Sunday, February 15, 2004

Committee Report Says Accounting Changes Necessary

By Rich Connors
Secretary

In December, the NBUA Board of Directors authorized a committee, to be chaired by Rich Connors, to review the accounting procedures of NBUA. At the Board meeting held Monday, February 9, 2004, the committee presented its memo to the Board. In a unanimous recommendation, the committee suggested substantial changes were necessary in the Association’s practices and procedures to protect the interests of the Association and its membership.

In the memorandum, the committee attempted to accomplish the following:
1. Examine current practices and procedures
2. Establish criteria to evaluate alternative solutions
3. Identify the alternatives
4. Evaluate the alternatives based on the established criteria
5. Vote on a recommendation
6. Present the recommendation to the Board of Directors

The committee recommends establishing new accounting practices that provide checks and balances that protect the membership. In addition, it is recommended that a relationship be established with an outside CPA to evaluate and monitor NBUA’s practices and procedures going forward to ensure the safety of NBUA’s assets.

The Board of Directors will take up this recommendation at the next Board meeting to be held on March 8, 2004. If you would like a copy of the committee memorandum, email Rich Connors. If you have questions, call Connors or one of the other committee members, Jay Neff or Joe Whitefield.