Covelli Centre turns first second-quarter profit

YOUNGSTOWN — For the first time since it opened more than four years ago, the city-owned Covelli Centre turned a profit during its April-to-June quarter.

The profit for the past three months was modest, $11,087, but it was only two years ago that the facility, then known as the Chevrolet Centre, had a $205,215 loss for those three months.

Covelli Centre officials had budgeted a $14,906 deficit for this past April, May and June.

The facility’s revenue for the quarter was lower than budgeted, but enough cuts were made to more than off-set that shortfall, said Eric Ryan, the center’s executive director.

The reductions including laying off a secretary and the head of security as well as reductions in part-time workers and its building engineer taking a temporary leave of absence through the summer, Ryan said.

The center also reduced its utilities bills by about $18,000 by simply turning off the air conditioning unit and cutting back on the use of other utilities during times when no events were scheduled, Ryan said.

As of June 30, the center had a $253,423 operating profit. Center officials had budgeted a profit of $91,853 for the first six months of the year.

The center will lose money in this current quarter, July to September, and should turn a profit during the final three months of the year, Ryan said. That would result in an annual operating profit for the center, he said.

For the complete story, read Tuesday’s Vindicator or Vindy.com