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HomeMy WebLinkAboutCity Council Committees - Public Facilities District Board - 04/30/2015 -400 KENT WASHINGTON Public Facilities District Board Minutes April 30, 2015 4:00 p.m. City of Kent City Hall Campus Centennial Building, Room 402 Boardmembers present: Mike Miller, Cass Prindle, Lew Sellers, Randall Smith and Jeff Piecewicz Others present: ShoWare Center General Manager Tim Higgins, ShoWare Center Director of Marketing Ryan Hart, ShoWare Vice President Colin Campbell, ShoWare Center Director of Operations Josh Holmes, City of Kent Finance Director (Board Treasurer) Aaron BeMiller, City of Kent Economic and Community Development Director Ben Wolters, City of Kent City Clerk (Board Secretary) Ronald F. Moore and Reporter for the Kent Reporter, Steve Hunter I. Call to Order. The meeting was called to order by Chair Mike Miller at 4:00 p.m. a. Motion to approve the special meeting minutes of January 9, 2015 and the regular meeting minutes of January 29, 2015. Lew Sellers moved to approve the minutes of January 9, 2015 and January 29, 2015, seconded by Randall Smith. Motion carried 5-0. II. Financial Reports. a. City of Kent. Aaron BeMiller, Finance Director discussed the March 31, 2015 ShoWare Center Operating Fund. He communicated that there aren't any admissions tax receipts because they are due on April 30. He noted that the City's fund is beginning with a positive balance and stated that there wasn't much activity with the Kent Event Center Fund. He noted that the sales tax figures have a two month lag and the amount received in January is shown in March, which was about $8, 000 more than January 2014. BeMiller discussed the conversation with the State Auditor's Office concerning the finding. He noted that the contingent loan will not be repaid. He noted that the City staff went back and came up with new language and it is being called a subsidy. Additionally, there are some other items that are in the agreement that need to be addressed. He noted that the City needs to determine how to handle the receivables because the City is receiving 18.7 million as a receivable and the ShoWare shows it as a deliverable. He noted that there would need to be a formal forgiveness. He added that the Public Facility District (PFD) bonds are refundable in 2018 and it is unlikely they would be refunded through the Public Facilities District Board Minutes April 30, 2015 PFD, but through the City. This would flip the agreement because the debt service would be a part of the City and the PFD would be paying the City. He noted that the only issue is ensuring that the sales tax credit is still able to be received if this occurs. He said it is being worked on now and a workshop will occur in mid-June to discuss this. Miller confirmed that the agreement may be brought before the PFD Board in July. BeMiller confirmed that the sales tax bonds aren't refundable. He noted that the $53 million would need to be financed. BeMiller noted that the bonds were scheduled to be retired in 2018 and confirmed that the sales tax credit would still be received. b. ShoWare Center. Arletta Voter, ShoWare Director of Finance communicated the direct event income revenue. She added that the repairs and maintenance shows a maintenance category that was paid in the first quarter, but it all was addressed at the beginning of the year so it will be under budget at the end of the year. She noted that the utilities increase is because of the playoffs. Miller highlighted the contract that was paid in the beginning of the year and said he is used to showing it monthly. Higgins verified that "Frozen" is November 11 - 16 and they may add another date. He noted that over 33,000 tickets have been sold to the event. Sellers moved to adopt the 1st Quarter ShoWare Center Income Statement, seconded by Smith. motion carried 5-0. III. Operations Update. a. General Manager/Marketing Update. Ryan Hart, ShoWare Director of Marketing - Hart noted that attendance since the ShoWare was opened is 2.3 million with 130,622 attending events this year. He noted that