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Closer look at finances for riverfront

Published: Wednesday, Jan. 2, 2013 1:15 a.m. CST

I was glad to see that, in a recent letter to the city council, Riverfront Chairman Larry Reed stated, “There were hours of background study, performance evaluation with a written rating, and mid-year budget review and a year’s end budget report.”

This being the case, [there is] a simple answer that should be at hand to convince the city commissioners to agree with his request. A special meeting of the Riverfront finance group was held at the Comfort Inn on Thursday, Feb. 25, 2010. From the chairman’s notes, Shawn Ortgiesen presented the numbers for the Dixon Riverfront cost summary as of Feb. 25, 2010: disbursements: $5,693,062.55; receivables: $3,074,985; funds needed, $2,618,077.55.

Based on those figures, what has been the increase in indebtedness because of loan interest, and what do the financial records of the commission show were payments made to the city as a result of fundraising efforts from sales and rentals in the 34 months that followed?

Successful results should certainly be proof that the current administration should continue.

 

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