Jan 14, 2014 at 7:55 am
The alerus center has gone from red ink to being in the black in recent years. The net result is the events building has built up a big budget reserve – estimated at one-point two million dollars. Alerus officials say they’re reached a point where they can begin looking at repaying the city of grand forks for past loans to the tune of over one-million dollars. several council members say it’s more important to keep the cash on hand for the building to invest in future needs. Councilman terry bjerke says repaying the loan is important as well.
new revenues and events combined with a reduction in expenses have been a boon to the building’s bottom line. finance officials are working on a plan that allows the alerus to maintain a healthy cash reserve while paying a portion of the profits back to the city each year.
knox / Doug Barrett