Download - 9-Red Flags Spreadsheet
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DetroitShoreway 12/31/2009 4/20/2009
GalionBigFourDepot Financial 12/31/2009 4/20/2009
HaleFarmandVillage 9/30/2009 4/20/2009
JohnnyAppleseedHeritage
Center Financial 10/31/2009 4/20/2009
RequestforRenewal;
BalanceSheet;Bank
Statements 161,536$ 423,412$
LincolnTheatre 6/30/2009 4/20/2009 1,704,866$ 17,255,946$
NationalAviationHallof
Fame Financial 12/31/2009 4/20/2009
NoticeofCancellationof
Insurance;Requestfor
RenewalLetter;Quarterly
CampaignReportasof
9/30/09;Statementof
Account;EscrowAgreement 1,777,485$ 106,187$
NationalUnderground
RailroadFreedomCenter Financial 12/31/2009 4/20/2009 7,718,885$ 1,076,256$
OxfordCommunityArts
Center 3/31/2009 4/20/2009 162,388$ 23,572$
RenaissanceTheatre 6/30/2009 4/20/2009
990TaxForm,Balance
Sheets 4,013,633$
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Sandusky
State
Theatre Financial 12/31/2009 4/20/2009
Copyofgas,electricand
insurancebills; Statementof
ActivitieswithBudget;
StatementofFinancial
Position
with
Previous
Year 163,868$
69,516$
Schuster PerformingArts
Center 6/30/2009 4/20/2009
RequestforRenewalLetter&
EndowmentFundBalance
Memo 5,573,642$ 5,198,058$
ImaginationStation(COSI
Toledo) 6/30/2009 4/20/2009 22,214$ 20,030$
ValentineTheatre 6/30/2009 4/20/2009 323,417$ 303,655$
WestSalemVillageOpera
House Financial 12/31/2009 4/20/2009 2008AnnualReport 130,508$ $
ZionCenter 12/31/2009 4/20/2009
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2008TotalDebt 2008TotalAssets 2008DebtRatio 2008ChangeInNetAssets AnnualObligationFinancial
IssuestoEscalate DetailedWrittenReport
Required
DetailedWrittenReportSubmitted
ProjectedScheduleofEventsRequired
ProjectedScheduSubmitte
No No
2,496,658$ 20,138,082$ 0.12 (209,826)$ Yes Yes
$ 256,132$ 0.00 (15,988)$ No
1,247,238$ 3,490,702$ 0.36 (398,289)$
FYE8/31/08,nofinancialsfor
2009completeyet Yes Yes
No
236,608$ 2,308,374$ 0.10 27,600$ YTD09's(Jul08Feb09) No No
No No
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No No
No
No No
236,000$ 4,210,540$ 0.06 (16,800)$ No
359,000$ 6,149,966$ 0.06 3,241,169$ n/a No No
$ 4,310,379$ 0.00 (334,338)$ No 1/9/2009 Yes
46,000,000$ 110,815,207$ 0.42 (9,585,579)$
CurrentlegforFederalgov't
totakeover,their
predepreciationlossis
improvingYTD09's(Jan09
Jul09) No No
$ 1,440,726$ 0.00 122,933$ Yes 8/14/2009 Yes
444,748$ 9,259,411$ 0.05 50,077$ Yes 5/20/2009 Yes
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$ 3,753,761$ 0.00 (16,232)$ 09basedoffYTD9/30/09 Yes 4/27/2009 Yes
11,900,000$ 103,545,766$ 0.11 (6,231,999)$ Yes 1/15/2009 Yes
$ 1,864,706$ 0.00 (469,861)$ No
$ 6,995,829$ 0.00 (220,688)$ FYE6/30/08,noFYE09yet No
$ 270,991$ 0.00 24,277$ No
No No
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AuditedFinancialsStatementsRequired Audited
FinancialStatementsSubmitted CertificationLetterRequired Certification
LetterSubmitted
EmergencyProceduralManualRequired Emergency
ProceduralManualSubmitted Insurance
CertificateRequired
InsuranceCertificateSubmitted
No No No Yes
Yes 6/25/2009 Yes 6/25/2009 Yes 6/25/2009 No 3/6/2009
No Yes 5/14/2009
Yes 1/9/2009 Yes 1/9/2009 Yes 1/14/2009
No No No
No No No
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No No No Yes
Yes 6/3/2009
No No No
Yes 2/28/2009 Yes 2/28/2009 No
No No No
Yes 1/9/2009 Yes 2/2/2009
No No 1/16/2009 No 1/16/2009 No
No Yes 8/14/2009 Yes 8/14/2009 Yes 8/14/2009
No Yes 5/21/2009 Yes 5/20/2009 Yes 5/21/2009
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No 8/7/2009 Yes 5/29/2009 Yes Yes 5/13/2009
Yes 1/15/2009 Yes 1/5/2009 Yes 1/15/2009 Yes 7/7/2009
Yes 9/1/2003 Yes 9/14/2009
Yes 5/15/2009 No Yes 8/10/2009
No Yes 6/16/2009 No
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Creditratingdropped
accordingtoD&B,will
continuetomonitor,last
reportwasinFallof2009.
Theyareonfiscalwatch BLUETEAM
TCandBWhavemeetingin
Dec2009.Theyneed
Guarantorasof11/19/2009. YELLOWTEAM
REDTEAM
Stillnotfullyfunded,LPS
anticipatesfundingbyfirst
quarterof2010. Yes GREENTEAM
Recommendremovingfrom
redflag,Guarantyreceived
andapprovedon
11/17/2009. GREENTEAM
LPSisanticipatingbeing
transferedtoFedGovand
whichpointan operating
budgetwouldbe
supplementedwhichcould
resolvefinancialconcerns GREENTEAM
TCspokewithLPSinOct
2009,urgingthemtocomply
withOCFCstandardstoget
reimbursed. GREENTEAM
Recommendtakingoffred
flaglistandisonitwastobe
completeproject in1/2010,
theyreceievdatwoyr
operatinggrant,which
shouldsolvetheir
sustainabilityissuesfortwo
years. GREENTEAM
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LPScontactedBWandare
wishingtomoverforward.
ARcontactedon11/18/2009
withitemsneededtomove
forward. REDTEAM
FinancialConcerns,TCto
reviewfinancials GREENTEAM
LWhadcontactwithLPSon
11/19/2009,constructionis
almostcomplete,under
budget,openingand
attendancehasgonewell
according
to
LPS. BLUE
TEAM
Ottodraftingletterregarding
quarterlyreports. Yes BLUETEAM
REDTEAM
LPSfinallyreadytosign
agreements. GREENTEAM
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