Intrust Bank Arena made $2 million and change in its first year, unaudited figures show.
"What a wonderful outcome for 2010," assistant Sedgwick County manager Ron Holt told commissioners Wednesday.
While celebrating the arena's first year, Holt cautioned commissioners that 2011 is "not going to be quite the 2010."
Arenas typically experience a "honeymoon" period, Holt has said, and although he expects a good year this year, he has warned it likely won't compete with the inaugural year.
The arena hosted 119 performances last year. There were 80 concerts, family shows, sporting events, hockey games and other events.
The arena's gross building income was about $7 million. Expenses were about $5 million.
That leaves net building income of about $2 million.
Those figures do not include depreciation.
Under the county's contract with SMG, the private company that manages the arena, SMG keeps the first $450,000 of profit. The county keeps the next $450,000. After that, any profit is split 60/40. The county keeps 60 percent, and SMG keeps 40 percent.
That means the county will get just more than $1.1 million, which will go into the arena's reserve fund. The reserve fund — set aside for operations and maintenance — was about $14.6 million at the end of the year, Holt said.
That money was what was left from the 30-month, 1 percent sales tax voters approved to build the arena.
Money from that fund also helps support the Kansas Pavilions off I-135 North near 85th Street North. The county had to subsidize pavilion operations with nearly $585,000 last year.
Commissioners said they were happy with the arena's first-year performance, highlighted by concerts by Elton John and Billy Joel, the Eagles, Carrie Underwood, Taylor Swift and George Strait and Reba McEntire.
Chairman Dave Unruh thanked SMG and the community for the arena's success.
"I think this has been a great arrangement for us," Unruh said of the county's contract with SMG.
But Unruh said he had heard several times from members of minority groups, particularly African-Americans, that there hadn't been many — if any — events that appealed to them.
"I'm having a hard time explaining that we'll rent our facility to whoever wants to rent it and we're not trying to decide who comes and who doesn't," Unruh said.
He asked Holt to explain how the process of getting acts to Wichita works.
Holt said promoters "look at the marketplace to see if they're going to bring acts to the community." Promoters — not the county or SMG — decide who plays the arena.
Later, Commissioner Richard Ranzau said he had set up a meeting for Feb. 24 with the local NAACP chapter to talk about events at the arena. Holt and A.J. Boleski, the arena's general manager, also will attend that meeting.
Upcoming events at the arena include Kenny Chesney on April 13, James Taylor on April 30, Tim McGraw on May 19 and Keith Urban on Aug. 16.