Thursday, June 29, 2006

See Bottom 'Graph for the REAL News

True to form, here's the REAL news, in the last three paragraphs of the story:

Jeffrey Sinkovec, the district's director of finance and accounting, reported that through the first five months of the year, operating revenue over expenses was running $612,243 ahead of last year at this time. Net income showed a loss of $2.6 million, compared with a loss of nearly $4 million at this time last year.

"We've had a very good five-month run," Sinkovec said.

Sinkovec said all three of the district's buildings reported higher revenue over expenses compared with last year at this time. However, Richard Geyer, president and CEO of the district, said the year would level off during the slower summer season.

Here's the top-graf stuff:

The Wisconsin Center District board has become the latest governmental body to raise questions about the accuracy of the tax collection efforts by the state Department of Revenue.

The district receives tax revenue from a 2% Milwaukee County hotel tax, a 7% city hotel tax, a 3% car-rental tax, and the 0.25% food and beverage tax. In 2005, the taxes totaled $15.7 million, Engan said.

So the Wisconsin Center Board got almost $16MM in taxes, complains that they were shorted, reports "only" a $2.6MM loss, and goes home.

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