Tag Archives: Regent Theatre Trust

DCC laundering – wring out Regent Theatre Trust, pump DVML

Regent Theatre, Octagon [via flickr 5039845005_c715d44921_b] 1Photo: Dunedin NZ

Received from John Evans
Mon, 18 May 2015 at 5:29 p.m.

P26 ODT Saturday May 16.

In an article headed Stadium sound on agenda, included some apparent proposed changes for DVML, one being the stripping of the rights to sell DMVL venues from the Regent Theatre Trust, considered an anomaly by the DCC or DMVL or both.

The nett effects

1. Immediate reduction in income of $110,000 to the Regent Theatre Trust. However the DCC are going to suggest a donation of $110,000 as a grant to the trust (unearned).

2. An increase in staffing levels for DMVL (to sell the tickets).

3. No reduction in ratepayers’ costs.

4. A presumed increase in DMVL income (gross but not necessarily nett) DCC looks better in financial accounts (hopeful).

5. Lost opportunity costs (the recipient of the $110,000 if the DCC did not give it to the Regent trust).

This is what is called by forensic accountants, creative accounting.

Humans call it robbing Peter to pay Paul.

Posted by Elizabeth Kerr

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