Numbers ‘magically wonderful’

The latest from Bay Venues (BVL) reports that everything is wonderful and more than what could be expected. Whatever leeches out via TCC into the public realm somehow is always better than any previously created expectations.

Any time Bay Venues reviews/reports something about itself to TCC, their numbers become magically wonderful, exceeding all expectations, and then hands are out for more TCC ratepayers' money.

Mount Hot Pools makes millions that self-justifies spending millions on upgrades. The Adams Centre for High Performance's maximum profits were small (with a perfect storm/no rent) yet even that has been massively exceeded.

These ad-hoc results are truly amazing to behold. Sadly for TCC ratepayers, the truth can only be found by following the money. Adding up TCC/BVL glossy numbers and comparing to actual, there is a gap and it's huge. No one at TCC yet has reconciled these: annual audited report and what's reported any other time?

It gets worse: BVL fell well-short of its own budget by $4 million (20 per cent) – that's really bad! Annual reported loss revealed $8.2m ($7.8m). Ratepayers throw millions more at BVL for: bills/losses $2m/pa, depreciation reserves required annually of some $5.6m, total losses actually are then some $16 million/pa.

The gap between BVL's dreams and the TCC ratepayers' money gone just gets bigger every year.

I Stevenson, Tauranga (Abridged).



4 Comments

Makes lots of sense to me

Posted on 15-01-2018 09:20 | By CONDOR

Yes have a public meeting where protagonists can slog it out.In one corner we have TCC and BVL who maintain the CCOs annual financial reports are kosher and on the other side the critics who say its creative B/S accounting and that Ratepayers are being blindsided.Solution both sides can present their arguments and try to justify themselves in the public forum and then let the media and people be the judge.I know who I would bet on .

Interesting comments

Posted on 14-01-2018 13:08 | By MISS ADVENTURE

Knowning the usual modes operandi of TCC anyway they will only agree to a meeting that is behind closed doors and has a specific agenda that has use of being created. Worse BVL will hide behind its mummy's (TCC) skirt and so remain in the shadows. The usual game of TCC told us to do it, TCC they acted as per agreed funding terms. That would leave us all wondering where to fire teh bullet, its my opinion that it would be indeed kind and just for TCC ratepayers for there to be a cull, a 100% cull. To leave any behind would risk reinfestation.

I would say.......

Posted on 14-01-2018 10:04 | By groutby

....as someone with little financial knowledge of TCC and BVL, my "gut" feeling would fall into line with the comment by qualified people such as writer Mr Stevenson, so bring it on I say (an independent mediation/audit), but wait...it simply won't happen because of what is likely to be discovered.....you would think though the paying public have the absolute right to know, good or bad....

Truth and Recociliations- a solution

Posted on 13-01-2018 12:11 | By ROCCO

Well have looked over this mess and made my own enquiries and observations on the points raised.I will certainly run with Mr.Stevenson's assessment as a qualified accountant about the general situation with BVL and Council.As no one can get any sense out of either of these outfits the only way to resolve what is going on is for a Public meeting to be called with an independent mediator to run the show.TCC would be represented by it's Chief Financial Officer and BVL by its Accountant on one side and Ian Stevenson and another local body specialist on the other side.Let the public then be the judge of who is right.No show by anyone then the other side wins by default.

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