 16,047 4,267 71,193 64,103 7,090
Operational Supplies 17,166 6,000 4,838 6,400 10,024 15,750 59,979 51,948 8,031
Insurance 6,987 6,134 6,993 6,134 6,993 6,134 ` 65,777 63,206 2,571
Utilities 23,729 23,100 46,074 47,000 51,147 51,000 337,131 '319,000 18,131
SMG Management Fees 11,018 11,050 11,018 11,050 11,018 11,050 99,157 99,450 (293)
Total Indirect Expenses 179,043 195.188 199,403 227,077 185,054 227,020 1,780,559 1,850,866 (70,307)
Net Income(Loss) $ (50,349) $ (60,902) $(IK828) $(180,112) $ (63,836) $(120,684) $ (346,865) $ `.(552,685) $') 205,820
2013 Admission Tax $ 6,599 $ 6,521 $ 625 $ 41,369
Net Income(Loss) $ (305,496) $ (552,685) $`= 747,189-
Washington State Auditor's Office
Financial Statements audit Report
City ent Special Events Center
Public Facilities District
King County
Audit Period
January 1, 2012 through December 31, 2012
Report No. 1010586
Issue Date WASHINGTON
October 7, 2013 TROY E L L EY
�vm. aB
STATE AUDITOR
0
Washington State Auditor
Troy Kelley
October 7, 2013
Board of Appointed Representatives
City of Kent Special Events Center Public Facilities District
Kent, Washington
Report on Financial Statements
Please find attached our report on the City of Kent Special Events Center Public Facilities
District's financial statements.
We are issuing this report in order to provide information on the District's financial condition.
Sincerely,
TROY KELLEY
STATE AUDITOR
Insurance Building,P.O. Box 40021 •Olympia,Washington 98504-0021 •(360)902-0370 • TDD Relay:(800)833-6388
Table n is
City of Kent Special Events Center Public Facilities District
King County
January 1, 2012 through December 31, 2012
Independent Auditor's Report on Internal Control over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards..................................................................... 1
Independent Auditor's Report on Financial Statements.............................................................. 3
FinancialSection........................................................................................................................ 5
Independent Auditor's Report on Internal
Control over Financial Reporting and on
Compliance and Other Matters Based on a
Audit of Financial Statements Performed in
Accordance with Government Auditing
Standards
City of Kent Special Events Center Public Facilities District
King County
January 1, 2012 through December 31, 2012
Board of Appointed Representatives
City of Kent Special Events Center Public Facilities District
Kent, Washington
We have audited, in accordance with auditing standards generally accepted in the United States
of America and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States, the financial statements of
the governmental activities and each major fund of the City of Kent Special Events Center
Public Facilities District, King County, Washington, as of and for the year ended December 31,
2012, and the related notes to the financial statements, which collectively comprise the District's
basic financial statements, and have issued our report thereon dated September 20, 2013.
INTERNAL CONTROL OVER FINANCIAL REPORTING
In planning and performing our audit of the financial statements, we considered the District's
internal control over financial reporting (internal control) to determine the audit procedures that
are appropriate in the circumstances for the purpose of expressing our opinion on the financial
statements, but not for the purpose of expressing opinions on the effectiveness of the District's
internal control. Accordingly, we do not express an opinion on the effectiveness of the District's
internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to
prevent, or detect and correct, misstatements on a timely basis. A material weakness is a
deficiency, or a combination of deficiencies, in internal control such that there is a reasonable
possibility that a material misstatement of the District's financial statements will not be
prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency,
or a combination of deficiencies, in internal control that is less severe than a material weakness,
yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph
of this section and was not designed to identify all deficiencies in internal control that might be
Washington State Auditor's Office -
1
material weaknesses or significant deficiencies. Given these limitations, during our audit we did
not identify any deficiencies in internal control that we consider to be material weaknesses.
However, material weaknesses may exist that have not been identified.
COMPLIANCE AND OTHER MATTERS
As part of obtaining reasonable assurance about whether the District's financial statements are
free from material misstatement, we performed tests of the District's compliance with certain
provisions of laws, regulations, contracts and grant agreements, noncompliance with which
could have a direct and material effect on the determination of financial statement amounts.
However, providing an opinion on compliance with those provisions was not an objective of our
audit, and accordingly, we do not express such an opinion.
The results of our tests disclosed no instances of noncompliance or other matters that are
required to be reported under Government Auditing Standards.
PURPOSE OF THIS REPORT
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of
the District's internal control or on compliance. This report is an integral part of an audit
performed in accordance with Government Auditing Standards in considering the District's
internal control and compliance. Accordingly, this communication is not suitable for any other
purpose. However, this report is a matter of public record and its distribution is not limited. It
also serves to disseminate information to the public as a reporting tool to help citizens assess
government operations.
TROY KELLEY
STATE AUDITOR
September 20, 2013
Washington State Auditor's Office
2
Independent Au itr's Report on Financial
Statements
City of Kent Special Events Center Public Facilities District
King County
January 1, 2012 through December 31, 2012
Board of Appointed Representatives
City of Kent Special Events Center Public Facilities District
Kent, Washington
REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of the governmental activities and
each major fund of the City of Kent Special Events Center Public Facilities District, King County,
Washington, as of and for the year ended December 31, 2012, and the related notes to the
financial statements, which collectively comprise the District's basic financial statements as
listed on page 5.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial
statements in accordance with accounting principles generally accepted in the United States of
America, this includes the design, implementation, and maintenance of internal control relevant
to the preparation and fair presentation of_ financial statements that are free from material
misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United
States of America and the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the District's preparation and fair presentation of the
financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
District's internal control. Accordingly, we express no such opinion. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
Washington State Auddors Office
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We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects,
the financial position of the governmental activities and each major fund of the City of Kent
Special Events Center Public Facilities District, as of December 31. 2012, and the respective
changes in financial position thereof for the year then ended in accordance with accounting
principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management's discussion and analysis on pages 6 through 9 be presented to supplement the
basic financial statements. Such information, although not a part of the basic financial
statements, is required by the Governmental Accounting Standards Board who considers it to
be an essential part of financial reporting for placing the basic financial statements in an
appropriate operational, economic or historical context. We have applied certain limited
procedures to the required supplementary information in accordance with auditing standards
generally accepted in the United States of America, which consisted of inquiries of management
about the methods of preparing the information and comparing the information for consistency
with management's responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express
an opinion or provide any assurance on the information because the limited procedures do not
provide us with sufficient evidence to express an opinion or provide any assurance.
