Belknap County receives $400K from Gunstock Mountain revenue

GILFORD — Throughout last season, management at Gunstock Mountain Resort spoke of record days and outstanding conditions. That all paid off with about $31,000 more revenue coming back to the county than last year.

Doug Lambert, chair of the Gunstock Area Commission, was joined by Commissioners Jade Wood, Angelo Farruggia, and Heidi Preuss to present the Belknap County Delegation with a check for $397,371.34. 

Lambert said one of the great things about Gunstock being part of Belknap County, money is deposited back into the treasury. He called that a “good place to be.”

“We had another successful year,” Lambert told the delegation, which is made up of the county's elected representatives to the Statehouse.

“I will say that the team works extremely hard to develop a good — an excellent — report for the guests and our visitors. They’re very proactive in really creating a wonderful place for people to visit and be.”

Gunstock has an outstanding bond balance of $350,000, and Lambert said this payment will be made this coming year, and then a final payment will come next year.

“Gunstock will be debt free,” Lambert said. “Which, those of you who’ve been around for a while, know that has been quite a journey from where Gunstock was a decade or so back.”

Wood agreed, and said in five years, debt has decreased by 91%.

General Manager Robert Drake, Technology Department Manager Lisa Graham, Director of Resort Services Robin Rowe, employee Alex DeLuca, and Marketing Director Bonnie McPherson were in the audience for the check presentation. Lambert said he would be remised to not point them out, as they have been integral in the resort’s success.

“We’re up here to get the glory, but honestly, the glory does move with this group here and their staff, their team and all the employees at Gunstock,” Lambert said. “They’re the ones that make it work, and they’re really the ones, ultimately, who are responsible for the success of what we bring here to present to you today.”

Lambert said Gunstock is one of the primary anchors of the local economy. It was reported at the meeting Gunstock makes about $20 million in the winter months, and about $3 million in the offseason.

“It’s not just in the winter,” Lambert said.

Lambert said there has been a “mission of reinvestment” with Gunstock, and over the past five years, they have invested “about $4 to $5 million” in self-funded capital improvements. This year marked phase I of the overhaul of the Panorama Quad, which has been completed.

“It’s, for all intents and purposes, a brand new chairlift,” Lambert said.

Other upgrades include a snow groomer and a new loader, and there has also been trail expansion and glade maintenance. Snowmaking equipment has been upgraded, allowing the process to start when it's 2 to 3 degrees warmer. The new system also allows for snowmaking simultaneously at the top and bottom of the mountain, something they were unable to do before.

“It is Mother Nature,” Lambert said. “She is fickle. But the team, and the operation, and the investments we’ve made in the mountain are there to make sure that we take advantage of every opportunity that winter has to offer.”

Drake added they can cover “at least” two trails within a 24- to 48-hour window of cold weather. Wood said it is “unprecedented” that snow can be made from top to bottom of the mountain, something she’s excited about.

Lambert said the four season recreation opportunities for residents and visitors continue to grow. The campground continues to be an area of investment, including improved infrastructure and added sites.

Weddings have been a big focus for the offseason, and Lambert said the marketing team at Gunstock has been “going gangbusters.” He thanked the commission and the delegation for designating funds to improve the parking lot, saying it is more enticing for people to get married where it isn't so dusty.

Lambert suggested hiking to see the area for weddings at the top of Flintlock. He said this is a great location, away from the summit so people can still take the chairlift up for the sights, and enjoy a snack and a beverage at the Panorama Pub.

“Through foliage season, it’s been going pretty much non-stop, seven days a week,” said Lambert, who added the commission is proud to have this as an offering.

Last year, there were between 840 and 890 employees at any time, with a retention rate of 60% to 70%. Lambert said it’s a great source of employment for young residents.

There were 9,415 season passes sold. Wood said she’d look into what percentage were Belknap County residents.

Lambert said 1,381 Belknap County residents purchased reduced price tickets, for $50.

“That is the best deal anywhere in skiing,” Lambert said.

County Commissioner Peter Spanos called a recent audit “immaculate.” Rep. Barbara Comtois (R-Center Barnstead) asked about auditors becoming aware of internal control issues. Lambert said this pertained to credit card receipts, “or lack thereof,” and management was in the process of changing procedures to include digital credit card purchases.

Comtois asked how long that had been an issue, and Lambert said most came in the last couple of years, and “are very small.” Drake said this is the first time in his tenure the issue has occurred, and they are working to ensure it doesn’t happen again.

“We are taking measures to solve it,” Drake said.

Lambert said at the end of the fiscal year, Gunstock finished with about $10.5 million in the bank with cash equivalents. This is what allows Gunstock to get from the end of the ski season through the slower summer months, and to the next season. The money keeps Gunstock from coming to the delegation looking for a revenue anticipation note.

Preuss said one thing people often misunderstand, as this amount is at the highest point of the ski area’s income. Most important is how much is in the bank in November, which is about $6 million.

Lambert said this self-sustaining system is working, and “honestly, that has been a place we like to be as the commission.”

“We don’t have any intention of having to go back to that situation,” Lambert said.

The Gunstock Area Commission has adopted and followed policies to maintain guidelines and expectations, Lambert said. This has included monitoring duties and making sure everything is in full compliance with law. With some key personnel changes, Lambert said the team has managed this in “seamless fashion.” He said it has been a pleasure to support the process as they “run their ship.”

“We’re doing our job, they’re doing their job, in concert with each other,” Lambert said. “We’re just so pleased to be able to report that Gunstock is doing amazing. It is something that I think everybody in the county should be very proud of.”

Commissioner vote

The county delegation reappointed Wood to the Gunstock Area Commission, following the interviews of two candidates at the meeting.

Wood said, five years ago when she was first appointed, she made three commitments to the delegation: transparency, accountability, and financial responsibility.

“I’m happy to have delivered on those promises and commitments,” Wood said. "I am eagerly, very, very excited to continue to do the work that I think will be an asset to the mountain. Obviously, Gunstock is more than a ski mountain. It’s a county asset, as you know. It’s an economic engine.”

In 2021, when she was appointed, Gunstock was in a different position, and coming to the county delegation year to year looking for revenue anticipation notes. Since her appointment, she said, Gunstock has returned money to the county.

“Every single dollar that Gunstock can return to this county is a dollar that can help ease the tax burden on your constituents and our neighbors.”

The other applicant was Kaylee Boisvert, who told the delegation she has a “deeply personal” connection to Gunstock. She has been a skier, athlete, and coach at the mountain, and is now a parent introducing what she has loved to her own children.

“Gunstock’s really a county [asset] that’s unique and valued,” she told the delegation. “Its future really depends on preserving its character, its accessibility and that community connection, but also hopefully making sure we address the long-term operational and financial stability of what it brings to the area.”

A topic of discussion was a potential conflict of interest if Wood is elected to the Statehouse in the election on Tuesday, Nov. 3. Comtois said there is no statute to prohibit this.

The delegation members were impressed by both applicants, ultimately reappointing Wood with a 9-1 vote.