DCA Audit Finished: When a quasi-governmental nonprofit decides to dissolve itself, the matter of assets on hand, what to do with those assets, and assuring there’s been no malfeasance becomes the next order of business – so quite often, a financial audit is ordered.
On Monday, Corvallis Finance Director Ryan Seidl forwarded a copy of the audit for the Downtown Corvallis Association, or DCA. The group primarily functioned to advocate and promote for downtown businesses, and much of their funding came from a special taxing district in the downtown commercial core. They had announced their intent to dissolve last year, and with the audit now done, they can indeed, dissolve.
The audit was performed by Pauly Rogers and Co, a certified public accounting firm located in Tigard. Their stated opinion, “In all material respects, the financial position of Downtown Corvallis Association as of June 30 2022, [is] in accordance with accounting principles generally accepted.” The report goes on to state that having only one employee, the organization should have committed to more oversight, but the report finds no material adverse impact from the omission. Likewise, the audit notes that it sometimes took more than 30 days for the organization to reconcile bank statements, but again, finds no material adverse impact from not having done so.
Both outgoing DCA Executive Director Jennifer Moreland and City Economic Development Officer Kate Porsche had disclosed last year that the organization had long been considering a dissolution. Also, at the time, with DCA dissolving, Moreland let friends and associates know that she and her family had decided to move out of state.
While awaiting a final audit, and approval of the audit by the City, Christine Hackenbruck has acted as DCA’s executive director. In a letter to the Board, the auditor states not seeing any significant best practice deficiencies.
Liquid assets of $155,512 were shown on June 30, 2022. The current plan is for cash on hand to transfer to the Corvallis Chamber of Commerce on final dissolution of DCA.
The audit shows some lost gift certificates that had been in DCA’s possession. Hackenbruck disclosed to The Advocate that the organization had stopped selling the gift certificates on or before Dec. 31, 2021 and that all the certificates had expired by Dec. 31, 2022. The auditor did not note the matter of the gift certificates as material in any way.
Click here to view the Downtown Corvallis Assoc. – Financial Report – 2022.
And, click here to view the accompanying Downtown Corvallis Assoc. – Board Letter – 2022.
Wildfire Protection Plan: Another item on the Feb. 21, Benton County Board of Commissioners meeting agenda was final approval of the Wildfire Protection Plan. Updates to the current plan were approved by the county, the Fire Defense Board and the Oregon Department of Forestry.
The Wildfire Protection Plan draft, for 2023-2028, was created to serve as a tool for local wildfire suppression and protection services. Agencies assessed the current wildland fire threat throughout the county.
The final report focuses on the threat of wildland fire threats throughout Benton County, in large part because of a historically long-duration wet season lasting from October through May.
To view the final report, you can visit https://www.co.benton.or.us/planning/page/community-wildfire-protection-plan