OTHER REPORTING REQUIRED BY GOVERNMENT AUDITING STANDARDS
In accordance with Government Auditing Standards, we have also issued our report dated
September 20, 2013 on our consideration of the District's internal control over financial reporting
and on our tests of its compliance with certain provisions of laws, regulations, contracts and
grant agreements and other matters. The purpose of that report is to describe the scope of our
testing of internal control over financial reporting and compliance and the results of that testing,
and not to provide an opinion on internal control over financial reporting or on compliance. That
report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the District's internal control over financial reporting and compliance.
TROY KELLEY
STATE AUDITOR
September 20, 2013
Washington State Auditor's Office
4
Financial Section
City of Kent Special Events Center Public Facilities District
King County
January 1, 2012 through December 31, 2012
REQUIRED SUPPLEMENTARY INFORMATION
Management's Discussion and Analysis-2012
BASIC FINANCIAL STATEMENTS
Governmental Funds Balance Sheet/Statement of Net Position —2012
Governmental Funds Statement of Revenues, Expenditures and Changes in Fund
Balances/Statement of Activities— 2012
Notes to Financial Statements— 2012
Washington State Auditor's Office
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I
i
INTRODUCTION:
The City of Kent formed the City of Kent Special Events Center Public Facilities District (PFD) in August
2007. The corporation was established pursuant to State legislation and codified under RCW 35,57,
with the powers and authority set forth by law. The purpose of the PFD is to provide the financing
necessary to construct an events center in the City of Kent. The PFD provided the financing for the
design and construction of the special events center, known as ShoWare Center. Although the PFD
provided much of the funding for the center, the asset is owned by the City of Kent per the interlocal
agreement between the PFD and the City.
This discussion and analysis of the PFD's financial performanceprovides an overview of the PFD's
financial activities for the fiscal year ended December 31, 2012. The intent of this discussion and
analysis is to look at the PFD's financial performance as a whole. Readers should also review the
notes and basic financial statements to enhance their understanding of the PFD's financial
performance.
FINANCIAL HIGHLIGHTS:
• Net position ($60,394,797) increased by $617,480 or 1 percent from 2011 levels.
• Long-term debt of$60,518.787 decreased by $614.700 or 1 percent from 2011 levels. The key
factor impacting the decrease was the annual debt service payments.
Sales tax revenues of $677,937 increased by $28,660 or 4.4 percent compared to amounts
collected in 2011.
• Intergovernmental revenue of $3,064,025 decreased by $29,052 or 0.9 percent as compared to
2011.
OVERVIEW OF THE FINANCIAL STATEMENTS:
This discussion and analysis is intended to serve as an introduction to the City of Kent Special Events
Center Public Facilities District (PFD) basic financial statements. The PFD's basic financial statements
are comprised of governmental funds: (1) Balance Sheet/Statement of Net Position, (2) Revenues,
Expenditures and Changes in Fund Balance/Statement of Activities and (3) notes to the financial
statements.
The government-wide financial statements and fund financial statements have been combined in the
basic financial statements segregated in separate columns and are accompanied by a reconciliation
between the statements (see the "Adjustments" column for details).
• Government-wide financial statements. The government-wide financial statements are
designed to provide readers with a broad overview of the PFD's finances in a manner similar to
a private-sector business. The government-wide financial statements include 1) Statement of
Net Position and 2) Statement of Activities.
• Fund financial statements. A fund is a grouping of related accounts that is used to maintain
control over resources that have been segregated for specific activities or objectives. The PFD
uses fund accounting to ensure and demonstrate compliance with finance-related legal
Washington State Auditors Office
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requirements. All of the funds of the PFD are major governmental funds for the purposes of this
financial report. The focus of these funds is on near-term inflows and outflows of spendable
resources, aS well as balances of spendable resources available at the end of the fiscal year.
Such information may be useful in evaluating the PFD's near-term financing requirements. The
fund financial statements include 1) Balance Sheet and 2) Revenues, Expenditures and
Changes in Fund Balance.
Balance Sheet/Statement of Net Position - This statement presents a snap-shot view of the assets of
the PFD, the liabilities it owes and the net difference or net position. It focuses on the resources
available for future operations.
Revenues, Expenditures and Changes in Fund Balance/Statement of Activities - This statement
presents all revenues and expenditure of the PFD during the fiscal year, including other sources and
uses.
Notes to the financial statements - The notes to the financial statements provide additional
information that is essential to a full understanding of the data provided in the financial statements and
should be read in conjunction with the financial statements.
GOVERNMENT-WIDE FINANCIAL ANALYSIS:
The PFD's overall financial position increased in 2012 by $617,480 or 1 percent from 2011 levels to a
deficit of $60,394,797 as compared to a deficit of $61,012,277. This increase in fund balance primarily
reflects the reduction in outstanding debt by$614,700.
City of Kent's Special Events Center
Public Facilities District
Statement of Net Position
2012 2011
Assets
Current and other assets $ 123,990 $ 121,210
Total Assets _ 123,990 121,210
Liabilities
Long-term debt 60,518,787 61.133,487
Total Liabilities 60518787 61,133,487
Net Position
Unrestricted (60,394.797) (61,012,277)
Total Net Position $(60,394,797) $(61,012,277)
Highlights from the Statement of Net Position:
• Taxes receivables ($123,913) increased by $3,981 or 3.3%. For the fiscal year, the PFD
averaged a 4.4% increase over the previous year for sales tax revenues.
• Outstanding long-term debt was reduced by $614,700 primarily as the result of the principal
payment made during 2012.
