Little found in BIA review
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Updated: September 22, 2009 1:46 PM
A review of the White Rock Business Improvement Association’s financial transactions over a four-month period showed a few minor discrepancies, but overall “nothing material” was observed.
That’s according to a report released Monday, which was written by accounting and consulting firm BDO Dunwoody LLP.
The company was retained by the city at a cost of $2,800 after council decided in a July 27 in-camera meeting that the BIA’s financial records be inspected to verify the levies collected by the city are used for the implementation of the approved Business Promotion Scheme.
BDO Dunwoody examined the BIA’s financial transactions from April 1 to July 31, checking supporting documentation and verifying compliance with city bylaws.
The accountants listed four “exceptions,” which amounted to the BIA executive director being underpaid a total of $12.
In July, the city announced it was releasing $250,000 it collected this year on behalf of the BIA.
The decision to release funds went against a request by businessman Larry Anschell, who has long been sparring with the BIA over the organization’s procedures and expenditures. That month, Anschell registered a group of business people as a new BIA board, and the Registrar of B.C. Companies in Victoria subsequently “froze” the file, as it is considered in dispute.
As the funds were released, Mayor Catherine Ferguson said the city would exercise its authority to inspect BIA records to ensure funds are spent on the business scheme.
Council received Monday’s report without discussion.
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