Fiscal Year 2025 Detailed Budget for Grand River Center Copyrighted
May 20, 2024
City of Dubuque Consent Items # 07.
City Council Meeting
ITEM TITLE: Fiscal Year 2025 Detailed Budget for Grand River Center
SUM MARY: City Manager submitting the detailed FY 2025 Budget for the Grand
River Center as provided by OVG360.
SUGGESTED Suggested Disposition: Receive and File
DISPOSITION:
ATTACHMENTS:
Description Type
MVM Memo City Manager Memo
Staff Memo Staff Memo
FY 2025 Grand River Center Budget Supporting Documentation
Dubuque
THE CITY QF �
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TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Fiscal Year 2025 Detailed Budget for Grand River Center
DATE: May 13, 2024
Leisure Services Director Marie Ware is submitting the detailed FY 2025 Budget for the
Grand River Center as provided by OVG360.
The management agreement with OVG360 to manage the facility requires that a
detailed budget be submitted to the City. General Manager Ryan Bonifas has provided
detailed budget and insights into the budget. The budget proposed is within the FY25
budget expense for Grand River Center recently approved by the City Council.
v
Mic ael C. Van Milligen
MCVM:sv
Attachment
cc: Crenna Brumwell, City Attorney
Cori Burbach, Assistant City Manager
Marie Ware, Leisure Services Director
Dubuque
THE CITY OF �
uhllnenc�Cit�
Du B E �n�,,����a:�
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Masterpiece on tl�e Mississippi �°'-z°iz
2013•2017
TO: Michael C. Van Milligen, City Manager
FROM: Marie L. Ware, Leisure Services Manager
SUBJECT: Fiscal Year 2025 Detailed Budget for Grand River Center
DATE: May 4, 2024
INTRODUCTION
The purpose of this memorandum is to request City Council to receive and file the
detailed Fiscal Year 2025 Budget for the Grand River Center.
DISCUSSION
The management agreement with OVG360 to manage the facility requires that a
detailed budget be submitted to the City. General Manager Ryan Bonifas has provided
detailed budget and insights into the budget. The budget proposed is within the FY25
budget expense for Grand River Center recently approved by the City Council.
RECOMMENDATION
I respectfully request the City Council receive and file the detailed FY 2025 Budget for
the Grand River Center submitted by OVG360.
attachment: Grand River Center FY 25 Budget
cc: Ryan Bonifas, General Manager
Jenny Larson, Chief Financial Officer
Brian DeMoss, Finance Manager
Jared Charland, Project and Facilities Manager
,. I` �_- � GRAND RIV�R GENT�R
[7Ft.�1ND E`]1'Cfl(_�:tiTET: VG ���
500 Bell 5treet � Dubuqus, lowa 52pp1
T: 563.690.4504
Date: �pri18,2024
To: Marie Ware,Leisure Se�vices Manager,Jeniry Larson,Cllief F'ula»cial OFfcer
From: Ryan Bonifas, General Manager
Subject: Grand Rir�er Center 2025 Proposed B�idget
Intraduction
For the fiscal year 2025,the budget reflects a tl�orough assessment of preva[ling ecanomic conditions and vario«s c�irect
and ind'n-ect factors ii�f]uencing o�erations at the Gi�and Ri�er Center.Amidst the fiansition f�•om previous management to
the current teana,o�u•venue continues to na�igate cha[lenges,which are acknowledged in this b�idget.
Factors such as tile past narrative of the Grand River C�nter,absence of airpo��t op�rations in Dubuque,and the angoing
decluie of the connecting Grand Harbor Hotel, have inevit�bly impacted our projected event nuE�lbe�'s for the upcoming
year.Compounded by tl�e booEci»b lag inherited from previous ma�lagement,has res�Elted in a decrease in canfinned events.
Furthermore, Dubuc�ue's persistent[y low unemployment rate of 2% poses stafFulg challeE�ges, necessitating the use of
third-party contracted services,atzd su6seq�tently d�iving up laboj-costs.This,cambined witE�general iilflationaey pressures
ha�e fi.Erther elevated aur vtdirect expenses.
Despite the challenges heyond our immediate contt•o1,we maintain a steadfast optirr►isin and a�iticipate positive growth i��
the coming years.
Remarks from Travel Dubu ue
Travel Dr�buque is diligently st��iviaig to bolster meeting bi�sir�ess,thereby ma�nizing the utilizat�on of the Grand Ri�er
Center,and optimizing hatel occupancy thraughout the city.Collaborating seamlessly witil the dedicated team at OVG360
for over a year has brotigl�t about transformat��e results.Tha�iks to their innovative vision,ou�-consistent comm�inication,
and synergistic efforts,we're witnessing remarkable developments at the center that promise to shape a prasperous future.
