ONN – Las Vegas Stadium Authority Raiders Meeting Live May 23 2019
This part of the meeting concerns the following agenda items:
12. Resolution to Augment FY19 Budget Fund 2960
13. Revision to FY19 Budget Transfer Reconciliation Schedule
14. Quarterly Economic Survey Report Q3 FY2019
15. Stadium Authority Tentative FY20 Budget
16. Stadium Authority Proposed Final FY20 Budget
The $31 million in “unanticipated revenues and unanticipated beginning fund balance” was accompanied by an explanation by Las Vegas Stadium Staff Consultant Jeremy Aguero that was not included in the agenda item’s document on the stadium website. It looks for all the world like the reported extra $31 million in personal seat license revenue was transferred to the fund balance, but he claims it was an accounting difference that had to be reconciled.
That’s weird. If that’s the case, why not report that in the original file – this one? It’s this kind of constant coming up with some story that makes this effort consistently suspect. The way to avoid those problems is to make sure the story told is on paper, on the website – right now, it’s not. So, the whole deal looks like a sham.
That also includes Steven Hill’s claim that the actual revenue for the bond issue is tracking close to what the consultants forecast – actually, it’s not at all.
Stay tuned to see that chart.
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