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3/6/2012 6:12:53 AM
 
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Section 5: OPA Board Subject: OPA Loses IRS Case Msg# 823728
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Joe:
The committee has recommended that the budget address and book the liability. I do not believe there is a word in the recently approved budget with regard to this $1,000,000.00 liability. In fact the only mention I can find is in the opinion and notes to our audited statements. Of course you are right, it makes no difference since this board ignores the budget. Marty |
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For reference, the above message is a reply to a message where: The Budget & Finance Advisory Committee did recommend that the board do exactly that in the recently approved 2012-2013 budget. The Board of Directors chose to ignore that recommendation based on a memorandum dated January 20, 2012 from the Treasurer Mr. Peter Gomsak. What "contingency plan" did the committee recommend in the last few months that could possibly be of any value? There is no "contingency" possible, other than taking from reserves or a special assessment. |
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