Naming rights factor in budget
Possibly losing its current name is one of the financial pressures facing Wesbild Centre.
The proposed 2013 budget for the multi-use facility inssdicates a $39,275 loss in revenue. Among the factors is the expiration of the Wesbild naming rights contract.
“Our staff are currently investigating that matter,” said Keith Pinkoski, parks planner.
In 2008, Wesbild, a development company, agreed to pay $200,000 over the next five years for naming rights ($40,000 a year).
The contract also called for an additional five-year option for $250,000.
If there is a new naming rights contract, either with Wesbild or another party, those funds would be considered revenue and the budget would be adjusted.
Other factors negatively impacting revenue for 2013 are fewer Vernon Vipers home games, higher utility costs, parking maintenance and a decrease in ice rentals.
The proposed facility budget includes $89,564 in capital items, including concession equipment and audio equipment.
There is $30,000 to replace curbs damaged by snow plows and a number of dead trees.
“It’s a prominent location to have that kind of deterioration,” said director Bob Fleming, who questions what standards for landscaping are being followed.
“Money is being spent to maintain the place but a whole section of trees is dead.”
The proposed 2013 budget calls for Wesbild Centre’s tax requisition to increase 2.6 per cent. But any operating surplus from 2012 will help off-set taxes.