Voluntary audit completed November 6, 2019. All funds and expenditures were accounted for. Report to follow.
We are a public Corporation and our records are open to the public for review by anyone at any time. Our Treasurer will gladly schedule an appointment with you and allow you to review our financial records. Please contact her via e-mail from the “Staff” page to set up an appointment.
From the audit we did find several accounting practices that could greatly be improved upon. We also did find three occurrences where a board member used the account to pay personal bills. However, at that time, the account was set up as a personal account and the members name is on the account which makes it a legal use. On all three occasions, the exact amount was deposited by the member as a “Cash” deposit before the debit card was used to pay the online personal bills. Therefore, no YPAC money was ever used to pay anyone’s personal bills. Was it smart to use the account in such a way? ABSOLUTELY NOT! The account has now been changed to a business account.
The 2017 YPAC by-laws posted under the “Admin” tab have changed greatly from the lessons learned during the audit. No one can spend any YPAC funds without making a request to the Board, the Treasurer stating the funds are available and the Board approving the purchase. Registration money is sent to a P.O. box and checked by 2 people. Money is accounted for and deposited within 48 hrs. Deposits must be separated by fund type and clearly documented. The Treasurer maintains the debit card and 2 signatures are required on all checks. No one is now able to pull “CASH” out of the account unless board approved for a very specific reason such as change needed for the concession stand. No one will be reimbursed for spending personal money if the purchase was not pre-approved by the Board. Any equipment purchased will immediately be marked “YPAC”, added to a equipment log and strictly accounted for by the equipment custodian.
Again, if you have any questions or would like to speak to a board member please reach out to us via e-mail.