TRURO – After its first six months of operation, the Rath Eastlink Community Centre (REEC) is facing a deficit of $368,317.
Rath Eastlink Community Centre.
But that figure is in keeping with the centre’s projected losses of approximately $737,000 for its first year of operation.
“I think it’s fair to say that in seven months a tonne of people have gone through that centre,” general manager Jim Lambert, said during a financial presentation Thursday night to Colchester County Council. “We have a lot of groups wanting to rebook for next year,” he said, of arena events. “Our pool is doing very well.”
Figures produced during the presentation show that the RECC brought in revenues during its first six months of $948,207. That was $89,693 higher than was projected.
But the centre’s overall cost of sales was recorded at $162,527 or $21,293 less than had been projected.
Wages costs of $713,046 also came in at $78,518 less than had been projected.
However, the centre’s total operating cost of $1,102.732 was $68.349 greater than had been projected.
The Municipality of Colchester is responsible for $184,000 in deficit funding for the first six months while the Town of Truro is responsible for $184,317 during that period.
Lambert said a good portion of the operating loss during the first six months can be attributed to electricity costs, which are being examined to see how they can be reduced.