Finance report shows fair revenues concentrated in September; shortfall expected to narrow as events post
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Summary
Preliminary October financials presented Nov. 3 show year‑to‑date revenues of about $1.5 million against $1.8 million in expenses, projections of $4.6M revenue vs. $5.0M expenses for the year, and outstanding invoices of roughly $88,700; board discussed revenue timing and parking revenue reporting.
Finance staff reported preliminary financial figures through October 2025 and discussed timing of revenue recognition and outstanding invoices.
"The financial information reported today is preliminary as all of the revenues and expenses for October 2025 may not have been recorded to the ledgers as of 11/03/2025 when this report was created," the finance presenter said. He reported that year‑to‑date the operation has earned about $1,500,000 and spent about $1,800,000, producing a variance. Depreciation expense reported was $349,287.
Projected annual figures presented were $4.6 million in revenue and approximately $5.0 million in expenses. Division breakdowns showed the flea market and events trailing budget year‑to‑date with expectations that late‑season events—including Christmas Village—will close shortfalls. The divisional fair revenue had an expected spike in September and was reported over budget YTD.
On receivables, staff reported roughly $88,700 in outstanding invoices; finance staff said outstanding promoter invoices and journal entries that have not yet posted will contribute to reducing the reported revenue gap once recorded.
Board members asked whether parking revenue is included in event revenue; finance staff confirmed that parking is included in the individual event categories and agreed to provide a breakout on request for administration review.
No board action was taken; this was an informational budget and operations briefing.