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Convention Center posts improved pacing; Baker Tilly updates CIB cash flow
Summary
Convention Center staff reported increased event bookings and parking revenue for February and previewed new small self-produced events; Baker Tilly reported a February cash balance near $4.7 million, noted an $89,000 USI insurance expense, and recommended adding $100,000 for brick-and-tuck work to the capital line.
Convention Center staff reported steady sales and stronger pacing relative to last year, and Baker Tilly reviewed short-term cash-flow details for the Vigo County CIB.
Convention Center staff (Convention Center Manager (S8)) said February included 13 events totaling about 13 days, roughly 1,500 attendees, and approximately $109,000 in gross revenue from events and parking. The center reported 21 definite events totaling about $117,000, 53 tentative leads with potential revenue of roughly $625,000 and more than 2,000 hotel room nights in the pipeline. Staff described operations work (inventory reconciliation, small wares) and a parking-garage software upgrade that enables barcode and phone-based access for monthly parkers.
"We contracted 21 definite events totaling a $117,000," the presenter reported. Staff also highlighted a new self-produced series (Friday Night Flights & Bites, April 17) and a Mother's Day brunch on May 10 as revenue-driving initiatives.
Baker Tilly consultant Kyle Carlson (S2) summarized cash-flow figures: March food-and-beverage distribution was roughly $255,000 (vs. $251,000 in March 2025), the city contribution of $250,000 had been received in March, and February cash balance was about $4.7 million. Carlson pointed out a miscellaneous February expense of about $89,000 for USI insurance and suggested adding $100,000 for brick and tuck work to the available capital line, then rounding that line to $500,000 to preserve roughly $400,000 for roof work.
Board members agreed to follow up on projected bond capacity and longer-term capital needs when considering larger projects such as theater renovations or athletic facilities. Staff will incorporate the agreed $100,000 brick/tuck addition in next month's cash-flow materials and continue tracking event leads and hotel room nights.
Next steps: staff to update cash-flow materials with the brick/tuck adjustment and continue sales outreach; Baker Tilly to provide refined bonding scenarios in follow-up.
