This Is our Village

Saturday, May 26, 2012

EXECUTIVE BOARD REGALED WITH TALES OF NON-EXISTENT FINANCIAL WOES - CATCH THE SECOND PERFORMANCE AT THE DELEGATE ASSEMBLY

The following chart was presented at the Executive Board meeting of May 25, 2012:
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It purports to convey a balance of some $10k in the Road Reserves line, implying the inability to pay the $240k owed to M&M Paving. This is, of course a self fulfilling accounting artifact of our ludicrous system of seven checking accounts and the rediculous concept that excess surplus monies in other lines cannot be moved. This is of course absurd. Furthermore, there is no consideration given for future revenues plotted against anticipated expenditures; which indicate that there are plenty of funds to pay ALL obligations, this will be shown in the next chart, which of course  was not distributed in the financial report.
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To put this issue in proper perspective, there is, even after due consideration of our accountant  recomended cushion of one month monies in all budget lines, remaining some one million dollars in cash; more than sufficient to cover the $240k due to M&M!
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So, what is this fear mongering all about? Watch your pockets for the big unnecessary budget increase planned for 2013, which as far as I am concerned, is "Dead on Arrival"
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Fellow Residents, don't fall for it - don't vote for it.
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Dave Israel
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6 comments:

  1. It's too bad that we neglected to vote for a treasurer that knows basic accounting and instead voted back in a woman who quit in a tif, leaving the office to fend for itself, which it did nicely. Instead we re-elect this person who seems to lack loyalty and decent qualifications. I think it is time that we give a basic accounting test to anyone wishing to run for treasurer. Qualifications are important. Electing someone who hates UCO and just wants to tear it down seems counter productive.

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  2. No argument there Mollie.
    UCO is a working service organization not a political toy.
    Fortunately we have a paid full-UCO-time superb bookkeeper who keeps our finances running smoothly. I think a treasurer mostly has to put together a Finance Committee and meet with them to create next year's budget. Recently she said she had not got a committee.

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  3. So glad to see the math laid out showing that CV finances are sound,we can afford to pay our bills, Ms. Tetro's scare tactics are unfounded, and Ed Black had us on the right track all along. Our new/former once-quit Treasurer got herself elected by crying foul ("The money isn't there to pay our bills"), and when questioned, she chalked it all up to a "difference in philosophy" (code for "I really don't have the facts to back up my accusations"). If her stock in trade is to accuse others of wrongdoing, perhaps she thinks she can take the focus off her own performance in a role for which she is uniquely unqualified.

    We don't need padded line items to protect against costs that are already accounted for. We need a Treasurer who can do the math.

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  4. Ok, so why can't the UCO accountant give some statement as to the veracity of our finances and put this issue to bed?

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  5. Hi Bill K,
    May 28, 2012 11:29 PM,

    Our annual audit is in progress.

    Dave Israel

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  6. Once the audit is done, everything will be verified, right?

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