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7/17/2017 1:15:14 PM
 
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Section 5: OPA Board Subject: Motion to Remove Director Trendic Msg# 988212
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I too think that a complete forensic audit, although costly could benefit the OPA. I may be mistaken, sounds like one hasn't been done for quite awhile, if ever. Using the cost of $100,000, of which I have no idea of or what to base on; in my opinion, would be capital well spent to review operations, determine whether policy and/or procedure changes are warranted, and make recommendations going forward.
Given the net revenue/expenses of over $5M, and over $9M in reserve funds; a small cost to ensure financial responsibility and sound financial direction for the future. Not to imply that's not happening now, always good to confirm with constructive input. Thanks for sharing your thoughts |
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For reference, the above message is a reply to a message where: I think Jeff Knepper suggested a number in an earlier post. I'd be reluctant to try to answer the question. As you can see, I asked Trendic about the scope of the audit that he had in mind. That's the important aspect. Depending upon the scope, I've paid accountants several hundred thousand to complete them. I've also had accountants do very focused audits of certain areas of a business, looking for hidden assets that I as a trustee could recoup (including preferential or fraudulent payments to creditors). I've long advocated a focused audit of the YC because of the strange Cost of Goods Sold numbers. |
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