SALT LAKE COUNTY - File #: 23-0959

• File #: 23-0959
• Version: 1
• Type: Discussion Items
• Status: Passed
• File created: 10/4/2023
• In control: County Council
• On agenda: 10/10/2023
• Final action: 10/10/2023
• Title: Budget Adjustment: The Salt Palace Convention Center requests to true up their revenue budget by $3.2M, of which $3M will be used to cover associated expenditures.

Date	Ver.	Action By	Action	Result
10/10/2023	1	County Council	approved	Pass

Requested Agenda Date:

10/10/2023

Requested Agenda Title:

Title

Budget Adjustment: The Salt Palace Convention Center requests to true up their revenue budget by $3.2M, of which $3M will be used to cover associated expenditures.

Body

Requested Agenda Item Description: To be an economic magnet to Salt Lake County by hosting conventions, trade shows, meeting, public events and managing the County's world-class conventions, exhibition, trade show and meeting facilities.

Increased revenues have resulted in increased variable expenses. New revenue and expense 2023 YE adjustment reflects a forecasted net improvement in subsidy.

Requested Action: Discussion - Vote Needed

Presenter(s) (with titles): Hoa Nguyen, Council Budget and Policy Analyst  

Time Needed: Less than 5 MINS

Is this Item Time-Sensitive and/or Requesting a Time-Certain? No

Requesting Staff Member: Josh Ambrose, Director of Finance-ASM Global

Are Supporting Documents Needed for this Agenda Item Request? Yes