Louisville Arena Authority accepts state audit ahead of scheduled Thursday release
Details of the audit were not disclosed, but arena authority chairman Scott C. Cox told the board there were no major surprises in the review of its financial statements.
LOUISVILLE, Ky. (WDRB) -- During a brief telephone meeting on Wednesday, the Louisville Arena Authority authorized its chairman to accept Kentucky Auditor Mike Harmon's review of the board's financial statements.
Chairman Scott C. Cox also echoed comments he made earlier this week that the audit doesn't contain any significant surprises.
Harmon's office has scheduled a Thursday release of the audit of the arena authority, which oversees the finances of and contracts associated with the KFC Yum! Center.
The arena board voted to let Cox send a letter to Harmon accepting the audit. Even though a copy of the report has been circulated among authority members, its content was not discussed.
"I don't think it's appropriate for us to disclose a copy of the audit or really talk about it in public until he's had an opportunity first to do that," Cox told board members,
During a meeting at which most members joined by phone, board member Lindy Street asked Cox if there were any "major surprises." Cox replied: "The answer is no."
Cox, who led the five-minute meeting from a conference room at the Yum! Center, declined to share details of the audit with reporters who attended or answer general questions about it, including whether he was pleased with the findings or if the board challenged any of Harmon's conclusions.
He also declined to say how many findings are in the audit.
Asked about the audit at the board's regular meeting on Monday, Cox said: "I don’t think there’s … any smoking guns or anything. Apparently things are fine, which I anticipated.”