Stride Bank Center reports smaller subsidy but commissioners press for faster financial fixes

Stride Bank Center managers told the Mayor and Board of Commissioners that fiscal year 2025 closed with a reduced operating subsidy but several financial and operational concerns remain.

City and center staff reported that the center ended FY25 with a final subsidy of $828,216 and that the FY26 budget targets a subsidy of $739,041 or less. "We ended the year 43 events short of what we normally do," said Jeff (presenter, Stride Bank Center). He added that event operating income was down about $267,000 while expenses were approximately $262,633 and partnership income fell about $69,000.

The update mattered to commissioners because collections and overhead shortfalls were raised repeatedly. Commissioners cited roughly $205,000 in accounts receivable (about $113,000 of which was described as 120 days old), roughly $370,000 in payables (with $150,000 paid the prior week) and a $25,000 bad-debt writeoff. "If you're in front of us tonight asking for additional money, you haven't collected everything that…