The forensic audit identified key areas that contributed to the financial difficulties at Westerner Park. Broadly, these findings are related to the financial and business decisions surrounding the expansion of the exhibition hall; inaccurate revenue projections for CFR; deficiencies in financial controls and processes; lack of qualified finance staff; and a failure to market the new exhibition hall appropriately.
In addition to these key areas, several other key factors were identified as impacting the financial success of the organization: changes to Board governance; multiple projects occurring concurrently; lack of clarity regarding Board communication; and use of Westerner Park’s Major Maintenance Fund.