A question was raised by “one” who alleged President Israel signed for the 2010 Audit “showing the estimated repaving cost of $ 4,000,000.00 while knowing full well that the bid/contract was $ 5,000,000.00”!
Clearly the Audit shows that the proposed budget for funding the “Road Reserves” for 2011 was $ 250,000.00 based on the assumption of a $ 4,000,000.00 total cost, down from the 2009 and 2008 proposed assumptions of $ 4,500,000.00. This is a part of the Budget proposed for the Delegate Assembly to approval in October each year. Each Audit addresses the History rather than the new information that may have been received many months after the audit details have been completed. This “information”, as is normally shown, is 'like' “minutes” as confirmed by the Auditor in his review of our records, for the Officers and Board of directors to read.
A review the “History of the Audits” shows the 2008 & 2009 estimates for repaving were $ 4,500,000.00. Each year the Treasurer proposes to the Finance Committee and they recommend the approved “proposed budget” onto Officers Committee and Executive Board and finally to the Delegate Assembly for Approval.
This should not be hard to understand but, hopefully this will have made this CLEARER!