• The PFD's deficit net position is the result of the agreement established between the PFD and the
City of Kent. The PFD was established to provide the financing necessary to construct an
events center in the City of Kent. The PFD issued bonds to fund the design and
construction of the special events center, known as ShoWare Center. Although the PFD
provided much of the funding for the center, the asset is owned by the City of Kent. Since
the asset resides within the financials of the City of Kent, but the long-term debt belongs
Washington State Auditor's Office
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to the PFD, the PDF will likely show a deficit net position throughout the life of the bonds.
The last of the bonds will mature in December 2037.
The following table details the changes in net position.
City of Kent's Special Events Center
Public Facilities District
Statement of Activities
2012 2011
Revenues
Sales tax $ 877,937 $ 649,277
Intergovernmental revenues 3,064,025 3,093,077
Investment earnings 562 645
Total Assets 3.742.524 3,742,999
Expenses
Other services and charges 1.505 -
Interest expense 3,123,539 3,145,350
Total Liabilities 3,125 044 3,145,350
Increase in net position 617,480 597,649
Net Position-January 1 (61,012,277) (61,609,926)
Net Position-December 31 $(60 394 797) $(61 012 277)
Overall, the PFD saw an increase in net position of$617,480. Key highlights:
• Sales tax revenue ($677,937) increased by $28,660 or 4.4 percent compared to the previous
year as the result of the improving economy.
• Intergovernmental revenue ($3,064,025) decreased by $29,052 or .9 percent as compared to
2011. With the improved sales tax revenue collections, the PFD's reliance on the City of Kent
contributions decreased.
• Interest expense ($3,123,539) decreased by $21,811 or 0.7 percent as compared to 2011
reflecting the reduction of outstanding bonded debt.
FINANCIAL ANALYSIS OF THE GOVERNMENT'S FUNDS:
The focus of the governmental funds is to provide information on near-term inflows and outflows of
spendable resources, as well as on balances of spendable resources available at the end of the fiscal
year. Such information may be useful in assessing the PFD's near-term financing requirements.
At the end of the current fiscal year, the PFD's governmental funds reported combined ending fund
balances of$123,990, an increase of$2,780 from the previous year.
The General Fund is the chief operating fund of the PFD. At the end of the current fiscal year, fund
balance of the General Fund was $123,990 representing a $2,780 or 2.3 percent increase from 2011.
The primary revenue sources for the general fund are sales tax revenues and interest income. Sales
taxes for 2012 were $677,937, an increase of $28,660 or 4.4 percent from 2011. Interest income for
2012 was $562, which represented a decrease of$83 or 12.9 percent from 2011.
The Debt Service Fund is used to account for payment of principal and interest of long-term debt.
Transfers from the PFD's General Fund along with intergovernmental funds revenue provide the
financing source to cover such debt. During 2012, the PFD paid $630,000 toward principal and
$3,108,239 for interest expense for debt service.
Washington State Auditor's Office
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City of Kent Special Events Center Management's Discussion and Analysis
Public Facilities District (PFD) For the Year Ended December 31, 2012
LONG-TERM DEBT:
At the end of the current fiscal year, the PFD had total bonded debt outstanding of$60,518,787. Of this
amount, $52,768,787 or 87.2 percent is Sales Tax Bonds, which are secured by a pledge of Sales Tax
Revenues (consisting of proceeds of the PFD sales and use taxes). The remainder of the bonded debt
($7,750,000 or 12.8 percent) are payable from and secured by a pledge of PFD revenues received from
the City under the terms of the Contingent Loan and Support Agreement. Under the Contingent Loan
and Support Agreement, the City has irrevocably pledged its full faith, credit and resources for making the
City contingent loan payments to the PFD as required in order for the PFD to meet their debt service
requirements on the bonds, if and to the extent that sales tax revenue and/or Special Events Center
revenues are not sufficient for that purpose.
City of Kent's Special Events Center
Public Facilities District
Outstanding Debt
December 31
2012 2011
Net sales tax bonds $ 52,768,787 $ 52,753,487
Revenue bonds 7.750,000 8,380,000
Total bonded debt $ 60,518,787 $ 61 133,487
The City of Kent's total bonded debt decreased by $614,700 or 1 percent during the current fiscal year.
The required debt service payments were made during 2012.
The PFD carries an "AA-" rating from Standard and Poor's as of November 30, 2011 and an "Al rating
from Moody's as of February 6, 2012.
ECONOMIC OUTLOOK:
The PFD continues to be faced with many of the challenges of the slow recovery to the recent
recession. Its primary revenue source is sales tax revenue which, although slowly recovering,
continues to lag from the pre-recession levels. Per the PFD's intergovernmental agreement with the
City, it receives revenue from the City to help cover its debt service should it not receive enough in
sales tax revenue during the year. Part of that funding comes from the proceeds of the ShoWare
Center operations. With the slow economic recovery, the ShoWare Center continues to not meet
expectations as far as the number of events and the number of attendees at such events. Because of
this, the PFD turns to the general operations of the City of Kent to help cover the annual debt service
costs. During 2012, the PFD received $3,064,025 from the City. For 2013, the City has budgeted
accordingly to reflect the needs of the PFD to cover such costs.
