Friday, September 5, 2008

The Never ending quest for Financial Stability (Crowsnest Centre, Crowsnest Pass)

Talking to people that have been around for a long time that take an interest in local politics, some interesting comments have been made to me. When the initial concept of the Crowsnest Centre was first tossed around, one of the big selling features was that it would be self sufficient in a few years. Then it became a few more years, and a few more, then boom here we are 17 years later and its still not. Its time for all the politicians to stand up and say this is not and will not be the case, it's great to have dreams, and to put together business plans. But they are just numbers, they mean nothing unless they prove to be true. Discussing this with a local banker the first thing they do when they see a business plan, is determine if the assumptions used make sense, then they look at the history of the business to determine if the business as a credible track record. So why don't we do that with the Crowsnest Centre.
There was the Nokomis Report of June 1989, which said it would be self-sufficient within three years. The Crowsnest Centre Learning Centre Corporation Marketing Strategy of 1991 that said it would be self-sufficient by 1993. The three-year business plan of 1997-1999 that showed a net income of $144,580 in 1999. The Marketing Plan of 2002, the Marketing Plan of 2003, the New Beginning plan for 1999-2004. Finally the latest Business Plan that shows the Centre not requiring any tax dollars by 2010.
In addition to the above, the Centre received a loan for $131,000 from the Municipality in 1990 that was written off in 1996. The Line of Credit that was given to the Centre in 1996 of $150,000 that was paid off by the Municipality in 1999, (the same year the Centre was projected to have net income of $144,580). The $35,000 Line of Credit given to the Centre in 2006 that was paid off by the municipality in 2008.
Now as a councilor the above makes me very skeptical that any business plan would make sense, I argued prior to the last Line of Credit being granted that the taxpayers would be paying that off to. I was told, that was nonsense that the place was turning around and heading down the right track.
Can anybody show me why I shouldn't be skeptical every time this place provides a new set of numbers?
Once again its time for the Politicians to stand up and tell the Taxpayers that they are going to have to put money into this building every year, and chances are as it gets older the dollars are going to have to increase. It's the taxpayers choice lets not hide behind a petition that's worded so vaguely, its great to say that we are going to have a facility for the next ten years. But we have a duty to tell the taxpayers how we are going to run the facility, how we are going to make it accountable, and how we are going to pay for it.

No comments: