Unidentified Bank Deposits
Below is a memo concerning the deposits. The question is why was the incompetent board and past mismanagement not more aggressive in locating those who sent the money? Yes, comment was made about these funds but the search was lacking. Having years ago worked in an accounts receivable section of an accounting department, individuals would have been fired for not having been more aggressive in discovering the accounts to which the funds should be applied.
For all those reading this let all Unit Owners you have contact with know about this problem. Sadly, some who may have already sold their units will not know that their money was not applied. Having talked with Unit Owners, I am not surprised since many were quite confused with the paperwork and accounting given let us say so much said and so little done or delivered.
Since we have also received so little in the matter of financial disclosure, how much is the total amount and what years are the amounts from?
Click here for a .pdf of the memo.
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