“I should point out that this is a worst-case budget,” facility manager Jim Lambert said, Thursday night, while presenting the budget figures to council.
The figures presented by Lambert show total projected revenues of $1,759,718.
Expenditures, however, are estimated to come in at $2,496,987, which culminates in a projected deficit of $737,269. The figures are for the fiscal period from April 1 this year to the end of next March 2014.
Salaries and benefits for civic centre employees for this year accounts for more than $1.6 million of the total expenses.
“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 was initially predicted to be about $350,000 during discussions held 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.
“I don’t want to be critical because I truly support this, I think it’s a great thing for our community,” he said.
“Of course, the naysayers, and that’s the only ones we ever hear from and that’s typical. But I’ve defended this a lot of times and I still defend it but I’ve gotta tell you, that it is going to be hard for me as a politician to defend it a year from now if we look at next year’s budget and it’s still showing that kind of money.”
Any operating losses realized by the facility are to be picked up by both the county and the Town of Truro on a 50/50 basis.
Anticipated revenue:
General (Memberships, corporate, day passes) - $199,017;
Arena - $376,262;
Fitness - $464,825;
Aquatics - $245,452;
Rock climbing - $53,221;
Rentals- $136,800;
Food and beverage - $169,846;
Advertising - $111,250
Other - $3,045
Total = $1,759,718
Expenses:
Administration - $492,004;
Fitness - $358,502;
Aquatics - $622,435;
Food and beverage - $180,272;
Rock climbing - $98,022;
Arena - $427,592;
Marketing - $83,325;
Maintenance - $234,834
Total = $2,496,986.
