HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 04/28/2011 (3) AGENDA
CITY OF KENT SPECIAL EVENTS CENTER PUBLIC FACILITIES DISTRICT
MEETING
Thursday, April 28, 2011, 3:30 p.m.
ShoWare Center, 625 West James Street
Suite Lounge Room
2010 Board members: Mike Miller, Chair; Greg Haffner, Vice-Chair; Lew
Seller, Secretary; Bob Nachlinger, Treasurer
I. Call to Order
a. Introductions—All
b. Approval of Minutes of the January 27, 2011 Meeting - Motion.
II. Finance Report - Bob Nachlinger, Patrick McCluskey, Tim Higgins
a. Review of State Sales Tax Revenues
b. ShoWare Center Income Statement update for 2011
III. Operator Update - Tim Higgins, Beth Sylves
a. Status of Event Bookings/Attendance
b. Marketing update
IV. Seattle Thunderbirds Update - Colin Campbell
a. Thunderbird Sales, Marketing & Attendance Update Report and Season End Report
b. Advertising &Suite Sales Update
V. Adjourn
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KENT SPECIAL EVENTS CENTER
PUBLIC FACILITIES DISTRICT FUND (PFD)
Preliminary as of
March 31, 2011
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Revenue & Debt Svc Fund
2010 2011 2011 2011
Actual Budget YTD Est Actual
Beginning Fund Balance 109,762 210,266 109,778 109,778
REVENUES
Investment FMV Inc/Dec
Sales &Use Tax 614,008 850,000 - 160,559 642,000
Intergovernmental 3,129,437 2,894,440 3,101,865
Interest - Sales Tax 1,012 - 143 575
TOTAL REVENUES 3,744,457 3,744,440 160,702 3,744,440
Transfers In-Bond Proceeds
TOTAL RESOURCES 3,854,219 3,954,706 270,480 3,854,218
EXPENDITURES
Services and Charges
Debt Service 3,744,441 3,744,440 3,744,440 j
TOTAL EXPENDITURES 3,744,441 3,744,440 - 3,744,440
CHANGE IN FUND BALANCE 16 - 160,702 -
ENDING FUND BALANCE 1091778 210,266 270,480 109,778
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4/28/2011
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Kent Special Events Center Public Facilities District (PFD)
Sales Tax Revenues
Preliminary as of March 31, 2011
Year Month Received Sales Tax Revenue
2008 March 68,928.08
April 64„340.03
May 77,107.07
June 72,061.77
July 73,138.12
August 82,904.41
September 61,870.79
October 57,569.76
November 63,238.50
December 55,649.74
2009 January 48,144.96
February 61,890.26
March 43,938.87
April 40,442.93
May 47,073.92
June 44,944.15
July 45,221.78
August 50,355.97
September 47,063.45
October 46,071.06
November 60,040.81
December 46,106.71
2010 January 41,577.34
February 63,459.30
March 43,066.80
April 44,888.03
May 55,381.54
June 47,699.19
July 47,255.93
August 54,575.49
September 52,789.08
October 51,167.58
November 59,765.33
December 52,382.66
2011 January 49,791.39
February 63,372.68
March 47,395.15
2,032,670.63
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* Revenues for January and February were accrued back to 2010. Reversal
of accrual will occur in the final December 2011 closing.
4/28/2011
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Kent Events Center Operating Fund
March 31, 2011
2010 2011 2011 2011
YTD Budget YTD Est Actual
BEGINNING FUND BALANCE (1,025,923) (1,627,111) (1,627,111) (1,627,111)
REVENUES
Lodging Tax Transfer
Admissions Tax 199,199 500,000 200,000
SMG Income 200,000
PSE Grant- LEED 42,376
Total Revenues 241,575 700,000 200,000
TOTAL RESOURCES (784,348) (927,111) (1,627,111) (1,427,111)
EXPENDITURES
Salaries & Benefits
Supplies
Services 842,763 700,000 227,458 800,000
TOTAL EXPENDITURES 842,763 700,000 227,458 800,000
Change In Fund Balance (601,188) (227,458) (600,000)
ENDING FUND BALANCE (1,627,111) (1,627,111) (1,854,569) _ (2,227,111)
Sho are 1 `enter/SMG
Income Statement
As of March 31,2011
January .January February Febnwy March March TotalYl'ID TotalYTID.:
Actual Budget Actual Budget Actual Budget Actual Budget
Direct Event Income
Rental Income S 64,782 S 62,965 $133,535 S 98,485 $ 61,579 $ 80,860 S 259,896 S 242,310
Service Revenue 17,599 17,212 16,421 16,039 12,388 20,747 46409 53,998
Service Expenses (77,941) (89,099) (117,719) (90,285) (80,317) (100,267) (275;976) (279,65))
Total Direct Event Income 4,440 (8,922) 32,238 24,239 (6,350) 1,340 30,328 16,657
Ancillary Income
F&B Concessions 64,742 69,677 91,082 74,597 62,395 87,941 218,219 232,215
F&B Catering 13,494 15277 16,484 10,794 11,952 t5,595 41,930 41,656
Novelty Sales 0 0 11,284 9,670 5,832 1,830 17,116 -. 11,500.
