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Wed June 13, 2012
Convention Center Corporation Set To Enter Next Fiscal Year with Balanced Budget
The Paducah/McCracken County Convention Center Corporation will enter the next fiscal year with a balanced budget.
Their Executive Committee met yesterday and discussed the proposed budget for next year, which included projected revenue nearly equaling projected expenses. Chairman Jim Sigler says the Convention and ExpoCenter will begin the fiscal year with excellent finances.
"This is the first fiscal year we've ever entered into (that's July 1, 2013) where we're not carrying any significant amount of debt from the CCC. We're projecting a break-even budget. But in the CCC's business, that's a huge win for us."
The Executive Committee voted to recommend the budget to the full board. Sigler also addressed questions about the CCC’s reaction to the embezzlement case against former Convention and Expo Center Director Patrick Kerr. Now that Kerr and his accomplice have received sentences, Sigler says independent counsel would be able to move more quickly to investigate how the board could best get restitution. Once that investigation is complete, the board will decide whether or not to pursue litigation.