they are 4,000 ahead of the 2014 pace. He added that Theresa Caputo will be completely sold out before June and they have added the capacity for 5,000 more people. He noted that Rock and Worship Road Show was sold out on March 12 and they have booked for next year. He announced that the Scorpions with Queensryche will be at the ShoWare in October and it is 75 - 80 percent sold out from being announced last weekend. He discussed the Washington FIRST Robotics Championships and said it was a huge success. He noted that they are working on 2016 dates. "Frozen", due to popular demand, added another date on November 13 and will be here from November 11 - 16. Miller confirmed that there weren't any new schools that have booked their graduation ceremony at the ShoWare. Miller noted with Higgins that there are dates in December they are looking to fill. 2 Public Facilities District Board Minutes April 30, 2015 Higgins discussed the Tacoma Stars and noted that they are looking to work with the Thunderbirds for assistance with filling seats. He discussed the dates of the 10 game Stars season. He also verified that midweek sales of adult hockey are going well at the facility. Sellers added that there has been tremendous growth in both the adult and kids organizations. b. Seattle Thunderbirds Update. Vice President Colin Campbell communicated that the hockey legislation is awaiting execution and stated that it is good legislation. He discussed the hockey season and stated that attendance went well this year and it was good to have a longer season. He noted that they had the third youngest team in the league and they should be a real good group next year. He noted that they are getting ready for the Bantam Draft and NHL Draft. Work on schedules begins next week and they are about 3/4 of the way through it, he said. He noted that during the second half of the season either Portland or Everett will be in the ShoWare. Overall, he stated that the schedule is shaping up nice. He communicated that contracts are going well and Muckleshoot, Les Schwab have resigned, but Valley Medical is looking to back off everything except "Pink the Rink" night. The hockey school is in August and training camp is late August. The exhibition is September 17 against Victoria and the first home game is on October 3. Campbell noted that there will only be 15 or 16 games in the beginning of the season and it will pick up the second half of the season. Miller communicated that the facility is about 200 over last year's attendance numbers. Campbell noted that the big challenge is what to do with three Wednesday night games. Miller confirmed with Campbell that most of the suites were sold during the year. Campbell also noted that naming rights for the upper lounge is being deliberated now and they are working to get the agreement executed. The attendees confirmed that the next meeting is July 30, 2015. Meeting adjourned at 4:37 p.m. Ronald F. M re, M Board Sec etary 3 `L KENT dEut;a raax r.a nron AGENDA City of Kent Special Events Center Public Facilities District Meeting Thursday, April 30, 2015 @ 4:00 p.m. Kent City Hall Centennial Building Room 402 Board members Mike Miller - Randall Smith - Cass Prindle - Lew Sellers - Jeff Piecewicz Officers Mike Miller, Chair - Ronald F. Moore, Secretary - Aaron BeMiller, Treasurer I. Call to Order a. Introductions b. Motion to approve the special meeting minutes of January 9, 2015 and the regular meeting minutes of January 29, 2015. II. Finance Reports a. City of Kent - Aaron BeMiller, City of Kent Finance Director (Board Treasurer) b. ShoWare Center - Arletta Voter, ShoWare Director of Finance III. Operation Update a. General Manager Update - Tim Higgins, ShoWare General Manager b. Marketing Update - Ryan Hart, ShoWare Director of Marketing c. City Update - Ben Wolters, Economic & Community Development Director i. Hockey Player's Legislation IV. Seattle Thunderbirds Update - Colin Campbell, Vice President/Assistant General Manager a. Thunderbird Sales, Marketing & Attendance Update b. Advertising & Suite Sales V. Other Business VI. Adjournment i KENT Public