The issue of dueling public records requests seems to be resolved, with Councilman D. Michael Collins getting some financial information for the Erie Street Market.
But the information definitely seems lacking - and is in the same format as the last financial report received March 7, 2008, which detailed the data for the last weeks of 2007.
As I said in March, it's not what's in the financial statement, it's what's missing from the expenses column.
Unless 'contractual administration' includes the wages, etc...of the ESM manager, there are no wages, benefits, payroll taxes for her. There is no charge for insurance.
All city departments get charged for various 'services' other departments perform for them. There are no charges on this spreadsheet for legal, accounting, auditing or other such fees.
Since the city is paying utilities and and other overhead costs, they should be listed as expenses for the facility. There are no telephone expenses...and what about the previously detailed line item for the piped-in music, which is not listed on the city's spreadsheet? Maybe they are including telephones as 'other overhead costs?' Regardless of their classification, they need to be listed as expenses for the facility in order to obtain a true picture of whether or not the Erie Street Market is making money.
This spreadsheet shows that there is a 'profit' of $26,268. But if these other expenses are included, is there really a profit?
Clearly, this is not an accurate accounting of the costs of the facility. City Council should demand that ALL expenses attributable to the facility be included as part of the financial statement - and they should make any decisions about the Market only upon complete data.