Tuesday, May 15, 2007
The Chevrolet Centre released its 2006-07 second quarter financial report showing a profit far less than the amount projected by Global Entertainment Corp., the company that manages the city-owned arena. Here are Global’s projected and actual profit/loss amounts.
1st fiscal year (October 2005 to September 2006):
Projected: $652,264 profit
Actual: $23,653 loss
2nd fiscal year
1st quarter (October to December 2006)
Projected: $356,446 profit
Actual: $144,323 profit
2nd quarter (January to March 2007)
Projected: $458,564 profit
Actual: $27,440 profit
3rd quarter (April to June 2007)
Projected: $88,424 loss
4th quarter (July to September 2007)
Projected: $96,632
Sources: Global Entertainment Corp., Youngstown city finance department