Convention Center boosts revenue, lowers expenses
by August 28, 2012 9:22 pm 92 views
The Fort Smith Convention Center (FSCC) posted huge event revenue gains for July 2012 compared to the same period in 2011, moving up to $54,562 for the month from just $13,036 one year ago (a 30-day increase of $41,526).
At the monthly meeting of the Fort Smith Advertising and Promotion (A&P) Commission on Tuesday (Aug. 28), FSCC Chief Operating Officer Tim Seeberg credited “more events and higher grossing events” for the leap in performance.
The most substantial event revenue stream for July came from the Christian Congregation of Jehovah’s Witnesses (CCJW) Annual Conference, which took place June 29.
The FSCC was able to realize $14,900 on the June statement and two additional $14,900 payments on July 6 and July 20 for a total of $29,800 for the month and $44,700 for the event as a whole.
Additionally, the Arkansas Band Master event on July 25 and the Fort Smith Regional Chamber of Commerce Job Fair on July 16 contributed more than $13,600 to July totals with $8,397 and $5,237, respectively.
Year-to-date revenue for the FSCC totaled $387,495 for the first seven months of the year, compared to $284,080 for the same period of 2011, while expenses were at $673,578 for the year, a reduction of $50,029 from 2011’s $723,607.
The YTD revenue for the Convention Center is less than $100,000 away from eclipsing totals for 2011, which posted just $482,373 for the entire 12-month period.
But while revenues and expenses for 2012 are headed in the right direction compared to where they were 12 months ago, the FSCC is still showing a deficit of $286,083 for 2012.
In contrast, the Fort Smith Convention and Visitors Bureau, is faring much better with YTD revenues of $385,723 against YTD expenses of $328,158, a surplus of $57,565 through June 2012.