Missing funds: $7,000

There are 29 comments on the Berkshire Eagle story from Mar 28, 2010, titled Missing funds: $7,000. In it, Berkshire Eagle reports that:

Approximately $7,000 has disappeared from town coffers over the course of at least the past two years, according to town officials who are familiar with the case.

Join the discussion below, or Read more at Berkshire Eagle.

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Ha Ha

West Springfield, MA

#23 Mar 30, 2010
Grammar police wrote:
<quoted text>
Complaining about someone's grammar with an equally grammar-challenged post is epic irony. You probably don't understand what the previous sentence means, so I'll lay it out in street talk: You're a moron!
If he weren't picking his nose he might be able to type with two hands.
HellerCarbonCapN TradeLLC

Alexandria, VA

#24 Mar 30, 2010
makes one wonder wrote:
<quoted text>
I do not understand the secrecy myself. If there was nothing to hide you would think they would be happy to share the books just to shut you up.
One would think so.
But then again maybe the thievery has been going on for so long and there's so much money involved that if it were all exposed those involved would be facing the same living circumstances now facing Bernie Madoff.
HellerCarbonCapN TradeLLC

Alexandria, VA

#25 Mar 30, 2010
HellerCarbonCapNTradeLLC wrote:
<quoted text>
The fact is that the public has NEVER been allowed access to WAMC Northeast Public Radio's books.
Further, directly contrary to the recommended 'best practices' of its own industry, WAMC does NOT rotate auditors every five years.
This recommendation, to rotate those auditing a corporation's books, came about as a direct result of the accounting scandals at United Ways of America, Enron, Worldcom, Global Crossing, etc. and is meant to provide protection against those in an organization who commit internal fraud -- exactly the kind of fraud that took place in the instant matter in West Stockbridge and was specifically uncovered by auditors.
Because WAMC Management refuses to rotate the broadcaster's auditors (WAMC has used the same audit firm since 1981), the tax-exempt $7.2 million that WAMC pulls in annually from listeners, underwriters and government grants is certainly ripe for embezzlement or outright theft because there are insufficient internal controls to detect and expose such activities if such were going on.
How would anyone on WAMC's Board of Trustees know if anyone within WAMC were diverting funds if the Trustees do not insist on putting into effect its own industry's best practices recommendations regarding corporate accounting?
Good accounting is what exposed the missing $7,000 in the case of West Stockbridge; what might similar good accounting discover if applied to nearly 30 years of failing to follow best practices at WAMC?
Why would any organization supported by donations from the public not want to follow its own industry's recommended 'best practices' for accounting for the money that flows through its coffers?
Joe taxpayer

North Adams, MA

#26 Mar 30, 2010
How do you think Barrett fuels his gambling habit ?? Pittsfields books will be droping much more.
mastermind

Easthampton, MA

#27 Mar 30, 2010
I think people here are really shocked by it. She has always had the appearance of being a hard worker who did a lot of things for the town like counting votes and stuff so we just don't get it.
HellerCarbonCapN TradeLLC

Alexandria, VA

#28 Mar 30, 2010
mastermind wrote:
I think people here are really shocked by it. She has always had the appearance of being a hard worker who did a lot of things for the town like counting votes and stuff so we just don't get it.
It only comes as a shock because there are so many truly gullible people in Berkshire County.
Remember, these are the same rubes who voted passionately for Obama's 'Hope & Change'.
Hates Lies

United States

#29 Mar 31, 2010
Sorry, "Makes One Wonder," but I doubt anything, including the truth, will make him shut up. WAMC's financial reports are available for anybody to examine at guidestar.org .
haha

Fort Myers, FL

#30 Mar 31, 2010
HellerCarbonCapNTradeLLC wrote:
<quoted text>
It only comes as a shock because there are so many truly gullible people in Berkshire County.
Remember, these are the same rubes who voted passionately for Obama's 'Hope & Change'.
What ever happened to Joe the Plumber
HellerCarbonCapN TradeLLC

Alexandria, VA

#31 Mar 31, 2010
Hates Lies wrote:
Sorry, "Makes One Wonder," but I doubt anything, including the truth, will make him shut up. WAMC's financial reports are available for anybody to examine at guidestar.org .
Guidestar.org is indeed a wonderful resource.
Forensic accountants often use it as a starting point when looking into an organization suspected of financial shenanigans.
Unfortunately, the fiscal data contained in an annual IRS Form 990-Return of Organization Exempt From Income Tax only tells one part of the story and only discloses just so much; Form 990's are certainly not anywhere near as detailed as an organization's actual books.
Further, any good accountant can craft an IRS Form 990 that hides relevant data -- even outright fraud -- from IRS.
Are you saying that you favor WAMC's refusal to open up its accounting books to the public?
Aren't you in the least BIT curious where $7.2 million annually ends up, and what kind and amount of valuable perks are raked off the top by management?

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