Despite the challenge posed by the absence of air cannecti�ity, which is crucial for attracti��g spea[cers and conference
attendees, we've devised inventive solutions, Proposals often ulcorpo�•ate shutt[e services fi�om i�earby airports i��to
Dubuque, yet larger g��oups are g-�-avitating towards destinations with direct a'u�line connections, minimizing travel time.
Ne�e�theless, we persist in offering community incentives, both in-kind a�id through cash sponsorship, to incentivize
bookings in D�ibuque.
Targeted campai�is are uttdertvay tlu'ougltout 2024, focusing on key markets such as Madison, Wl,Cl�icago,II,and Des
Moines,with the aim of generating more business within a manageable 3—3.5-haur drive for•attendees from 2025 to 2428.
Despite cun-ent limitations ii� business duting tl�ese years, we're actively canverting proposals into confirmed bookings,
as opportu�tities within our region continue to grow, we eagerly anticipate fi�r�her praspects for securing business at the
Grand River Center.
--T -�' � � GRAND RIVER CE{�TER
[-�R.1�D �'`i1'�I���N��i� V G �v� 500 �ell Strest � Duhuque, lowa 52001
T: 563.690.4560
�
Gross Revenue antl Event Expense
For the u�com ing fisca[year,we are projecting Gross Revei�ue to increase by$1 b7,&42.00 over the fisca!year 2024 budget
($2,592,429.00 FY 2025 versus$2,424,827.00 FY 2024). Despite a decrease i.a� the cl�i�nber of evecits by 13 (181 in FY
2025 versus 194 in FY 202�), decrease in attendance of 38,724(A3,700 in FY 2025 verses 82,424 i��FY 2024)and ]oss
of an approxin�a#e�r�inimum of$$7,404.04 in r�venue due to the adjacent hotel significa��t progress has been made. This
was accomplished througt� strategic increases ii�r•evenue categozy perceE�tages, passed on to tl�e ciisto�ners, aloiig with a
deliberate focus oi� bool:i�lg higher-margi« events. The e�ent mix is projected to be stro��g for�he upcorr�ing year ti�it��
Banqi�ets at 29%, Meetnlgs at 29% and Weddings at 23% of tlle total. A number of large eve�fts are expected to be
rebooked in the ne�yeaE�such as Dupaco Con�munity Credit Union and Bard Materials in addition to new events such as
tl�e Avery Foundation Founder's Gala_ Upcoming Trav�i Dubuqua secuE-ed events ha�e included events such as Iowa
League of Cities,Cu•cle Wiscoclsin, Iowa Knighfs of Cotumbus&kl�e Open Air Classic XVIII.
Even with these adjustments, event espenses are still projected at 23%. This achievement is owed to our effect�ve
leveraguag of natianwide acco�ult pricing discounts fi�on�the Oalc View Grot�p team, as well as 1-igorous cost motlitoring
procedures.
Indirect Expenses
For fiscal yev� 2025, [ndirect ExpeE�ses are projected to be highe�� �han the previous year budget by $263,184.00
{$2,865,612.00 FY 2025 versus$2,602,42$.00 FY 2024)mainly due to the following Categories:
The administrative tean�s are divided up �ntn the following categories and fiill-time positions; the Exec�iti�e department
coitsists of a Genet'al Manager and O�ce Manager.The Finance depart�nent consis#s af the D�rector of Finance.The Sales
& Marketing departmen� includes the Director of Sales & Marketir�g, Sales Manager, Express Sales Manager and
Ma�-keting/Sales Coorduiator.The Event Se�vices department incit�des the Dir•ector of Events a��d Maa�ager of Events.The
Operations Departmer�t ulclfides the Director of Operations,O�erations Manager,Maintenance Lead and Setup Manager.
The Food and Beverage depa�-�nent consists of the Director of�'ood and BeveragelExecutive Chef,�xecutive Sous Chef
and Banquet Manager,
in the upcoming fiscal year, we are enhancing our team structure by transitioning the part-�ime Marketing Coordinator
role into a fiill-time position as a Ma�•keting/Sales Coordinator. This strategic decision underscores oiir commitinent to
bolstering our marking initiatives a�ld inte►isifying o�r facus on lease space at the Grand River Center for additianal events.
