Originally posted April 6, 2015
Berkeley–Pacifica’s much-delayed FY 2013 financial audit, after 11 months in the making, $80,000 spent, and close to 300 hours of auditing services, has been exposed as faulty with double-accrued expenses. The entry of the same bills twice was caused by the tumult instigated by the 2014 rogue board which has been utterly resistant to competent financial staffing and has not even seen a list of how much money Pacifica owes. The late audited financial statements, delivered 9 months after the 6-30-2014 State of California deadline, don’t hold up under scrutiny. Simple questions like the Audit Committee’s request for a list of accued legal expenses, revealed six-figure disrepancies with the general ledger and failures to reduce accounts payable after paying bills, a pretty basic bookkeeping requirement. Continue reading Recording Expenses Over and Over Again