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7/17/2017 1:32:03 PM
 
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Section 5: OPA Board Subject: Motion to Remove Director Trendic Msg# 988217
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I'm not opposed to a general detailed audit but I think it's a decision I would like to reserve for the new general manager to be part of rather than one imposed by the board who are not skilled in this area. The new GM may feel that he/she would prefer delaying the attendant disruption while getting settled in the job.
One of the criticisms I've seen leveled against this board is that they changed the accounting firm that had been doing the audit for about 20 years or so. (I know Clarke has been calling for this for years.) It's good practice to do this from time to time and I expect that the new firm was very detailed as they came in to avoid taking on any past errors as their own. I'm betting that the association paid extra for the new firm to come up to speed and were made aware of any glaring errors. |
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For reference, the above message is a reply to a message where: 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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