Rdc Budget Shows Deficit of $88k -- Cut Down On Revenue, Tourist Visits, Corporation President Says

Summary

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Its major revenue sources drowned out by historic flooding, the Riverfront Development Corp. posted the first operating budget deficit in its decade-long history during fiscal 2011.

The non profit firm that received $2.64 million from Memphis to manage and develop city parks and facilities along the Mississippi River lost $88,901 during the fiscal year that ended June 30, budget figures show.

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Rdc Budget Shows Deficit of $88k -- Cut Down On Revenue, Tourist Visits, Corporation President Says

"This year we had to pull out our reserves a little bit, but that's why you have reserves," said RDC president Benny Lendermon.

The primary reason for the deficit was...

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