Agenda Item Request
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Approval of the FY27 Cross Insurance Arena Operational Budget and Trustee Budget.
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Background and Purpose of Request
Annually the CIA Arena General Manager puts together the arena’s operational budget. This budget is based off the projected number of events and sponsorships at the arena. This budget is separate from the budget the Commissioners work through as part of the General Fund, as that budget is focused on the general obligation bonds, operational subsidy (if needed) and a small working capital line. The arena operational budget is annually submitted representing a negative budget, as it is difficult to estimate the number and type of events booked throughout the year. The past four years, a negative submitted budget has ultimately turned a profit by years end and this year’s budget is trending to do the same.
As part of the budgeting process, a Trustees budget is developed that covers the County’s insurances, includes the small capital line and provides a small amount of funding for professional services/legal and parking for Trustee meetings.
The Trustees met in April to review the FY27 Operational Budget and put forth a 5-0 (2 absent) recommendation for approval by the Commissioners.
Funding Amount and Source
FY27 Operational Budget - Event and Sponsorship income generated at the Arena.
FY27 Trustee Budget - Approved through the annual County Budget (Approved March 2027 by the Commissioners).
Effective Date if Applicable
July 1, 2027