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Finance and management <br />Operating income and expenses lodging tax and general fund contributions. <br />Kittitas Valley Event Center income peaked in 2008 then declined Sources of Income (2008-13)during the economic recession and gradually improved in the years <br />SÌRC€·$1,800,000 <br />$1,600,000 <br />Income -Operating Expense (2008-13)$1,400,000 <br />$400,000 .2008 2009 2010 2011 2012 2013 <br />Year General fund includes <br />$200,000 ,capitalized lease in 2008 <br />so ,,, <br />Events Center County Fair -Other Revenue "Transfers In -General Fund <br />2008 2009 2010 2011 2012 2013 <br />Year Expenseadjusted to exclude The Fair contributes the most revenue followed by the Events <br />sincome -Expense capitalstructure investments Center primarily in the form of short-term facility rentals for off- <br />fair use. <br />Like most fairgrounds and related publicly owned event facilities, <br />earned income from the Event Center is not adequate to fully cover Additional income contributions are required to offset the <br />operating expenses,resulting in an operating deficit that is funded approximately $300,000 per year deficit (after 2008)with about <br />from non-facility related revenues.$100,000 per year coming from lodging tax revenues and $200,000 <br />from the general fund on an annual basis. <br />The primary sources of Event Center funding support are from the <br />lodging tax and general fund.The Events Center has been averaging •The Event Center's cost recovery -has improved from 47%of <br />about a $300,000 operating deficit (+/-10%)since 2009.operating expense in 2008 (excluding structures)to 68%in 2013. <br />•The Event Center experiences a continuing substantial net <br />Sources of income deficit -although revenues have increased from 18%to 35%of <br />allocated expense since 2008 due largely to increased rents rates <br />Sources of earned income for the Events Center come from facility for non-fair,year-round use. <br />rentals,the Fair,and other miscellaneous revenue together with •The Fair generates positive net revenue for the Events <br />contributed or County financial support transferred from the Center -contributing $50,000 to $90,000 net surpluses each year. <br />19