REQUESTS FOR INFORMATION:
This financial report is designed to provide a general overview of the City of Kent Special Events Center
Public Facilities District (PFD) finances. Questions concerning the information provided in this report
may be addressed to:
City of Kent Special Events Center, Public Facilities District
c/o Finance Department
220 Fourth Avenue South
Kent, WA 98032
Washington State Auditor's Office
9
CITY OF KENT SPECIAL EVENTS CENTER PFD
GOVERNMENTAL FUNDS BALANCE SHEET/STATEMENT OF NET POSITION
December 31,2012
Debt Service Balance Adjustments Statement of
General Fund Fund Sheet (note 21 Net Position
ASSETS
Restricted assets:
Cash&equity in pooled Investments(Note 3( $ 77 $ - $ 77 $ - _ $ 77
Receivables(net of allowance for estimated
uncollectables(Note 4)
Other taxes receivable 123,913 - 123,913 - 123,913
TOTAL ASSETS 123,990 - 123,990 - 123,990
LIABILITIES
Due within one year:
Revenue bonds payable,current portion(net of
unamortized discount(Note 5) - - - 730,000 730,000
Due In more than one year:
General obligation bonds payable,noncurrent
portion(net of unamortized discount,premiums
and deferred(Note 5) - - - - 52,768,797 52,768,787
Revenue bonds payable,noncurrent portion(net
of unamortized discount(Note 5) - - - 7,020,000 7,020,000
TOTAL LIABILITIES - - - 60,518,797 60,518,787
FUND BALANCE
Restricted 123,990 - 123,990 (123,990) -
TOTAL LIABILITIES AND FUND BALANCE 123,990 - 123,990 _ 60,394,797 60,S18,787
NET POSITION
Unrestricted (60,394,797)
TOTAL NET POSITION (60,394,797)
See accompanying notes to the financial statement
Washington State Auditor's Office
10
CITY OF KENT SPECIAL EVENTS CENTER PFD
GOVERNMENTAL FUNDS REVENUES,EXPENDITURES AND
CHANGES IN FUND BALANCES/STATEMENT OF ACTIVITIES
For the Year Ended December 31,2012
Debt Service Balance Adjustments Statement of
General Fund Fund Sheet (note 2) Activities
REVENUES
Taxes:
Sales and use tax - 677,937 - 677,937 677,937
Miscellaneous revenue:
Intergovernmental Revenue - 3,064,025 3,064,025 3,064,025
Interest income 562 - 562 562
TOTAL REVENUES 678,499 3,064,025 3,742,524 - 3,742,524
EXPENDITURES/EXPENSES
Other services and charges 1,505 - 1,505 1,505
Debt service
Principal - 630,000 63C,000 (630,000) -
Interest - 3,108,239 - 3,108,239 15,300 3,123,739
TOTAL EXPENDITURES/EXPENSES 1,505 3,738,239 3,739,744 (614,700) 3,125,044
EXCESS(DEFICIENCY)OF REVENUES OVER
EXPENDITURES/EXPENSES 676,994 (674,214) 2,780 614,700 617,480
OTHER FINANCING SOURCES(USES)
Transfers in - 674,214 674,214 (674,214) -
Transfers out (674,214) - _ (674,214) 674,214 -
TOTAL OTHER FINANCINGS SOURCES(USES) (674,214) 674,214 - - - -
NET CHANGE IN FUND BALANCE - 2,780 - 2,780 (2,780)
NET CHANGE IN NET POSITION 614,700 617,480
FUND BALANCES/NET POSITION
Beginning of year 121,210 - 121,210 (61,012,277)
End ofyear 123,990 - 123,990 (60,394,797)
See accompanying notes to the financial statements
Washington State Auditor's Office
11
I
�. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reporting Entity - The City of Kent established the Kent Special Events Center Public Facilities District
(PFD) in August 2007. The corporation was established pursuant to State legislation and codified under
RCW 35.57, with the powers and authority set forth by law. The PFD is established for the sole purpose
of pursuing the design, construction, and/or financing of a regional center comprised of a Special Events
Center, individually or in cooperation with any other governmental and/or private entities as allowed by
law.
On February 29, 2008, the PFD issued bonds in the amount of $63,280,000, For the fiscal year ended
December 31, 2012, the PFD generated $3,742,524 in revenue and had a deficit net position of
$60,394,797. Per the Interlocal agreement entered into between the City and PFD, monies were remitted
to the City to cover the expenditures on the construction of the events center to date.
Based on the criteria of Statement No. 14, as amended by Statement No. 61, of the Government
Accounting Standards Board (GASB), "The Financial Reporting Entity", the City has included the PFD in
the City's financial statements utilizing the discrete presentation method. The City appoints a voting .
majority of the PFD board, and the organization presents a potential financial benefit or burden to the
City. A copy of the City of Kent's Comprehensive Annual Financial Report is available at the City of Kent
located at 220—4"Avenue South, Kent, WA 98032.
A copy of the City of Kent's Special Events Center Public Facilities District's financial statements is
available at the City of Kent located at 220—4"Avenue South, Kent, WA 98032.
MEASUREMENT FOCUS, BASIS OF ACCOUNTING, AND FINANCIAL STATEMENT
PRESENTATION
The modified accrual basis of accounting is used by the PFD. Revenues and other financial resources
are recognized when they become susceptible to accrual, i.e., when the related funds become both
measurable and available to finance expenditures of the current period. To be considered "available",
revenue must be collected during the current period or soon enough thereafter to pay current liabilities.
For this purpose, revenue is considered to be available when collected within sixty days after year-end.
However, debt service expenditures, and payments for claims and judgments are recorded when due.
Sales taxes and intergovernmental revenues are susceptible for accrual. Investment earnings are
accrued when earned. Charges for services, fines and forfeitures, licenses and permits, and other
miscellaneous revenues are recorded upon receipt and are not susceptible for accrual. Expenditures are
recognized when the related fund liability is incurred. Since the recognition of depreciation does not
reduce net financial resources, it is not considered an expenditure.. Other exceptions include (1)
inventories of materials and prepaid items are reported as expenditures when purchased, (2) interest on
long-term debt is not accrued, but is recorded as an expenditure when due.
The PFD reports the following major governmental funds:
General Fund - The PFD's General Fund is maintained in the office of the Treasurer separate and
distinct from all other funds and accounts for the financial resources of the PFD which are not accounted
for in any other fund. Principal sources of revenue are comprised of sales and use tax and interest
income. Primary uses are transfers to the PFD's Debt Service Fund to cover its annual debt payment.
For so long as the bonds or any additional bonds remain outstanding, all District revenue will be
transferred to and deposited in the District General Fund when and as received from the city.
Debt Service Fund — The Debt Service Fund is maintained in the office of the Treasurer separate and
Washington State Auditor's Office
12
distinct from all other funds. This fund is used to account for payment of principal and interest of long-
term debt. Transfers from the PFD's General Fund along with intergovernmental funds revenue provide
the financing sources to cover such debt.
INTERFUND TRANSFERS
Transfers are required where revenue is generated in one fund and expenditures are paid for in other
funds. In the case of the PFD, the interfund transfers which occur are transferred to the debt service fund
to cover the annual debt service payments.
