COTTONWOOD -- The annual Thunder Valley Rally event operated at a loss to the city in 2018 but by small margin, according to Cottonwood City Manager Ron Corbin.
The gap in cost recovery was getting smaller each year with a 94 percent cost recovery in 2017, up from 70 percent in 2016, according to a TVR statistical report.
One of the 2018 goals was to increase the debt loss gap by 100 percent, according to this year’s report.
In 2018, the event brought in $152,690.00 in revenue with $190,041.02 in total expenses with indirect salary and benefits making the total loss $37,351.02.
The annual biker festival was hosted at Riverfront Park last September. The event used to be hosted in at Cliff Castle Casino before moving to Old Town. At one point, it was split between Old Town and Riverfront Park. In 2018, the event was hosted entirely at the park.
The event has raised $103,630.60 for charity since 2015, according to the report.
Council will look at the full TVR statistical analysis Tuesday at the next regular meeting.
Cottonwood City Council holds regular meetings every first and third Tuesday of the month at 6 p.m. at their Chambers Building, located 826 N. Main St. For agendas and minutes, visit http://cottonwoodaz.gov/129/Agendas-Minutes. A livestream of the meetings is also available on the Verde Valley TV YouTube channel.