Good morning, everyone.

Thank you for being here.

I'd like to call the capital approvements boarding county to order.

This being 9 11, I think it's important that the rest are recognized it's the 25th anniversary of that date.

There'll be people a lot more eloquent than I am here.

We're gonna talk about this today, but I guess two thoughts come to mind.

First, I think we all remain forever grateful to the first responders and to everyone who's helped over the years and continue to help on that uh tragic day.

And then I think we're all pretty grateful in this room uh that we can gather in public spaces, public spaces at the CIB on the public spaces in our community, and they all mean a lot to us, so I'll just say that and get down to this.

So the first item on the agenda is approval of minutes for the month of the first meeting.

So there is second second.

Any opposed?

Okay, thank you.

Next item or report, so we leave with the CIV monthly financial.

Good morning.

Thank you.

Uh July 2026.

Um finished with revenues net of expenses of a negative 1.7 million dollars, uh, which is about $3.6 million less than prior year.

Um there are multiple line items that um make up the that varies.

Um mainly admissions tax line, parts and supplies, field house operating expenses, and capital outlays, um, which I'll go into more detail later.

Um so into the details, tax revenues totaled just under $13 million, um, which is about $600,000 less than prior year, and also the average monthly average.

Um largest variance there is in the admissions tax line, um, which is about $1.8 million less than the prior year.

Um, and that variance is mainly due to the timing variance that we see with how the admissions tax is being paid by one of our partners, um, the Colts.

Um the operating revenue, it was $2.7 million.

Um, and that is less than the prior year by about $1.2 million or $32%.

Um, and that um that unfavorable variance there is uh nearly across the board, and it's um just due to some of the events that we had um this year versus prior year.

Um on the expense side, personal services has a favorable variance, and that is um $218,000 or about 9% versus the prior year.

Um, and mainly that can is in two line items the part-time temporary labor and also the employee medical insurance lines.

Um supplies category um is over uh prior year by 4.2 million dollars, and that is due to the parts and supplies line where we spent about $4.5 million in hotel expenses.

Um some of those expenses were or the larger expenses there were $345,000 we spent on emergency radio communication system, $226,000 on laundry equipment, and then um there were some disputed construction costs that we um uh spent about $3.9 million um there on that.

So um next is other services, and that is $8.3 million dollars, um, which is roughly $3.3 million or $67 million or 67% more than prior year.

Um that unfavorable variance um is likely made up of two line items.

Um we paid 230 million 230,000 dollars in booking fees for the Morgan Wallen um concert, and then also 221,000 to art strategies for hotel art acquisition and consulting.

Um the other line item is miscellaneous rental expenses.

There we paid about six hundred thousand dollars for um equipment rentals for the final four.

Um finally um the prior year um field house operating expenses.

Um that in the prior year was extremely low.

Um this year it was a normal amount, but because the prior year was so low, um there it was low because we had a correction in the prior year due to our capitalization of some technical equipment.

Um so since that was so low it made this um year variants um look different.

Um capital outlay um total six hundred and forty-two thousand dollars, which is extremely low.

It's five point four million dollars less than the prior year.

Um the largest spend that we did have this month was three hundred and eighty-five thousand dollars on the field house fall protection system.

Uh debt services back to normal at 1.2 million dollars for the month.

That's right, in line with the budget and the payment schedule.

Bottom line for the month.

It's a little bit lower than normal for July due to some construction costs, consultant fees, and then equipment rental expense.

And the majority of those are offset by the low cap spins that we had.

People have any questions for Tim.

Thank you.

Next item on the agenda is the visit in report.

Thank you, uh President Redick.

I'll go real quick in the couple of slides we have in the deck, and then we'll go to this report on ASAE.

Hotel market performance for July.

Green is good on these reports.

There's a lot of green.

The month of July, we set all-time records for Marion County, downtown Indy, and the outside of downtown as well for room sold for Marion County for revenue for Marion County for average daily rate for revenue for available room.

We're also at all-time records year to date.

That's the all-time record for the month of July, not necessarily any month.

And then year to date, we're setting it all-time records right now for demand revenue, uh, average daily rate and uh rev par available room.

In particular, I was really happy with the July occupancy numbers.

Uh the occupancy for the county as a whole was narrowly 72%.