BROCKVILLE – While a capital deficit was expected, the Brockville Railway Tunnel also ended it operations for 2018 in the red.
According to city financial statements released today (Friday), the tunnel had an operating deficit of $4,632 and a capital deficit of just over $2.2 million, as of the end of December 2018.
The tunnel brought in revenue of $58,706 and had expenses of $63,337 – electricity being the single biggest cost for the attraction.
The capital budget saw revenue of nearly $4.8 million and expenses of just over $7 million. Part of those expenses was nearly a quarter million dollars for an audit of operations plus interest.
The report by KPMG in July 2018 found a series of problems with communication, reporting structure and changes during construction of the tunnel contributed to a nearly $2.1 million overrun.
The statements were released as part of Thursday’s (Jan. 17) meeting agenda for the Brockville Railway Tunnel Committee.