CONVENTION CENTER FUND & MUSEUM
BUDGET HIGHLIGHTS:
REVENUE CHANGES:
Budgeted revenue for Hall Rental and rental of the Performing Arts Center increases $60,000 in FY 24. Special Events revenue includes $49,000 anticipated from the Holiday Shopper’s Fair, and $100,000 for city-sponsored events to be held in the Performing Arts Center. Revenue estimates for Concession Revenue and Service Charges decrease $10,000. Sales/Other reflects estimated revenue from the housing bureau. Food & Beverage Tax generated goes toward the retirement of debt for the Convention Center expansion. The rate was reduced from 1% to ½% in FY 10. Food & Beverage Tax is anticipated to generate $1,750,000 that will go toward debt retirement in FY 24. $200,000 will go into a fund for capital improvements at the Convention Center. Both the State Operating grant and the Town’s contribution will increase $162,471 for FY 24.
PERSONNEL CHANGES:
Thirty-five full-time positions are funded in FY 24. Two part-time Maintenance Worker positions were converted to full-time in FY 23. The Destination Sales Manager position was moved to the Tourism Division. A Sales Director position was added in Tourism and is funded 50% in the Convention Center budget. A step increase effective January 1, 2024 has been included. The Museum division employs two full-time employees. Part-time and seasonal positions are used by both the Convention Center and the Museum. Twelve part-time, year-round Maintenance Workers are utilized by the Convention Center, while three Museum Aides and an Office Associate are funded in the Museum division. A second part-time Event Coordinator has been funded in the Convention Center for FY 24. In addition, staffing of the Welcome Center at the Convention Center has been included at $14,250. Overtime in the Maintenance division is funded at $65,000, a reduction of $10.000. Projected benefit costs for pension and worker’s compensation increase, while projected expenses for health insurance and unemployment decrease. No contribution to retiree health has been funded.
CHANGES IN OPERATIONS:
Contracted Services increase in FY 24. Travel and dues for the Sales staff have been funded through the Tourism division. Other Contracted Services include credit card fees, dry cleaning and advertising. In FY 24, $100,000 has been included for potential city-sponsored events held in the Performing Arts Center. Credit card fees were budgeted at $20,000, and a Comcast fiber contract was included at $21,312. Ungerboeck software annual fees have been included at $29,220. Maintenance costs account for $555,348 of the Convention Center budget. Escalator, elevator, HVAC, and equipment repair are budgeted at $479,348. HVAC repairs recommended by the Public Works Facilities Manager total $115,370. The HVAC annual contract cost decreased $32,568 for FY 24. Building maintenance accounts for another $76,000. Overall, maintenance costs increase $5,125. In the Museum budget, general building maintenance has been projected at $19,761. Operational supplies for the Convention Center include costs for such items as exhibit decorating materials, supplies to clean and maintain the building, aisle and booth carpet, and replacement AV equipment. Overall, operational supplies increase $12,413 in FY 24. Energy costs increase $120,000 to heat, cool and provide electricity to the expanded area. Vehicle maintenance costs are expected to increase. Intragovernmental allocations for property insurance and General Overhead expense increase. Debt Service includes principal and interest on the 2013, 2018, and 2021 bonds and the Energy Performance Lease, and increase $1,104 for FY 24. Food and Beverage tax receipts, interest, and prior year Food Tax reserves will be used to pay the debt service on the bonds. Transfer to Reserves includes $200,000 to be set aside for the capital maintenance fund.