By:  Diane Benjamin

Of course the Coliseum statements for the 3rd Qtr (Nov 14 – Jan 15) showed up today.  The Pantagraph printed the fiction fed to them by Coliseum Management, so now they can release their statements.  First, look at the attendance report below.

Cirque Du Soleil was a 4 day event – it only drew 7,141 people

Twisted Athletics Cheer and Dance Competition was a day event – it drew 4000 people.  I saw pictures of an empty arena, the 4000 people must have been out when they were taken.

Look at the other dismal numbers yourself.  How do they pay for the ice, lights, and heat with attendance that low.

3rd Quarter Report – Attendance

I’m only going to post the first page of the financial statement CIAM created.  You can see the whole thing here – it’s now posted on the City website: http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=8264 

See my comments below:

1)  Concession Revenue:  This number represents what BMI Concessions (John Butler) says the City earned according to the contract.  He provides no proof that this number is accurate, we are supposed to trust the City is getting their share.  This is one of the things the Illinois Attorney General will rule on.

2)  Total Income:  The annual budget is 2,563,918.00.  For 3 Quarters, the budget is ( 2,563,918.00 /4 * 3) $1,922,937.  CIAM reported income of $1,353,010.40.  Year-to-date income is down $569,927 from the projections!

3)  Event Income:  This isn’t really income.  The Coliseum provides these services for the acts and then bills them.  They may mark-up their service, but this is mostly a reimbursement of what they paid.

4)  Amusement Tax Collected:  Your tickets cost more because last year the City passed an amusements tax.  Of course it isn’t income to the Coliseum either, but it is included in Revenue.  I wonder if they took a Management Fee on it too? (4%)

5)  Merchandise Income:  Commissions are income.  Taxable Sales and Sales Tax sure aren’t!  They included it in Revenue anyway, again, did they pay themselves a management fee on it?  (4%)

6)  Payroll:  CIAM doesn’t think you have a right to know who is getting paid at your taxpayer owned asset.  The Attorney General will also rule on this.  At least the payroll has been cut from the projected budget.  The number of events don’t justify the payroll they used to have.  Still, the payroll is more than $1 million per year.

On page 2 – see it on-line – CIAM lists their cut:

Management Fees $32,936.07

Commissions $33,931.05

Add to that the income from BMI Concessions that John Butler won’t disclose.

Maybe this is the economic activity John Butler referred to.

He could at least say thanks for the cash folks.

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