A summary of transfers by fund type is as follows:
Transfers In Transfgrs Out
Major Funds
General Fund $ $ 674,214
Debt Service Fund 674,214
Total $ 674,214 $ 674,214
2. RECONCILIATION OF GOVERNMENT-WIDE AND FUND FINANCIAL
STATEMENTS
EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND BALANCE
SHEET AND THE GOVERNMENT-WIDE STATEMENT OF NET POSITION
Included in the Balance Sheet/Statement of Net Position is the reconciliation between fund
balance — total governmental funds and net position — governmental activities as reported in
compliance with GASB Statement No. 34. Those adjusting items can be found in the"Adjustment"
column of the Governmental Funds Balance Sheet/Statement of Net Position. Details relating to
those adjustments are shown below.
Fund Balance—Total Governmental Funds $ 123,990
Amortized issuance discounts, premiums and deferred amounts
on refunded debt for governmental bonds:
Unamortized premium (990,074)
Unamortized deferred costs 1,371,287
Long-term liabilities, including bonds payable, are not due and
payable in the current period and therefore are not reported in the
governmental funds:
Sales tax bonds (53,150,000)
Revenue bonds (7,750,000)
Net Position —ending of Governmental Activities $ (60,394,797)
Washington State Auditor's Office
13
EXPLANATION OF CERTAIN DIFFERENCES BETWEEN THE GOVERNMENTAL FUND STATEMENT
OF REVENUES,,EXPENDITURES, AND CHANGES IN FUND BALANCES AND THE GOVERNMENT-
WIDE STATEMENT OF ACTIVITIES
Included in the governmental fund statement of revenues, expenditures, and changes in fund
balances/statement of activities is the reconciliation between net changes in fund balances— total
governmental funds and changes in net position of governmental activities in compliance with
GASB Statement No. 34. Those adjusting items can be found in the "Adjustment" column of the
Governmental Fund Revenues Expenditures and Changes in Fund Balances/Statement of
Activities. Details relating to those adjustments are shown below.
Net change in Fund Balance—Total Governmental Funds $ 2,780
Debt principal payments 630,000
Current year amortization of bond premiums & deferred issuance
Costs (15,300)
Change in Net Position of Governmental Activities $ 617,480
I
3. DEPOSITS AND INVESTMENTS
The deposits and investment practices of the PFD are accounted for with a modified pooled cash
arrangement. According to the investment policy presented in the Kent City Code Chapter 3.02, allowable
investments consist of the State Treasurer's Investment Pool, banker's acceptances, certificates of
deposit, U.S. government securities, and U.S. governmental agency securities.
DEPOSITS
The PFD's deposits and certificates of deposit are entirely covered by federal depository insurance (FDIC)
up to $100,000 and by collateral held in a multiple financial institution collateral pool administered by the
Washington Public Deposit Protection Commission (PDPC) for amounts over$100,000.
INVESTMENTS
Investments in the State Treasurer's Local Government Investment Pool (LGIP) are valued at amortized
cost, which approximates fair value. Certificates of deposits held by the LGIP are valued at historical
costs, which also approximate fair value. Each month, earnings from the LGIP are deposited. The State
Investment Pool was created by State statute, and is governed by the State Finance Committee and
administered by the State Treasurer.
i
Reconciliation of cash, cash equivalents, deposits and investments to Statement of Net Position:
Special Events Center PFD
Cash on hand and in bank $ 77
Total Cash and investments $ 77
The PFD follows the City of Kent's investment policy.
Interest Rate Risk. As a means of limiting its exposure to fair value losses arising from rising interest
rates, the City's investment policy limits, to the extent possible, the average life of the portfolio not exceed
five years. As of December 31, 2012, the weighted average of maturity for the portfolio was 38 days. The
LGIP is an unrated 2a-7 like pool, as defined by GASS Statement No. 31. Accordingly, participants'
Washington State Auditors Office
14
balances in the LGIP are not subject to interest rate risk, as the weighted average maturity of the portfolio
will not exceed 90 days. As of June 30, 2012, the LGIP had a weighted average maturity of 40 days.
Credit Risk. State statute, as well as City policy, requires at the time of purchase that an investment carry
a rating of one of the three highest credit ratings of a nationally recognized rating agency. As of December
31, 2012, the ratings for all fixed rate non-callable and callable agency securities were AAA. The LGIP is
an unrated 2a-7 like pool. Per GASB Statement No. 40 guidelines, the LGIP balances are not subject to
custodial credit risk. The credit risk of the LGIP is limited as most investments are either obligations of the
US government, government sponsored enterprises, or insured demand accounts and certificates of
deposit.
Concentration of Credit Risk. According to the City's investment policy, with the exception of US
Treasuries and the LGIP, no more than 25% of the City's total investment portfolio will be invested in
securities offered by a single issuer. In accordance with GASB Statement No. 40, the City will report any
investment in any one issuer that is 5% or more of the total City portfolio. As of December 31, 2012, the
City did not have any investments meeting that criterion.
Custodial Credit Risk. All bank deposits are covered 100% by federal depository insurance and pledged
collateral on deposit with the Washington State Public Deposit Protection Commission (WSPDPC).
4. RECEIVABLES
The PFD uses the modified accrual basis of accounting. In adopting this basis of accounting, the PFD
recognizes revenue by recording various receivables and accrued revenue in its financial statements. The
revenue recognition criteria by source is as follows:
a. TAXES RECEIVABLE
Sales and use taxes are collected by the state and remitted to the PFD on the last day of each
month. Sales tax revenue is accrued at year end per GASS Statement No. 33, "Accounting and
Financial Reporting for Nonexchange transactions." As of December 31, 2012, receivables
totaled $123,913.
5, LONG-TERM INDEBTEDNESS
Bonded Debt
In February 2008, the Public Facilities District (PFD) issued Special Events Center Sales Tax Bonds,
2008, of $53,150,000 and Special Events Center Revenue Bonds, 2008 (Taxable), of $10,130,000 to
finance a portion of the costs of developing the Events Center, capitalizing interest on the Bonds, and
paying costs of issuance for the Bonds.