Total Ancillary Income 78,236 84,954 118,850 95,051 80,079 105,366 277,165 295,371
Other Event Income
Luxury Box Ticket Sales 9,686 2,839 12,525 0.
Ticket Rebates 5,517 4,800 27,009 16,500 11,189 2,000 43,715 23,300
Facility Fees 23,394 23,488 45,691 35,252 23,509 27,352 92,594 86,092
Total Other Event Income 28,911 29,288 82,386 51,752 37,537 29,352 149,834 109,392
Total Event Income 111,587 104,320 233,474 171,042 111,266 136,058 456,327 411420
Other Operating Income 79,017 79,097 75,987 76,860 73,958 74,632 227„962 230,579
Adjusted Gross Income 189,604 193,407 309,461 247,902 195,224 210,690 694,289 641,999
INDIRECT EXPENSES
Salaries&Wages 124,289 126,313 146,186 124,063 120,318 133,784 390,793 384,160
Payroll Taxes&Benefits 28,069 21,165 32,023 21,165 22,171 21,165 32,263 63,495
Labor Allocations to Events (56,515) (57,607) (74,398) (56,344) (45,225) (65,825) (176,139) (1.79,776)
Net Salaries and Benefits 95,943 89,871 103,811 88,884 97,264 99,124 296,919 267,979
Contracted Services 10,778 11,811 13,198 11,811 10,246 13,811 34,222 37,433
General and Administrative 14,572 14,340 26,243 19,740 37,129 40,640 77,944 74,720
Operating 7,441 4,509 12,823 10,709 5,523 6,509 25,787 21,727
Repairs&Maintenance 8,030 4,541 2,760 4,541 3,001 4,541 13,791 13,623
Operational Supplies 3,952 3,167 5,222 3,167 4,362 3,167 13,536 9,501
Insurance 5,230 5,230 5,230 5,230 5,230 5,230 15,690 15,690
Utilities 51,211 43,333 41,640 41,333 39,296 35,833 132147 120,499
SMG Management Fees 20,669 20,784 20,669 20,794 21,187 20,784 62,525 62,352
Total Indirect Expenses 217,726 197,596 231,596 206,199 223,238 219,639 672,560 623,424
Net Income(Loss) $ (28,122) $ (14,179) S 77,865 S 41,703 $ (38,014) $ (8,949) S IJ;n9 S !18,575 .
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KENT
Marketing Update Through April 28,2011
® Total Attendance-802,864
• Total l9Lvmber of unique session visits to www.ShoWareCenter.com-726,590
0 2009 monthly average-19,373
0 2010 monthly average-28,463
0 2011 monthly average-38,137
• Total Number of page views-11,580,812 (15.9 pages per visit)
Upcoming Ticketed Events
May 6 Seattle Timberwolves vs Omaha Beef,7PM
May 14 Ladies Might Out,Voli.3 featuring Jagged Edge, Oru Hill, Oonell Jones, Avant,Jay Lamont,Tone Loc
May 21 World Famous Upizzaner Stallions, 2PM &7:30 PM
May 22 World Famous Uptzzaner Stallions,2PM
May 26 Marvin Sapp Concert,hosted by B€T's Ralph Porter,7PM
May 27 Seattle Timberwolves vs Wenatchee Valley Venom, 7PM
June 3 1 Am Legend Concert w/Rick Ross,Slick Rick, Rob Base& Mann,7:30PM
June 7 Get Motivated Seminar,satellite location, 8AM
June 12 Seattle Timberwolves vs Tri-Cities 7PM
June 24 MMA(to be announced May 2)
June 30 A Perfect Circle in concert,8PM
July 23 AM 1090 Town Halt Forum,6pm
July 30-31 ShoWare Shootout 3-on-3 Basketball Tournament
August 15-19 Coaches' Hockey School
Sept 1-5 Ringling Bros, Barnum& Bailey Circus
Upcoming Community Events
Jame 4 University of Phoenix Graduation, 1PM
June 9 IHighline Community College Graduation, 3PM
June 10 Green Sliver Community College Graduation,7PM
June 11 Kent Schools Graduations
June 12 Central Washington University Graduation, 1PM
.Dune 14 Renton Schools Graduations
Jayne 18/20 lHighline Schools Graduations
Upcoming Banquet Events
April 29 USA Volleyball Puget Sound Region Awards Banquet
April 30 Kent Chamber of Commerce President's Gala
May 6 Kent Downtown Partnerships Downtown Breakfast Hour
May 7 Escapades 2011, Kent Rotary Charity Auction
May 20 Pediatric interim Care Center's 20th Anniversary Luncheon
