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Chamber expects revenue shortfall in 2012

Chamber expects revenue shortfall in 2012

October 18th, 2011 in News

In Sunday's front-page story, "Chamber running $150,000 deficit," certain parts of the story were ambiguous, which led to a misleading headline.

The story should have clarified that the Jefferson City Area Chamber of Commerce anticipates a budget shortfall of $150,000 in the 2012 budget. The shortage is due to a reduction in funds from a chamber subsidiary, 21st Century, which can no longer sustain a $300,000 annual contribution.

"The chamber is anticipating that there will be $150,000 less available for the economic development program in 2012," said Randy Allen, chamber president/CEO. "We are currently developing the budget to reflect that reality."

The chamber is not deficit spending this year or in past years and is taking steps to balance next year's budget by increasing revenue and reducing staff, as well as eliminating certain operations.

"We will not pass a deficit budget," Allen said.

The story also should have clarified that the chamber spent, on average, $700,000 annually for the last five years, with $300,000 coming from combined city and county contributions, $300,000 from the chamber subsidy, 21st Century, and $100,000 coming from chamber dues and other revenue generating events.