Facilities District Board Special Meeting Minutes January 9, 2015 City of Kent Centennial Building Room 402 Board Members present: Chair Mike Miller, Lew Sellers, and Randall Smith Others present: Finance Director (Board Treasurer) Aaron BeMiller, City Clerk (Board Secretary) Ronald F. Moore, ShoWare General Manager Tim Higgins, ShoWare Director of Finance Arletta Voter, Councilmember Brenda Fincher, Senior Accountant,Daniel Leahy, and Accounting & Reporting Manager Lavina Brennecke, City Auditor Robert Goehring, and Reporter Steve Hunter from the Kent Reporter State Auditor's Office staff: Deputy Director Sadie Arm,ijo ,Audit Supervisor Haji Adams, Audit Lead Iryna Khleborod, and Audit Manager Renee Meyer I. Call to Order. The meeting was called to order by Chair Mike Miller at.1.1:01 a.m. and all attendees introduced themselves. II. 2014 State Auditor's Office Audit (SAO) - Audit Supervisor Haji Adams stated that this is the exit conference and the Auditor's Office will review the results of the audit. He highlighted the agenda and stated they,will discuss the financial statement audit report, recommendations not included in the audit report, the report publication, the next scheduled audit, and the customer service survey. He noted that this audit, pertains to the 2013 financials of the Kent Special Events Public Facilities District (PFD). He stated that in relation to the report there were no uncorrected misstatements in the audited financial statements. However, there were material misstatements.in the financial statements which were corrected by management during the audit. He stated that there is a deficiency in internal control over financial reporting and no instances of noncompliance that could have a direct and material effect on flee financial statements. Adams stated that this deficiency is a finding and stated that the SAO reviewed;payments the Ristrict received from the City to meet its debt service-payments on the,bonds. The District recorded these payments as intergovernmental,revenues. However, the agreement between the District and the City states,the payments are required\to be recorded as a loan to the PFD. Therefore, he said, the District did not follow the-terms and conditions of the contingent loan agreement between the PFD andthe City of Kent regarding financing for the PFD. He explained that Generally Accepted Accounting Principles (GAAP) require loan proceeds be reported as a liability and although District management was aware of the reporting requirements, it chose not to follow GAAP. He stated that the SAO recommends the District pursue additional technical guidance when unsure of accounting treatment for its financial transactions and that the parties work together to amend the agreement to reflect the current status of the repayments. Public Facilities District Chair Mike Miller inquired what the SAO wants to see next year and Meyer responded that the expectation of the SAO is that the financial statements reflect what is going on. Miller continued and stated that he would prefer this not being an asset on the City's books. He noted that given the ShoWare financials this shouldn't be a note receivable for the City. He communicated that there is support to revise this on the Board and hopes the City Council agrees. Adams noted that there were not any exit recommendations noted in the report and they were provided to and corrected by management. He stated that the report will be published Public Facilities District Board Minutes January 29, 2015 of December 2014 was approximately $3.8 million which left an ending PFD Fund amount of just about $120,000 at the end of 2014. b. ShoWare Center. Arletta Voter, ShoWare Center Director of Finance discussed the 4th quarter and year-to-date calculations. She stated that the ShoWare ended the year with a $752,324 loss which includes unanticipated capital expenses (ice issues) of $182,373. She stated that the 4th quarter was more successful than 4th quarter 2013. She handed out and highlighted the 2015 budget and proposed income statement for 2015. Miller announced that the admissions