Alerus Center management budgeted a $60,000 loss for the beginning of the year, but the facility has had a $184,000 profit for the first two months of 2012.
"The majority is from events, but also a little luck," said Cheryl Swanson, executive director of the events center owned by the city of Grand Forks.
The center's revenue from events was up over the two months, and its expenses were lower because costs such as snow removal and heating were lower during the mild winter months, she said.
Facility management reported financial numbers for the two months at the city Events Center Commission's meeting Tuesday.
Gross revenue for January was $373,233 while the budget projected $247,000. In February, the center brought in $422,934 gross while $367,685 was budgeted.
ADVERTISEMENT
Turnaround?
The Alerus Center's annual expenses have usually exceeded revenue since it was built, by as much as $481,000 in 2008. It lost $49,000 in 2011, according to its unaudited financial report in January.
At the end of February 2011, the center had a year-to-date loss of $93,000, Swanson said.
She hopes the strong start to the year could be part of a turnaround for the facility, but it is hard to base a prediction on two good months.
"You can still have two really, really bad months," she said. "I hope our luck holds out all year."
The center has hosted 131 events in 2012 compared with 112 at this time last year and 90 in 2010.
The center will not be able to host as many events this summer because its arena will not be available as a new artificial turf system is installed. The facility's meeting rooms will still be available during that time.
Events Center Commission member Curt Kreun said many Alerus Center clients have become repeat customers.
ADVERTISEMENT
"Once they get here, they like it and come back and come back," he said.
Reach Bjorke at (701) 780-1117; (800) 477-6572, ext. 117; or send e-mail to cbjorke@gfherald.com .<?i>
