Monday, April 4, 2016
For whom the phones ring...
The PNB Audit Committee held another phone-based meeting this evening. The purpose was to hear from Grant Lamb, the auditor from Armanino. As usual, there was much time wasted on the discussion of an agenda, but even more time was devoted to speculation as to how much Armanino would charge Pacifica for this call. As the clowns discussed and argued, the air was filled with "points of order", which nourished the disorder. You can hear it all on the unedited stream. Best that way, for these meetings are beyond adequate description. There was no Mozart tonight, nor a chorus of beeps, but Mr. Lamb was finally connected, much to the discomfort of the bozos, especially Margy Wilkerson, who obviously would be happier if the public, including listener sponsors, were simply kept in the dark. This lady and the concept of free speech do not get along.
When the Empire State Building contract was mentioned, Madame Wilkerson had one of several smelling salt moments, so an "Executive Session" was ordered and the rest of us were unceremoniously cut off.
Our good friend and astute observer, Indigopirate, has given us permission to share his notes, made on the fly, as it were:
A Hasty Pudding of Notes re Grant Lamb’s Audit Progress Report and Pacifica’s Eternal Coverup, or: ‘Openness’, Pacifica Style, or: Rats Scurry to Corners, Clutching Information, Periodically Snapping at One Another’s Tails (a singularly sorry spectacle, indeed).
Grant Lamb, from Armanino
Working with Lydia
Democracy Now! Contract: Ended 2012, Pacifica has continued to air, Pacifica has not accrued costs for the period since, and situation is unclear. DN seems not to have itself accrued amounts for 2014, so they may not be owed/pursued – need confirmation.
ESB: Can’t discuss in public session.
Brief interviews with station managers planned.
Armanino owed ~$75,000 open balance, est to complete ~$100,000, which total is less thatn 2013 audit.
No engagement letter for 2015 audit.
Biggest overrun is the organization not having support in place at time of audit’s commencement, which then became piecemeal. An organization Pacifica’s size should not require more than two weeks.
Going Concern issue… Margie wants to squelch. Period is one year from the date of issuance of the report… through April 2017.
Ramifications: Going Concern Opinion would likely affect ability to seek loans or donors.
Improvements Needed (pointed out in previous audits): Pending
Fraud: Was pointed out in 2013 audit report that controls as to possible fraud were needed to be improved.
~ ‘indigopirate’, Dishonorable Hasty Pudding Secretary, Pro Tem, Ad Nauseum, Sic Transit Pacifica