Audit finds checks in place for Dome management

  • Updated: July 26, 2011 - 7:15 PM

What: An audit of the Metropolitan Sports Facilities Commission, which operates the Metrodome. The board has six commissioners appointed by the Minneapolis City Council. Chairman Ted Mondale was appointed by the governor.

By whom: The state legislative auditor's office, which conducted a routine survey of the commission's accounting practices and financial safeguards.

Findings: The commission's financial statements for the year ended Dec. 31, 2010, were accurately presented. No deficiencies existed in controls over revenues, concessions, payroll expenses, operating expenses, cash and investments and capital assets.

Finances: The commission reported a net loss of $4.1 million in 2010 with operating revenues of $20 million earned primarily through concessions sales at Metrodome events.

Assets: The commission had net assets of $26 million at the end of last year.

Liabilities: The commissions largest was $2.3 million.

Roof collapse: Insurance covered all but $25,000 of the cost for repair of the Metrodome's roof. (Does not include the recently submitted claim for new turf.)

ROCHELLE OLSON

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