PUBLIC NOTICE The Greater Boise Auditorium District will hold a Regular Board Meeting on Tuesday, November 20, 2018 at 2 p.m. Boise Centre East Room

Transcription

1 PUBLIC NOTICE The Greater Boise Auditorium District will hold a Regular Board Meeting on Tuesday, November 20, 2018 at 2 p.m. Boise Centre East Room 430

2 GREATER BOISE AUDITORIUM DISTRICT REGULAR BOARD MEETING OF THE BOARD OF DIRECTORS AGENDA November 20, 2018 BOISE CENTRE EAST Room 2:00 p.m. I. Call to Order II. III. Changes or Additions to the Agenda Agenda: A. Chairman s Remarks Jim Walker B. Approval of Minutes i. Regular Minutes October 25, 2018 C. Executive Director s Report Cody Lund Action Item Action Item IV. Other Business: A. Boise Airport Presentation Rebecca Huff B. Approval of 2019 Operational Results and Goals Steve Berch Action Item V. Executive Session: pursuant to Idaho Code (b) To consider the evaluation, dismissal, or disciplining of, or to hear complaints or charges brought against, a public officer, employee, staff member or individual agent, or public-school student. Action Item VI. Adjournment Action Item

3 2019 Board Meeting Dates: January: Tuesday 22 February: Thursday 21 March: Thursday 21 (Audit?) April: Wednesday 24 (Audit?) May: Wednesday 22 June: Tuesday 25 July: Thursday 18 August: Tuesday 20 September: Tuesday 24 (Draft Budget) October: Tuesday 22 (Final Budget) November: Tuesday 19 December: Wednesday 18

4 AGENDA November 20, 2018 BOISE CENTRE EAST Room 2:00 p.m. I. Call to Order II. III. Changes or Additions to the Agenda Agenda: A. Chairman s Remarks Jim Walker B. Approval of Minutes i. Regular Minutes October 25, 2018 C. Executive Director s Report Cody Lund Action Item Action Item IV. Other Business: A. Boise Airport Presentation Rebecca Huff B. Approval of 2019 Operational Results and Goals Steve Berch Action Item V. Executive Session: pursuant to Idaho Code (b) To consider the evaluation, dismissal, or disciplining of, or to hear complaints or charges brought against, a public officer, employee, staff member or individual agent, or public-school student. Action Item VI. Adjournment Action Item 1

5 EXECUTIVE DIRECTOR REPORT OCTOBER 2018 GOALS ACTIVITIES FINANCIAL SERVICE QUALITY FACILITY UTILIZATION ECONOMIC IMPACT 2

6 2018 Rake Up Boise 3

7 GOALS Fiscal Management: Boise Centre Subsidy in 000's Actual-YTD Goal-FYE % Controllable (P&L and CapX) $ 2,523 $ 2,959 85% Fixed (Fees) $ 243 $ % Fixed (Lease Payments)-Not Subsidy $ 1,579 $ 1,722 92% Total $ 4,344 $ 4,969 87% Service Quality Actual-YTD Goal-FYE % Guest Satisfaction Score % Facility Utilization: Events and Event Days* Actual-YTD Goal-FYE % Forecast Number of Events Events: Local % 261 Events: Convention % 70 Events: Total % 331 Event Days Events: Days % 567 4

8 GOALS (CONTINUED) Economic Impact Actual-YTD Goal-FYE % Forecast Dollars (in 000's) $ 20,704 $ 30,800 67% $ 25,900 Attendance by Locality Attendance: Out of Town 22,006 25,000 88% 23,937 Attendance: Local 118, ,500 81% 152,551 Attendance:Total 140, ,500 82% 176,488 5

9 ACTIVITIES New Chandeliers in Boise Centre East to be installed by the end of November Record month for operating revenues missing $1M by $3,000 Pre Audit meetings with Pulliam and Associates; Audit starts January 2019 New insurance carrier is Payne West, effective December 1 Great article in the Boise Lifestyle Magazine about the Boise Centre Culinary Team 6

10 FINANCIAL Revenue and Expense (000 s) Year to Date Revenues 6,862 Expenses 11,116 Revenues>Expenses (4,254) Unaudited Boise Centre District Combined $ $ 7,090 $ 13,952 $ $ 138 $ 11,254 $ $ 6,952 $ 2,698 Budget $ (5,020) $ 6,084 $ 1,064 Variance $ 766 $ 868 $ 1,634 The District and Boise Centre are experiencing a great year! Combined revenues in excess of expenses remain > budget: $1.6 million District: Revenues are over budget and expenses remain under budget 7 Boise Centre: See upcoming slide

11 Auditorium District Tax (in 000 s) Monthly room tax revenues October 2018 exceeded October 2017 by $98K Year to date room tax revenues continue the trend, exceeding budget by $770K, and prior year by $591K Updated forecast: $7.5 million 8

12 Boise Centre Finishing up a great year! Record operating revenues: $997K and third month in 2018 with record revenues Labor and food costs well controlled; operating expenses $108K below budget Operating loss $766K less than budgeted 9

