KANSAS CITY - Auditor Scott Fitzpatrick's report finds inadequate funding exists currently to make necessary repairs to the Dome at America's Center.
According to the report, the Dome will require an estimated $155 million in repairs and maintanace over the next ten years. However, the Regional Convention and Sports Complex Authority, or RSA, only has a cash balance of $89 million as of December. This includes the funding the RSA received as a part of the settlement with the NFL from the Ram's lawsuit.
Further adding to the financial shortfall, the report says many revenues generated by events and activities at the Dome do not go toward funding the Dome's preservation. It lists admission for events at the Dome, money spent by those attendees out dining or staying in local hotel as revenue that is not going towards maintaining the Dome.
A major hurdle, a complicated lease agreement with the Convention and Visitors Commission, or CVC, dating back to 1991.
According to the audit, the lease allows the CVC to market the space and attract vendors and events. The RSA does not receive any money from these events, the CVC does. Despite the revenue the CVC receives from events at the Dome, they are not obligated to assist the RSA with preserving the Dome.
The audit recommends the RSA pursue additional recurring sources of revenue, which it says currently they have taken "no significant effort," to do so.
The report also found "significant weaknesses," in the oversight of the RSA's planning while attempting to keep the Rams in St. Louis.
It found there was "essentially no procurement process or oversight," of what the RSA was getting when it spent $19.4 million on the failed riverfront stadium project.
The report says of the 30 invoices audited 20% were found to not indicate the product or service provided by the vendor but were still approved for payment by the project consultant on behalf of the RSA.
However, Auditor Fitzpatrick says depsite "missteps," in years past, he commends the current RSA commission for taking the challenges they are facing seriously and are "beginning work towards a plan to right the ship."
Lastly, the audit turned its focus to St. Louis County's handling of their portion of the Rams Settlement Money.
It found the County Council decided to spend $56.2 million of the $169 million they received from the settlement without a formal process to evaluate potential uses.
While it acknowledges the County has spent the money appropriately, committing the one time funds to infrastructure projects, it says the Council has not gone through a process "to establish potential needs and identify the most effective and strategic use of the funds."
The report contrasts this with St. Louis City and the RSA, which have not allocated their funds while developing plans on how to best spend them.
KMOX has reached out to both a spokesperson for the RSA and for the Auditor seeking further comment.