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Commission presses Paramount for detailed ledger after $750,000 cumulative budget increase request
Summary
Commissioners asked the Paramount to provide a detailed general ledger after staff recorded a cumulative $750,000 increase in budget authority requested since January; auditors are scheduled July 13 and staff said they could withhold payments if records are not produced.
Ashland commissioners pressed the Paramount’s designated contact on June 25 to produce a transaction‑level general ledger after staff reported the venue is seeking approximately $750,000 in additional budget authority since January.
City staff said the city received a high‑level financial statement and a summary of revenues and expenses but not the general ledger that auditors need to validate transactions. “They are contractually obligated to provide us financials,” a finance representative said during the meeting, and auditors were scheduled to be on site July 13.
City staff outlined the numbers presented by the Paramount: roughly $184,000 in revenue and about $451,000 in expenses reported in the statement, plus utility and insurance costs the city has been covering, and projected additional June expenses that together contributed to the larger cumulative figure. Staff said the Paramount had not yet requested payment for the current month and reiterated that the commission could withhold disbursements until records are produced.
Commissioners asked for a prompt submission of a general ledger and supporting documentation to the finance office so auditors can select and audit items. One commissioner noted the city’s responsibility to taxpayers and said the ledger should be a priority.
Next steps: Finance staff will request the general ledger and, if necessary, recommend holding payments until records are available; auditors will begin on‑site work July 13 as planned.
