From the Niagara Falls Review:
A dip in revenue – partly due to fewer American travellers – and a surge in utility costs are responsible for a half-million-dollar loss at the Niagara Parks Commission last year, officials say.
The commission will report an “accounting loss” for its last fiscal year when it files its annual report to the government. Staff are working on the report for the 2005-2006 fiscal year, which covers the 2006 summer tourism season.
Revenue dropped about one per cent while expenses increased by about 5.5 per cent, general manager John Kernahan told The Review.
Since 1999, there has been a steady decline in the number of American tourists, chairman Jim Williams said. Spending by American tourists accounts for about 60 per cent of parks commission revenues, he added.