ORDA Posts Updated Financials

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ORDA Posts Updated Financials

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.

Anybody have any ideas?

ORDA 2010-2011 Annual Report
ORDA 2009-2010 Annual Report

Snowballs Snowballs
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Re: ORDA Posts Updated Financials

Good catch X.

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.
Snowballs Snowballs
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Re: ORDA Posts Updated Financials

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 ! ".
Jamesdeluxe Jamesdeluxe
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Re: ORDA Posts Updated Financials

Wait a second, I thought that Belleayre was the enemy and ORDA did everything by the books.
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Re: ORDA Posts Updated Financials

Jamesdeluxe wrote
Wait a second, I thought that Belleayre was the enemy and ORDA did everything by the books.
It just depends on which books.
ausable skier ausable skier
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Re: ORDA Posts Updated Financials

I see what they did - they added the summer revenue to the winter revenue to get a total.  It might be technically correct but its certainly misleading
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Re: ORDA Posts Updated Financials

ausable skier wrote
I see what they did - they added the summer revenue to the winter revenue to get a total.  It might be technically correct but its certainly misleading
Really?
You may want to use a calculator next time. None of the numbers match adding summer and winter revenue, including a reduction in revenue 05/06 and 06/07.
Harvey Harvey
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Re: ORDA Posts Updated Financials

I reached out to Jon Lundin at ORDA to see if he could shed some light on this.
"You just need to go at that shit wide open, hang on, and own it." —Camp
Snowballs Snowballs
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Re: ORDA Posts Updated Financials

Harvey44 wrote
I reached out to Jon Lundin at ORDA to see if he could shed some light on this.
 
Aw, wish you hadn't done that.
Harvey Harvey
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Re: ORDA Posts Updated Financials

In reply to this post by Harvey
I actually noticed this on July 7. If you look in our blog entry that serves as our record...

http://nyskiblog.com/orda-skier-visits/

...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
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