Arts centre on firmer footing financially

The City of Kelowna now cuts a cheque four times a year to the Rotary Centre for the Arts.

A switch to quarterly payments has helped the non-profit society that runs the downtown arts complex better manage its finances, city council heard Monday.

“Our biggest challenge was probably cash flow,” RCA general manager Patrick Leblanc told council. “But this year will be our best financial year ever.”

Expectations are a small profit will be turned after the fiscal yearend, and enough money will be left over to pay down an accumulated deficit.

The city gives the RCA an annual grant of $310,00, which equals 26 per cent of the society’s operating budget of $1.2 million.

So-called earned revenue — through things like leases for artist spaces, theatre rentals, catering and bistro profits — generates 71 per cent of the RCA’s budget, council heard.

LeBlanc said that percentage contrasts favourably with a comparable figure of 28 per cent nationally for non-profit societies.

Artists are keen to lease space at the RCA, LeBlanc said, with some waiting as long as three years before the right space becomes available for them.

Just under 23,000 tickets were sold for paid-admission events at the RCA last year, and the total number of people visiting the complex on Cawston Avenue was said to be 270,000.