Description: It’s controversial. But in a 7-2 vote Moncton city council voted to provide $100,000 of taxpayers’ money to an upcoming UFC card in the city’s new entertainment complex. The use of public money on a sporting event is drawing lots of media attention. Those that voted for the move relied on staff reports talking about the economic benefits of such an event.
Date: October 3, 2018
1) What do you think of a city government subsidizing an event like this?
2) If you were an accountant providing advice to the city council, how might you go about calculating the costs and benefits of such funding?
3) Where can you read about accounting for municipal governments in Wiley’s Advanced Accounting?