CIB Approves Self Budget Cuts

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(INDIANAPOLIS) - Looking within first, the Capital Improvement Board approved cuts in the operating budget for the Indiana Convention Center.

The cuts are about 8-percent of the board's operating budget targeted for reduction, which amounts to $5.8 million dollars. The cuts are in areas of staffing, supplies, renovations and repairs, and other services like advertising, utilities, and insurance.

CIB President Bob Grand says this round of cuts is just the beginning, but illustrates how committed the board is to bringing its operating budget back in the black.

Grand says they have had dialogue will several stakeholders like the Colts and Pacers but will sit down directly with them to discuss what more can be done. Grand says other organizations who are the recipients of grant funding, like the Black Expo and the Indiana Sports Corporation will also be in conversations on reducing grant amounts.

Grand added with great emphasis, property taxes can not and will not be used by the Capital Improvements Board.

Grand says other fees and taxes that are used by the board will certainly be considered, but says its too soon to commit to an absolute increase.

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