Finance committee approves Coliseum and Convention Center budget for fiscal year 2025–26

The City of Charleston Finance Committee on May 5 approved the proposed fiscal year 2025–26 budget for the Charleston Coliseum and Convention Center.

Staff reported that the Coliseum’s Budget and Rates Committee met multiple times and that the Coliseum board also recommended approval. Present at the committee meeting were Coliseum general manager Patrick Leahy, business manager Betty Tenney and assistant manager Andrew Thompson.

Mister Michaud, staff member, said the traditional city subsidy that had been $900,000 in prior years was reduced to $715,000 in the current fiscal year and the Coliseum’s proposed budget comes in below that $715,000 subsidy level. Michaud also noted the coliseum has scheduled seat replacement from approximately Aug. 14 to Nov. 14, a roughly three-month period during which there will be “very limited activity” in the coliseum and that introduces uncertainty about potential lost events and revenue.

When asked to quantify the impact of the municipal auditorium’s closure on the coliseum budget, Michaud said the effect was “a couple hundred thousand dollars” of loss. The committee moved to approve the resolution and adopted it by voice vote with no recorded opposition. Councilwoman Hoover—who serves on the Coliseum board—was present and participated in the discussion.