Eagle Pass City Council Reveals Financial Outcome of 57 South Music Festival

Untitled 4

UPDATED 5/9/24 EAGLE PASS, TX — Last night, the Eagle Pass City Council released a comprehensive financial breakdown of the 57 South Music Festival, highlighting a significant loss. After returning from executive session the Eagle Pass City Council were read a financial breakdown report about the 57 South Music Festival Event by Assistant City Manager Ivan Morua. The reading revealed the $2.35 Million Dollar loss on the 57 South Music Festival. 

WHAT YOU NEED TO KNOW ABOUT THE RUNOFF ELECTION: Maverick County Tax Assessor Collector Runoff Election Sparks Controversy as Public Expresses Frustration

Background and Administrative Changes

The 57 South Music Festival was planned and executed primarily under an interim city manager. However, the administrative landscape shifted dramatically at the end of February with the appointment of Homero Balderas as the new city manager. During the negotiations for Mr. Balderas contract, Assistant City Manager Ivan Morua relieved Jesse R. Rodriguez, the long-time Finance Director, of his duties in February.

In response to the financial fallout from the festival, the City Council has since authorized a forensic audit to scrutinize the event’s management and procurement processes.

DID YOU MISS THIS: Coach Tom Gonzalez Announces Retirement from Eagle Pass High School

Financial Details of the Festival

The City Council disclosed the following financial details from the festival:

  • Revenue Collected:
    • Ticket Sales: $204,090
    • Beer Sales: $63,999
    • Non-alcoholic Beverages: $3,023
    • Merchandise Sales: $2,325
    • Sponsorships: $35,000
    • Total Revenue: $313,337
  • Expenditures:
    • Management Company: $2,497,494
    • Management Fee: $146,285
    • Talent Fee: $1,228,860
    • Marketing: $121,800
    • Other Services: $1,000,549
    • Other Expenses (including city staff overtime, equipment): $82,297
    • Fuel: $4,726.50
    • Equipment Rental: $78,446
    • Materials: $1,599
    • Shuttles: $2,500
    • Total Expenditures: $2,669,121

The festival ended with a substantial net loss of $2,353,784, significantly impacting the city’s finances.

Forensic Audit and Future Directions

The council’s decision to implement a forensic audit reflects a commitment to transparency and accountability in city-managed events. This audit is expected to reveal deeper insights into the decision-making and financial management associated with the festival, potentially influencing future city projects and events.

DIVE INTO: Eagle Pass ISD Superintendent Top 100 Paid in the State of Texas

Untitled 56

Community Response

The revelation of these financial details and the subsequent administrative changes have stirred discussions among Eagle Pass residents about fiscal responsibility and strategic planning in city governance. The community eagerly awaits the results of the forensic audit, which will likely play a crucial role in shaping future policies and practices.

As Eagle Pass navigates this challenging period, the outcomes of these investigations will be critical in restoring trust and ensuring the responsible management of public funds in future events.

READ ABOUT: Eagle Pass ISD Police Unit Involved in Motor Vehicle Accident

City Manager Homero Balderas inherited the issues with the 57 South Music Festival prior to his administration. Assistant City Manger Ivan Morua addressed issues immediately with the dismissal of the finance director, Jesse Rodriguez. City Council has since approved a forensic audit into the procurement process of the 57 South Music Festival.

  • Staff Editors have reached out to the City Manager for comment on the report revealed at the City Council Meeting last night.
  • UPDATED: Assistant City Manger Ivan Morua addressed the issue when, Jesse R. Rodriguez was discharged of his duties with the City. Editor previously credited Mr. Balderas for the dismissal of the finance director.

About The Author

Leave a Reply

Your email address will not be published. Required fields are marked *