Reading that story made my heart break as I have found memories of this facility from childhood.
Assets=Liabilities+Owners Equity
The basic accounting equation; deviation for any reason skews honest reporting. In the least audited financial results should be available for donors yearly. Prior fiscal mismanagement if the case, does not alter subsequent reporting when this is addressed. Any CPA firm knows how to report what is and what isn't; let them do their job without interference.
I get it, sometimes one must "rob Peter to pay Paul" but that doesn't alter the basic accounting equation still, if the intention isn't deceitful. Let's get back to the basics and give the community and potential future donors a reason to believe in the mission of the YWCA Chester.
No need to spin the story or mount a defense against "aspersions", just give us honesty and truth through transparency. The mission statement and honest reporting are more significant than egos and pride. The community of Chester deserves our best effort.
This was honestly a very good response. To Acting President Simpkins, a class act. Don't let the turkeys get you down. You have to rise above it.
ReplyDeleteReading that story made my heart break as I have found memories of this facility from childhood.
ReplyDeleteAssets=Liabilities+Owners Equity
The basic accounting equation; deviation for any reason skews honest reporting. In the least audited financial results should be available for donors yearly. Prior fiscal mismanagement if the case, does not alter subsequent reporting when this is addressed. Any CPA firm knows how to report what is and what isn't; let them do their job without interference.
I get it, sometimes one must "rob Peter to pay Paul" but that doesn't alter the basic accounting equation still, if the intention isn't deceitful. Let's get back to the basics and give the community and potential future donors a reason to believe in the mission of the YWCA Chester.
No need to spin the story or mount a defense against "aspersions", just give us honesty and truth through transparency. The mission statement and honest reporting are more significant than egos and pride. The community of Chester deserves our best effort.
Respectfully posted.