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 you've earned," Commissioner Patterson said. Jeff acknowledged problems tied to a transition to a new accounting system and said staff would pursue outstanding invoices.

Commissioners also pressed center management on programming choices and contract terms with the center operator. Commissioners and staff discussed the three-year contract with the operator, which the commission said can be terminated but would require repayment of the prorated portion of a $250,000 scoreboard contribution. "We just started the second year of the three-year base part of the agreement," Mayor Mason said; he and other commissioners said they were prepared to consider the contract's financial consequences if performance did not improve.

Center managers described efforts to increase revenues through partnerships, sponsorships and a more diverse calendar. Claudio (presenter, Stride Bank Center) said new local sponsors—Blue Peak, Culligan and Coca-Cola—have signed on, and that several events are on sale for the new fiscal year, including family shows, Christian music dates and cheer competitions. Management highlighted Comic Con as a recent success and said they are pursuing additional national partners and Live Nation discussions. Jeff and Claudio described a community forum held by the center—six attended in person, about 60 online—which they said produced ideas for diversifying events.

Commissioners repeatedly said the subsidy remains too high and questioned the center’s willingness to take calculated risks and to better target younger demographics. "We're responsible to the citizens," Commissioner Stallings said. "We've got pressure on us, so that pressure is gonna transfer to you guys because we're looking for you to solve the problem." Center staff said they intend to pursue targeted marketing to local colleges and younger residents and to expand convention and community bookings as part of a broader strategy to reduce dark days and raise sponsorship and suite sales.

Managers also described several operational specifics in response to commissioners' questions: the center is moving to improve invoicing after the accounting-system transition, two suites remain unsold, and the operator has been working with the city's marketing and partnerships staff to pursue national sponsors. On production costs, staff explained some touring shows require union labor and outside production crews—costs that affect guarantees and break-even calculations.

Commissioners asked for expedited results. "We're running out of runway," the mayor said, and several commissioners said they expect to see demonstrable improvement in the near term. Center management said they are personally involved in collections and programming work and foresee announcements of additional confirmed shows soon.

Ending: The commission did not take formal action on the presentation. Staff said they will return with regular financial updates and that the city and center leadership will continue to pursue contracts, sponsorships and calendar changes aimed at lowering the subsidy.