HomeMy WebLinkAboutCity Council Committees - Public Facilities District Board - 10/29/2009 AGENDA
CITY OF KENT SPECIAL EVENTS CENTER PUBLIC FACILITIES DISTRICT
MEETING
Thursday, October 28, 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 April 29, 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 - 2011 Meeting Dates
Adjourn
,ShoWare
MQIKENT
Marketing Update Through October 28,2010
• Total Attendance—566,748
• Total Number of unique session visits to www.ShoWareCenter.com—579,663
• Total Number of page views—7,846,946 (13.5 pages per visit)
Consumer Feedback Survey(since May'10)
• Very Satisfied/Satisfied with event—92% (compared to 87.4% Dec'09-Apr'10)
• Likely or somewhat likely to recommend ShoWare Center to a friend—85.2%(91.9% Dec'09-Apr'10)
Upcoming Ticketed Events(excluding hockey)
• Wednesday, November 3—Stone Temple Pilots concert, 7:30pm
• Wednesday, November 10—Disney On Ice, 7:30pm
• Thursday, November 11—Disney On Ice, 7:30pm
• Friday, November 12—Disney On Ice,7:30pm
• Saturday, November 13—Disney On Ice, 11:30a,3:30p, 7:30pm
• Sunday, November 14— Disney On Ice, 11:30a, 3:30p,7:30pm
• Saturday, December 4— Motorcycle ICE Racing,7:30pm
• Friday, December 10—The Ladies Night Out Concert, 7:30pm
• Sunday, December 19—Michael W Smith concert, 6pm
• Wednesday, December 22—South Sound Challenge Basketball,9:30am (four high school,three college
basketball games)
• Monday,January 17—ShoWare Shootout presented by Comcast, 10:00am (seven high school games)
• Saturday,January 22—Disney Live! Mickey's Magic Show, 12:30pm &3:30 pm
• Friday,January 28—Les Schwab Shootout in Kent, 10:00 am (seven high school games)
Upcoming Banquet Events
• Saturday, November 6—Rotary Club of Kent Sunrise Annual harvest for the Community Dinner&Auction
• Sunday, November 7—Allied Waste Party,4:30pm
• Sunday, December 5—Veolia Transportation
• Saturday, December 11—Hermanson Christmas Party
Upcoming Community Events
• Monday's—November 1 thru Feb 28—ShoWalk Community Walking,9a-11a
• Thursday, November 4—Le Cordon Bleu Graduation,6:00pm
• Friday, November 5—Josh McDowell, 6:30pm
Notable Happenings
• Green Washington Award from Seattle Business Magazine—October 2010
• Visits from KING 5 Morning News & Evening Magazine this fall, MTV2 coverage of Seattle Mist
• Cork Re-Harvest Program launched by SAVOR
ShoWare Center
PARKING ALWAYS FRS N OV E M B E R 2010 G Group S suites
Discount Available
Monday's Kent4Health - Free Indoor Walking, 9:00 AM - 11:00 AM,
www.kent4health.com (Nov. 1, 8, 15, 22 & 29)
Nov 2 Seattle Thunderbirds vs Red Deer 7:05 PM ($16 - $40) G S
Nov 3 Stone Temple Pilots in concert, 7:30 PM ($25 - $49.50) S
Stone Temple Pilots Nov 4 Le Cordon Bleu Graduation, 6:00 PM
November 3
� Nov 5 Josh McDowell, 6:30 PM, visit Josh.org for information
i Nov 10-14 Disney On Ice: Let's Celebrate! Nine performances ($18 - $67)
t' G S
9 Nov 19 Seattle Thunderbirds vs Spokane 7:35 PM ($16 - $40) G S
Nov 20 Seattle Thunderbirds vs Everett 7:05 PM ($16 - $40) G S
Nov 24 Seattle Thunderbirds vs Tri-City 7:05 PM ($16 - $40) G S
World Champion ICE Racing Nov 27 Seattle Thunderbirds vs Kootenay 7:05 PM ($16 - $40) G S
December 4 i Nov 30 Seattle Thunderbirds vs Medicine Hat 7:05 PM ($16 - $40) G S
i
DECEMBER 2010
ShoWare
December 4 351h Annual World Championship Motorcycle ICE Racing 7:30
1
PM ($9 - $30) G S
a
Box Office Hours December 10 The Ladies Night Out concert, 8:00 PM, ($27 - $47) G S
Monday-Friday - 10am-5pm December 11 Seattle Thunderbirds vs Tri-City 7:05 PM ($16 _ $40) G S
Saturday - 10am-2pm December 14 Seattle Thunderbirds vs Spokane 7:05 PM, 2-for-Tuesday
Box Office opens two hours ($16 - $40) G S
before events
December 18 Seattle Thunderbirds vs Portland 7:05 PM ($16 - $40) G S
Tickets are available at December 19 Michael W. Smith in concert 6:00 PM ($25 - $75) G S
ShoWare Center Box Office,
ShoWareCenter.coni, or call 1 December 22 South Sound Challenge High School & College Hoops action,
(253) 856-6999. 9:30 AM
Ticket prices subject to December 28 Seattle Thunderbirds vs Spokane 7:05 PM, 2-for-Tuesday
convenience fees. ($16 - $40) G S
For group sales and suites
call (253) 856-6705 +
The Ladies Night Michael W Smith
Out Concert Christmas Show
Call to learn more;
about hosting your December 10 F
' December 19
next corporate or
community meeting
at ShoWare Center! Get in the loop and stay connected!
