HomeMy WebLinkAboutCity Council Committees - Public Facilities Distict Board - 04/29/2009 AGENDA
CITY OF KENT SPECIAL EVENTS CENTER PUBLIC FACILITIES DISTRICT
MEETING
Thursday, April 29, 2009, 3:30 p.m.
ShoWare Center, 625 West James Street
Suite Lounge Room
I. Call to Order
a. Introductions—All
b. Approval of Minutes of the January 28, 2009 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 2010
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 Update
b. Advertising & Suite Sales Update
V. Resolution - 2010 Meeting Dates
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Adjourn
KENT SPECIAL EVENTS CENTER
PUBLIC FACILITIES DISTRICT FUND (PFD)
March 31, 2010
Revenue & Debt Svc Fund '...
2009 2010 2010 2010 j
Actual Budget YTD Est Actual
Beginning Fund Balance 166,327 109,762 109,762 109,762
REVENUES
Investment FMV Inc/Dec (17)
Sales & Use Tax 580,826 850,000 148,103 662,142
Intergovernmental 3,072,614 2,894,440 2,971,440
Interest - Sales Tax 1,279 272 1,432
TOTAL REVENUES 3,654,702 3,744,440 - 148,375 3,635,014
Transfers In-Bond Proceeds 6,306
TOTAL RESOURCES 3,827,335 _ 3,854,202 258,137 3,744,776
EXPENDITURES
Services and Charges 758
Debt Service . 3,716,815 3,744,440 3,744,440
TOTAL EXPENDITURES 3,717,573 3,744,440 - 3,744,440
CHANGE IN FUND BALANCE (56,565) - 148,375 (109,426)
ENDING FUND BALANCE 109,762 109,762 258,137 . 336
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4/28/2010. -
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Kent Events Center Operating Fund
As of March 31, 2010
2009 2010 2010 2010
Actual Budget YTD Est Actual
BEGINNING FUND BALANCE (700,287) (1,025,923) (1,026,923) (1,025,923)
REVENUES
Lodging Tax Transfer 31,000
Admissions Tax 259,156 600,000 500,000
SMG Income 200,000 200,000
Total Revenues 290,156 700,000 700,000
TOTAL RESOURCES (410,131) (326,923) (1,025,923) (326,923)
EXPENDITURES
Salaries & Benefits 69,783 40 40
f (Supplies 236
I Services 545,773 700,000 289,320 700,000
TOTAL EXPENDITURES 615,792 700,000 289,360 700,040
Change In Fund Balance (325,636) (289,360) (40)
ENDING FUND BALANCE (1,026,923) (1,025,923) (1,315,283) (1,025,963)
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Kent Special Events Center Public Facilities District (PFD)
Sales Tax Revenues
As of March 31, 2010
Year Month Sales Tax Revenue
Received
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 47,073.9.2
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
1,406,206.58
* Revenues for January Y and February were accrued back to 2009. Reversal
of accrual occured in the December 2010 closing.
4/28/2010
ShoWare Center/SMG
Income Statement
For the Year Ending December 31,2010
January January February February March March Total YTD Total YTD
Actual Budget Actual Budget Actual Budget AetaAI .Budget
Direct Event Income
Rental Income $ 80,068 $ 94,944 $ 109,893 $ 100,164 $ 44,492 $ 60,781 $234;453' $255;889
Service Revenue 11,188 9,690 11,599 11,991 6,920 8,660 .: 29707 : 301341
Service Expenses (85,920) (77,429) (124,518) (73,885) (42,618) (53,520) . (253,056)�', (204,834)
Total Direct Event Income 5,336 27,204 (3,025) 38,271 8,794 15,922 11,164 ; 81,,50
Ancillary Income
P&B Concessions 63,973 105,994 69,996 118,649 35,895 87,791 IOX4 :312,434
F&BCatering 13,158 18,557 14,703 21,038 8,237 13,695 ( '36;098 . ':':53,290
Novelty Sales 953 0 9,060 8,267 407 2,400 9;420, .:;10;667
Total Ancillary Income 78,084 124,550 92,759 147,955 44,539 103,886 215,382 376;391
Other Event Income '..
