Post by Admin on Oct 20, 2016 16:16:28 GMT -7
Fraud, Theft and Cooking the Books...
The GLFPC Summary of the October 3rd, 2016 GLA Board Meeting is now available
The GLFPC Summary of the October 3rd, 2016 GLA Board Meeting is now available
At the October 3rd, 2016 Board Meeting a landowner revealed that the GLA accountant was ordered to misrepresent payments from certain landowners. The Books are NOT adhering to Standard Accounting Practice she surmised. In everyday words they are "being cooked". Specifically the accountant was ordered by someone to post payments from past due landowners in a way that artificially inflates the 2016 collections amount while reducing overall interest and penalties for the delinquent landowner. The State of Montana requires that non-profit corporations adhere to Standard Accounting Practices and have written that into law. What the accountant was ordered to do is normally considered fraud and theft. The accountant could lose his license. Both the GLA Treasurer and the accountant could face criminal prosecution, fines and even jail time.
The Glastonbury Landowners for Positive Change first noted this serious situation in their summary of the October 3rd, 2016 GLA Board Meeting.
Key Meeting Points in the GLFPC Summary Include:
The Glastonbury Landowners for Positive Change first noted this serious situation in their summary of the October 3rd, 2016 GLA Board Meeting.
Key Meeting Points in the GLFPC Summary Include:
- A record number of 14 nominees are campaigning to fill 6 board openings at the Annual GLA Board Election in November. There are 7 nominees in South Glastonbury (SG), and 7 in North Glastonbury (NG). Both NG and SG each have three board openings.
- Assessment discounts continue without any established board policy or procedure. The entire board has not been privy to the granting of these discounts, which brings an additional question as to their legality.
- Problems with inaccurate financial records have worsened because Treasurer Rudy Parker continues to ignore standard accounting and business practices as required by nonprofit corporate law.
- By using their alleged discretionary powers, a specific few on the board are intent on finding a “legal means” to override the August 27th membership vote. Landowners had recently rejected the retroactive interest rate reduction of 12%.
GLFPC Note: Per the GLA Governing Documents, the power to change the interest rate clearly rests with the landowners and not the board. Conversely, the board contends that the Governing Documents grant them the power to change the interest rate by using their “discretion.”
- NG board members are being asked to report to the Project Review Committee their knowledge of any dwelling units that are not being “properly assessed”.
- The Draft Collection Policy states that foreclosure may be used as a collection tool, despite the fact that the board's attorney has advised against foreclosures in order to preserve property values.
- In spite of President Mizzi's resurrecting her Meeting Decorum Policy, as usual, board members quickly fell into raucous exchanges.
Download the entire 6 page GLFPC Summary here. Courtesy of the Glastonbury Landowners for Positive Change