As of December 31, 2012, the PFD had total net bonded debt outstanding of $60,518,787. Of this
amount, $52,768,787 or 87.2 percent comprises Sales Tax Bonds, which are secured by a pledge of
Sales Tax Revenues (consisting of proceeds of the PFD's sales and use taxes). The remainder of the
bonded debt ($7,750,000 or 12.8 percent) are payable from and secured by a pledge of PFD Revenues
received from the City under the terms of the Contingent Loan and Support Agreement. Under the
Contingent Loan and Support Agreement, the City has irrevocably pledged its full faith, credit and
resources for the making of City Contingent Loan Payments to the PFD as required in order for the PFD
to meet their debt service requirements on the bonds, if and to the extent that Sales Tax Revenue and/or
Special Events Center revenues are not sufficient for that purpose. The City does not anticipate
Washington State Auditor's Office
15
r.
repayment of the money provided to the PFD per the Contingent Loan and Support Agreement.
Y p P 9 Pp 9
Therefore, it is not recorded as an asset or liability in the books of the City or PFD. During 2012, the City
provided to the PFD, $3,064,025, for a grand total of$12,359,162 from 2009 through 2012.
Special Events Center Sales Tax Bonds, 2008, accrue interest at rates from 4.00% to 5.25% depending
on maturity dates ranging from December 1, 2020 through December 1, 2037. Interest is payable
semiannually on December 1 and June 1. Term Bonds of $9,290,000 are due December 1, 2028, at
4,75%, $16,885,000 of Term Bonds are due December 1, 2032, at 5.25%, and $9,180.000 Term Bonds
are due December 1, 2036, at 5.25%.
Special Events Center Revenue Bonds, 2008, accrue interest at rates from 3.159% to 5.754% depending
on maturity dates ranging from December 1, 2009 through December 1, 2020.
The City of Kent Special Events Center Public Facilities District (PFD) has outstanding long-term bonded
debt (net of unamortized amounts) of$60,518,787.
The following is a summary of long-term debt transactions of the Special Events Center Public Facilities
District for the year ended December 31, 2012:
Outstanding Debt Retired, Outstanding
Debt Extinguished Debt
1/1/12 &Amortized 12/31/12
Sales Tax Bonds $ 53,150,000 $ $ 53,150,000
Plus: Unamortized Premium 1,029,809 39,735 990,074
Less: Unamortized Deferred Costs (1,426,322) (55,035) (1,371,287)
Revenue Bonds 8,380,000 630,000 7,750,000
Total Long-term Debt Payable $ 61,133,487 $ 614,700 $ 60,518,787
The following is a summary of bonded debt issuance and redemption information as of December 31, 2012:
Issuance Maturity Interest Original Redemption Outstanding Due Within
Date Date Rate Amount to Date 12/31/12 One Year
Sales Tax Bonds 2008 2037 4-5.25% $ 53,150,000 $ $ 53,150,000 $
Plus: Unamortized Premium (990,074) 990,074
Less: Unamortized Deferred Costs 1,371,287 (1,371,287)
Revenue Bonds 2008 2020 3.16-5.75% 10,130,000 2,380,000 7,750,000 730,000
Total Bonded Debt $ 63,280,000 $ 2,761,213 $ 60,518,787 $ 730,000
Washington State Auditor's Office
16
The Special Events Center Public Facilities District's annual debt service requirements to maturity for
their sales tax and revenue bonds are as follows:
Special Events Center
Public Facilities District
Year Principal Interest Total
2013 $ 730,000 $ 3,082,428 $ 3,812,428
2014 745,000 3,051,060 3,796,060
2015 865,000 3,016,053 3,881,053
2016 980,000 2,973,244 3,953,244
2017 1,100,000 2,921,755 4,021,755
2018-2022 7,885,000 13,565,331 21,450,331
2023-2027 12,975,000 11,109,305 24,084,305
2028-2032 20,255,000 7,239,163 27,494,163
2033-2037 15,365000 2,438,813 17,803,813
Total $ 60.900 000 $ 49,397,152 $ 110,297,152
Arbitrage Compliance
All arbitrage compliance regulations as per Section 148(f) of the Internal Revenue Service regulations, as
amended, of the Internal Revenue Code for the PFD's tax-exempt bonds are current.
6. FUND EQUITYMET POSITION
Fund Balance
Fund balance presented in the governmental fund financial statements represent the difference between
assets and liabilities reported within the governmental fund. Fund balance is classified into the following
categories:
Nonspendable — items that cannot be spent due to form; inventories, prepaid amounts, long-term loan
receivables, or amounts that must be maintained intact legally.
Restricted — amounts constrained for specific purposes imposed by external parties. The PFD has
$123,990 restricted for debt service as of December 31, 2012.
Committed — amounts constrained by the City Council, either through formal budget adoption, contract
approvals or for other purposes formally approved by the Council.
Assigned — all amounts remaining in governmental funds, other than the general fund, not classified as
nonspendable, restricted or committed. Amounts reported as assigned also include year-end
encumbrances that have received approval from the city council and re-appropriated in the following
year's carry forward budget.
Unassigned —any remaining fund balance in the general fund not classified as nonspendable, restricted,
committed or assigned.
The PFD considers restricted amounts to have been spent first when expenditures are incurred for
purposes for which both restricted and unrestricted fund balances are available. When expenditures of
Washington State Auditor's Office
17
E
Notes to the Financial Statements
Special Events Center Public Facilities District December 31, 2012.
unrestricted fund balance are incurred, the PFD considers committed amounts spent first, then assigned
amounts and lastly, unassigned amounts.
Net Position
Although the PFD's governmental funds reflected a positive fund balance of $123,990 at December 31,
2012 (restricted for debt service), when adjusted to the district-wide financials presented in accordance
with GASB Statement No. 34. the total liabilities exceed the total assets of the PFD resulting in a deficit
net position. Per the interlocal agreement with the City of Kent, the PFD was created to finance the
construction of the event center and make the debt service payments on the bonds sold to finance that
construction. The capital assets, once constructed by the PDF, were turned over to the City, but the PDF
retains the long-term debt. Because of this, the PFD's financials will reflect a deficit net position through
the life of the bonds, December 2037.
I
Washington State Auditor's Office
18
ABOUT THE STATE AUDITOR'S OFFICE
The State Auditor's Office is established in the state's constitution and is part of the executive
branch of state government. The State Auditor is elected by the citizens of Washington and
serves four-year terms.
