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2 0 1 4 F I N A N C I A L H I G H L I G H T S A N D M A J O R O P E R AT I O N A L R E S U LT S
Jim Walker
Hy Kloc
Chairman
Judy Peavey-Derr
Peter Oliver
Steve Berch
Vice Chair
Secretary
Director
Director
G R E AT E R B O I S E A U D I T O R I U M D I S T R I C T B O A R D O F D I R E C T O R S
Boise Centre Staff
Patrick D. Rice
Executive Director
Cliff Clinger
Director of Marketing
and Sales
Anne Marie Downen
Controller
Stacey Funk
Director of Human Resources
Chris Lockner
Director of Food
and Beverage
Cody Lund
Director of Operations
Members of the Greater Boise Auditorium District Board are publicly
elected officials serving six-year terms with elections held every two
(odd) years. The Board’s role is to provide governance and guidance on
District matters and to oversee the operating entity of the District, Boise Centre.
A B R I E F H I S T O RY
Created in June 1959 by an overwhelming show of support from voters,
the Greater Boise Auditorium District is dedicated to promoting
economic activity and growth in the Boise area. Its purpose, as outlined
in Idaho Code, is to “serve the public need and promote the prosperity,
security, and general welfare” of the District’s residents. To that end, the
District is authorized to build, operate, maintain, market and manage
public auditoriums, exhibit halls, convention centers, sports arenas, and
similar facilities.
In 1990, the Greater Boise Auditorium District completed construction
of the Boise Centre on the Grove–the District’s first operating entity
and Idaho’s largest convention facility. Today, it’s simply known as Boise Centre.
OUR MISSION
As the largest convention facility in Idaho, Boise Centre was created
to generate local economic development. We provide the highest level
of quality services with utmost consideration to our clients, guests
and employees while preserving the asset we have been given the
responsibility to operate.
E X E C U T I V E S U M M A RY
Boise Centre is a key contributor to the economic health of the Treasure Valley. Since
opening in 1990, Boise Centre has drawn regional and national conventions and is the
hub for local meetings, community events and gatherings. These bookings remained
consistent throughout the past year. With 189 local events confirmed and 40 conventions
held at Boise Centre, over 120,000 guests passed through our doors.
This vibrant business boosted local sales tax receipts by $540,000 while increasing the
local economy by $18.8 million dollars. Visitors to Boise Centre spend money locally on
lodging, dining, retail, transportation and entertainment. With the recovering economy,
lodging properties within the District experienced a strong year with a rise in demand
and room rates.
To increase our market share in the meetings and events industry, the District Board
of Directors and Boise Centre staff is focused on expanding our current facilities. The
District is partnering with the Gardner Company to build an expansion of 40,000 square
feet of meeting and event space. Expanding Boise Centre will increase the number of
events we hold each year and generate greater economic impact for our community.
Maintaining and enhancing Boise Centre is critical to the business we currently enjoy.
Improvements and upgrades are made each year. In 2014 new kitchen and audiovisual
equipment as well as LCD monitor upgrades were added.
Our industry greatly values technology and Boise Centre continues to be a leader in
wireless Internet and bandwidth capabilities. Our team is proud of our success and
working together with our partners, we look forward to a bright future.
Jim Walker
Patrick D. Rice
Chairman
Executive Director
ECONOMIC BENEFIT TO BOISE AREA
A t t e n d e e s Av e r a g e
Daily Spending*
Non-local:
$251
Local:
$81
*According to 2011 Economic and
Fiscal Impacts of the Boise Centre
Meetings and Conventions study
conducted by Boise State University,
College of Business and Economics.
Boise Centre is Idaho’s largest convention facility and over the past 24
years, the facility has built a reputation for providing excellent service.
As the premier location for meetings, conventions and special events, this
in demand gathering place hosts over 200 events each year serving more
than 120,000 guests.
The economic impact of convention and meeting business at Boise
Centre continues to support the Treasure Valley economy and
generate thousands of dollars in sales tax revenue. Out of town
visitors, attend events at Boise Centre, spend monies at Boise hotels,
retail establishments, area restaurants, transportation, recreation and
entertainment.
The numbers really add up.
