One who intends to leave others better off for his having existed.

2/18/14

From the City of Greensboro Audit review of the late Civil Rights Museum's 2012 audit

Disclaimer; The head of the city's audit department has attended a CPA continuing education class taught by George Hartzman.



The museum appears to have defaulted on the loan to Carolina Bank, again.

"Borrower will assign to the City a security interest" appears to mean the loan wasn't collateralized with anything of value when the money was paid, when the audit was late, when the audit was late again, when the sustainability plan was late, and when the contract was signed on February 14, 2014.

From the contract;


In my view, Skip Alston and Earl Jones are still in control of the museum via Deena Hayes.

I believe Skip and Earl need to legally step away from any controlling interest in the museum, a different Chairperson should be installed, and a complete review of the tax credit structure should be completed by someone other than the City's attorney.

I think the City needs to figure out what debts are related to saving the museum, and which are not.

I think the City attorney needs to go, as taxpayer monies were distributed without a collateralized recourse in violation of the City attorney's fiduciary responsibilities to Council and residents of our community, and as he allowed Yvonne Johnson to advocate for and vote on the loan.

I believe the board and managers of the museum should step down, the city purchase the property and its contents for $1, and the loans not tied to saving the facility or its contents left in default and the responsibility of the Sit In Movement, which is Skip Alston and Earl Jones etc...

I believe Yvonne Johnson should immediately refrain from any involvement and/or votes concerning the museum or its future;



1 comment:

Anonymous said...

You're 100% correct. If this were any other "business" which hasn't EVER turned a profit, nor ever will, it would have been shut down years ago. It is ignorant for the taxpayer to continue to foot the bill for this. If someone wants it to stay open, they should fundraise and NOT borrow money from the city of Greensboro to which I pay taxes.