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Peoria Civic Center reports $875,000 annual loss

Published: Friday, Aug. 29, 2014 11:00 a.m. CDT

PEORIA (AP) — The Peoria Civic Center has reported an annual loss nine times greater than it projected.

General Manager Jim Wetherington says the taxpayer-supported concert venue and convention center lost $875,000 during the fiscal year ending this month. It had originally estimated a $96,000 loss. Attendance was also down by 23 percent compared with the last fiscal year.

The (Peoria) Journal Star reports (http://bit.ly/1ppVfi5 ) the center's board voted Thursday to approve a new three-year contract with a management firm and end a long-standing relationship with a food and beverage service in an effort to save money.

Wetherington says the center has tried to cut costs across the board, which includes the reduction of its staff.

He says the center's reserves have declined from about $2 million to $1.3 million.

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Information from: Journal Star, http://pjstar.com

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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