tax is given directly to the City and the revenue for 2014 was $264,000. Higgins further explained that the admissions tax is 5 percent of all ticket sales at the-ShoWare Center. Miller communicated that there was a $28,000 Ioss for October, almost a $50,000 profit for November, and a $4,800.ioss,for Decein.ber 2014. Therefore, for the last quarter in 2014 the`ShoWare showed a profit of $24,781 for operations. Higgins noted that there were more;tha,n 60 events held at the ShoWare during the 4th.quarter of 2014. Higgins discussed the utilities and said the costs are similar, but Comcast is new and costs $25,000. Wolters.confirmed`that they are looking into having another competitor provide cable services for the facility at a better rate. Miller highlighted repair and maintenance expenditures. He stated that the facility was a little'over budget in October, slightly under in November, and significantly`"under in December. He stated that this resulted in the facility being unde"-.,budgetIor-the quarter. Wolters.communicated`that the City is continuing to move forward with the issues on the compressor system and moving forward to having potential.litigation.-Also, he stated that there have been some lessons learned°on"the system and one once the maintenance contractor has looked at the°entire system there will be more to learn. He added that one of the hot water heaters has been replaced at a cost of $56,000. Piecewicz confirmed that the piping will be redone at the end of the season and adjustments will be made to it. BeMiller explained that since the compressor was capitalized in the beginning and it is being replaced it is considered maintenance. However, if it was ten years from now it would have been replaced. BeMiller highlighted the State Auditor's Office exit conference and stated that the City is continuing to work on changing the contingent loan agreement and are working with bond counsel. He noted that the revised language will be brought to the Council. Miller noted that if the language is adopted by the Council it would be brought to the Board in April. 2 Public Facilities District Board Minutes January 29, 2015 Piecewicz inquired about the language in the contract concerning profits from the ShoWare and Wolters responded that if there is a net profit then those funds reside within the working account under the City of Kent for the ShoWare Center for other expenses. He added that the City can draw upon that account for the General Fund. However, any excess funds would most likely be used for capital replacement or debt service. He added that any renovation would be handled under a public works item and anything over $50,000 would have to go through a public works contracting process. Additionally, anything over $25,000 would need to be approved by the Council. Higgins communicated that the projected loss for the ShoWare Center 2015 budget is $463,675. He noted that this budget is-`based on what the facility has historically done in the past. Continuing; he-discussed Disney on Ice "Frozen" and communicated that the ten shows in November are almost sold out. He also noted that there are more confirmed ticketed events to be held at the facility this year than any other year. Wolters noted that the budget is approved through the contract with SMG and the City. He stated that the admissions tax,and the sales tax on goods and services purchased by patrons, the ShoWare Center, and the Thunderbirds adds up to about $500,000 that the City receives per year. He added that the goal is for those funds to go,to debt service or replacement. III. Operations Update. a. General Manager/Marketing Update ShoWare Center. Ryan Hart, ShoWare Center Director of Marketing highlighted radio campaigns and discussed how the facility partners with radio stations and businesses for advertising. Higgins discussed indoor soccer and noted that there were attendance problems with the'former teem.He stated that the Tacoma Stars will be playing-in the facility,,,and there has been an increase in ticket sales. He stated that he is confident that they will be utilizing the