Luxury Box Ticket Sales 2,606 4,000 144 2,000 624 1,000 3 374 71000
Ticket Rebates 11,227 14,200 13,992 14,200 157 8,000 25,377 36,460
Facility Pees 24,632 34,980 27,508 39,914 11,489 25,062 63,628' `99,957
Total Other Event.Income 39,465 53,180 41,643 56;114 12,270 34,062 92,379 : : 143,357
Total I'svent Income 121,886 204,935 131,377 242,340 65,603 153,869 318 865: 601,145
Other Operating Income 82,274 80,117 84,845 80,117 65,885 72,898 233;005 .233,132
Adjusted Gross Income 204,160 285,052 216,222 322,457 131,483 226,767 551 870': 834,276
INDIRECT EXPENSES
Salaries&Wages 131,883 121,692 123,364 122,385 102,183 108,718 ' 357,430`- 352,105
Payroll'Faxcs &Benefits 22,279 22,932 23,112 22,932 21,341 22,932 6G 732� 68,796
Labor Allocations to Bvents (51,753) (54,899) (60,215) (55,669) (28,613) (40,481) (151;049)
Net Salaries and Benefits 102,409 89,725 86,261 89,648 94,911 91,169 283,58I 270;542
Contracted Services 12,600 14,682 11,403 14,682 13,667 14,682 37,67.0 44,046
Gcncral and Administrative 15,517 16,724 22,547 15,724 36,693 15,724 74,757 ., E 48,112
Operating 4,526 4,830 5,510 4,830 5,583 4,830 15,619. :.14,490
Repairs&Maintenance 2,694 7,143 7,986 7,143 3,307 7,143 1- 987 211429
Operational Supplies 5,549 5,350 1,617 5,350 3,162 5,350 > 10328 : 16;050
Insurance 6,428 6,428 6,428 6,428 6,428 6,428 : 19;2$4 19;284.
Utilities 41,424 43,625 42,047 43,625 35,974 40,625 A19,445 �:..:127;875
SMG Management Fees 20,367 20,367 20,367 20,367 20,367 20,367 61,101 ' .61.;101
Total Indirect Expenses 211,514 208,874 204,166 207,797 220,092 206,318 635,772 622989
Net Income(Loss) . $ (7,354) $ 76,178 $ 12,056 .$ 114,660 $ (88,604) $ 20,450 $ (0,502) $211:287
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M H 2010 Group � Suites
Discount Available
May 1 Guthrie Family Rides Again Tour featuring Arlo Guthrie,
8pm ($27 - $40):1 May 7 Wine, Women, WOW!
Benefiting Kent Downtown Partnership &
i Washington Women's Employment& Education, 6pm ($26 - $31)
May 14 Kent Predators vs. Fairbanks, 7:30pm ($15 - $40) G S
May 15 Douglass Youth Golf Annual Auction, 6pm
May 21 Pediatric Interim Care Center Luncheon, 11:30am �
May 22 Rotary Club of Kent Escapades Dinner & Auction, 5pm
May 29 Kent Predators vs Billings, 7 30pm ($15 $40) G S
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JUNE 2010
-" June 4 Kent Predators vs. Tri-Cities, 7:30pm ($15 - $40) G S
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ShoWar
a Graduation Ceremonies
Er June 5 University of Phoenix (Ipm)
June 10 Highline Community College (3pm)
�i June 11 Green River Community College (7pm) d
sr "� x ` June 12 Kent School District High Schools (All Day)
y � Va ? June 13 Central Washington University (1:30pm)
June 15 Renton School District High Schools (All Day)June 18
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COMING SOON
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Backstreet Seattle Mist 2010®2011
Boys Home Opener Season:
` August 5 August 27 Begins Sept. 25
Get in the loop and stay connected.
R ShoWare Center uses Facebook & Twitter "
ShoWare Center office Phone- (253) 856-6777
�j 625 West lames Street Tickets - (253) 856-6999
Kent,WA 98032 Event Hotline - (253) 856 6990
Visit us online - ShoWareCenter.eom
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ShoWare
Marketing Update Through April 29, 2010
• Total Attendance-442,116
• Total Number of unique session visits to www.ShoWareCenter.com—434,489
• Total Number of page views—6,062,577 (14 pages per visit)
Consumer Feedback Survey(since Dec'09)
• Nearly 34% response rate (really good 1)
• Very Satisfied/Satisfied with event `87.4%
• Likely or somewhat likely to recommend ShoWare Center to a friend—91.9%
Upcoming Ticketed Events (excluding hockey)
• Kent Predators vs Billings, April 30
• Arlo Guthrie, May 1 ..
• Wine, Women WOW, May 7
• Kent Predators vs Fairbanks, May 14
• Kent Predators vs Billings, May 29
• Kent Predators vs Tri-Cities,June 4
• Backstreet Boys,August 5 (on sale Friday,April 30 at 10am)
• Seattle Mist vs Los Angeles, August 27
• Seattle Mist vs Chicago, October 8
Upcoming Banquet Events
• St Anthony's Banquet, May 8
• Douglass Youth Golf Club, May 15
• Pediatric Interim Care Center Luncheon, May 21
• Kent Rotary Auction, May22
Upcoming Community Events
• University of Phoenix,June 5
• Highline Community College, June 10
• Green River Community College,June 11
• Kent School District High Schools,June 12
• Central Washington University,June 13
• Renton School District High Schools,June 15
• Mount Rainier High School,June 18
• Insight Schools of Washington,June 19
• ShoWare Shootout 3-on-3 Tournament, Aug 7-8
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