(253) 856-6715 ShoWare Center uses Facebook & Twitter LL A']
.....v.
Visit us online - ShoWareCenter.com
ShoWare Center/SMG
Income Statement
As of September 30,2010
September September u L Total YTD Total YT'D
Actual Budget %I Actual Q1 Budget Q2 Actual Q2 Budget Q3 Actual Q3 Budget Actual Budget
Direct Event Income
Rental Income $ 7,643 $ 51,095 $ 234,452 $ 255,890 $190,531 $ 133,000 $ 179,400 $ 79,095 $ 604,383 $ 467,085
Service Revenue 2,988 6,460 29,708 30,341 2,659 6,214 3,856 6,460 36,223 43,015
Service Expenses (27,385) (48,476) (253,063) (204,835) (73,633) (90,964) (157,273) (59,740) (483,969) (355,439)
Total Direct Event Intone (16,754) 9,079 11,097 81,395 119,557 48,350 25,983 25,815 156,637 155,560
Ancillary Income
F&B Concessions 14,429 57,199 169,861 312,431 38,266 ]03,859 35,403 10,262 160,51 493,069
F&B Catering 31,564 9,868 36,105 53,288 69,007 29,117 55,403 10,664 160,515 93,069
Novelty Sales 0 0 9,419 10,667 3,777 7,080 6,836 - 20,032 17,747
Total Ancillary Income 45,992 67,067 215,385 376,386 111,050 140,056 98,013 73,926 424,449 590,368
Other Event Income
Luxury Box Ticket Sales - 1,000 3,374 7,000 3,736 - 1,500 1,500 8,610 8,500
Ticket Rebates 0 12,200 25,374 36,400 5,904 26,000 13,321 16,200 44,599 78,600
Facility Fees 3,737 19,503 63,629 99,956 18,513 31,512 15,925 23,503 98,067 154,971
Total Other Event Income 3,737 32,703 92,377 143,356 28,153 57,512 30,746 41,203 151,276 242,071
Total Event Income 32,475 108,849 318,959 601,137 258,760 245,918 154,742 140,944 732,361 987,999
Other Operating Income 62,780 72,898 233,003 233,132 181,818 189,819 188,992 199,444 603,813 622,395
Adjusted Gross Income 95,755 181,747 551,862 834,269 440,578 435,737 343,734 340,388 1,336,174 1,610,394
INDIRECT EXPENSES
Salaries&Wages 85,178 100,016 357,430 352,795 294,732 270,163 247,448 251,749 865,651 206,388
Payroll Taxes&Benefits 15,844 22,932 66,734 68,796 51,005 68,796 47,912 68,796 1G5,651 206,388
Labor Allocations to Events (19,018) (30,813) (140,581) (151,049) (58,231) (59,235) (46,521) (38,774) (245,333) (249,058)
Net Salaries and Benefits 82,004 92,135 283,583 270,542 287,506 279,724 248,839 281,771 819,928 832,037
Contracted Services 12,075 14,682 37,670 44,046 36,132 44,046 38,873 44,046 U2,675 132,138
General and Administrative 12,487 15,724 74,782 48,172 31,547 47,172 36,109 47,172 142,438 142,516
Operating 4,306 7,186 22,944 21,558 10,739 21,558 10,970 21,558 44,653 64,674
Repairs&Maintenance 4,684 4,787 6,637 14,361 8,605 14,361 28,588 14,361 43,830 43,083
Operational Supplies 1,681 5,350 10,328 16,050 5,516 16,050 10,115 16,050 25,959 48,150
Insurance 5,230 6,428 19,284 19,284 19,284 19,284 16,467 19,284 55,035 57,852
Utilities 47,488 31,625 119,440 127,875 53,061 61,875 104,487 79,875 276,988 269,625
SMG Management Fees 20,669 20,367 61,101 61,101 62,915 61,101 62,007 61,101 186,023 183,303
Total Indirect Expenses 190,624 198,294 635,769 622,989 515,305 565,171 556,455 585,218 1,707,529 1,773,378
Net Income(Loss) $ (94,869) $ (16,537) $ (83,907) $ 211,280 $ (74,727) $(129,434) $(212,721) $(244,830) $ (371,355) $ (162,984)
Quarterly Actual to Budget Variance $ (295,187) $ 54,707 $ 32,109 $
208,371
_.__ .. _....,... ._ .__ ..__..__....._..,....__._._.._......._....,_...___v_......_.... _.._.........._....._......_........._...__.._........_...._......_...........__..............-._...._...____.............
