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Fishers City venue posts near‑budget first four months; staff cite higher labor, food and utility costs
Summary
ASM staff reported the venue hosted 67 events through April (vs. 51 forecast) and generated about $830,000 in net inbound revenue versus an $840,000 budget; staff flagged higher event labor, food cost of goods sold and utilities and said they will return with more detailed city revenue and bond-closeout figures.
An ASM staff member told Fishers City officials on June 9 that the city’s new venue generated roughly $830,000 in net inbound revenue through April — about $10,000 below a $840,000 budget — while hosting 67 events compared with a forecast of 51.
The update matters to the city because the venue collects a $3 contractual facility fee on each ticket that is remitted to the city and because operating results affect bond repayments and other fiscal planning. Tony, the venue’s finance presenter, and other staff described revenue strengths from touring shows, premium seating and ticketing service charges, and said higher-than-expected event labor, food-and-beverage cost of goods sold and utility costs reduced margins.
ASM staff said the venue’s event mix exceeded initial…
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