May
03
2023
From The Blog
A Note from KICA’s Board Chair and Treasurer
Dear members,
At the Finance Committee meeting last week, we informed members of the Finance Committee, and the community members in attendance, that our auditor, Keefe McCullough, has terminated their relationship with KICA.
The auditors, in conversation with Board Chair Jerry McGee, indicated that the reason for the termination is twofold;
First they cited the contentious conversation at the Finance Committee meeting on March 8th, and second the 4-3 vote to accept the unqualified (thereby clean opinion) audited financial statements at the March 13th KICA Board meeting, both of which indicated a lack of faith in their performance.
Members that would like to better understand the Auditor’s presentation to the Finance Committee can watch the video of that meeting here, and those interested in the full Board meeting on March 13th can watch the video of that meeting here.
The auditors expressed appreciation for the work of the KICA Finance Staff over the course of the audit and expressed no concerns about the state of KICA’s finances as expressed by the unqualified opinion.
They have timely filed the KICA 990 Tax Return extension and they will timely file the Kiawah Cares 990 Tax Return.
The process of developing an RFP is underway and we are defining the process for selecting a new audit firm.
KICA BOARD CHAIR
Jerry McGee
KICA BOARD TREASURER
Lisa Mascolo
Related Documents
MARCH 10, 2023
Letter from Keefe McCullough to KICA Board