ShoWare Center Operating Expenses
$350,000 . �� _._ _� __� _�.�w.. m _ __ .__.._.....__ .........................._...._........._..._._....___..._ .__._.._....
2009 2f 10
$300,000 _ ......... _M w.., _ _ __,_ _.. _..M _M� __._.._...._....... _..... _..._.._.. __ _...._......_._.. _
$263,076
$252,367
$248,921
$250,000 ....
i
$220,091:
$198;382 $20.3,189
$211,514
$200,000 y.w _ _. W .._.............................. _ _ _ _
$204,164 $184,118 $189,186 $186,434
$184,815
19a 624
$183,374
$175,357
$169,027 $162,904 $167,449
i
$150,000 ......:......_....._ _...:..
� 3
Eti
$1.00,000 ..._...:__ ._..._ _..__ _..._.._.........,_._. _..wpm_... _� w___..__.._. . .
January February March April May June J afy August September
KENT SPECIAL EVENTS CENTER
PUBLIC FACILITIES DISTRICT FUND (PFD)
September 30, 2010
Revenue &Debt Svc Fund
2009 2010 2010 2010 2011
Actual Budget YTD Est Actual Budget
Beginning Fund Balance 166,327 105,232 109,762 109,762
REVENUES
Investment FMV Inc/Dec (17)
Sales & Use Tax 576,296 850,000 450,693 610,924 850,000
Intergovernmental 3,072,614 2,894,440 1,325,942 3,022,851 2,885,050
Interest - Sales Tax 1,279 677 903 -
TOTAL REVENUES 3,650,172 3,744,440 1,777,312 3,634,678 3,735,050
Transfers In-Bond Proceeds 6,306
TOTAL RESOURCES 3,822,805 3,849,672 1,887,074 3,744,440 3,735,050
EXPENDITURES
Services and Charges 758
Debt Service 3,716,815 3,744,440 1,574,720 3,744,440 3,735,050
TOTAL EXPENDITURES 3,717,573 3,744,440 1,574,720 3,744,440 3,735,050
CHANGE IN FUND BALANCE (61,095) - - 202,592 (109,762) -
ENDING FUND BALANCE 105,232 105,232 312,354
10/28/2010
Kent Special Events Center Public Facilities District (PFD)
Sales Tax Revenues
As of September 30, 2010
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 45,221.7.8
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
1,708,795.84
* Revenues for January and February were accrued back to 2009. Reversal
of accrual occured in the December 2010 closing.
10/28/2010
Kent Events Center Operating Fund
As of September 30, 2010
2009 2010 2010 2010 2011
Actual Budget YTD Est Actual Budget
BEGINNING FUND BALANCE (700,287) (1,025,923) (1,025,923) (1,025,923) (1,275,923)
REVENUES
Lodging Tax Transfer 31,000
Admissions Tax 259,156 500,000 78,246 360,000 500,000
SMG Income 200,000 200,000
Total Revenues 290,156 700,000 78,246 360,000 700,000
TOTAL RESOURCES (410,131) (325,923) (947,677) (665,923) (575,923)
EXPENDITURES
Salaries& Benefits 69,783 40
Supplies 236
Services 545,773 700,000 599,891 800,000 700,000
TOTAL EXPENDITURES 615,792 700,000 599,931 800,000 700,000
Change In Fund Balance (325,636) (521,685) (440,000)
ENDING FUND BALANCE (1,025,923) (1,025,923) (1,547,608) (1,465,923) (1,275,923)