Audited financials show larger deficit

Management finally released audited financials late in the day on Friday for the fiscal year ending June 30, 2016. There were significant changes from the numbers distributed to cooperators in December just before our annual meeting — instead of a $1.4 million operating deficit, the coop instead showed a deficit of $2.3 million. This comes after last year’s 11% maintenance increase.

Thin lines show original numbers reported. Thick lines show audited numbers.

Budget projections anticipate another deficit this year of almost $1 million, even with optimistic flip tax expectations. Sales records through the first half of this fiscal year show that flip tax revenue is near a 5-year low.