|REVISION 2 - October 10, 2017 - Regular Meeting|
Agenda Item #25
Resolution R-17-096 - Bad Debt Write Off
Contact and/or Presenter Information
Contact: Anne Van Wormer, ext 3941
Presenter: Sable Santana, ext 3962
Adoption of Resolution R-17-096 to write off bad debts for accounting purposes only in the amount of $7,337.58 for the Bradenton Area Convention Center for the fiscal year ending September 30, 2017.
- Ordinance 14-38
- Rate Resolution R-15-106, as amended by R-17-075, establishes rates and policies for the Bradenton Area Convention Center and Powel Crosley Estate
- On November 26, 2015 (Thanksgiving night), a concert for the artist “Future” was to take place at the Bradenton Area Convention Center. The set-up was in place and audience (ticket purchasers) were on site. However, due to low audience turn-out, the performer (Future) did not perform.
- Parking, tickets sales, and service charges were refunded to audience members who were on site that evening.
- The initial deposit of $2,225 had already been collected from the Licensee prior to that evening; however, the Licensee refused to take any responsibility for the remaining balance due in the amount of $7,337.58.
- The facility’s charges incurred were staffing, $1,738, and security, $639.
- Prior to the start of the concert, the bar generated approximately $1,647 (after product costs) and the concession commissions generated was $253.54.
- Based on the deposit already received, along with the bar and concession revenues, the facility didn't lose any money. However, the licensee was still responsible for the balance of $7,337.58 for rental of the facility.
- After staff’s many collection attempts, it was turned over to Professional Recovery Consultants for collection services. They were not able to collect the balance.
- Based on our overhead and revenue generated pre-concert, our facility costs were covered.
County Attorney Review
Not Reviewed (No apparent legal issues)
Explanation of Other
Instructions to Board Records
Copy of approval to Eva Galler, Senior Fiscal Analyst, Bradenton Area Convention and Visitor’s Bureau
Cost and Funds Source Account Number and Name
Amount and Frequency of Recurring Costs
Attachment: resolution 17-096 .pdf