Council approves the 2026/27 Amarillo-Potter Events Venue District budget, 5-0, with $710,000 for Civic Center improvements

A September 15, 2026 memo from the Chief Financial Officer says the Amarillo-Potter Events Venue District budget projects $5,131,118 in revenue, including $1,387,651 in vehicle rental tax and $3,070,367 in hotel occupancy tax. Major expenditures are $785,000 in debt service, the Amarillo National Center management contract (including insurance) of $750,000, the Civic Center management contract of $398,004, and facility improvements of $1,694,500 for the Amarillo National Center and $710,000 for the Civic Center (packet p. 314). ^[1]

The memo estimates the district's available fund balance at September 30, 2027 at $7,704,228: a $500,000 targeted reserve, $4,383,340 for the Amarillo National Center and $2,820,888 for the Civic Center, "calculated based on the 60/40 split of the original project." It says those facility reserves "have historically been available to fund facility improvements or events." ^[1]

The memo lists two outstanding district debt issues: Special Tax and Lease Revenue Refunding Bonds, Series 2016, with $3,865,000 outstanding, final maturity November 15, 2045 and a 2.963% true interest cost; and Series 2021, with $1,710,000 outstanding, final maturity November 15, 2051 and a 1.316% true interest cost. ^[1]

Draft minutes of September 22, 2026 (in the October 13 agenda packet, for approval) record that Councilmember Tipps first moved to adopt Resolution No. 09-22-26-1, then amended his motion; Resolution No. 09-22-26-3 was adopted 5-0 on his motion seconded by Councilmember Prescott. Chief Financial Officer Lola Ogunremi presented the item. The transmittal memo says the Venue District board approved the budget August 24, 2026 and the Potter County Commissioners Court approved it September 14, 2026. ^[2][1]

The Amarillo-Potter Events Venue District's account registers (fund FD9230) list 208 supplier payments to Amarillo Tri-State Exposition from January 9, 2025 through July 30, 2026, totaling $2,764,961.19, plus two ad hoc payments of $12,196.11 and $41,666.67 on December 19 and 23, 2024 (together $2,818,823.97; sums computed). Twenty of the payments, from December 23, 2024 through July 9, 2026, are for $41,666.67 each; the largest single payments are $345,665 on July 7, 2025, $123,507.98 on September 2, 2025 and $121,912 on July 3, 2025. One Tri-State row, on April 1, 2025, carries $26,464 in the deposit column. The registers do not describe what the payments are for. The district's 2026/27 budget lists a $750,000 Amarillo National Center management contract, including insurance. ^{[3][4][5][6][7][8][9][10][11][12][13][1]}

The same registers list 19 payments of $33,167 to "General Fund" from January 16, 2025 through July 9, 2026 ($630,173 in all; sum computed), and two entries on May 12, 2026 coded "Bond Interest Payments" ($66,250 and $19,900). Other large outflows are recorded as ad hoc bank transactions without a description: $68,200 and $23,462.50 on May 8, 2025, and $475,000, $130,000, $68,200 and $23,462.50 on November 13, 2025. Smaller payments went to Highland Market Research ($22,500), CMMS CPAs & Advisors ($10,161.25), CliftonLarsonAllen ($8,575) and Hilltop Securities ($4,330). ^{[3][5][11][13]}

In March 2025 venue district President Terry Wright "discussed the use of event development money for the Civic Center (similar to the Tri-State)"; the minutes state that the "Civic Center gets $398,000 for the management contract but nothing for event development at this time." ^[14]