Jacksonville, FL - The new accounting system for Jacksonville’s sports and entertainment events will be put to the following Wednesday night's NBA exhibition game.
Over 9,000 people are estimated to have attended the game, but final ticket sales and revenue amounts have not yet been released, which will provide clarity on whether the event broke even, operated at a loss, or provided the City a profit.
After the 2012 Navy-Marine Corps Classic lost more than $700,000, a committee was formed to review how that happened and determine a system for preventing a similar loss in the future. The changes moved through City Council, and Councilman Matt Schellenberg- who led up the committee- says the NBA preseason game will be the true first test.
“So we can really get an accountability of how the city money is being spent,” Schellenberg says.
The Sports and Entertainment division of the city will be required to submit a full accounting of the event within 60 days, including how much money was spent, where it came from, and any revenue brought in.
“Maybe we’ll make money on it so we can refill some of the coffers,” Schellenberg says.
He’s been given the impression that the event should roughly break even, but says the bigger benefit of the reporting is determining how to possibly improve moving forward.
“We can always go back and see how it was done before, and we can always make improvements,” he says.
He says it’s important to have transparency with these events. Even if they don’t make money, he says they can still be valuable events to put on.