Fargodome officials expect revenues to beat expenses by more than $80,000 next year, despite hosting fewer high school tournaments and trade shows than in a typical year.
Dome Authority members on Tuesday unanimously approved the 2008 budget, which projects operating revenue of $3,668,879 and expenses of $3,588,390.
The facility's management firm, Global Spectrum, has budgeted for 93 event days with total attendance of 446,800. That's three fewer event days but 700 more attendees than projected in the 2007 budget.
Dome General Manager Rob Sobolik said next year is an off-rotation year for the dome for hosting North Dakota high school tournaments.
The state wrestling tournament and state football championships aren't in Fargo, although the state Class B State Boys Basketball Tournament is here in March. The International Sugarbeet Institute show also rotates to Grand Forks next year.
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Sobolik said events drive the dome's budget, and the facility is holding steady on so-called "speculative" events such as concerts. The 2008 concert outlook remains unchanged from the 2007 budget - six shows with total attendance of 51,000.
"But it's the annual events that we've always said are our bread and butter," he said. "Those are the events that are different for 2008."
"I think we brought forth a very solid budget," he said.
The projected surplus of $80,489 is the smallest budgeted surplus in the dome's 15-year history, the next closest being $80,608 in 2004.
The dome ended that year with an actual surplus of $110,721, beating budget expectations.
Sobolik said the 2008 surplus is based on the current year's budgeted surplus of $128,884. Dome officials now project the facility will end the year short of that mark, with a $110,583 surplus.
Through June, revenues are beating expenses by $406,475, or $123,145 better than budget projections and about $164,000 above figures from the same time last year.
"This is a nice place to be right now," Dome Authority member Erv Inniger said.
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Readers can reach Forum reporter Mike Nowatzki at (701) 241-5528
