EXPLANATION OF LATE PAYMENT PAYMENT OF VICTORY THEATER BILLS

first_imgTodays“Readers Poll” question is:If you would like to advertise on the CCO please contact us City-County [email protected]: City-County Observer “Comment Policy”: Be kind to people. No personal attacks or harassment will not be tolerated and shall be removed from our site. We understand that sometimes people don’t always agree and discussions may become a little heated.  The use of offensive language, insults against commenters will not be tolerated and will be removed from our site. FacebookTwitterCopy LinkEmailSharecenter_img We recently posted the following statement in our IS IT TRUE section?  …Our post stated the following: “IS IT TRUE the revelation that Evansville City Controller Russ Lloyd Jr., CPA hasn’t paid the $369,000 in Victory Theater bills for 2017 has really got the attention of many people except for members of the Evansville City Council?  ..we wonder why City Council members haven’t directly comforted City Controller Russ Lloyd Jr., CPA on why he took $369,000 from the 2018 city budget to pay for the operating expenses of the Victory Theater for 2017?  …we wonder why City Council hasn’t publicly questioned City Controller Russ Lloyd Jr., CPA how he’s going to find the money to pay for the Victory Theater bills for 2017-18?SUBJECT: EXPLANATION OF LATE PAYMENTS OF VICTORY THEATER BILLS FROM THE CONTROLLER OF THE CITY OF EVANSVILLE To: City Council Vice President, Dr. Dan AdamsFrom: Russell Lloyd Jr.,CPA  City Controller Date: October 8, 2018Dear Councilman Adams:You requested a reply to blog questions about the City “finding money” to pay the Victory Theater bills for 2017 & 2018.The City did pay the 2017 Venuworks contract charge in June of 2018. To recap this procedure, the Victory Theater operating payments are charged to the Local Income Tax Fund 0474-LIT, Account No. 4745851-439010 SMG/Venuworks Contract; and in 2017, there was no amount budgeted.This non-assignment was due to the fact that the City Administration was in discussions with the management of Signature School, regarding the school potentially assuming the contract for the Victory Theater. These talks ended in June 2018 with no decision.Due to that result, funding was needed for payments of the contracts to Venuworks and the Evansville Building Authority for the Victory Theater operations for 2017 and 2018. A transfer of $369,450.00 from LIT unappropriated cash balance was approved by the City Council on the finance ordinance F-2018-10 to the Victory Theater Account No 439010.Following these appropriation payments of the 2017 contract, the balance available of $403,874.68 should be sufficient to cover the expenditures for the rest of 2018.  Please contact me if you have any questions.Russ Lloyd, Jr, CPACity Controller of the City of Evansvillelast_img

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