Peoria Civic Center Authority

The committee reviewed the financial statements from February, highlighting increased income across several categories including event attendance, parking, and contracted services. The meeting included an announcement regarding the resignation of a committee member, updates on DCEO grant implementation, capital projects, and a status report on A/R aging. Additionally, the committee acted upon and approved a funding request from the Illinois Association of FFA for their 2028-2031 state conferences.

The committee reviewed the financial statements, noting favorable performance in event income, ticket rebates, and parking revenue compared to the budget. Updates were provided regarding the implementation of DCEO grants, capital priorities, and the status of accounts receivable aging. The committee approved and recommended the submission of a funding request for the 2027-2028 IHSA Speech Finals and discussed matters related to Legends Global Initiatives and Services for further board action.

The committee reviewed the financial statements for November and December 2025, noting variations in event income and net income. Discussions included updates on DCEO grant implementation, capital priorities, accounts receivable aging, and budget allocations for the Arcade and Ice Plant. The committee approved a funding request for the 2027-2029 IASA Annual Conference and authorized submissions related to Legends Global initiatives, services, and the service catalog. Additionally, the committee received an update regarding the D&O insurance renewal application.

The Finance Committee reviewed the October 2025 Financial Statements, noting that total event income, ticket rebates, parking, adjusted gross income, contracted services, and net income were all up Actual vs Budget, while interest income was down Actual vs Budget. The committee approved the Consent Agenda, which included the October 2025 Finance Committee Minutes and the recommendation to submit the Financial Report to the PCCA. Discussion items included an update on DCEO Grant Implementation, Amendments, and Capital Priorities, and an A/R Aging report. Action items approved for submission to the PCCA Board included funding requests for the 2028 Showstoppers ($4,000), the 2027-2029 IESA Chess Finals ($11,000 annually), and the 2026 Clean Water Celebration ($7,000). The committee also approved ASM expenditures for submission and approved the FY25 Audit/Clifton Larson Allen Report.

Key discussions during the meeting included the presentation of the FY25 audit by Clifton Larson Allen, which resulted in an unmodified (clean) audit opinion, although net operating income decreased due to lower capital contributions. The venue report highlighted a Riley Green concert ranking among the top revenue-generating shows and the successful staging of Illinois Comic-Con. The PACVB report noted securing a new multi-year convention from the Illinois Association of School Administrators and strategic interest in recruiting esports events. Committee reports addressed the upcoming Arcade Renovation Project timeline, anticipating a Guaranteed Maximum Price following a February bid release, and emphasized the urgency of securing a dedicated capital revenue stream due to estimated facility needs of $18--20 million. Legal counsel provided an update on litigation concerning an outstanding balance owed by Skills USA.