Covelli Centre posts small operating surplus

The Covelli Centre turned a modest operating surplus during its first three months of the year.

The center’s operating surplus was $1,991, compared to the $8,291 amount projected by the arena’s management. The center’s management released the figures for the first quarter today.

The center spent about $8,000 last month to add 200 parking spots to the 300 it had, said Eric Ryan, its executive director. It will also spend $15,000 to add 500 more spots on site, he said.

The additional spots — it costs $10 a car to park — should increase the center’s revenue, Ryan said.

Center management had projected an operating deficit of $18,000 for the period between this month and June. But Ryan said today that he expects it to be a profitable quarter highlighted by next week’s Elton John concert.

For the complete story, read Saturday’s Vindicator and Vindy.com