“I should point out that this is a worst-case budget,” facility manager Jim Lambert said on Thursday night, while presenting the budget figures to council.
The figures presented by Lambert show total projected revenues of $1,759,718.
Expenitures, however, are estimated to come in at $2,496,987, which culminates in a projected deficit of $737,269.
“We know there is a going to be a lot of revenue there that is not stated,” Mayor Bob Taylor said, regarding the potential for additional money to be generated through concerts and conventions and sales of alcohol and other extras at such events.
Councillor Tom Taggart said the projected first-year loss is about what was anticipated during discussions over the past few years leading up to the completion of the civic centre, but he also suggested the information would not be well received by all.