The original operational budget for the convention center only included a minimal (I think 5%) reserve for maintenance, repair, and replacement. Within the last year, the LCCCA Finance Committee headed by Laura Douglas with active support from R.B. Campbell – was able to change the rules so that a much greater maintenance reserve fund will be created (I think 15%).
This is only one of many examples of how the current LCCCA board was forced to deal with the incredibly negligent planning they inherited, and turned it into a workable solution.
Editor’s note: “Negligent planning”? Hardly, with millions of dollars of fees for consultants. We believe “misleading” is more accurate. Scoundrels understate costs to hide losses.
