By: Diane Benjamin
Below are the Quarterly losses VenuWorks has previously reported for this fiscal year:
5/1/2018 – 7/31/2018 -130,634.54 PDF page 5
8/1/2018 – 10/31/2018 -96,333.02 PDF page 5
11/1/2018 – 1/31/19 -68,108.47 PDF page 5
Year to date for THREE quarters shows a loss of $295,076.03.
The 4th Quarter ends tomorrow.
Keep in mind last year VenuWork reported a fictional loss of $665,099 when the audited loss was $1,059,599 without depreciation.
VenuWorks loss – PDF page 22 http://www.cityblm.org/Home/ShowDocument?id=20026
Audited loss – PDF page 6 http://www.cityblm.org/Home/ShowDocument?id=20285
Number of “guests” Venuworks reported this year: (see links above)
First Quarter – 38,084
Second Quarter – 20,695
Third Quarter – 33,930
Year to date total is – 92,709
Last year they reported a total of 116,179
From the event reports on line, during the 4th Quarter total “guests” likely surpassed last year by at least 17,000. Source: http://www.cityblm.org/government/advanced-components/documents/-folder-1694
Hopefully the audited loss will be below $1 million.
Unless VenuWorks plans to do a better job accruing expenses for this year and not paid until next year, whatever loss they report will be fiction.
Get ready for the media to repeat their numbers over and over and over. We won’t know the audited loss for many months, just like last year the media won’t report it.
You are warned!
5 thoughts on “Get ready for VenuWorks fiction”
I wonder if the $350,000 cap on losses for VenuWorks is from the audited report.
It is! For once it was actually in the City documentation.
Meanwhile, I hear that TOTO is at the Peoria Civic Center Oct 2nd. Tickets go on sale Friday. WHY can’t Venueworks get SOMETHING worth going to??
I think Tari and his buyer are about to close the deal on the arena. He has been pretty quiet about it lately, but I am sure he is about to announce it any day now.
Late night comedy!