Tuesday, May 12, 2009  
   Volume 79 - Issue 19 Website:www.passherald.ca   email: passherald@shaw.ca   $1.00   
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Quote of the Week
“You’re the stewards, literally, of this land. When you say Crowsnest Pass is small, no, you’re not. You’re absolutely not.”
- Don Johnson  
- on land use in the Pass   

 

 
In January of 2008, when the current squabble over the future of the Crowsnest Centre was just beginning, the Centre board told council that they had a business plan that would see the facility self-sufficient in three years.
According to the Centre’s 2008 statement of profit and loss, released last week, they are two years ahead of schedule.
The Centre board engaged Gus Kollee, former Chief Financial Officer for the municipality, to streamline their accounting system and prepare the financial information for the municipality and its auditors. The financial information was released to the public on Wednesday, May 6.
The information indicates that the Centre made a total of $69,626 in revenue over expenditures before depreciation. This means that the Centre brought in nearly $70,000 more than it spent in 2008.
The total revenue for the Centre in 2008 was $434,585, including a $95,000 operational grant from the municipality. That grant was used to pay off a $35,000 line of credit, with the remainder going toward operations.
The Centre spent $22,402 on legal fees in 2008 as a result of the dispute with council. If that dispute had not taken place, and thus if the legal fees had not needed to be spent, the Centre would have essentially broke even in 2008 even without a municipal grant.
 
The Centre has not asked for, nor received any municipal grant money in 2009.
What this all means is that the Centre showed a 95 percent return on its expenses in 2008 when all municipal involvement, both for grants and for legal fees, are discounted. For comparison, other large municipal facilities, such as the ski hill, the MDM, or the arenas, show a return in the 20-30 percent range.
Breaking down the Centre’s revenues in 2008, the facility brought in approximately $185,000 from accommodations, $27,000 from conferences, $1400 from donations, $16,000 from food and beverage services, and $93,000 in monthly rental income from the facility’s regular tenants.
The Centre spent just over $100,000 in wages to local employees, and just under $70,000 on utilities to heat and power the facility.
In total for 2008, the Centre hosted 334 functions, and had 15 regular lease tenants, including the Chinook Educational Consortium and the Food Bank. According to the Centre board, roughly 70 percent of its bookings bring in revenue from outside the community.
At the May 5 council meeting, Councillor Dean Ward indicated that he wishes to set a date for closing the older wing of the Centre, the wing that houses the regular tenants. Council plans to discuss this at their Committee of the Whole meeting on Tuesday, May 12.
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   Volume 79 - Issue 19 Website:www.passherald.ca   email: passherald@shaw.ca   $1.00   
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