facility as their home. He continued and stated that Promise Keepers had 6,000 people at the ShoWare and their event went well. On March 12, he noted that the Rocket Worship Roadshow will be at the facility with 7,000 seats available. He announced the "Hello Kitty" tour and there will are 2,500 tickets available for that event. The graduation events were also highlighted. Hart discussed an article in "Venues Today" for the facility being noted as the #1 Pacific Northwest facility based on size. He noted that the rankings are based on attendance figures for the year. He added that the facility will finish 2014 with an attendance figure of over 370,000. He reviewed the Facebook, Twitter, and social media numbers. He reviewed the success of the Thunderbirds and their work with Hispanic promoters to bring more shows to the facility. He reviewed Disney on Ice and noted that it brings 35,000 people to Kent. He noted that on November 21, the 2 millionth ShoWare Center guest was greeted into the facility and he won two tickets to each event for the year. Hart discussed the partnership with 3 Public Facilities District Board Minutes January 29, 2015 the Wolf radio station. He also highlighted the Harlem Globetrotters schedule and that Mayor Cooke is going to be playing in two of the games. He announced Sesame Street Live will be at the facility in May and they will not be at the Tacoma Dome. He stated that this presents a great opportunity to incorporate more children's events. He discussed high school basketball and that it features both girls and boys teams. He stated that You, Me, We is also going to be at the ShoWare and that the Washington First Robotic State Championships will be held on January 31. b. Seattle Thunderbirds Update. ShoWare Center Director of Ticket Sales Sean Runnels stated that the Thunderbirds have had a good holiday season and crowds of 5,200, 5,500 on December 20, and 6,200 on December 30. He stated that ticket sales have gone well. He reported on the Community Sports Foundation funds, which have,awarded $323,149.22 to youth sports organizations. He also discussed the 50/50 raffles and communicated that 11 suites are spoken for on an annual basis and overall suite sales have increased. Piecewicz confirmed that the parking capacity at the facility'is 850. It was also noted that people park at the park-n-ride and Kent Station. Wolters discussed the ongoing claim for the compressor. He thanked the board and reminded the board of their terms. He noted that Sellers and Prindle's terms end on September 1, 2015. He stated that the Lodging Tax and Advisory Board have set aside funds to promote the ShoWare Center. The attendees confirmed that the tpext meeting is April 30, 2015. Meeting adjourned at 5:09 p.m. Ronald,F. Moore,.MMC Board,Secretary 4 KEN7 Public Facilities District Board Minutes January 29, 2015 4:00 p.m. ShoWare Center 625 West James Street Boardmembers present: Mike Miller, Cass Prindle, Lew Sellers, and Jeff Piecewicz Others present: ShoWare Center General Manager Tim Higgins, ShoWare Center Director of Marketing Ryan Hart, ShoWare Center Director of Operations Josh Holmes, City of Kent Finance Director.,(Board Treasurer) Aaron BeMiller, City of Kent Economic and Community Development Director Ben Wolters, City of Kent City Clerk'(Board Secretary) Ronald F. Moore and Reporter for the Kent Reporter, Steve Hunter I. Call to Order. The meeting was called to order�by Chair MikeMiller at 4:00 p.m. a. Introductions. No formal introduction took place. b. Motion to approve thetminutes of October 29, 2014. Lew Sellers moved to approve the minutes of October 29, 2014, seconded by Randall Smith. Motion carried 4-0. II. Finance Reports. a. City of Kent._/Aaron BeMiller, City of Kent Finance Director/Board Treasurer reviewed the Kent Events Center Operating Fund handout. He noted that the document addresses the City's ShoWare Cen#er,Operating Fund,and not/much has changed with it. He noted that the estimated actuals show that there will be $264,000 in admissions tax which is fairly strong. Expenditures are estimated to be $920,000 and an