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  1. #11
    Quote Originally Posted by Harvey44
    Adkskier - or anyone - when is the final budget submitted or approved?
    That's Funny!!! Hehehehe!!! LMAO???

    Nothing personal harv.

    Budgets in NY lately are never finalized. Usually they are voted on (sorta) very late after April, think Fall. Even then they are an extremely leaky bucket. Some large yearly expenses are not even counted in the " budget " so that they can be concealed. Most NY budgets passed are not even close to being funded and the dinks either pass legislation from the hip, plunder existing funds like the Highway funds, etc. and as is the case this year, just ignore deficits and try to pay for them with next year's money... robbing Peter to pay Paul.

    There are some State programs/mandates where NY State simply just quit sending the local municipalities the payroll/expense money it traditionally paid to operate these programs. They never sent a memo, letter, any notification at all to the locals informing them of this a year or so ago when it started. Can you imagine? So far the local Governments are footing the extra cost. So far.

    NY is 2 Billion short on this year's budget ending March 31. The unemployment fund is over 2 Billion in the red and growing fast. Many main bridges in populated areas are slated to be immediately replaced - badly need replaced - and there's not enough money. The State has suspended State Income Tax refund checks till April cause it can't pay them and it's bills. It still has 4-5 billion left to refund....they're not gonna have it. Starting April 1, the next year is between 8-12 billion additional dollars short - SO FAR. There's " off budget " annual expense items not even counted towards that budget's deficit but are still very real issues. Last year, Schools around the State were artifically propped up by the Stimulus money. That is running out. You can bet your left Hickory there's much more they don't tell us or have concealed. Toss in a nice helping of default to lower bond ratings and add even more increase to the deficit.

    This year's " finalized budget " ends March 31. It never was a workable budget. They fully knew that last summer. They didn't even have borrowing included to cover the 2 Billion dollar deficit!! Nothing! They just said we're spending X amount of dollars and never had anything in place to provide all those dollars. Can you imagine? So that budget was never " finalized "! It will expire unfinalized.

    Doesn't it make you feel good to know that we have the Most Dysfunctional State Legislature in the Nation to lead us through this calamity ? All warm and fuzzy like....
    incoming .................DUCK !

  2. #12
    Quote Originally Posted by Harvey44
    It looks like about $20M of the total $35M ORDA budget is used to operate Gore and Whiteface.
    Lastly, there's something EXTREMELY fishy smelling about ORDA and the Mtns' financing.

    They charge as much as the high price resorts that get zero state dollars and still turn a profit. Plus Gore/Face pays no Mortgage, no taxes, no improvement loans, on and on. That's huge! Why would they be short of money?
    incoming .................DUCK !

  3. #13

    Join Date
    Jan 2008
    Location
    Central Jersey
    Posts
    88
    A quick look at the Gore budge for 09-10 shows revenue of $9.1 M and operating expensed of $8.65 M. But those expenses do not include interest changes, princppal repayment or depreciation (non cash charge). These non operating expenses are lumpped together for all of ORDA so it's impossible how much is allocated to Gore. Assuming 25% are allocated to Gore then it would be over $1M in the red. Thke this with a lot of salt, I'm not an accountant (and the budget is not a financial statement).

    It would be interesting to see if they meet they revenue target. Based on the crowds I saw, I would doubt it. Next year they are budgeting for revenue of 9.3M which would seem like wishful thinking unless the economy turns around.

    tom

  4. #14

    Join Date
    Jan 2008
    Location
    Central Jersey
    Posts
    88
    There is also $ 1.7M allocated to ORDA administration. That would look like some low hanging fruit for the budget ax.

    tom

  5. #15
    Quote Originally Posted by TomCat
    But those expenses do not include interest changes, princppal repayment or depreciation (non cash charge).
    What interest charges? What principal repayment? When did Gore have a loan, etc? For what? Anybody know? Does ORDA issue bonds? How is ORDA financing their $25M Convention Center?




    Quote Originally Posted by TomCat
    These non operating expenses are lumpped together for all of ORDA so it's impossible how much is allocated to Gore.tom
    THAT IS A VERY BAD SIGN!

    Before anybody goes off saying " ORDA has accountants, internal audits, etc " let me say so did Enron, Bernie Madof and every other financially corrupt corporation, government body or political campaign.
    incoming .................DUCK !

  6. #16

    Join Date
    Jan 2008
    Location
    Central Jersey
    Posts
    88
    This was my source:

    http://www.orda.org/newsite/about/pd...2010budget.pdf

    I really don't know how Gore/ORDA finances capital improvements, but since there is interest expense, I would assume there are some bonds. Typically a large capital expenditure like the BR quad would not be considered an operating expense and there is no separate line item for capital.

    tom

  7. #17
    Ya know, I have a hard time feeling sorry for "poor" NYS ski areas since the State may not help out. They are charging as much or nearly-so as VT areas, get great weekend crowds, but still can't make it. I jumped to VT this season and haven't looked back. The conditions have been as good as the grooming would allow with a low-snow year and all the terrain has been available mid-week.
    JMHO.
    C

  8. #18
    Thanks TC. Anybody know any answers to these questions?

    Quote Originally Posted by Snowballs
    What interest charges? What principal repayment? When did Gore have a loan, etc? For what? Anybody know? Does ORDA issue bonds? How is ORDA financing their $25M Convention Center?
    As far as I know, improvements like BR are paid for with State money from the Legislature not with loans or bonds taken out by ORDA.

    Like Cliff, I don't feel bad for ORDA, etc. They're starting to smell like a corrupt Agency. Keep in mind until these last few months there's been no legal requirements for NY State Agencies to have or even submit to outside independent audits. As far as I'm concerned, ORDA screwed me with Gore's poor performance this season. Next season is shaping up to be a real cluster fudge.

    People like that do not incur my affection but they do incur my attention.
    incoming .................DUCK !

  9. #19
    Check out this new outrageous example of New York Mob Thug style politics.

    http://www.nypost.com/p/news/local/a...HJymnpBLAr7mKO

    Pay the democrats $50,000 apiece and maybe you'll get your funding back. Who gets the money... the State's General fund or the Democrats ? The Democrats do.

    These clowns aren't even worried about going public with their extortion demands! They actually put it in writing and delivered it out to people. They don't use the US Post Office so as to avoid mail fraud/conspiracy charges. During the Senator Bruno trail, it came out that their Lawyers advised them not to use the Post Office for their shakedowns so they could avoid the Criminal exposure.

    There's also a statement that the State pays money to reduce State Employee's Union dues. WTF! Do other Unions get this subsidy?

    NY State is headed for one rocky road.

    We're screwed.
    incoming .................DUCK !

  10. #20
    Here's the ORDA pushback:

    http://blog.timesunion.com/capitol/
    The sea was angry that day my friends, like an old man trying to send back soup at a deli

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