Festa future looks rosy

THE financial future of Geelong’s largest multicultural event, the Pako Festa, is sound meaning it will continue “well into the future”, the chief of the organisation behind the event says.

Acting Diversitat CEO Brian McMahon said the event in Geelong West on Saturday cost $350,000 to organise and operate.

“This is the 38th Pako Festa. It has stood the test of time and we will be continuing well into the future,” Mr McMahon, who is the organisation’s financial controller, said.

Diversitat, a not-for-profit charity, has come under financial pressure in recent years due to rising security costs because of public event regulation changes and higher staff costs.

Mr McMahon said the 2020 event was funded by $100,000 from corporate sponsors, site fees and donations, in addition to $150,000 from the State Government and $100,000 from the City of Greater Geelong.

“The State Government contribution is $150,000 annually until 2023,” he said.

“We as an organisation are committed to it, certainly the State Government contribution until 2023 was a massive piece of security.

“It’s often very challenging: regulations and requirements, quite rightly because you have to ensure safety.”

Geelong MP Christine Couzens said the event showed the State Government’s support of multiculturalism.

“This event highlights how supportive we are of our multicultural communities,” she said.

Geelong Major Events estimates Pako Festa delivers an economic benefit to the region of more than $5 million.

Last year Diversitat asked Geelong’s council to increase its funding for the event to $150,000 annually for three years to match state funding.

At the time a council report noted there was “no strong justification for the large increase in funding”.

Days later councillors voted to boost support for Pako Festa from this year by giving Diversitat $100,000 annually until 2022.

The decision increased council’s input from $72,000 in 2019.

City Hall has contributed money to Pako Festa for more than 18 years.

Pako Festa will mark its 40th anniversary in 2022.