Upcoming Trade Shows
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July 8 Sysco Food Show
Dully 16-17 Down lender Horsemanship,9a-5p
Recently Hosted Ticketed Events Qerrciuding hockey)
• Friday,January 28—3`'Annuai Les Schwab 'Friday,.February 25—Kent Predators vs Sioux Fails
Shootout in Kent Baskzetbatl Invitational Friday„March 4—Total Nonstop Action
• Thursday, February 10—Ladies' Night Out Concert Professional Wrestling
• Friday, February 11—South Puget Sound Sunday, March 6—Kent Predators vs Fairbanks
Basketball Playoffs o Friday,March 18— Fantasia in concert
® Thursday, February 17—Harlem Globetrotters Friday, April 1—Kent Predators vs Fairbanks
a Monday, February 21—West Central District Saturday, April!16—Seattle Tlmberwolves vs
Basketball Playoffs Wenatchee Walley
• Thursday, February, 24—HiRsong United in Concert + Saturday,Aprii 23—Charlie Wilson in concert
PSOLD OUV)
Recent Community'Events
• Kent Chamber's State of the City Address luncheon—February 2
• Kent School District's Technology Expo—February 3
• Kent Downtown Partnership's Downtown Breakfast Hour—February 11
• you Me We FREE Family Fun Festival—February 18
a ShoWWalk Community walking—each Monday through April 25
Notable Happenings
m TNA Wrestling athtetes LIVE on(KING 5 Morning News, March 4
• Joining the Green Sports Affiance as a "founding member"—press reiease to be sent next week.
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ShoWare
�d i Group Suites
May 2
S'y!. 011 { Discount S Available
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May 6 Kent Downtown Partnership's Downtown Breakfast Hour, 7AM,
visit KentDowntown.org to RSVP
E May 6 Seattle Timberwolves vs Omaha Beef, 7PM
($14.50 - $42) G S
May 7 Escapades 2011, Kent Rotary Charity Auction, 5:30PM, visit
KentRotary.com for details
May 14 Ladies Night Out, Vol. 3 featuring Jagged Edge, Dru Hill,
Donell Jones, Avant, Jay Lamont, Tone Loc & Rocky Sandoval
7PM ($32-$60) Suites SOLD OUT
{ May 20 Pediatric Interim Care Center's 20th Anniversary Luncheon,
11:30 AM, to register, visit PICC.Net
May 21 World Famous Lipizzaner Stallions, 2PM & 7:30 PM ($24.50 -
$34.50) Seniors 60+ and children under 12 are half price!
(Excludes Gold Circle seating.) Children 2 and under are free
on a parent/guardian's lap. G S
May 22 World Famous Lipizzaner Stallions, 2PM
($24.50 - $34.50) G S
S■ ® rQ May 26 Marvin Sapp gospel music, andemin stry.Hosted
by BET's Ralph 7PM, $30, $27..50 o$rt2e5.GEnSToy comedy,
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May 27 Seattle Timberwolves vs Wenatchee Valley Venom, 7PM
($14.50 - $42) G S
June 2011
June 3 I Am Legend Concert w/Rick Ross, Slick Rick, Rob Base &
, s Mann, 7:30PM ($19-$75) S
June 4 University of Phoenix Graduation, 1PM
June 7 Get Motivated Seminar, satellite location. 8AM,
www.GetMotivated.com to register.
June 9 Highline Community College Graduation, 3PM
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June 10 Green River Community College Graduation, 7PM
June 11 Kent Schools Graduations
June 12 Central Washington University Graduation, 1PM
i June 12 Seattle Timberwolves vs Tri-Cities 7PM ($14.50 - $42) G S
June 14 Renton Schools Graduations
June 18/20 Highline Schools Graduations
June 30 A Perfect Circle in concert, 8PM ($38.50- $45)
k � Get in the loop and stay connected! M
ShoWare Center on Facebook &Twitter
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Visit us online -ShoWareCenter.com
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