finance_budget_cultural_recreational_2012 - Cabarrus County
finance_budget_cultural_recreational_2012 - Cabarrus County
finance_budget_cultural_recreational_2012 - Cabarrus County
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<strong>Cabarrus</strong> Arena & Events Center<br />
Mandated Service<br />
No<br />
Mission<br />
To provide facilities and to support a broad range of entertainment, <strong>cultural</strong>, informative, and educational events in a safe, clean, and userfriendly<br />
environment.<br />
Program Description<br />
As a unique venue in the region, the <strong>Cabarrus</strong> Arena and Events Center complex offers a combined 140,000 square feet of meeting and<br />
exhibit space, a seating capacity of 5,500 people in the Arena, and ten acres of outdoor festival and exhibit space. The venue has the<br />
infrastructure necessary to host musical and theatrical performances, trade shows, sporting events, formal banquets, outdoor festivals, and<br />
agri<strong>cultural</strong> events.<br />
The <strong>Cabarrus</strong> Arena and Events Center facility is managed by SMG, a private facility management company operating over 200 similar<br />
facilities worldwide. SMG’s responsibilities cover all operational aspects of the facility including managing daily operations, marketing the<br />
facility, providing food and beverage service for all events, and routine building and grounds maintenance.<br />
FY 2011 Major Accomplishments & Challenges<br />
Added two multi-year family shows and two multi-year athletic competitions to the event calendar.<br />
Continued food and beverage revenue growth in a period when catering demand is considerably lower than previous years.<br />
Increased service (labor reimbursement) revenue by approximately 30% over the previous year.<br />
Goals & Objectives<br />
To enhance the quality of life in <strong>Cabarrus</strong> <strong>County</strong> by providing a user-friendly, efficiently operated venue to host educational, <strong>cultural</strong>, and<br />
<strong>recreational</strong> events.<br />
Steady reduction in <strong>Cabarrus</strong> <strong>County</strong>’s subsidy of Arena operations.<br />
Maximize exposure and patronage at the Arena.<br />
Performance Summary<br />
Outcomes and Performance<br />
Measures<br />
Current Goal<br />
FY 2009<br />
Actual<br />
FY 2010<br />
Actual<br />
FY 2011<br />
Estimate<br />
FY <strong>2012</strong><br />
Objective<br />
Trend<br />
Comments or<br />
Analysis<br />
Event/Performance days<br />
Total Attendance<br />
Gross Income<br />
% Revenue from non-rental sources<br />
<strong>County</strong> Subsidy<br />
Operating Expenses<br />
Operating expenses as a % of fund<br />
revenue<br />
Net Income/(Loss)<br />
Increase FPY 263 196 197 192<br />
Increase FPY 251,291 232,799 245,423 258,132<br />
Increase FPY $943,739 $985,621 $1,004,471 $1,076,076<br />
48% 57 56% 58%<br />
Decrease FPY $575,540 $638,649 $616,393 $704,998<br />
Decrease FPY $1,519,279 $1,513,634 $1,568,101 $1,715,599<br />
100% 93% 97% 96%<br />
Decrease FPY $0 $110,636 $52,763 $65,475<br />
200
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