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  1. spatny
    Member

    Last night at the Board meeting the departing President and Trustees spoke of their views of their regime's accomplishments. Trustee Grace mentioned her work with improving the Village's use of technology, which reminded me that well over a year ago I asked for figures on money spent on projects that I was told - at that time - were unavailable because the Village's books were not kept in such a way that running costs for individual projects were discernible. After a lot of back and forth it was decided that the Village would spend the money to acquire the supplementary software that would allow each check as issued or bill as paid to be charged to the appropriate project so we could see just what our dollars are buying, what we have paid and what we owe on any given project. I believe that software was acquired some months back.

    Toward the end of the meeting President Gorman mentioned that an audit of the Village financial situation was being done now so that the true amount of the shortfall in our finances at this time - that is at the moment the new Board takes over - could be reliably ascertained. He said he expected it to be considerably higher than previously estimated. In light of this fact, and the recently announced tripling of the engineering costs for the upcoming Centennial project, I am requesting that the Village Financial Officer prepare a Project Accounting report for all the work that has gone on at Centennial Park/Plaza and post it to the Village web site so that all the residents may see just what has been spent there. I think this will be very useful for many residents in helping them understand just why we are in the position we find ourselves in.

    Specifically, this report should show just how much has been spent to date on each of the following:

    The Water Tower Renovation
    The removal of the former water department building on East Avenue
    The remodeling of the water works building used by the Rec Department
    The Museum refubishment
    The West Well house refurbishment
    Landscaping and planting to date
    The accurate anticipated or contracted costs for the forthcoming paving and landscaping phase
    The underground electrical installation already done and/or for outdoor lighting
    Tree removal
    Any other projects carried out on that tiny triangle

    This space is right in the heart of town. Everyone is familiar with it. People should know just what it has cost to bring this space to where it is today, and who has been paid what for the work there. If this information is accurately assembled and concisely presented on the Village web site I believe it will go a long way toward helping the residents understand who is doing what to and for whom. I personally feel that when engineering costs rise as steeply as the ones for the completion phase of this project have we are either not estimating properly, making too many changes or are being overcharged. I feel engineering is one aspect of Village expenditures that could use a bit more clarity and possibly a healthy dose of competitive bidding. Perhaps others know more about this subject and will provide information that will help us stretch our dollar. When I go to the RBHS Board Meetings they are able to give a phase-by-phase report on their expenditures for the new construction and show how much above or below - and it has generally been below estimate that they are running on each phase of the $60 million project.

    Posted Tuesday May 5, 2009 06:58 #
  2. Catherine
    Member

    Gosh, a real audit and project coding. Not rocket science.

    New government officials posted on village website now.

    Posted Tuesday May 5, 2009 10:29 #
  3. riversidefactnotfiction
    Member

    News flash folks: This is the same, regularly scheduled audit that is done every year -and is regularly cited for excellence by the GFOA. If the RCA hasn't understood past audits, it won't understand this one either. As for the short-fall: this was the subject of a Board meeting two months ago - which was why some were requesting a plan from the RCA, not just negativity.

    Gosh Catherine, yes, this is the same 'real audit' that is done every year, year after year. What we all are waiting for now is the famous 'line by line' audit promised by the 'annointed ones'. I'm sure the results will be published for all to see.

    Posted Tuesday May 5, 2009 13:53 #
  4. Catherine
    Member

    Oh, that's too bad. I thought we were having a real audit.

    The accuracy of financial and budgetary information is based on the effectiveness of the internal financial control system. The goal of an audit is to ensure that financial reports accurately reflect the condition of the company. According to the United States General Accounting Office, an audit can include the independent review of financial reports, compliance with applicable laws and regulations, efficiency and economy of operations, and effectiveness of achieving program results. An audit, then, is an independent appraisal of an organization's financial and operational efficiency and effectiveness. The results of an audit provide key control information to managers, enabling them to see whether corrective action is required anywhere in the organization.

    An external audit is an appraisal of an organization's financial statements by an independent certified public accountant for reporting to shareholders, the Internal Revenue Service, and other interested parties. The independent expert focuses only on whether the financial reports of the organization conform to generally accepted accounting principles. Publicly held corporations are required by law to have regular external audits to assure investors that financial reports are reliable.

    The internal audit evaluates the accuracy of financial and accounting controls as well as the overall review of operation efficiency. The internal audit is aimed at helping managers improve their operations through the use of better controls. Although audits can be intrusive, they are also a tool that managers can use to continually improve their operations. Internal audits, especially, can help organizations identify control problems and poor managerial decision making.

    Posted Tuesday May 5, 2009 14:31 #
  5. JohnM
    Member

    This is a real audit. As the poster points out, it is done every year. I would presume that the promised "line-by-line" review of the budget--which, in fairness, is separate from the audit--will occur in a few months.

    Posted Tuesday May 5, 2009 14:43 #
  6. riversidefactnotfiction
    Member

    I agree that we will probably not see the 'line by line' audit until the fall, when the budget review is in progress.

    Posted Tuesday May 5, 2009 14:46 #
  7. Catherine
    Member

    If we were regularly reviewing the economy and efficiency of operations, and identifying poor managerial decision-making, and taking corrective action on all, we wouldn't have a new government doing a line by line review.

    But, that's yesterday's news.

    Posted Tuesday May 5, 2009 14:47 #
  8. riversidefactnotfiction
    Member

    Uh...huh. Talk about tired old news.

    Posted Tuesday May 5, 2009 15:32 #
  9. spatny
    Member

    Well I don't think it is so old. Just last month they absorbed Ms. Rush's severance pay and then announced that the engineering costs for Centennial were $100K higher, and parts of the project were being dropped, so I think it might be very illustrative to know EXACTLY what is spent on something. Why do you think someone would not want to have those numbers available? I'll bet not a single trustee, the VM, or the Financial Officer can tell you that today. I think they spent $30-35K for the software to do this, so let's see what it can do. The handover to the new team is being done with a far greater shortfall than was previously thought.

    Posted Tuesday May 5, 2009 16:21 #
  10. Catherine
    Member

    It's not pleasant being tired old news, I reckon.

    Posted Tuesday May 5, 2009 16:26 #

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