BLOOMINGTON - In another blow to the city's budget in hard economic times, the U.S. Cellular Coliseum posted a $440,000 operating loss at the end of its third fiscal year. | Interactive graphic: Attendance, finances | MyPantagraph: Bloomington Government and Issues Group

"I think you are going to be hard-pressed to find any alderman who would be happy with that," said Ward 5 Alderman Jennifer McDade.

The year-end financial report was released to Bloomington aldermen Wednesday and obtained by The Pantagraph. The report is expected to be released to the public Thursday afternoon.

The report issued by the Coliseum operator, Central Illinois Arena Management, covers the 2008-09 fiscal year, which ended April 30. The 7,500-seat arena opened in April 2006.

The report shows a $396,189 loss for the year and another $43,737 in extra expenses. That leaves the Coliseum in the red by $439,926.

CIAM owner John Butler did not return a call Wednesday.

Ward 4 Alderman Judy Stearns said the operating loss was "another blow to a (city) budget in crisis."

The Coliseum's shortfall will have to be paid for out of the city's general fund. How the higher-than-expected loss will affect the budget was unclear Wednesday.

Bloomington struggled financially in 2008-09. The City Council eliminated nearly 80 city employees in an effort to balance the city's $77 million general fund budget for the current fiscal year and running a $5 million deficit the year before.

Ward 8 Alderman John Hanson said the Coliseum's loss is not surprising given current economy conditions.

"Across the country entertainment venues are being hit hard," Hanson said.

Ward 1 Alderman Bernard Anderson and Ward 9 Alderman Jim Fruin echoed Hanson's comment.

"Is it acceptable? Of course it's not, but with the state of the economy it is not unexpected," Anderson said.

Attendance for this year was 319,932 for all events, the highest attendance out of the three years it has been open.

In its first fiscal year of operations, the Coliseum posted a $350,900 operating loss and an attendance of 318,863.

It posted a $28,800 loss in fiscal year 2007-08, according to the report Coliseum managers issued in May 2008. Attendance for the second year was 289,374.

The operating loss does not include the nearly $1.9 million needed each year to pay the $29 million in bonds issued to construct the $35.8 million Coliseum, Pepsi Ice Center and adjacent parking deck. An increase in the city's sales tax approved by the council last year goes to pay on the bonds.

Ward 7 Alderman Steven Purcell declined to comment Wednesday about the operating loss until the report is released Thursday.

Aldermen David Sage, Ward 2; Kevin Huette, Ward 3; Karen Schmidt, Ward 6; and Mayor Steve Stockton did not return calls Wednesday seeking comment.