Lerner board accepts written financial report showing operating income but year-to-date loss

The Lerner Theatre governing board accepted a written financial report after a remote presenter could not be heard. The written figures shown to the board reported net income from operations of $656,286, an increase of $39,567 compared with the prior period; the year-to-date net loss for all Lerner operations (including city expenses) was reported as $573,662, a decline of $622,012 from the prior statement.

Board members discussed that on budgeted city operation expenses the Lerner was under budget by $236,791 at the time of the report. The report also summarized revenues from specific successful shows, with box office totals referenced for recent events.

Because the presenter could not be heard over audio problems, the board accepted the written report and moved to approve acceptance; the motion was moved and seconded and passed by voice vote.

The board asked that staff continue to provide monthly written reports and to attempt to resolve the remote audio issues so presenters can report directly in the meeting.