City of St Augustine Comptroller, Mark Litzinger, reported to Historic City News that, largely because of a huge underestimation of revenue from concertgoers who purchased wristbands to ride the shuttle, the overall financial loss to taxpayers, who underwrote the Mumford concert, was significantly less than the $56,400 loss originally expected.
The figures are still preliminary. Litzinger told Historic City News last week that he was waiting to release the figures until the concert promoter, AC Entertainment, agreed on the exact amounts of money that are owed.
“They owe us some money and we owe them some money,” Litzinger said of the promoter. “The problem is we owe them for things like fencing and bathrooms, and they owe us for things.”
Litzinger told us Monday, “I would prefer to send them one correct invoice of the balance.” He explained, “I’m hoping to get something from them in the next couple of days.”
Today, Litzinger said, “The city is in settlement regarding a few invoices that is not expected to have any material effect on the final report.” On total revenue of $526,390, the city spent $533,966 — losing an estimated $7,576 on operations.
Bed tax money, to the tune of $129,485, gave the city a cushion for its transportation expenses during the Gentlemen of the Road Stopover event, held at Francis Field, September 13 and 14.
Other revenues came from the sale of shuttle passes; which generated an unexpected windfall of over $300,000, plus an additional $96,583 in fees associated with the use of Francis Field. Unfortunately, the underestimated revenue was largely offset by an underestimated expense to actually provide the transportation and parking services.