Statement from Steven Libman, former President and CEO of the Center for the Performing Arts:
“Today’s release of the regular annual audit of The Center for the Performing Arts, Inc. fills me with both pleasure and pride. It gives me pleasure because this regular annual audit demonstrates that through the end of the Center’s 2010-11 fiscal year, financial matters were handled with the high standards of care and professionalism that I demanded as President and Chief Executive Officer. Pride because the positive operating results and cash balances demonstrate the extremely fast development of the Center from a building and a vision into a vibrant, successful regional asset for performing arts through the hard work of the Center’s staff.
“Finally, I am especially proud of the Center for ending each of the first two years of operation with a surplus – a great accomplishment for a start-up performing arts center. This wonderful achievement was possible due to the very talented senior staff that I recruited and hired. Their dedication and leadership is what has enabled the Center to continue to move forward successfully.
“I congratulate the Board and the present staff for the Center’s solid performance and wish them the best of luck in the future.
“With respect to the internal review reported by Board Chairman Rollin Dick, I believe any organization needs to increase the sophistication of its financial controls as it grows and matures. At the start-up of the Center, we had a small staff and a very short time to prepare a season. We followed all Center procedures that were in place at the time. Given the success of the Center over the past two years, such items as expense reporting, human resources and contract procedures should be improved continually.”