While the Manchester-Coffee County Conference Center suffered a net operating loss of nearly $340,000 in Fiscal Year 2019, the center’s management notes the facility’s benefits outweigh the expenses.
The Tennessee Comptroller of the Treasury recently released the audit report of the Public Building Authority (PBA) for FY2019. PBA owns and manages the Manchester-Coffee County Conference Center. Coffee County and Manchester City equally cover the center’s operating costs.
According to information provided to the auditors by PBA, management believes the Center’s financial condition is strong. The Center strives to stay within budget and has created more stringent financial standard operating procedures and guidelines set by the Public Building Authority Board and Management.
The center generates significant hotel/motel and transient tax revenue for the City of Manchester and Coffee County. Coffee County recently implemented a 2.5% hotel tax that’s collected countywide. Manchester City’s tax rate is 6%, and Tullahoma City’s rate is 5%.
Hotel tax revenues and total spending per guest are not credited to the center’s operational budget, thus showing the economic impact to be a burden on the tax base instead of considering the total impact of approximately $5 million economic impact to the local area, according to the PBA.
The center hosted 334 events, 95 events from groups outside of Coffee County, with a total count of 44,634 annual visitors, according to the PBA.
The center directly contributed to 4,809 hotel rooms in FY2019, with the average daily spending per person $128, according to the PBA.