Audit, Audit, Who's Seen The Audit ?
(FY 2017 Edition of the Eternal Audit/Financial Saga of Pacifica)
The Pacifica National Board Finance Committee Meeting, which had been scheduled for Tuesday, 8 January, was Cancelled. Lack of interest or the need to Walk the Cat. Or... Lawsuits Lawsuits Lawsuits & ELECTIONS ELECTIONS ELECTIONS!!!
You know, Truly Important Shit. Fuck money. Fuck Finances.
Pacifica will not Deign to address such Trivia!
Fuck It!
There are lawsuits to file and to fight, bylaws to ignore, regulations to ignore, and Elections to Hold!
Okay... so there was, however, an archived audio of the PNB Audit Committee Meeting from Monday ever-so-graciously and kindly made available to the ever-in-awe-and-often-agape Public (those very very few, that is, aware of Pacifica's existence... somehow or other)
~50% of the materials necessary for the FY2017 Audit are now in hand. ~80% of those materials ought be in hand before beginning the audit process.
The audit process is nonetheless now about to begin, in the hope and expectation that the remaining necessary materials will soon be in hand.
The audit is expected to take ~ three weeks.
It's 'Really been difficult just getting statements.'
Cash accounts have been discovered where nothing had ever been recorded, or reconciled.
Many omissions are material and affect other accounts.
In a number of areas there continues to be resistance from stations/units.
The auditors nonetheless feel they are 'making good progress'.
A number of records, however, 'simply don't exist'.
A number of reports remain unobtainable.
PNB and Finance Committee Minutes are to date available to the auditors only through 25 January 2018.
[There is therefore an absence of such Minutes available to the auditors which would cover the period from Tom Livingston's arrival at Pacifica as iED through the securing/approval of the Loan Package of $3+ million.]
Present hope is for the FY2017 audit to be completed some time in March of this year.
Your mileage may vary,
~ 'indigopirate'
A good summary of the call. One nit - the auditor will "start" the audit that should take three weeks total - but because of lack of docs available, figure they only have about one week's worth of work they can do. As Indie pointed out the estimated date of completion is end of March. Lol, who could have predicted this result with this bunch of grandiose, micromanaging incompetents and no CFO?
ReplyDeleteKim
A valid point as to the audit start/projected completion date. Thanks for the correction/clarification :)
ReplyDelete~ 'indigopirate'