A
final report on RAGBRAI®'s visit to Knoxville is being prepared, but it
is already known that the executive committee "broke even" on the
event.
The Knoxville City Council set aside $50,000 for RAGBRAI, but the
executive committee only requested - and reimbursed - the City $25,000.
The committee had hoped to make a profit from the event, and use the
excess funds for grants.
"We kept money in the bank to pay all of our bills, including the $25k
reimbursement check to the City," Committee Member/Assistant City
Manager Dylan Feik said. "We also included a small reserve to cover
costs for the year-end tax filing which will need to occur."
Feik went on to say that fellow Committee Member/Chamber of Commerce
Executive Director Larissa Van Donselaar is working on a final report to
share with the community. This should be completed soon.
The City did not incur costsfor goods, materials, etc. because those
items were paid for by the Overnight, LLC which was funded by RAGBRAI
revenues, vendor fees, t-shirt sales, beverage garden sales, etc. Feik
said he could try to provide estimates regarding staff costs related to
the time put in for planning and executing RAGBRAI.