The delays in getting what should be no more than a copy of a working paper analysis of a GL fund balance are becoming intolerable. Either you or Council needs to intercede to speed this process up.
At the last A&B meeting it was disclosed that the Restricted YMCA R&R reserve balance of $ 435, 832 ( P 43 – 09/30/2012 CAFR ) was overstated by $ 239,357. It was further disclosed that this error was as a result of a clerical mistake by one or more of your staff. This much I believe we all agree on.
I further understood you to advise that the overstatement in the Restricted balance was offset by an exact understatement in the Non-restricted YMCA R&R reserve balance which constitutes a portion of the $ 1,046,037 ( P 43 – 09/30/2012 CAFR ) SUCH THAT between the Restricted and Non-restricted portions …….. the YMCA R&R reserve balance was correct – whatever that amount might be.
At that point you and your staff were asked to provide the following:
- 1) A copy of the adjusting entry indicating who made, and who approved the clerical error referenced above.
- 2) An analysis of the 09-30-2012 Non-restricted Recreation reserve balance of $1,046,037 ( P43 – 09/30/2012 CAFR ) so as to establish
— the YMCA portion, and the veracity of over/under assertion above.
— the other amounts that constitute this balance.
- 3) An analysis of the Non-restricted Recreation reserve balance as at 09-30-2013
As of today’s date not one of these 3 items has been provided, Why is that, and when will this information be disclosed ??
ADDITIONALLY Mark Schaefer recently inquired as to an explanation that the correct portion of the 2005-2008 renovations to the YMCA building have been charged against YMCA R&R reserves. The implications and required assurance rising out of this question are huge because if those renovations are not being properly charged to YMCA rental income then what source of revenue are they being paid from ??
Each of these items need to be clarified before Council takes up the issue of spending YMCA reserve balances that have not yet been demonstrated to be correct. .
On Dec 2, 2013, at 11:21 PM, “Ted Noftall” <Ted@TedNoftall.com> wrote: