Salt Lake County header
File #: 23-0959    Version: 1 Name:
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.
Attachments: 1. Staff Report, 2. 30316 - SPCC 2023 YE Revenue and Expense True Up

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