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5/8/2018 10:13:32 AM
 
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Section 5: OPA Board Subject: Legum & Norman Proposal Msg# 1013018
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Are you able to provide any info publicly on the nature of the issues you mention?
Brett, These were not grave errors and there was no fraud - some were due to human error or just a difference of opinion on which general ledger accounting code income/expenses should be booked under. On a positive note, PKS (our audit company) and not L/N discovered The Parke was paying MD tax on electricity. As a non-profit, we are exempt from MD tax. This discovery lead to over a $10K refund from the State of MD. Tom |
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For reference, the above message is a reply to a message where: Tom, Are you able to provide any info on publicly ln the nature of the issues you mention? For example, were these clerical errors or issues of fraud? Did the audits show funds missing? Did the transactions affect payroll or tax filings? Also, what were the size of the issues, and what % of the total budget was in error? In the last audited report for OPA, there was a AJE for over $65k for golf, which reflected in a major change in the posted loss for the year during the audit. That was one department alone. Human error in unavoidable, and no one is infallible. The % of accuracy, and how the errors are handled makes all the difference. Brett |
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