The 75th Liberation Carnival came to an end Wednesday evening.
The food and amusement vendors have left Paseo, and the games of chance and House of Cards have shut down.
It will be some weeks or months, however, before a final report is issued on this year's costs to hold the carnival and the tax revenue it has generated for the government of Guam.
Therese Arriola, the vice chairwoman of the Guam Liberation Day Committee, hopes the committee will break even.
Arriola, who also serves as the director of the Guam Behavioral Health and Wellness Center, has issued a preliminary “profit and loss” statement covering revenues and expenses through July 31.
The preliminary statements show a total income of $803,102 and total expenses of $929,406 – a shortfall of $126,303.
“We’re really not done,” Arriola said. “The carnival just ended, but bills and revenues are still coming in.”
Among the revenues still coming in are fees collected from the sale of the commemorative 75th Liberation Day book, "A Legacy of Peace and Friendship," which is being sold at the Senator Antonio M. Palomo Guam Museum and Chamorro Educational Facility for $45. Two thousand copies were printed.
Arriola also said the committee is still receiving income from the raffle tickets for a Mitsubishi Outlander. The raffle drawing was postponed until Aug. 14 because of last week’s rainy weather.
The weather also pushed back the date for the fireworks display to Aug. 23.
The fireworks display is among the top expenses at $75,000. The 75th Liberation Day parade itself cost $21,329. Entertainment and personnel costs are listed at $88,665.25.
Other expenses listed include:
• carnival security – $50,676;
• events – $82,942.19;
• media/marketing – $32,068.36; and
• memorials – $32,300.
Liberation queen raffle ticket sales and major sponsorships make up a large part of Liberation Day-related income, but the biggest source of revenue came from the fees paid by the bidders who won the right to sponsor the games of chances and operate the House of Cards.
• Sponsorships – $109,500
• Liberation queen raffle ticket sales – $194,826
• Concessions – $427,804
Income from the games of chance and House of Cards are grouped together in the concessions category. The vast majority of that $427,804 is money from the vendors who won the bids to operate those concessions.
The amount of money those vendors made operating those games and the casino, and how much they each paid in taxes, will be the subject of a report to be issued by the Department of Revenue and Taxation.
“The rules and regs that were adopted by the Legislature require us to report the amount of gross receipt taxes that were paid within 60 days of the closing of the carnival,” said DRT Director Dafne Shimizu.
That amount of time is needed, she said, because August GRT payments are not due until Sept. 20. As a result, the final report on tax revenues from the games of chance probably won’t be available until early October, Shimizu said.