Sunday, April 18, 2010

Does the City of Greensboro cover about 19% of the Coliseum's budget, even after Rashad Young let Matt Brown off the hook for the Canada Dry leases?

Coliseum Update: Budget Cut 15%, No Hockey
Tony Wilkins
Busy Being Born, April 16, 2010

...We are projecting the Coliseum Complex's operating budget deficit
for the FY 2010/11 to be $1,587,542
or $245,910 or 15% lower than FY 09/10 Operating Budget Deficit.

Matt Brown
Memo to City Council,
WMC, Rashad Young, Bob Morgan, R. Lusk, L. Davis, J. Fletcher and S. Johnson
April 12, 2010

Total Indirect Expenses: $8,313,114

divided by

Net Income(Loss) $1,587,542

=(19.1%), which would have been (22%) if the $256,000 was included

The City Manager agreed
...the two lease payments of $100,000 and $156,000
should not be charged against the Coliseum Operating Budget.

Matt Brown
Memo to WMC, Rashad Young and Bob Morgan, but not City Council
April 16, 2010

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