LOUISVILLE, KY (WAVE) - At its monthly meeting Thursday afternoon, the Fairboard approved a financial audit that showed a $9,500,000 loss in fiscal year 2011-2012.
Board Chairman Ron Carmicle said about half of the loss was a result of the University of Louisville moving basketball games to the KFC Yum! Center and the closing of Kentucky Kingdom.
The Fairboard, which manages the state-owned Kentucky Exposition Center and Kentucky International Convention Center, has been struggling financially in recent years.
"Our challenge going forward is, you know, we're going to have to increase revenue," Carmicle said, "And we're going to have to do what all businesses do now is try to find out how we control expenses as a state agency."
Carmicle said there has been no communication with the State about the Kentucky Finance and Administration Cabinet's request for proposals for new operators at Kentucky Kingdom.
Also at the meeting, the Fairboard approved the contract of incoming CEO Clifford "Rip" Rippetoe. Carmicle said Rippetoe will be paid $250,000 a year, with $25,000 for moving expenses and a $25,000 per year travel budget. Rippetoe starts January 1, 2013.
Wednesday, June 19 2013 1:06 PM EDT2013-06-19 17:06:50 GMT
LOUISVILLE, KY (WAVE) – The name of the woman killed in a crash Tuesday night between a motorcycle and a car has been released. The coroner's office said Stacey R. Allen, 48, died from multiple injuriesMore >>
The crash happened around 10 p.m. Tuesday at Bluegrass Avenue and Taylor Boulevard when a car making a left turn struck a motorcycle.More >>
Wednesday, June 19 2013 9:29 AM EDT2013-06-19 13:29:19 GMT
NEW WEST MINISTER, CANADA (WAVE) - A second grader with a disability was seemingly shunned during a class picture. For Anne Belanger, the photo was completely unacceptable. Her son, Miles, was pushedMore >>
A second grader with a disability was seemingly shunned during a photo shoot at his elementary school.More >>
Wednesday, June 19 2013 1:46 PM EDT2013-06-19 17:46:12 GMT
LOUISVILLE, KY (WAVE) - One person was killed in a crash along I-65 in Bullitt County near the 110 mile marker. The accident occurred overnight. According to police, the driver was heading south whenMore >>
One person was killed in a crash along I-65 in Bullitt County near the 110 mile marker.More >>
Wednesday, June 19 2013 3:04 PM EDT2013-06-19 19:04:41 GMT
LOUISVILLE, KY (WAVE) - Former Roman Catholic priest James Schook did not appear before a judge Wednesday as expected. Instead, an attorney for Schook said the stage four skin cancer patient was in hisMore >>
James Schook did not appear before a judge Wednesday as expected. Instead, an attorney for the former Roman Catholic priest said the stage four skin cancer patient was in his final days of life, and thus incompetent to stand trial.More >>