[Vision2020] Chamber president: No audit needed

Fri Oct 15 22:11:47 PDT 2004

Kimmell exonerated?  Really, Dale?  You have been lonely out there in blogville, haven't you?     

My take on this Daily News story was rather different.  As soon as I opened the paper, I stepped right into Janice McMillan's pile of reassurance and now I can't seem to get it off of my shoe.  It smells to high heaven, and I'm tracking it all over the carpet, so if someone could please supply a brush and a bottle of Orange Clean, perhaps I could restore my sole.  In the process, I might also come to understand why it was that the Chamber called a public meeting to unveil a financial review -- a review made necessary by dodgy-looking financial statements and questions about Paul's management -- and then failed to release said review.  Why not just cancel the meeting?  It was Happy Hour at the Coeur d'Alene Brewing Company!  But, no.  Instead, President McMillan declared that the review (which was not present to speak for itself) had indicated that there was no need for a full audit, and she then surrendered the floor to Paul, who seems to have conducted a two-hour impromptu "the role and mission of our wonderful chamber" love-in.  Oh joy.

There's no hope for this.  I'm wearing waffle-stompers.  I'll have to put them out on the back stoop and hope that they're dry enough by morning so that I can knock the shit off them with a stick.

Joan Opyr/Auntie Establishment

PS: Dale -- have you considered getting a satellite dish?  Or a pen pal?     

----- Original Message -----  
From: Dale Courtney  
To: vision2020 at moscow.com  
Cc: Dave Glasebrook ; abkulbe at hotmail.com ; Jack Van Deventer ; Donn Morse ; r.contender at juno.com ; Roy Atwood ; Wes ; Greg Dickison ; Mike Hall ; John Carnahan ; Joe Myers ; Keith Deimler ; Doug Wilson ; Doug Farris ; Dale Courtney ; John Moss ; scottwmcd at hotmail.com ; thumper at mail.wsu.edu  
Sent: Friday, October 15, 2004 4:42 PM
Subject: [Vision2020] Chamber president: No audit needed  

Kimmell exonerated...  

Chamber president: No audit needed  

Alexis Bacharach

An ongoing review of chamber finances has identified no evidence of financial mismanagement, Moscow Chamber of Commerce President Janice McMillan said.  
The review was supposed to be released Thursday to chamber members and other interested members of the public, but McMillan said accountants from Hayden, Ross & Co. still are compiling information.  
She confirmed there are concerns about the organization's finances, noting a $20,000 shortfall in accounts receivable. Chamber board members anticipate that deficit will be zeroed out within the month, McMillan said.  
"We have about $20,000 worth of travel money that is still out there," she added. "If you don't understand the budget then yes, it looks like we have a problem."  
The chamber's financial statements showed a number of irregularities over the past year, including a $74,000 deficit in retained earnings - money that accumulates over the course of a business' operations.  
McMillan said board members questioned the accuracy of the chamber's financial information and hired accountants from Hayden, Ross & Co. in Moscow to perform a financial review.  
"If there appeared to be a problem over the course of the review, we agreed an audit would be performed," McMillan said. "So far, we've found nothing that suggests a full audit is necessary. We decided to start with a review because they are less expensive."  
Accountants reviewed the chamber's finances from 2001 through the current budget month and are preparing comments to accompany the review.  
Chamber officials expect the review will be complete sometime next week.  
"We had hoped to have our review ready for tonight, but the school district's audit took priority over ours," McMillan explained on Thursday to a group of interested chamber and community members. "We will post our audit review for comment as soon as it is completed."  
Officials gave a presentation on the chamber's role and mission instead of discussing the financial issues, which Executive Director Paul Kimmell noted was the main reason people attended Thursday's meeting.  
"I know there is concern about the finances which is why many of you are here tonight," Kimmell said. "We understand your concerns. We take our finances very seriously and are constantly looking for ways to streamline this organization."  
Kimmell said the chamber is taking a number of steps to improve checks and balances with the organization's financial dealings. Board members have agreed that should funds be available, accountants will be hired to perform annual financial reviews. The board also is in the process of appointing a separate board for the chamber's foundation.  
Questions have been raised in recent months as to whether chamber board members also should serve as foundation board members.  
The chamber and the foundation are governed by the same board.  
McMillan said the dual role might be viewed as a conflict of interest when money and other compensatory items are exchanged between the foundation and the chamber.  
According to foundation and chamber financial statements, more than $8,000 has moved between the organizations to pay property management expenses for the chamber's Commerce Center.  
McMillan said the appointment of a second board would make everybody's job less confusing.  
"Back in 2002, during the purchase of the building, Avista agreed to sell at lower than market value with some trade-offs. The foundation really can't provide those services, but, thinking with their chamber board hats, they committed the chamber to that," McMillan explained. "Perhaps, because they made that commitment, if you had a separate board someone might have said 'wait a minute, can we really do this?' We are a big enough organization to have two boards. It's just a good way to separate the two, perhaps when we are looking at issues it will be one more opportunity to stop and think."  
McMillan said she is satisfied with the steps the board has taken to ensure the chamber is financially solvent.  
"You have to understand there are ebbs and flows in chamber finances," she said. "We provided our auditors with all the financial information, and we will share the results of the review as soon we have them."  
Alexis Bacharach can be reached at (208) 882-5561, ext. 234, or by e-mail at abacharach at dnews.com.  

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