overall loss of,$224,000 in the City fund. He noted that at the Council will be considering on Tuesday whether or not to allocate additional General Fund monies into`ths account to alleviate the debt. BeMiller responded to Piecewicz that this allocation would be a one-time allocation to relieve the current negative City ShoWare fund balance. He added that this fund pays the SMG each year. BeMiller continued and reviewed the PFD Fund and stated that for the most part the balances are pretty good. He stated that Kent Special Events Center Fund beginning balance is $131,000 and anticipating collecting $755,000 in sales and use tax monies. Additionally, the City will be depositing funds as a part of the intergovernmental funds and the total resource will be about $3.9 million. However, the debt service at the end Public Facilities District Board Special Meeting Minutes January 9, 2015 on the SAO website and are distributed electronically. The next audit is scheduled to occur in 2015 and will cover the financial statement. Adams concluded that the estimated cost of the next audit is $5,759 plus travel expenses and the customer service survey will be emailed to Daniel Leahy. VI. Adiournment The meeting adjourned at 11:12 a.m. Ronald F. Moore, MMC City Clerk/Board Secretary b , �4 4j a Y t . f.. t' �R Y 2 ShoWare Center Income Statement For the Quarter Ending March 31,2015 January January February February March March Total YTD Total YTD Actual Budget Actual Budget Actual Budget Actual Budget Variance Direct Event Income Rental Income $ 92,397 $ 91,393 $ 131,191 $ 110,303 $ 57,957 $ 70,939 $ 281,545 $ 272,635 $ 8,910 Service Revenue 8,626 10,748 17,707 19,238 10,213 12,344 36,547 42,329 (5,782) Service Expenses (81,509) (95,924) (110,815) (111,731) (65,934) (70,129) (258,255) (277,780) 19,525 Total Direct Event Income 19,514 6,217 38,083 17,810 2,236 13,154 59,837 37,184 22,653 Ancillary Income F&B Concessions 57,613 90,849 113,729 104,324 65,092 79,309 236,437 274,480 (38,043) F&B Catering 4,467 12,888 16,484 13,247 31,182 18,250 52,135 44,381 7,754 Novelty Sales - - 4,480 4,000 4,900 1,500 9,380 5,500 3,880 Total Ancillary Income 62,080 103,737 134,693 121,571 101,174 99,059 297,952 324,361 (26,409) Other Event Income Luxury Box Ticket Sales 22 - 1,512 2,000 12 0 1,546 2,000 (454) Ticket Rebates 4,085 16,500 11,707 13,200 25 9,500 15,817 39,200 (23,383) Facility Fees 20,005 36,034 40,634 40,808 19,651 20,126 80,290 96,968 (16,678) Total Other Event Income 24,112 52,534 53,853 56,008 19,688 29,626 97,653 138,168 (40,515) Total Event Income 105,706 162,488 226,629 195,389 123,098 141,839 455,442 499,713 (44,271) Other Operating Income 57,451 66,822 71,322 69,679 58,642 61,106 187,413 197,607 (10,194) Adjusted Gross Income 163,157 229,310 297,951 265,068 181,740 202,945 642,855 697,320 (54,465) INDIRECT EXPENSES Salaries&Wages 112,758 129,251 127,917 137,941 132,164 120,226 372,839 387,418 (14,579) Payroll Taxes&Benefits 17,237 26,886 24,992 26,886 25,304 26,886 67,533 80,658 (13,125) Labor Allocations to Events (49,526) (58,064) (68,197) (67,196) (44,716) (47,409) (162,438) (172,667) 10,229 Net Salaries and Benefits 80,469 98,073 84,712 97,631 112,752 99,703 277,934 295,409 (17,475) Contracted Services 10,097 8,323 8,621 8,323 10,317 8,323 29,035 24,969 4,066 General and Administrative 30,663 21,029 43,535 18,378 44,194 41,933 118,391 81,340 37,051 Operating 4,261 12,017 11,511 4,617 6,649 5,826 22,421 22,461 (40) Repairs&Maintenance 10,351 6,667 24,858 3,467 7,132 3,467 42,341 13,601 28,740 Operational Supplies 7,589 6,856 4,089 5,108 7,326 3,658 19,002 15,622 3,380 Insurance 7,513 8,166 7,441 8,166 15,513 16,166 30,466 32,498 (2,032) Utilities 51,146 48,733 48,406 45,733 44,264 38,733 143,817 133,199 10,618 Other - - - - 0 SMG Management Fees 11,183 11,271 11,183 11,271 11,183 11,271 33,548 33,813 (265) 0 0 0 Total Indirect Expenses 213,272 221,135 244,356 202,694 259,330 229,080 $ 716,955 $ 652,912 $ 64,043 Net Income(Loss)from Operations $ (50,115) $ 8,175 $ 53,595 $ 62,374 $ (77,590) $ (26,135) $ (74,100) $ 44,408 $ (118,508) KENT SPECIAL EVENTS CENTER