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Treasurer says association holds $283,000; board urged to begin audit
Summary
Treasurer Janice Tucker reported $283,000 in association accounts and proposed closing accounts at HFCU Bank; Tom M. urged the board to start an audit and consider hiring administrative help to reconcile finances.
Treasurer Janice Tucker told the board there "is currently $283,000 in the bank" and recommended closing accounts at HFCU Bank while staff finish entering data into a new accounting system. She said Balance Sheet and P&L statements are not yet available until data entry is complete and distributed reports are available on request.
Audit-prep lead Tom M. recommended the board begin an audit, called the finances a substantial challenge, and proposed hiring additional office help to ensure records are ready for review. The board agreed there is substantial data-entry work to complete before formal audit deliverables can be produced.
