By: Diane Benjamin
The audited financial statements for the Coliseum show a loss last year before depreciation of $782,945: http://www.cityblm.org/Modules/ShowDocument.aspx?documentid=7481
I predict losses this year will be much greater because very few events have been held. The 3rd Quarter statement prepared by CIAM has not been issued yet – the Quarter ended on January 31st. History shows that whatever loss is on the statement, the actual loss is much greater. See this post for how far off CIAM has been in the past in comparison with the Auditor: https://blnnews.com/2015/01/20/more-coliseum-fraud/
The City is now proposing to spend another $2,510,000 on the Coliseum. I laughed out load when a City employee said Monday night they are contractually obligated to spend. Evidently the City MUST follow the contract, CIAM doesn’t have to. Search “Coliseum” on this site – plenty of contract breaking stories.
Keep in mind the Coliseum isn’t even 10 years old yet.
Here’s what the City wants to spend your tax dollars on now: (Book 2 – page 84
Click to enlarge.