La Crosse Center finance report: year-end transfers and surplus exhausted

The La Crosse Center board reviewed December financials and year-end totals, and members were told the center’s surplus has been exhausted after transfers and a large annual payment.

Alex (S3) presented the December financial statement, saying the December room-tax portion received was $96,000 and that total December revenues tallied about $664,497. He noted sponsorships from organizations including Marine Credit Union, Festival Foods and Chick-fil-A and itemized rebates and rental income sources. On expenses, Alex highlighted merchant card processor fees, recruitment costs, event security ($4,000 for events without music) and a large annual payment to JCI.

Board members asked whether the JCI payment is annual; Alex confirmed it is. The payment (discussed in the meeting around $110,000) and transfers totaled approximately $407,656, and presenters reconciled year-end arithmetic to show the center finished the year "under"—figures described in the meeting as $245,106 under before removing the JCI payment and at $135,106 under after accounting for transfers. "Surplus is gone," Alex stated when asked whether money remained in the surplus account.

Jared (S5) reminded the board that room-tax reporting lag affects monthly figures (roughly a 60-day lag), and said the full-year room-tax total ended around $518,000. Board members asked follow-up questions about how shortfalls in 2026 would be addressed; presenters said staff are working with the finance department to determine required transfer levels and to manage operations to remain in the black where possible.

The review included several clarifications about accounting timing (overpayments on water/sewer corrected, inventory adjustments reducing on-hand inventory by roughly $56,000) and the board agreed to continue discussing finance at upcoming meetings.