expenses/costs

Record-breaking cash register receipts for restaurants that were able to weather the pandemic represent one statistic of a “trifecta” of big numbers affecting the industry.

Like most everyone, the organization last year made budget cuts to cope with the pandemic. But its expenses also dropped dramatically because it canceled the 500 Festival Parade and shifted to a virtual platform for other events.

But Executive Director Andy Mallon says he’s “very confident” the board will recover from not only the pandemic but also necessary spending cuts and financial hits over the next 18 months.

Officials are estimating the corridor improvements will run $47 million over the project’s original $124 million budget.