Former PNB Treasurer Tracy Rosenberg sent the enclosed note to the Pacifica National Board this morning, after the Save KPFA propaganda rag announced that KPFA, already not having paid network services for the past six weeks, does not have enough money to pay its bills for the next month, after two fund drives collected $1.2 million dollars in pledges in the last 94 days,
I would like to note for the record that Ms. Wilkinson’s propaganda rag this morning notified some KPFA members that the station does not have enough money to pay its bills until the start of the next fund drive, which begins in February, a mere five weeks from now.
Can we please have an understandable explanation of this in English?
I would note for the record that had the executive staff of Pacifica deigned to release a financial statement, then the question would answer itself, but since the current executives provide no numbers after June of 2014, they will have to answer the question.
The station claims to have met its last two fund drive goals, stating pledges totaling $1.2 million dollars in the last 94 days and to have an 89% fulfillment rate on these pledges. I would note this pledge amount would replace KPFT’s damaged and about-to-fail transmitter six times over.
The purpose of a budget is to establish that if revenues meet projections and spending is executed as planned, there will be sufficient funds to pay necessary bills.
So which of these three things has gone wrong?:
1) There has been spending unauthorized in the draft LSB-approved budget. If so, who spent that money, on what, who authorized it, and what are those parties going to do and how are they going to be disciplined if they spent the listener’s money provided to pay the station’s bills on other things?
2) The fund drive pledges and expected fulfillment rates have been exaggerated and either the station did not meet the goals or large numbers of pledges are suddenly failing to be fulfilled. If so, please document the difference between previously reported numbers and reality.
3) The station’s draft budget is not balanced and was erroneously approved by the finance committee.
Please clarify immediately the source of the problem and the corrective measures to be taken.