In addition,we are reassigning the pac-t-time AV Tech role to a part-time Maintenance Tech position.This shift wiil enable
us to prioiitize the overa[I needs oFthe venue,maintaining consistent aesthetics and fi�nctioa�afity througliout.
Personnel Expenses incl«ding benefits increase as staffing conti�lues to be probler�iatic with the current unemplayment
rat�fo►�the local area.Various de�aa�nents will also contain part-time help and cont�•act labor as Eleeded which wages are
estimated at$536,461.04 for•the upcomuig year. This was offset by a slight decrease in the aggregate of all o#Iler Qperating
Expenses which are down $26,9$2.Q0 ($1,036,66$.00 FY 2025 �ersus $1,063,650.00 FY 2024) as a result of spending
monitoring and cost cutting procedures.
— i' � � GRAND RIVER CENFER
L-T�:��i❑ ���1'r���{l��i � ��� V ■ V ��o
500 Bel! Street I Dubuque, lowa 52041
T: 563.69d.4500
Ut�lities are expected to decrease by $37,411.00 ($321,$05.00 FY 2025 versus $359,2i5.00 FY 2024) which is mainly
drivea� by the elect�-icity and the savii�gs is projected to be realized by l��e curreaat equi��nex�t z•epau•s aE1d modifications
alo»g with usage manitoring.
For the upcoaning year,Buildin�/�,quipzner�dHVAC Repaia•s is up by$11,154.00{$94,154.00 T'Y 2025 versus$83,400.00
FY 2024)mainly due to the age of'the b�iilding and the transition fram the previous manage�nent company.
Net Income
Based ou the above factors, Net I�icome is pro�ected at $(799,78b.00) whicl� is up from the prior year budget of
$(691,230.00)by$(1Q8,756.00).
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GRAND R[VER CEN7EF2
ANNUAL BUDGET 2025
INCOME S7A7EME.I�Y 2025 BUDG�T
BUDGET PROPOSAL VS
OVG ORIGINAL 2024 BUDGET
FY 2025 FY 2424 VARIANC�
BIfDGE7 BUDGET FAVI(UNFAV]
#OF EVENTS 'i81 194 ('�3)
ATTEIVDANCE 43,700 82,424 (38,724)
DIRECT EVE�IT REVENUE
RENTAL REVENUE 195,353 968,Q41 27,312
SERVICE REVENUE $2,693 351,126 (268,513)
TOTAI. bIRECT EVENT R�V�,NUE 277,96fi 519,167 (241,2�1J
ANCfLLARY REVENUE
FQpD AND BEVERAGE REVENU� 2,239,425 1,705,fi49 533,776
A�JDIO-VISUAL REVENUE 69,2$$ 142,'19'1 (72,823)
D�CORATOR SERVICES R�V�i�fUE - 15,fl00 (95,000)
TOTAL ANCILLAfZY REVEIVUE 2,3Q8,713 1,862,7fi0 Q45,953
707AL EVENT' R�V�NUE 2,586,679 2,381,927 2D4,752
OTHER REVENUE 5,750 42,900 (37,150)
TOTAL GROSS REVENIJE 2,592,429 2,424,827 1fi7,642
EVENT EXPENSE
SERVICE EXPENSE {100,812} (94,250) (6,5fi2)
FOOD & BEVERAGE EXPENSE (425,992) (392,299) {33,693)
AUDIO-V15lJAL EXPENSE - (25,5$p) 25,580
DECORATOR SERVICES EXP�NSE - (1,500) 1,5Q0
TOTAL EVENT EXPENSE (526,804) (513,629) (43,174
TOTAL EVENT INCOME 2,Q59,875 1,868,298 191,57$
TOTAL INCOME WITH OTNER REVENUE 2,065,625 1,911,198 154,428
IHDIRECT EXPENSES
pERSO�fNEL EXPENSE 1,$28,944 1,538,778 (Z90,966)
OTHER OPERATING EXPE�f5� 1,036,66$ 1,fl63,650 26,982
EXECLfTIVE 243,765 199,2$5 (44,480)
FiNANCE 155,460 145,044 (10,416)
EVEIVT SERVICES 194,571 173,044 (21,526)
SALES& MARKETING 338,573 301,588 (36,985}
OP�RATIONS 519,647 480,158 (39,491}
FOOD& BEVERAGE 687,617 57D,387 (117,230)
OVERH�AD 725,979 727,923 1,945
TRANSiTION - 5,000 S,Opp
TOTAL INDIRECT EXPENSES 2,865,612 2,642,428 (263,184J
NET INGOME!(SLIBSIDY) [799,986) (691,230] {108,756)
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