Timmins Mayor Steve Black thinks this year’s Stars and Thunder lost money.
Black posted on Facebook that even though he believes the eight-day festival was a success for community spirit, it also lost some money. Black says by his personal calculations, he anticipates a $1.6 to $1.8-million shortfall for the city. He says this this year’s festival sold half the amount of tickets that sold last year.
He says if you divided the projected deficit among every tax bill in the city, it would cost each household about $90. Black says this will not fall on the taxpayers, but instead come out of city reserves.
Black says if the newly elected council decides to do the festival again, some changes need to be made to improve finances. He says this could include trimming the festival to four days.
The finance chair will be giving an update to council tomorrow night. Not all the bills for the festival have been paid and not all the revenues are calculated. The city will provide more updates when these numbers are in.