Things are looking good for Mosaic Place and the field house.
Mosaic Place and field house general manager Scott Clark said there is an estimated year-end surplus of $400,000 with less reliance on the city’s annual grant. Based on the September month-end, the surplus is currently around $393,000.
“We’ve had a good year. We’re not where we want to be as of yet, but we’re getting there and we’re doing well,” said Clark. “The building is busy every day … We think we may have some pretty good revenue in the fourth quarter too.”
Last week’s Alice Cooper concert and the Nitty Gritty Dirt Band concert in October brought in significant revenue. Cesar Millan will be at Mosaic Place on Friday, the Moscow Ballet on Saturday and the Capital One Canada Cup of Curling will take place from Nov. 28 to Dec. 2.
In 2011, the year-end surplus was approximately $837,000, but Clark said 2011 was a “bit of an odd year” as the field house opened its doors in November 2010 and Mosaic Place opened in August 2011 and there was a full slate of events.
Clark said he was very happy with this year’s results and the revenue, but there is always room for improvement.
“I’ve always been in revenue driven positions where my first focus is on the revenue side and we always look at it. Can we do better? Yeah, maybe we can and I think there’s some things we can do,” said Clark. “2012 blew away our expectations … I appreciate the revenue. The support of the building has been outstanding, but on the revenue side we always look at: how can we get better?”
At a board of directors meeting this week, the board approved a 2013 operating budget of $2.95 million with a city grant request of $666,489. The grant request for 2013 is $310,000 less than the 2012 grant. In 2011, the city grant was $1.27 million. Over the past two years, the grant request has decreased by 47.4 per cent or by $600,000.
For more information, see an upcoming edition of the Times-Herald.