13 Boise Centre Revenues YTD operating revenues are over budget by $1.5 million. First month to exceed ALL historical sales revenue September and October: Two more record months Forecast: $7.5 million 10

14 Cash and Investments (in 000 s) $20.2 million 11

15 Source and Use of Cash(in 000 s) Actual Cash Balances are over budget due to no lease transfers (prefunded from bond proceeds), higher than anticipated revenues, lower than budgeted expenses and higher tax revenues. 12

16 FACILITY UTILIZATION 13

17 Square Foot Usage by Month** Utilization is up from 2017, due to the larger conventions, specifically Pacific Northwest Clean Water with 3,240 attendees (3X the number in 2015) and using both facilities December 2016 decrease is due to lack of available space due to construction June 2017 up due to CSTE July 2018: Comic Con; July 2017: 3 conventions and opening celebration; July 2016 demolished Summit and added ballroom Aug 2018: Fly Fishers Int l Actual Square Footage Target Range* November is Forecast **340 days (excludes federal holidays, the weeks of Christmas and 4th of July.) 14 * Source: 50%-70% based on CSL Feasibility Study, Dec 2017

18 Boise Centre Conventions Rolling 6 years 2018: Goal 60: Confirmed 70 (including 3 Grove Hotel events) / 116% of goal

19 ECONOMIC IMPACT Local Attendance FY Cumulative Goal: 147,500 Cumulative Actual: 118,842 16

20 April: Backcountry Anglers had 2,600 attendees of which 1,500 out of town attendees May: Northwest Public Power Association had 843 (78%) out of town attendees July: Potato Association had 725 (87%) out of town attendees Non-Local Attendance FY Cumulative Cumulative Actual: 22,006 June 2017 had CSTE, 6,875 nonlocal attendees Goal: 25,000 Goal may still be attainable, depending upon non-local attendees for remaining events in

21 Economic Impact FY Cumulative Pacific Northwest Clean Water had 3,240 attendees (830 non-local) with an economic impact of $747K 2018 YTD is trending upwards due to an increase in conventions booking in the year for the year and despite the absence of a similar event such as CSTE (June 2017 which had 7,130 total attendees and an economic impact of $3.3 million) 18

22 Thank you! 19

23 Boise Airport Rebecca Hupp, A.A.E. City of Boise, Airport Director NOVEMBER 2018

24 MAKING BOISE THE MOST LIVABLE CITY IN THE COUNTRY

25 Boise Airport Goals Make Boise the most livable city in the country by providing the aviation infrastructure that attracts the services desired by the community Maximize the airport s role as an economic generator Be a strong community partner

26 Master Plan Update Multi-year planning process to develop forecasts and identify infrastructure needs. Meetings with the Technical Advisory Committee members, elected officials and the public. Forecasts and Airport Layout Plan submitted to FAA for approval.

27 Trends Shaping 2019 Forbes Names Boise 2018 Fastest Growing City Boise, Idaho is enjoying some of the swiftest growth in the country. In 2017, it exceeded expansion expectations by nearly every metric that matters. Its population of around 220,000 grew 3.08% in 2017, more than any other major metro. Employment increased 3.58%, the second strongest growth around. Home prices, a proxy for wealth, increased 11.58%-- number four in the U.S. Meanwhile, wage and the broader economic growth far outpaced national averages. All this earns the city and the surrounding metropolitan area the no. 1 spot on Forbes' 2018 list of America's fastest-growing cities. Moody's Analytics--which provides the data for this annual project--is forecasting that Boise will continue its growth spurt this year, albeit more modestly.

28 2017 Total Passengers Record Year Up 9% over 2016; most passengers ever in a single year (2007: 3,365,303) 3,600,000 Total Passengers 3,513,377 3,400,000 3,200,000 3,000,000 2,978,281 3,230,878 2,800,000 2,600,000 2,612,457 2,753,153 2,400,000 2,200,000 2,000,

29 2018 Total Passengers Through Sept. Up 11% over 2017 Up 41% over ,100,000 Total Passengers 2,900,000 2,868,286 2,700,000 2,591,291 2,500,000 2,396,071 2,300,000 2,100,000 2,032,635 2,190,667 1,900,000 1,700,000 1,500,

30 Passenger Growth: Projected Six Year Growth: 49% 4,000,000 Total Passengers 3,899,848 3,800,000 11% 3,600,000 9% 3,513,377 3,400,000 3,200,000 3,000,000 2,800,000 2,600,000 5% 0% 2,609,816 2,612,457 8% 2,753,153 8% 2,978,281 3,230,878 2,400,000 2,200,000 2,000,

31 Key Projects Identified in Master Plan Idaho Department of Aeronautics relocation Rental car relocation and consolidation Relocate and expand employee parking Concourse A expansion

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34 Terminal Expansion Communication Plan Identify capital project task force Develop project name/identity Create project scope/narrative Define project sequence/schedule

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37 Project Financial Implications Revenue optimization Financial risk and sensitivity analysis Space utilization study Cost analysis & containment

38 Thank You

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