PUBLIC FACILITIES DISTRICT FUND (PFD) March 31, 2015 2008 2009 2010 2011 2012 2013 2014 2015 Actual Actual Actual Actual Actual Actual Actual Est Actual Beginning Fund Balance 166,327 105,249 113,261 121,211 123,989 130,696 149,098 Revenues Sales & Use Tax 786,843 576,296 622,136 649,277 677,937 714,360 784,330 780,000 Intergovernmental 3,072,614 3,129,437 3,093,077 3,064,025 3,104,475 3,029,824 3,100,000 Interest - Sales Tax 2,312 1,279 880 646 561 300 308 310 Total Revenues 789,155 3,650,189 3,752,453 3,743,000 3,742,523 3,819,135 3,814,462 3,880,310 Total Resources 2,559,032 3,822,822 3,857,702 3,856,261 3,863,734 3,943,124 3,945,158 4,029,408 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 3,796,060 3,881,.000 Total Expenditures 2,392,705 3,717,573 3,744,441 3,735,050 3,739,745 3,812,428 3,796,060 3,881,000 Change in Fund Balance 166,327 (61,078) 8,012 7,950 2,778 6,707 18,402 (690) Ending Fund Balance 166,327 105,249 113,261 121,211 123,989 130,696 149,098 148,408 KENT PUBLIC FACILITIES DISTRICT Sales Tax Collections Inception to Date thru March 31, 2015 Collected For the in Month of 2008 2009 2010 2011 2012 2013 2014 2015 March January 68,928.08 43,938.87 43,066.80 47,395.15 46,602.21 51,168.67 54,393.18 62,093.69 April February 64,340.03 40,442.93 44,888.03 45,652.41 49,815.46 49,710.74 51,311.25 May March 77,107.07 47,073.92 55,381.54 54,357.38 54,277.64 59,046.95 63,646.55 June April 72,061.77 44,944.15 47,699.19 50,376.18 49,261.77 55,538.05 61,993.29 July May 73,138.12 45,221.78 47,255.93 54,864.70 56,321.68 60,088.10 64,218.58 August June 82,904.41 50,355.97 54,575.49 57,478.70 61,884.22 62,538.27 71,784.55 September July 61,870.79 47,063.45 52,789.08 52,706.22 57,393.92 62,625.41 67,029.60 October August 57,569.76 46,071.06 51,167.58 54,198.64 59,303.71 60,085.81 65,322.35 November September 63,238.50 60,040.81 59,765.33 59,118.63 61,748.38 62,922.07 73,134.60 December October 55,649.74 46,106.71 52,382.66 59,964.74 57,441.73 61,637.13 82,496.84 January November 48,144.96 41,577.34 49,791.39 50,966.32 54,623.15 55,475.85 63,529.29 February December 61,890.26 63,459.30 63,372.68 62,197.75 69,263.39 73,523.24 65,469.92 Total 786,843.49 576,296.29 622,135.70 649,276.82 677,937.26 714,360.29 784,330.00 62,093.69 SHOWARE CENTER OPERATING FUND March 31, 2015 2010 2011 2012 2013 2014 2015 2015 2015 Actual Actual Actual Actual Actual Budget YTD Est Actual Beginning Fund Balance (1,025,923) (1,627,111) (1,910,845) (2,735,808) (2,456,087) 19,990 19,990 19,990 Revenues Admissions Tax 199,199 193,900 281,458 251,405 256,124 259,325 259,325 SMG Income 200,000 Puget Sound Energy Grant 42,376 Transfer In from GF 500,000 3,200,000 500,000 500,000 Total Revenues 241,575 193,900 281,458 751,405 3,456,124 959,325 - 759,325 Expenditures Salaries & Benefits Supplies Services 842,763 477,634 1,092,422 471,684 972,046 528,003 11,113 528,003 Capital Outlay 8,000 Transfers Out 14,000 Total Expenditures 842,763 477,634 1,106,422 471,684 980,046 528,003 11,113 528,003 Change in Fund Balance (601,188) (283,734) (824,964) 279,721 2,476,077 431,322 (11,113) 231,322 Ending Fund Balance (1,627,111) (1,910,844) (2,735,808) (2,456,087) 19,990 451,312 8,878 251,312 CENTER SESAME STREET SEATTLE MIST LIVE: LET'S VS. DANCE! 1 ,T. , '` ° LA TEMPTATION � May 19-20 1 Varies � .(3 � May 29 1 8PM = $17 - $64 '^ � �,j $10 - $55 NiI ON SALE NOW! ' I ' ' ' ON SALE NOW! KENT SCHOOLS _ DOS MUNDOS KENT INTER- TECH TECH EXPO UNA HISTORIA— NATIONAL EXPE April 30 1 6pm �'�' xJ „ - GERARDO ORTIZ K£NrINTeRNA FESTIVAL FREE ADMISSION! May 24 1 8pm TIoNN FESTival May 30 1 Oam � Y ON SALE NOW! FREE ADMISSION! KDP DINNER THERESA STAYIN' ALIVE AUCTION - CAPUTO: LIVE! BEE GEES TRIBUTE June 5 1 5pm THE EXPERIENCE June 261 8pm KENT ON SALE NOW! June nth = June 71 7pm ON SALE NOW! DOWN'I'OWN PARTNERSHIP shoWaI ..;. ON SALE NOW! STAYIN'Al1V 1964 BEATLES SEATTLE MIST vs. HELLO KITTY TRIBUTE LA TEMPTATION '' FRIENDSHIP June 28 8pm r \ _; July 31 8pm • FESTIVAL ON SALE NOW! �`LF�II^1 L Nit 01 ON SALE NOW! • July 24-26 1 Vary ON SALE NOW! SEATTLE MIST vs. SCORPIONS — DISNEY ON ICE LAS VEGAS SIN P. f , 1,. 