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Capital Improvements Board staff reports record 2024 revenues, Taylor Swift concert drove admissions tax spike
Summary
Staff reported the CIB recorded a banner 2024 with total revenues of $238 million, higher-than-budget admissions and operating revenues linked to large events, and several one-time items and expenses that affected line-item presentation.
CIB finance staff reported that the board's facilities posted a record year in 2024, with total revenues of $238,000,000, beating 2022 by about $18,000,000. Staff attributed much of the year-over-year increase to a high volume of publicly ticketed events and exceptional attendance at Lucas Oil Stadium and the Indiana Convention Center.
For December specifically, staff provided a month-end recap and noted a positive bottom-line variance relative to budget. Admissions tax revenue was materially higher than budgeted after a major concert run, and an interlocal agreement catch-up payment also arrived in December.…
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