Our mission is to work with our audit clients and citizens as an advocate for government
accountability. As an elected agency, the State Auditor's Office has the independence
necessary to objectively perform audits and investigations. Our audits are designed to comply
with professional standards as well as to satisfy the requirements of federal, state, and local
laws.
The State Auditor's Office employees are located around the state to deliver services effectively
and efficiently.
Our audits look at financial information and compliance with state, federal and local laws on the
part of all local governments, including schools, and all state agencies, including institutions of
higher education. In addition, we conduct performance audits of state agencies and local
governments and fraud, whistleblower and citizen hotline investigations.
The results of our work are widely distributed through a variety of reports, which are available
on our Web site and through our free, electronic subscription service.
We take our role as partners in accountability seriously. We provide training and technical
assistance to governments and have an extensive quality assurance program.
State Auditor Troy Kelley
Chief of Staff Doug Cochran
Director of Performance and State Audit Chuck Pfeil, CPA
Director of Local Audit Kelly Collins, CPA
Deputy Director of State and Local Audit Jan M. Jutte, CPA, CGFM
Deputy Director of State and Local Audit Sadie Armijo
Deputy Director of Quality Assurance Barb Hinton
Deputy Director of Communications Thomas Shapley
Local Government Liaison Mike Murphy
Public Records Officer Mary Leider
Main number (360) 902-0370
Toll-free Citizen Hotline (866) 902-3900
Website www.sao.wa.gov
Subscription Service www.sao.wa.gov/EN/News/Subscriptions
Thunderbird Community Sports Foundation
FUNDS AWARDED SINCE JANUARY 2009
$ 251,951e29
$42,700.00-School Districts for Athletic Participation Fees (Kent, Federal Way,Tahoma,Auburn)
$40,139.68—School Districts for Sports Equipment&Programs(Kent,Tahoma, Orting,West Seattle)
$ 38,248.90—Youth Hockey(Kent,Tacoma,SnoKing,Team Seattle,Girls Hockey(WWFH), Everett)
$ 36,789.16—Service Clubs and Other Foundations
$ 16,796.55—Adaptive Sports Programs(Seattle,Auburn, Kent)
$ 12,500.00—Parks and Recreation (City of Kent, City of Covington)
$ 10,356.00—Track and Running Clubs(Kent,Tahoma,Auburn)
$ 8,800.00—Basketball (Seattle, Lacie,Shoreline)
$ 8,075.00—Academic Scholarships for Students pursuing studies in a sports related field
$ 8,000.00—Football (Kent)
$ 7,100.00—Boxing(Kent)
$ 6,552.00—American Cancer Society—Thunderbird Kent Relay for Life fundraising&sponsorship
$ 5,000.00—Children's Therapy Center—Sports Equipment
$ 3,794.00—Gymnastics (Kent)
$ 3,000.00—Golf(Kent)
$ 2,100.00—Baseball (Kent,Auburn)
$ 2,000.00—Cheerleading programs (Kent)
Are You Ready For 2-for-Tuesday on October 29? Page 1 of 7
� I
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NEWSLEWER
BUY TICKETS r "'
E X
10-26 vs. Vancouver r
10-29 vs. Brandon � , t �r ■
11-1 vs. Portland a
Puget Sound Energy
Night is October 26
Puget Sound Energy is teaming up with the T-Birds
for energy efficiency night! Came out to see the
T-Birds play Vancouver on Saturday, October 26 at
7:05pm.
PSE will be there with information on all the
excellent and efficient products they have to offer.
d
There will also be an energy-efficient product
giveaway and one lucky fan will even get to compete
on the ice for a prize package from PSE! Bring the
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' Four T-Birds and Cool Bird filmed a commercial for
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i
1Ct�CKNEBE Get Tickets For PSE Night
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Are You Ready For 2-for-Tuesday on October 29? Page 2 of 7
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e
BUY B TICKETS FOR THE PRICE OF ONE!
s'
Directors Mortgage
' 2-for-Tuesday Oct. 29
j t The first Directors Mortgage 2-for-Tuesday of the
season is Tuesday, October 29, when the T-Birds
take on the Brandon Wheat Kings at 7:05pm.
�1�f�K f� �� ■ • Group tickets - purchase 20 group tickets
and receive the customary $6 discount off of
the walk up price PLUS the 2 for 1 deal. This
means that you can get 40 tickets for$9 a
piece!
• Suites -All suites are half price during
Tuesday home games
12 seats - $360
• 15 seats - $450
18 seats -$540
Tyfs _ - - 20 seats - $600
-- • Ice Box-$750 (half price)for 50 tickets
1 9 AM located in the first 3 rows of section 107. Call
- - a Thunderbirds account rep for available
dates
• Single Game tickets -2 for 1 on all price
levels!
• Concession Specials - $2 hotdogs, popcorn,
soda and beer.
Get Single Game Tickets To 2-For-Tuesday NoFLMR� JI:-7111�
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PRESENTED BY P
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View our videos on Ft]Y � � �� 0 GOURMET GRILLS
Seattle Thunderbirds Second Fling-A-Fish
625 West James Night is November 1
Kent, Washington 98032
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Are You Ready For 2-for-Tuesday on October 29? Page 3 of 7
stbirds@seattlethuiiderbirds.com Fling-A-Fish returns for the second time this
253-239-7825 season on Friday. November 1, when we take on
the Portland Winterhawks. The fan that lands their
fish closest to the target at center ice during the
second intermission will win:
• A Napoleon Fireplaces and Grills prize pack
• A T-Birds game-worn jersey
• Entrance into an on-ice competition to win a
premium Napoleon Grill worth $1,400! The
on-ice competition will take place March 14 at
ShoWare Center.
Fling-A-Fish takes place at all Portland games and
they can be purchased at any Chuck-A-Puck table in
ShoWare Center. The Napoleon Grill one lucky fan
will win will be on display at the ShoWare Center at
all Portland games as well.
