What is the Panida Board hiding on its finances?

When the finances are drying up and they are laying off staff, this month they stopped posting full financial reports. They posted a "treasurer's report," basically a snapshot without details of debt, unearned income, obligations, etc., as they have in the past.

They posted a loss in June of over $20K and only a small gain in July. They are literally living off of advanced reservation deposits, popcorn sales, and beer sales at events. That doesn't pay the bills and invest in the future.

We all saw the Festival cancel shows due to smoke, and all of those tickets had to be refunded. What if the Festival said, "sorry, we spent your money." That is what Panida is doing. They are spending the advanced ticket sale as fast as it comes in just to pay bills and payroll. Now they stopped putting out the financials to hide it. 

Panida Board, time to print the full financials and come clean with the community that has supported you. 

When they close their doors, which is coming due to mismanagement by the Board, bands that are booked will not get their contracts paid, venues that have paid 50% deposit to hold their booked dates will not be refunded and ticket holders won't get their money back, local businesses won't be paid, debts and obligations ignored when they become insolvent. 

Panida Board, what are you hiding?

SUZANNE GLASOE

Sandpoint