In 2005 the GTHL passed bylaw Rule 1.3 Publication of Financial Summary which among other things requires the GTHL board to to publish and distribute an audted income statement, balance sheet and the typical financial commentary that accompanies with financial statements. The GTHL has yet to publish these statements, and while they are not accused of financial irregularities they have never explained the massive gape between published and actual ice costs. Here's the deal::
- GTHL Claims they spend $3.7 million on ice last year</li>
- GTHL schedule had 12,000 hours of ice (www.gthlcanada.com schedule off Bladenet) </li>
- GTHL buys 60% of their ice from the City of Toronto at $165/hour (City of Toronto Ice Rates). This equates to 7200 hours @ 165/hr or $1.2M</li>
- GTHL buys the remaining 40%, or 4800 hours from private rinks which works out to an average of $530/hr.</li>
Should they have to disclose private contracts?