Check out our Fling-A-Fish Video
Get Tickets For Fling-A-Fish Night Now
� . . r
��`F4STER KIDS CAAT3;
; DRIVE NIGHTa
sleepc
T-Birds Team With
Sleep Country For
Coat Drive
The Thunderbirds and Sleep Country are working
together to help foster kids in need.
On Friday, November 1, the T-Birds will be
collecting new winter coats before their game
against the Portland Winterhawks at 7:35pm.
Make sure to bring a coat(or two)to help out the
community and be entered to win an autographed
hockey stick and a Tempur-Pedic pillow!
Get Tickets For Sleep Country Coat Drive Night
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Are You Ready For 2-for-Tuesday on October 29? Page 4 of 7
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Are You Ready
For Pub Night?!
The T-Birds first Pub Night of the 2013-14 season is
Friday, November 8, when the T-Birds take on the
Victoria Royals at ShoWare Center.
For$200 you can get 10 tickets to the game, 10
beers to drink at the game and 10 T-Birds hats to
wear at the game. Gather up some friends and
come out for Pub Night at the T-Birds game.
Purchase a Pub Night Ticket Package online or
contact the T-Birds at 253-239-PUCK(7825).
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Club Lounge Menu
For Next Two Games
There are several Club Ticket specials the T-Birds
will continue in the 2013-14 season. Fans that
purchase a Club Ticket have the option of
purchasing an all-you-can-eat buffet that includes
soda and water for$16 per person.
Club Lounge Menu Saturday vs.Vancouver
Club Lounge Menu Tuesday vs. Brandon
Club Ticket holders also can take advantage of the
2-for-1 drink specials at the Club Lounge bar. Fans
can get bottled beer, domestic draft beer, wine and
well cocktails at 2-for-1 prices for the first 30 minutes
after the doors open.
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Are You Ready For 2-for-Tuesday on October 29? Page 5 of 7
Get Your Group Out To
A T-Birds Game
There are several ways to enjoy a T-Birds game as
a group at discounted prices. Ticket discounts range
from $2 to $10 off the walk up price. We have group
options for as low as 10 tickets. Group seating is
available in Club Seats, Suites, North Zone seats
and Premium seats.
Check out all our great group options
Contact the T-Birds at 253-239-PUCK (7825) to
book your group today.
MOBILE
APP
Mobile App Updated
for 2013-14 Season
The Official Seattle Thunderbirds iPhone, Android
and Blackberry Applications have been updated for
the 2013-14 season. The Apps, which are a FREE
download, include a new user-control panel for
different types of game notifications the user can
select to receive. Fans can also read the Game Day
Digital Program at games by selecting the "Digital
Program"tab.
Fans can download the application for their
respective device using the QR codes on the
T-Birds website. Fans can also search
"Thunderbirds" in the App Store, Android
Marketplace and Blackberry App World to find the
T-Birds new app.
http://canipaign.r2O.constanteontact.com/render?llr=t45mfwn6&v=001 Qll-Xe3DdxF... 10/24/2013
Are You Ready For 2-for-Tuesday on October 29? Page 6 of 7
I
The updated app is a great way to stay connected to
your favorite team from the drop of the first puck to
the final horn.
W
Game Day Digital
Program Back for
2013-14 Season
The FREE downloadable Official Game Day Digital
Program is returning for 2013-14 season. The
Thunderbird's Official Game Day Digital Program is
the go-to place for established fans looking for the
latest T-Birds news and the casual fan who just
wants to know who's who.
Fans can download the Program on their mobile
devices or home computer. The Program will be
available for viewing by 2pm on home game days.
Pages in the Program will be clickable. Clickable
pages will include player questionnaire pages and
team partner pages. This means users will be able
to navigate to the T-Birds website to find out more
about a specific player or statistic as well as to a
team partner website to find out how they are a
partner of the team.
SEATTLE _ - .
1111111
Thunderbirds: The
Week Ahead
The third season of Thunderbirds: The Week Ahead
is being published weekly. Each week,
Thunderbirds: The Week Ahead will breakdown
upcoming Thunderbird opponents and provide some
keys to watch for. News, notes, and trivia will also
be included each week. This week, we break down
the upcoming road game against Vancouver, home
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THE NATIONAL ANTHEM
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Contact any choir member for details
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TICKETS BEERS HATS
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VictoriaUpcoming Pub Nights
•
CENTER
Jan. 17 vs. Tri-City
Portland
seattlethunderbirds.com
Call T-Bird's Account Executive Ross Aanenson
today!253-856-6837 and reserve your group
CENTER I '
CAGE WARRIOR LAMB OF GOD
COMBAT MMA W/ KILLSWITCH
ENGAGE
Nov 2 17pm
Fan1A �a Nov 11 17pm
a $37 - $102 ' • V + $28.50 $33
ON SALE NOW! 1 , . ON SALE NOW
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SEATTLE T-BIRDS SEATTLE T-BIRDS DISNEY ON ICE
/ vs. Portland �_ vs. Victoria °� ,, r ROCKIW EVER
S�AT9L� Nov 1 7:30pm � AFTER
..- �����T�E Nov81 7:30pm
. a Nov 13-18 Times Vary
ON SALE NOW! ON SALE NOW! I
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PRETTY LIGHTS PACIFIC CUP: 1964 BEATLES
Nov 22 1 7pm SEATTLE MIST VS. TRIBUTE
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Dec 6 18pm ON SALE NOW!
ON SALE NOW!
FLORIDA `,$ I g GORILLA GAMES DISNEY LIVE!
GEORGIA LINE Dec 15 I Sam %" Pirate & Princess
Dec 14 1 7:30pm Register online at "' 'Adventure
SOLD OUT! ® Godl!oGamesThro owncom ,Jan 18 1 1 &4pm
$85 per athlete ON SALE NOW!
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"
GLOBETROTTERS
°"""" ShoWare Center � � „ ,on Twitter
ARLEFeb 1s12&7pm onFacebook C>ShoWareCenter
ON SALE NOW!
O •
Tickets can be purchased at the ShoWare Center Box Office,ShoWareCenter.com,or by calling 866.973.9613.
Box Office Hours: • 1. • Box Office opens two hours before events
Ticket • • - to convenience fees. Forr • • Sales &Suites Rentals,