VICTORY THEATER SHOWS SUBSTANTIAL LOSS IN 2013

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victoryThe City Of Evansville has posted  substantial losses for the operation of the VICTORY THEATER for 2013.   VENUWORKS reported that the operating income for 2013 the Victory Theatre was $583,206.   They also reported that that the Victory Theater operating expenses for 2013 were $926,263.   The reports cites that the Victory Theatre losses for 2013 was a whooping $343,057.   No explanations were given in the financial report how the financial short falls (losses) were subsidized.  Calls to local VENUWORKS executive  Scott Schoenike  went unanswered.

VENUWORKS 2013 FINANCIALS REPORT FOR VICTORY THEATRE

                                                                 Actual                                    Budget

                                                                   FY2013                                  FY 2013

                                                                     Total  Operating Revenue

     Event Related Revenue                              $507,922                                   $318,248

    Food & Beverage                                            $75,284                                        $40,30

   Total Operating Revenue                          $583,206                           $358,548

                                                                          Total Operating Expense
  Event Related Expenses                               $     121,434                                 $       9,586
   Food & Beverage Expenses                         $        15,386                                 $       8,588
    Personnel Full & Part Time                         $    290,806                                 $   279,749
     Personnel Taxes & Benefits                         $      48,818                                  $     63,082
      Operating Expenses                                      $     236,118                                  $   152,696
       Utilities                                                            $      216,701                                 $   214,300
       Total Operating Expenses                         $926,263                            $728,001
          Net Operating Profit                                 $(343,057)                           $(369,452)

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11 COMMENTS

  1. What a farce. I guess they idiots will be kicking the Earthcare can down the road tomorrow unless someone gives a few of them a lobotomy.

    • During the Hotel debate, remember that those who were asking for information, questioning, etc. were referred to as abstractionist, etc. etc.etc. Don’t every be concerned that outsiders will pass Evansville by…hell, we must have a reputation of a free-wheeling, care-casting Community….We should consider changing our name to “Suckersville”

      • Meter Maid, you picked a bad day to stop drinking.
        It’s ‘obstructionist’, not ‘abstractionist’.

  2. I looked at the report last night, I was surprised how few concerts have taken place at the victory this year.

  3. I wonder how they managed to be so far off on amounts budgeted. I’m more suspicious of this than I am the Ford Center’s report. As long as the Victory has been in operation, you’d think they could come a lot closer to estimating true costs than they did.

  5. Yes, downtown seems to be were you want to invest your money. Let’s evaluate…if 2013 is a disappointment, wait until you see 2014…the administration is projecting a loss south of 700k for the Victory and nearly the same for the Ford…and of course, we have the Centre, or should I say, the ONB Activity Center, or lack thereof…oh yes, place your bets on “Downtown”

  6. I believe the original estimated cost figure to refurbish the Victory was about $8 million. I believe it eventually came in at about $16 to $18 million. Typical of Evansville.

    I suspect that remodeling cost for the Signature School portion of that facility was included in the costs.

    Are any operating costs for Signature included in the amounts presented in the story?

    I know they did add an entire building to the original Victory project. Yes the project. It would be interesting to see the costs presented in the article laid out in an easily understood fashion.

    At one time it was suggested that they include parking fees for the nearby parking garage to the gross revenue of the Victory. This would have increased the gross revenue reported as part of the basis for compensation to the facility managers. I was told that that idea was dropped when the city found out that it would be a violation of state law to do so.

  7. This, after they killed off any competition for the Ford Center and the Victory from Mesker Amphitheater.

  8. I do know that, as it was explained to me by the parks dept accounting secretary, Roberts Stadium profits carried over to cover the Victory and others that did not carry themselves. So yes Roberts was profitable and now that it is gone, there is no recovery help for the facilities of Evansville that do not stand muster.

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