Patrons at the 2012 Music Fest partying with St. Vincent entertainer, Fireman Hooper.
Photo Credit: Gordon French/BVI Platinum News
The BVI Music Fest Committee has delivered on their promise by submitting the financial report for this year's three-day event weeks before its 60 day deadline. However, there were budget overruns.
Carnel Clyne, President of the BVI Music Festival Committee told BVI Platinum News yesterday, July 19 that the committee submitted the report to Government a few weeks ago. "We already submitted the financial report; we submitted it to Government. I think it's now just for the next sitting of the House of Assembly."
The committee had signed an agreement with the Ministry of Finance for the committee to submit their financial report within 60 days following the event. The event was held May 25-27 in Cane Garden Bay (CGB).
As customary, the Premier Hon. Dr. Orlando Smith will be the person to lay the report in the House of Assembly and it is not clear when this will be done; however, there will be a sitting in the House on July 24.
When asked if there were any budget overruns, Clyne said, "We did, we did, but not much, slight overruns. But I cannot give any numbers now since the report was submitted to the Government and then has to go to the House of Assembly...Also remember we made it public that we didn't really have much money...So yes there was a slight overrun."
At a press conference in April, reporters were told that to run the show it will cost $315,000.00; however, at that time they only had $225,000.00. This year, Government reduced its allocation from $300,000 to $150,000.00. The $150,000 allocated was included in the $225,000.00 figure which was given in April to reporters.
At the same press event, when asked if there was a likelihood that the event will have a large running deficit, Music Fest Committee Event Coordinator, Rhodni Skelton said they will not be doing anything that they cannot account for.
Meanwhile, yesterday Clyne assured that when the report is laid in the House of Assembly, they will begin plans for next year's event in relation to fundraising events to enable a better show.
"As soon as that is finish, we will start doing some fundraisers for the 2013 show...We are going to start work early. We are already in talks with some other corporate sponsors to come on board. So I think 2013 we will have a bigger budget and be in a better shape to be able to have a better show, better artistes and better everything," he stated.
Clyne in April had stated that with just a relatively small investment of $150,000.00 by Government, it blossoms into an estimated $4M worth of economic stimulus, spread out through the community.
Skelton on the other hand had elaborated on the projected $4M projected return on investment that they were projecting. "This is based on our exit surveys that we have done in past years. There is a thing, a money multiplier; it's a formula that is used in economics and based on the formula and the immediate data we have available, you put that into the money multiplier and this is what you come up with; the spinoff effects of fund. Obviously the direct spend will be in Cane Garden Bay and then it trickles out to the rest of the community."
The artists that performed in May included English Grammy Award winning R&B singer, Estelle; Third World Band, Forever Motown, Antigua's Tizzy of El-A-Kru, Melanie Amaro and Fireman Hooper. Local performers include Type of Toad, Quito and The Edge, Ritical, B'More and Lincoln Ward.