From today?s News & Record:
GREENSBORO ? An accounting error obscured a million-dollar shortfall in the Greensboro Coliseum’s budget, forcing city officials to scramble to reconcile the city’s accounts.
The error masked what officials say was a disappointing year for the city-owned complex, which suffered from a poor economy. The result was a $2.88 million operating loss ? much higher than the $1.55 million deficit that officials hoped to reach.
“We’re obviously disappointed by the gravity of the year-end numbers,” Managing Director Matt Brown told the coliseum’s advisory board Thursday.
The gravity disappointment being, apparently, that it pulls things down.
