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Internal audit finds venue operator failed to provide required financials; administration issues notice of default and posts RFPs
Summary
An internal audit of the contractor running Sullivan Arena, Ben Bokey and Dempsey found 14 contract compliance failures — including missing audited financial statements, uncollected ticket surcharges, missing bonds and late or missing reports. The administration issued a notice of default and opened separate 30‑day RFPs for Sullivan and for Bokey/Dempsey.
An internal audit of the private operator managing Anchorage’s Sullivan Arena, Ben Bokey and Dempsey facilities found multiple contract compliance failures that the municipality says have left it financially exposed and with limited leverage to enforce the contract.
The audit’s lead presenter told the Anchorage Assembly that the most serious finding was that the contractor did not provide audited financial statements required by the contract, leaving auditors unable to verify revenues, incentives and profitability. The presenter listed a total of 14 findings, including inconsistent contractor records, improperly calculated revenue incentives, uncollected ticket surcharges, missing performance and…
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