ISC reorganization plan should bring transparency
Jan 6, 2012 at 8:48 AM
aThe International Storytelling Center has been through a difficult year of readjustment and 2012 promises to bring even more change to the organization.
As Press staff writer Sue Guinn Legg reported earlier this week, the ISC has filed a proposed plan of reorganization under Chapter 11 bankruptcy that includes giving up its signature building on Main Street in Jonesborough and bestowing a new title with new duties on the organization’s founder, Jimmy Neil Smith.
Smith, who has served as ISC’s executive director as well as a member of the board of directors, will now be called ISC president emeritus. In this role, Smith will concentrate on consulting, development and marketing, and will no longer have direct input into the financial management of the center.
This is a wise move, and one we suggested when ISC announced it planned to file for bankruptcy early last year. Although unfortunate, the bankruptcy reorganization has given the ISC and its board of directors an opportunity to be more transparent in its financial dealings.
Considering the amount of public funds going to the ISC, we think it is essential the board provides an annual breakdown of all ISC’s finances and expenditures to government leaders and taxpayers.
This community has made a substantial investment in the ISC. Federal, state and local governments have contributed tax dollars to see that the ISC and its programs are a success.