Thursday, January 29, 2009

Lakeview Financial Statements for 2007

These figures are evidently not available for public release at this time. This is a partially substantiated fact that of all the cash and pledges, only approximately $10million is in cash. In the meantime, many who pledged have withdrawn their pledges including the Bielfeldt and Ellen Foster Foundations according to museum committee members.

For the sake of transparency, perhaps the museum will release more figures and that might explain where the approximately $6 million of grants committed to the new museum(taxpayer dollar)received since the days of Mayor Ransburg were expended or how much is held in reserve for the new museum. Also where the $8-13 Endowment (5 1/2 % estimated return)is going to come from? Taxpayer dollars, if I correctly interpret.

$.25 does sound like much but it adds up to $3 million plus for maybe 20 years, money that can't be spent with the private sector, who after all, keeps this country limping along until our form of government goes totally socialistic.

Also for the person who thinks that In_Play would not have gone bankrupt if the museum had been built. Sorry, poor thinking, sir. The museum would have been in direct competition with this private entity using taxpayer dollars. Same as the museum would have been direct competition to the defunct souvenir shop.

1 comment:

Merle Widmer said...

If I am wrong and detailed financial information is available for 2007 and a partial for 2008, please advise as my accountant and I would like to review.