Recreation Trust Fund: Moved to Audited Accounting Basis

[VentnorMod]

Per a prior post, the Resolutions in the 1990's that created an unaudited Rec Trust Fund were provided.

http://www.ventnorevoice.com/bulleti...read.php?t=168

Per the March 19, 2009 edition of the Downbeach Current newspaper, the budgeting for Recreation may revert to the way it was managed before then-Commissioner Kreischer introduced the Resolution to create the Trust Fund.



The former Mayor spoke at the last Workshop in which this topic arose. He requested a refund of his $3,000 donation to the Trust Fund at the Workshop, citing his fear that the money might be used to "pay an electric bill" and was informed that the new Commissioners would make arrangements to return his donation. Under the revised arrangements proposed, the situation would revert to what it was before the early 1990's -- allowing for the account to be handled like other budgeted and audited public funds once again.

At the time the Trust Fund was created, it was argued that Ventnor had a difficult time budgeting for Recreation needs and that a Trust Fund approach would allow for carrying funds over and greater fund-raising activity. It was also argued that using a Trust Fund approach might allow for greater contribution from Rec back to the city, of funds to help pay for lights or other improvements. It appeared from financial printouts requested one year ago and presented in the Forums at

http://www.ventnorevoice.com/bulleti...read.php?t=292

that city-budgeted Recreation appropriations may have had some annual surplus amounts transferred into the Rec Trust Fund.

To the extent that there have always been public funds committed to support recreation, it appears to shine more "sunlight" to the use of these funds if standard budgeting and auditing practices are once again applied. City of Ventnor had various "rumors" in circulation about how funds were being handled once they went into the Trust, since there were no annual audits.

[candyman]

and to think I'm hearing rumors of a comeback
once AGAIN you prove why YOU'RE NOT WORTHY to be mayor. How stupid can you be? Taking back your money donated in you parents name...waaaaaaaaaaaaaaa. Would Pete do that?


sheeeeesh...