In a new report, state auditors said UTOPIA's "loss of over $18 million in fiscal year 2011 increased its total deficit to over $120 million."
It wasn't, said auditors, supposed to be this way. In 2003, the plan was to "achieve a positive cash flow in five years."
But auditors said the entity, which gets sales tax money from 11 Utah cities, has suffered from "poor planning, mismanagement, and unreliable business partners."
Kutv.com
No comments:
Post a Comment