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Seniors Games finish with $15K surplus
Burnaby organizers of the 2012 BC Seniors Games finished $15,565 in the black.
After a final audit expected in mid-December, half of that amount, or $7,783, will be given to the BC Seniors Games Society to fund future games, with the rest to be put towards seniors amenities in Burnaby, according to a city staff report.
The Games organizers raised more than $547,000 in revenues of which 36 per cent came from registration fees from participants. Sponsorships from corporate and individual donors accounted for 29 per cent of revenue, while the provincial government (through the BC Seniors Games Society) contributed 19 per cent, or $105,000, and the City of Burnaby committed to funding $55,000, or 10 per cent.
A variety of other funding sources, including donations, sales and grants made up the remaining six per cent.
The revenue generated "significantly exceeds" the budget estimate included in the organizing committee's original bid for the Games, the report said. That's due to sponsorship revenue exceeding expectations and the number of participants being more than expected.
Total expenditures for the event were more than $531,000. Of that, 38 per cent was spent on securing venues, including city-owned facilities, Burnaby Mountain and Byrne Creek secondary schools, Burnaby Firefighters Hall and Royal City Curling Club.
Administration of the Games, including office space, temporary office staff and equipment rental, took up 22 per cent of the costs. Other major costs included the gala banquet, sponsor recognition events, signage and printing.
The Games were held Aug. 21 to 26 and drew almost 4,000 participants from across the province who competed in 28 events.