What you need to understand is that the DCU has Revenues and Expenses. Any shortage needs to be paid by the taxpayers from the General Fund. Here is what we have paid the last few years:
- FY2015 $904,118
- FY2016 $448,896
- FY2017 (current year we are in) $470,494 budgeted from the General Fund
- FY2018 (next year that is being budgeted now) $222,112 was planned to be budgeted
Over the past couple weeks, we have found out that the revenues are coming in $200,000 more then expected. As a result we do not need to budget anything from the General Fund for next year (FY18). This probably means that the $470,494 that we had budgeted for this year (FY17) will not be needed and flow through the budget to FREE CASH.
That is a great news that it looks like the DCU will not cost the taxpayers anything in FY17.
This begs the question as to why to the DCU cost the taxpayers so much in FY15, FY16 and prior years, but nothing in FY17? Then we remembered an interview with Sandy Dunn we did here. At that time we were unable to get the financial impact on the loss of the Sharks, And this one line:
Since we were notified of the possibility early and have been able to add several events that might not otherwise have appeared now that we have a greater availability of dates.
Actually the bottom line has gotten better with the loss of hockey? Here is our question, before we remove the subsidy from the FY18 budget maybe we should get a report from the DCU on the effect the return of hockey will have on the bottom line???