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Council reviews tourism fund statements; staff to include Treadway reconciliations in regular reports
Summary
Council received a refreshed tourism fund report with reconciliations of major events. Spirit of Halloweentown generated roughly $489,000 in revenue (city net ≈ $460,000–$465,000); Holiday in the Plaza showed a $113,000 net loss. Council directed staff to continue reconciling contractor-provided event statements and to report monthly.
City councilors reviewed a detailed tourism fund report that reconciled event revenues and the city’s event reserve account.
Staff said Spirit of Halloweentown produced approximately $489,000 in revenue; under the contractor’s 5% profit-share contract the city’s net from that event was reported at about $460,000–$465,000. Holiday in the Plaza posted a net loss of $113,000; the city seed-funded events with an interfund loan of $200,000 that was repaid in the same fiscal year, staff said.
Finance staff said the event reserve (referred to in the packet as the Juana account) held about $269,000 as of March 31, 2025. Councilors pressed for clearer, routine reconciliations supplied by the events contractor, Treadway. Staff confirmed the contract requires monthly reporting from Treadway and said they reconcile contractor statements to the city account records; staff agreed to provide event P&L statements in council reports after events.
Why it matters: large event revenues and losses affect the city’s ability to seed future community events and to repay interfund loans used as bridge financing. Council members said transparent, timely reconciliations will help public understanding and oversight of event subsidies and contractor performance.
Next steps: staff will include reconciled event financials in future quarterly reports and will request a current planning/status report from Treadway about upcoming 13 Nights and other events.