510"ANNIVERSARY TOUR presents FROZEN Aug 1 8pmQueensry'che Nov 11-161 Vary ON SALE NOW! FRIDAY Oct 91 8pm LIMITED TICKETS STILL „ OCTOGER9 .. ON SALE NOW! A./ AVAILABLE! Tickets canT7'be purchased at the ShoWare Center Box Office,ShoWareCenter.com,or by • 866.973.9613. Box Office Hours: • • •. O. • Box Office opens two hours before events � a— «. / � . � > . w� \ , a • > • . w. ¥ , & . � � � ■ � � ` � � _ - @ @ ■ _ - � ■ . i $ CENTER » . . ® ShoWar Center . 626 W dames S . Kent WA 98032 . Ph 253 856 6999 . ShoWar Cen ercom ® Total Attendance — 2,279,711 • 2011 — 381,159 • 2012 — 352,490 • 2013 — 371,545 • 2014 — 370,015 • 2015 — 130,622 (4k ahead of 2014 pace) SOCIALIZE with ShoWare Center Total Number of unique session visits to www.ShoWareCenter.com — 2,345,016 0 2011 monthly average — 37,393 0 2012 monthly average — 39,804 0 2013 monthly average — 37,141 0 2014 monthly average — 37,313 0 2015 monthly average — 37,697 Total Number of page views — 26,493,184 (9.8 pages per visit) AS OF TODAY — Facebook.com/ShoWareCenter: • 8,491 Total Likes (Increase of 250 since last mtg) • 2,694,027 Friends of Fans • Includes apps for ticket sales, a-news sign-up Twitter.com/ShoWareCenter: • 7,136 Tweets • 997 Following • 1,633 Followers ShoWare Center Recent News / Highlights: • TLC's Long Island Medium, Theresa Caputo, bringing her "Live! The Experience" event to Kent in June o Tickets close to 90% sold out after going on sale just a few weeks ago • Thousands Show Up to Fill ShoWare Center for Rock & Worship Roadshow— March 12 • Scorpions fans eager to get tickets for 50th Anniversary World Tour in October w/ SG: Queensrj the o More than 75% of tickets available purchased during on-sale weekend • Washington FIRST Robotics — FLL and FTC State Championships on January 31 was a huge success — discussions ongoing to confirm 2016 date • Due to popular demand, Disney On Ice adds another performance of Frozen on Friday, Nov 13 — 3:30pm • Mayor Cooke traded mid-game to Harlem Globetrotters, helps them leave Kent with two more wins o Ten tickets donated to Kent Youth and Family Services in the Mayor's name • Tacoma Stars finished up their MASL debut strong with a win over Turlock in the regular season finale o Working with team to confirm 10 home game schedule at ShoWare Center for next season, and the team is excited to be calling the ShoWare Center in Kent their home for the future. Upcoming Ticketed Events • Sesame Street Live: Let's Dance! — May 19-20 • Dos Mundos Una Historia ft. Gerardo Ortiz — May 24 • Seattle Mist vs. LA Temptation — May 29 • Theresa Caputo: Live! The Experience —June 7 • Stayin' Alive — Bee Gees Tribute —June 26 • Bikes, Brews & Tattoos (w/ Lawless Harley-Davidson of Renton) —June 27 • 1964 The Tribute —June 28 ShoWare Center - 625 W James St - Kent, WA 98032 . . . 2 • Seattle Mist vs. LA Temptation —July 3 • Junior Roller Derby Association Championships —July 10-12 • ShoWare Shootout 3-ON-3 BBall —July 17-18 • Hello Kitty Supercute Friendship Festival —July 24-26 • Seattle Mist vs. Las Vegas Sin —August 1 • Ringling Bros. and Barnum & Bailey Circus—September 24-27 • Seattle Thunderbirds 2015-16 Season — starts back up in September • Scorpions — 50th Anniversary World Tour w/ Queensrj the — October 9 • Disney On Ice presents Frozen — November 11-16 • 100.7 The Wolf will be back for their annual Hometown Holiday show— December 9 Upcoming Community & Catering Events • ShoWalk, Monday & Wednesday mornings, 9a-11a — until May 20 • Kent School District—Technology Expo —April 30 • RotaXry Of Kent Auction — May 2 • Kent Chamber Luncheon — May 6 • US Foods — Sales Meeting & Vendor Fair— May 8 • Khalsa Day Parade — May 9 • Kent Pediatric Luncheon — May 15 • Public Works Showcase — May 18 • Kent International Festival — May 30 • Kent Downtown Partnership Auction —June 5 • High School/College Graduations—June 9, 10, 11, 12, 13, 14, 15, 20, 25 o 17 total graduations over the course of 9 event days • Allegro Dance Studio Competition —June 17-19 • Kent Fire Kids Safety Day—June 26 • Seattle Tbirds Hockey School — August 10-15 & 17-22 98032Ph 253.856.6999 • •