by:  Diane Benjamin

According to the Pantagraph today the Coliseum lost $183,727 for the year that ended April 30, 2014.  Funny how no un-audited financial statements are available.  The CIAM throws un-audited numbers out as fact and the local media laps them up and dutifully reports them.  CIAM issues a Press Release and you are supposed to believe it.

The easiest way to prove the Press release put out by CIAM is fiction is to compare their un-audited financial statement from the previous year to the one the auditors issued.

Last years CIAM report can be found here:  http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=6569  page 14.  It shows an Operating Income of $176,759.17.  Everybody celebrated that number last year.  WOW – the Coliseum showed a profit!

What nobody told you is what the auditor’s financial statement showed.  The story they have is a little different, okay a LOT different.  You won’t find the below statement on-line anywhere.  David Hales doesn’t want to truth to be told.  If Hales cared about the truth, the audited financial statement would have been issued in a Press Release, or at least posted on-line.

How does he explain to the people paying the bills the Coliseum actually lost $873,551?  Look down a little farther.  Not only do the auditors show an operating loss, the Bloomington taxpayers has to cough up another $225,000.  Did you know the City of Bloomington “contributed” to the Coliseum?

Don’t the taxpayers have a right to the truth?  How much did the Coliseum really lose this year?

Don’t buy the Depreciation line – even without it included, CIAM still lost money for the taxpayers.