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Published: Tuesday, 11/13/2007

Toledo firm to be paid as much as $7,000 for Citifest audit

BLADE STAFF

The Finkbeiner administration today hired Toledo accounting firm Mira + Kolena to conduct a financial analysis of CitiFest Inc. s finances, at a cost of up to $7,000.

Brian Schwartz, spokesman for Mayor Carty Finkbeiner, said a contract was signed today. He said the city expects to receive the accountants findings in about two weeks.

The mayor ordered an independent audit after learning Oct. 30 that CitiFest had a $40,000 overdraft in its checking account and was requesting funding of $91,848 from the city. CitiFest s bank stopped covering checks Nov. 1, meaning about 13 employees have gone unpaid.

CitiFest, an independent nonprofit agency that organizes concerts in Promenade Park and parades downtown, said the $91,848 would reimburse CitiFest for operating losses suffered by the Erie Street Market, which CitiFest manages.

Read more in later editions of The Blade and toledoblade.com



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