Convention authority passes budget without discussion

The Las Vegas Convention and Visitors Authority on Thursday passed its budget for the year starting July 1 with no discussion.

The plan calls for revenues to increase by 1.8 percent from this year to $217.8 million, based on the expectation of a modest recovery that many resort operators expect. About 80 percent of the authority’s funding comes from hotel room taxes and gaming fees, while almost all of the rest comes from renting its convention facilities.

The spending on daily activities will run $178.4 million, a 2.2 percent decrease from this year and 17 percent lower than 2008. Another $49.6 million has been allocated for debt service.

This will leave the authority with a fund balance of $7.8 million next June 30, down by nearly half from the $14.4 million this year. The fund balance acts as a cushion in case of disappointing revenues or unexpected spending.

A representative of the Service Employees International Union, which has organized some authority employees, said the budget eliminated 46 union positions and replaced them with part-timers. The union has filed for arbitration over this, claiming it violates their contract.