SPIC Broke???… uhhh, NO!

Don’t believe the talk, or the sign in the office that says SPIC is broke… say no to an audit.

SPIC saying we are broke is the same as a bank saying they are out of cash, while having a vault full of gold.

How so, you ask.  They are sitting on 40 water connection shares, and have been for a full year!  The budget showed water connections and an overall surplus of cash to the tune of $30K, though it did not show all the available water connections. (which would have made the surplus more)  This is a self inflected accounting issue that they are refusing to fix.  They did another water lottery, that flopped for the most part.  40 water shares, after there being 33 available after the 2012 lottery, are still available.  Will releasing all 40 make 40 people build… no, but it will end speculation and taking people’s money for hopes their properties will sell.  And guess what, after those 40 are gone, we can present to the health department for more shares, especially now that we have a full sewer system in place.

We are not broke, and we are sadly (and illegally) keeping water shares away from shareholders that have a right to those shares.

The question to ask… Why?  Why are you wrongfully withholding water shares from shareholders?

Now, we are not broke, and the board doesn’t want an audit.  Ummmmmmmmmm, now an audit is mandatory.  When a board is doing all they can to avoid an audit, you get an audit done.  I took over as VP for a board at my last community where the previous president avoided an audit and at the same time, took $300,000+ from the community.  Certainly, this is likely to not be the case, but when the board pushes for no audit… you audit.  $14,000 is the same as 6 water connections, and it is necessary.

Do not let this board scrap an audit.

WE ARE NOT BROKE!

SAY YES TO AN AUDIT!!!!

2 responses to “SPIC Broke???… uhhh, NO!

  1. The SPIC Board of Director minutes reported on January 16, 2014 that the firm of Larson Gross was conducting an audit for the year ending March 31, 2013. During the May 15, 2014 board meeting, the treasurer reported that the audit had been completed and 5 issues were found and were being corrected. There has not been an audit since that time! It has been FIVE YEARS since the last audit. Maybe its time for another . . . .

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