With Mitchel Cohen telling conflicting stories regarding WBAI's current financial status, a California AG audit scheduled to begin in February, and Berthold Reimers painting rosy pictures that inevitably prove to be fakes, interest in seeing real figures has heightened.
When Reimers had to give a quarterly financial report at the recent WBAI LSB meeting, he spun the usual fantasy and admitted to not being comfortable with the accounting software used by Pacifica. As usual, he raised more questions than he answered, so Tracy Rosenberg made some comparisons between his figures and those recorded by Pacifica's controversial CFO.
Tracy Rosenberg posted:
The spreadsheet given out at the WBAI local station board meeting by GM Berthold Reimers, presumably generated in Quickbooks, has rather astoundingly different income numbers for WBAI in the first two months of FY2015 than those provided to the PNB by CFO Salvador and the NFC in the "income recap document" on January 8th.
Somehow WBAI booked $95,322 dollars more in October and November of 2014 than the national office recorded as of the first week in January 2015:
Reimers October revenue: $155,373
Salvador October revenue: $128,796
Reimers November revenue: $245,531
Salvador November income: $176,788
Reimers two-month total $400,905
Salvador two-month total $305,584
At this rate, after 12 months the two sets of books will be $600,000 apart.
I assume that Reimers is correct as he's on the ground in New York, so why is the national office missing $95,000 months after the fact?
Or is the Quickbooks ledger generating inflated numbers?
I don't know the answer, but you can't keep going with funny numbers.
At some point, you have to know exactly how much money there is and stop playing "pick a number out of a hat".
Here, attached by Tracy, is a link to a PDF file containing the Income Recap and
WBAI Financials in Excel format.
If the authorities ever come down on WBAI, will Katherine's homeless angels swoop in to save the day? If they did, would they get their energy from Gary Null's "stuff"?
ReplyDeleteOr would Daulton provide the soundtrack as Berthold disappears in a cloud of smoke?
Of course, the realistic scenario is that WBAI is shut down. (Given its current state, almost any kind of sanction against it would be enough to shut it down.) Then, Bernie, Dred Scott, Margaret and their ilk will claim that it's a conspiracy against their black nationalist agenda. Mimi, of course, will express sympathy.
Will it all end with a bang--or one of Juliana's lame jokes or vapid comments?
The bang will be heard when Juliana presses that sound effect button.
DeleteI was talking to a friend last night, who is an accountant with a fair amount of experience in non-profits. He had some interesting things to say about Pacifica.
ReplyDeleteAs it stands now, there is a good chance of Pacifica being de-certified. He also feels there is a chance of civil/criminal charges being brought against people. He said that being a non-profit is "no longer a license to steal." The government has gotten serious about this stuff over recent years, especially now that it needs money.
Basically he feels the AG audit will be taken seriously, so Pacifica better have their documents in order, or else.
Interesting...
SDL
Devastating propect, but, sadly, well deserved.
DeleteSDL is correct.
Delete~ 'indigo'