Treasurer reports year‑to‑date net loss for Lerner operations; board accepts financial report

Treasurer Nick presented the Lerner Theatre’s August financials and year‑to‑date figures during the Oct. 8 meeting. He reported a gross profit for feeder operations at the end of the period of $536,540, an increase of $25,097 from last year’s $511,443. He said the year‑to‑date net loss for all Lerner operations, including city expenses, is $503,211 — a decline of $551,360 from last year’s net income of $48,149.

Nick told the board budgeted city operational expenses are under budget by $28,931 year to date. Total operational expenses for the period were $1,564,807, covered by a city contribution of $1,000,000 (about 64 percent) and a Lerner contribution of $561,596 (about 36 percent). He listed event profits in August as follows: the Bridal performance, $2,657.70; the Leroy Robinson Soul Musical and Soul Festival, $4,883.57; and the DMC Mental Health Expo, $148.76.

Nick said events have been slower year to date but that his communication with Director of Events and Finance Bob Garcia indicates an uptick in scheduled events is expected later in the year. The board moved to accept the treasurer’s report and placed it on record by voice vote; the transcript records “Aye” and adoption but does not provide a roll‑call tally.

The transcript does not supply department‑level line‑item detail, contingency balances, or updated projections beyond the figures Nick gave on the record.