ORDA has released this seasons financial report. Here are the Whiteface numbers:
Here are the Whiteface numbers from last year's report:
While the numbers for the skier visits remained the same for the previous years the revenue numbers have been changed in the previous years. There are no notations for this discrepancy.
Maybe the accounting rules changed, but if this is the case there should be notes to explain the changed revenue in previous years. It could be an error. It could be somebody trying to hope nobody notices the change.
To me, it just goes to show ORDA can't be trusted. Some of those years are off by over a million dollars/10 % +. That's alot. It's not like ORDA is a Billion $ Corp w/ a gazillion liability entries and global laws to deal with. They're a pretty small operation and this chart reflects the simple entry of revenue paid by skiers, et al. A few keystrokes would reveal that answer.
Likely, no one at ORDA even bothered to reconcile this new chart with their other " releases " prior to publishment. Sometimes people who are too busy patting themselves on the back get careless....opps!
IMO, I don't go for this crap of accounting practices changed, blah blah BS. I know it's an oft told explanation but I don't buy it.
Numbers are numbers. When they start shuffling the cards too much, they're practicing sleight of hand. Seen it done before and it turned out people were lying. Just my experience.
Wonder what their " prestigous " auditors/accounting firms filed on their behalf for those years.
Maybe Cuomo/ Uncle Sam are gonna get serious with these nebulous agencies and they felt they better start to come clean.
I should add I have absolutely no doubt that Belle's financial numbers are similarly fudged up.
This is why those citizen's groups down there can not get a straight answer on the simple question from the DEC ....is Belle profitable or not?
I would say it is. That is why the DEC will not definitively put this very simple question to bed for them. After years of saying Belle loses money, the DEC is in a hard place now. If they continue to say it loses money and then it turns out it doesn't, then their deception is exposed.
They don't want anything more on the record as it may end up in Court now and the powers of discovery come into play. So they Sgt. Schultz it..." I know nothing ! ".
...you'll see the at the bottom I'm crediting three sources - the ORDA 2010 Annual Report, the ORDA 2011 Annual Report, and just ORDA. What I have there is all the historical numbers (2004 - 2010) are quoted from the 2010 report and the numbers for the 2010/2011 are from the 2011 report.
The exception is the 2010/2011 numbers for Gore weren't in the annual report - I got them directly from Gore.
I asked Jon Lundin about the difference. He said:
"We didn't capture all of the revenue from 2009-10. The new numbers are the actual audited numbers."
I followed up, asking about all the numbers back to 2005-2006. All the Whiteface numbers back to that date are different, some higher, some lower:
"This is true and upon audit we discovered this and corrected the situation."
I wish I understood what caused the difference, but I don't think I am going to get more than this.
"You just need to go at that shit wide open, hang on, and own it." —Camp