By: Diane Benjamin
The only hockey that still exist at the Coliseum is ISU. VenuWorks is charging them $2,000 a game – the event report for ISU vrs Bradley shows 120 tickets were sold, 181 people who attended got in free. https://www.cityblm.org/Home/ShowDocument?id=22627
The Flying Aces were charged $5,000 per game. Since attendance was dismal, they no longer exist. https://www.cityblm.org/Home/ShowDocument?id=21437
For some unknown reason the event reports for the arena are on the City website by calendar year instead of fiscal year. Therefore it takes a little more work to show you exactly what was going on from 5/1/2018 through 4/30/2019. (The 2019 fiscal year)
There are 28 events listed at this link during that time frame: https://www.cityblm.org/government/advanced-components/documents/-folder-1694
17 of them are Flying Aces hockey that no longer exists.
At this link there are 29 events during the same time frame: https://www.cityblm.org/government/advanced-components/documents/-folder-1612/-npage-2
16 of them are Flying Aces and 5 are Bloomington Edge who they charged $2500 per game. That team is also defunct.
So, the Coliseum reported event income for 57 events, the participants in 38 of them no longer exist. That means only 19 generated other income. 6 of those were ISU hockey, income is minimal. That leaves 13 events in building that costs you around $2,000,000 a year just in bond payments.
10 of those 13 event warranted pics in the presentation VenuWorks made last Monday night – PDF pages 10-11: https://www.cityblm.org/Home/ShowDocument?id=23151
All of the events held during the fiscal year are listed on PDF pages 12-18. Look at the lists. In case you didn’t notice, the narrative of the Coliseum has changed to a Community Asset and Quality of Life because it is big enough to hold free events like graduations. Long forgotten is the promise of break-even, won’t cost you a cent, and it will pay for itself.
There is a great example of government double-speak on PDF page 26:
For the fiscal year ending April 30, 2019, VenuWorks reports a variance of a
positive $219,147 in Net Ordinary Income from the approved FY19 budget.
This was the first budget submitted by the current Executive and Finance
Directors of the Arena after two full seasons of operations, which provided
more accurate financial data and experience to base the budget upon.
“variance of a positive”?
What they are claiming is they lost less that what was budgeted. Of course the AUDITED financial statements have not been released so we don’t know if this is true of not.
The phraseology isn’t how accountants speak, it’s how people trying to bury a loss speak, even if it’s much better than expected. Of course, looking at the number of shows they should have lost less. Maybe they should turn off the lights and lock the doors more frequently.
Meanwhile, the trial of the former manager – John Butler – should finally start next month!