The Board of Directors’ explanation for delay in releasing 2008 audited year-end Financial Reports was puzzling. In his July 1, 2009 Affidavit to the Florida State Department of Business and Professional Regulation, board V.P. George Lauth claimed that:1. The “Audited” Financial Report was received too late to make the state-required April 30 deadline for release to BCC owners; and,
2. On receipt, “errors were noted by the Association’s accountant” and investigation and correction was required.
The facts are:
A. The report was available for review April 13 and, despite numerous reminders and promptings from various sources, was not included on the April 23 BOD meeting agenda or even reviewed by BCC’s Treasurer until early June.
B. “Errors …noted” were confined to rental and dock deposit accounting. (More on deposit accounting follows.) These problems were certainly apparent in the September 2008 (if not earlier) monthly Financial Reports. Why wasn’t a correction made earlier in the year?
C. Delay in releasing year-end financials was caused by BOARD failure to do their job. An identical failure in 2003 (made by mostly the same people) resulted in a $4,800 fine from Florida State.
3 comments:
The auditor doesn't make the mistakes - he works only with the figures that the Board gives him. It's when the Board wants changes to mask shady doings that the auditor runs into trouble. He's a MATHEMATICIAN - not a MAGICIAN! He can't make "bad calls" disappear - poof! He can be creative, but not crooked.
This latest posting is further indictment of our feckless bod who it appears have a serious problem when it comes to accounting for our money. Spending our money has never been their concern. Tonight for example, I chanced to check out Rec 3 and discovered to my dismay that you could hang meat in there. It is so cold and appears that even without any activity scheduled we are paying to run the air conditioning 24/7. This is a serious waste of our monies, keeping the recreation buildings for cold storage. What idiots authorized this shameless waste of our money on needless utilities when no one is using the facility? Who can we get to solve this stupid decision?
Lies - lies - lies ... and have you noticed? It's NEVER their fault - it's ALWAYS someone else's fault. I heard Pete blame JOANNE for what he called a "glitch" in the financials - Joanne has absolutely NOTHING to do with the financials - it's either the CPA's fault or Pete's. These people are cowards and wouldn't admit to a murder if they were caught with a bloody knife in hand over the body!
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