In 2014, Boise Centre generated over $18 million dollars in local
economic impact and over $500 thousand dollars in sales tax revenues.
In addition, the District collected $4.8 million dollars in lodging tax
revenues to defray operating costs and to market Boise and Idaho to
potential meetings, tradeshows and conventions.
A U D I T O R I U M D I S T R I C T R O O M TA X R E V E N U E
Record setting hotel room tax revenues in 2014 were the result of
exceptionally high demand and increased lodging rates supported by
that demand. The 2014 revenues represent an increase of 7% over 2013,
which, in itself, was a record setting year and demonstrates continued
strength in the Boise lodging market.
R o o m Ta x a n d G r o w t h
Ye a r O v e r Ye a r :
In four of the last six months of 2014, the average daily hotel room rate
in the Boise area was over $90, which is the highest average rate in the
history of the District.
2013, $4,470,324:
This growth combined with key large conventions and events held in
Boise along with an improving economy have resulted in an enhanced
room tax revenues for the District.
TA X R E V E N U E B Y Y E A R
2014, $4,797,007:
7.3%
8.6%
2012, $4,115,054:
11.5%
EVENT REVIEW
Boise Centre
Sustainability Facts
Diverted 33,542 pounds
of materials from
the landfills.
Donated 2,018 pounds
of food to the Boise
Rescue Mission.
Donated 3,800 wine
bottles for repurposing.
Boise Centre boasts first-class catering services, ongoing sustainability
initiatives and expertly trained staff that provide attention to detail to
every event, within a venue that is continually upgraded to meet our
client’s needs.
This year, over 200 events were held at Boise Centre, attracting more
than 120,000 people to conventions, meetings, tradeshows, fundraisers
and social functions. Our connection to the community remains strong
with diverse events that draw thousands of residents to Boise Centre.
No matter the occasion, a wedding reception, holiday celebration, garden
show or college graduation, we are proud to play an important role in our
vibrant city.
A highlight of the year was the Botany 2014, a four-day international
conference held at Boise Centre, which drew 1,200 visitors from 49 states
and 39 countries. The economic impact of the international conference
was over $1.2 million dollars to our local economy. Many visited Boise for
the first time and extended their trips to include visits to other parts of
the state.
NUMBER OF EVENTS
FINANCIAL HIGHLIGHTS
The Greater Boise Auditorium District is financially sound and selfsustaining using a combination of hotel room taxes and Boise Centre
operating revenues to fund operations, promote economic growth and
serve the public need.
Reserve funds are a part of the District’s financial operating model and
this year’s solid growth, with higher revenues and lower expenses, has
resulted in an increase in reserves for expansion, operations and capital
improvements.
The annual audited financial statements are available at www.boiseauditorium.com/funding/
An increase in
the number of
events and room
tax revenues along
with conservative
fiscal management
contributed to a
s u c c e s s f u l y e a r.
FINANCIAL HIGHLIGHTS-CONDENSED COMBINED
20142013
Current Assets
$ 2 2,249,031 $1 9,208,589
Capital Assets $1 2,688,877
$1 1,995,252
Total Assets $3 4,937,908
$3 1,203,841
Total Liabilities $ 802,605
$ 649,013
Net Position $3 4,135,303
$3 0,554,828
Revenues $ 8,740,142
$ 8,576,183
Expenses $ 5,579,170
$ 5,627,261
R evenues in Excess of Expenses* $3,160,972
$2,948,922
Capital Expenditures $ 263,841
$ 516,946
*Operating expenses are before depreciation and transfers.
In 2015, Boise Centre celebrates
25 years as a leader in the community.
Boise Centre Guest Comments
“
We had rave reviews for the conference this year.
Your team was seamless and on top of everything we needed
and the facilities worked out perfectly.
2014 Idaho Bench Bar Conference
”
“ I want to thank all of the staff at Boise Centre for
making our event run so smoothly. ”
2014 Idaho Medical Association, Annual Meeting
“
We thoroughly enjoyed holding our conference at Boise Centre.
We were very pleased with the quality service Boise Centre staff provided
and the food was delicious.
2014 POWER Engineers
”
P.O. Box 1400 • Boise, ID 83701 • 208.336.8900 • boiseauditorium.com