The city of Florence has taken to including long-range financial planning in its budget process over the past year, and the relatively new system has changed the way many projects are considered and has also sent up a red flag or two.
Most recently the process revealed that if the economy does not change in the upcoming years, the Florence Events Center will face serious financial difficulties. The new council met Jan. 12 to set its goals for the year, and the future of the events center continued to hold center stage. Financial reports outlined the center’s potential problems.
“Financial forecast indicates if revenues and expenses remain the same, it’s projected the FEC could begin going in the red by 2017,” said Kevin Rhodes, director of the FEC.
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