Upcoming audit of PDA expected to cite financial accounting for Makers Square

Posted 6/24/22

A soon-to-be-released state audit for the Fort Worden Public Development Authority will contain a finding of faulty financial record-keeping, PDA officials acknowledged during a committee meeting …

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Upcoming audit of PDA expected to cite financial accounting for Makers Square

Posted

A soon-to-be-released state audit for the Fort Worden Public Development Authority will contain a finding of faulty financial record-keeping, PDA officials acknowledged during a committee meeting last week.

The new audit, prepared by the Washington State Auditor’s Office, follows the release in December of an accountability audit for the Fort Worden PDA that covered the years 2018 through 2020.

Unlike the earlier audit — which included a fraud report that found the former chief financial officer for the PDA set up false vendor accounts and billed the authority for $10,054 that was paid to her husband’s construction business — the upcoming audit is based on a financial assessment of the agency.

Becky Wagner, the PDA’s contracted accountant, told the authority’s Finance & Audit Committee at its meeting last week the financial audit would contain one “finding.” According to state officials, an audit includes a “finding” when auditors “have significant concerns about a government’s control over public resources or other issues.”

Wagner said the finding will center on how bond proceeds for the PDA’s Maker Square project were reported to the state. Makers Square centers on the renovation of the Quartermaster’s Storehouse and nearby buildings at the fort into a regional arts hub.

The PDA has been plagued by problem audits from its start.

The authority became operational in 2014, and the state’s concerns over the lack of financial controls stretches back to that year.

In every audit year, from 2014 through 2020, the state has repeatedly noted the same problems within the PDA, specifically its inability to accurately track its finances, with repeated and numerous misstatements and errors discovered in the PDA’s financial statements submitted.

The troubled audits reached a problematic pinnacle at the end of last year, when the PDA noted in its 2018 and 2019 statements that agency officials discovered “malfeasance” and pointed to former Chief Financial Officer Diane Moody as being the cause.

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  • tjberry

    "In every audit year, from 2014 through 2020, the state has repeatedly noted the same problems within the PDA, specifically its inability to accurately track its finances". This is the peoples money not the PDA's money. For the problem to persist for this long should be unacceptable to all of us. Where is the leadership to make the necessary changes? Hiding I suspect.

    Friday, June 24 Report this

  • HarveyW

    REAL PORT TOWNSEND "HIDDEN HISTORY"

    The FWPDA is chartered by the City of Port Townsend. The City Council should have stepped in when audits started coming back with problems. The City Manager was Timmons during much of that time and worked with Sandoval who was 3-time appointed mayor over 20 years . He is now Executive Director of the FWPDA,

    The State did nothing when nothing was done to fix audit problems. The FWPDA is their baby too.

    "New" board members were selected by a "committee" which sprang up under the guidance of the City Council and Appointed Mayor. No public input?

    The current board is just who the City wants it to be. One member is a past appointed mayor who wanted full title to the fort originally, along with others of a similar mind set that are still around. Trace another current board member to the Fort Worden Advisory Committee at the start, then a State Parks Commissioner who helped shephard the FWPDA into existence. You have a small circle of controllers who also split out the profitable hospitality aspect of the FWPDA to be run by a non profit who's board is????????

    Not you or me. It's all under control. Like always. The City of Port Townsend and the FWPDA are very closely related, inbred.

    The past Executive Director that was responsible for so many problems, resigned and got a great retirement. No real price to pay as a long time insider. He was called a "visionary" for Maker's Square by FWPDA "reality" spinners as he was exiting..

    The CFO got all the press for only ten thousand dollars. Look here. Not there.

    Now Makeer's square is called by Timmons a disaster and poorly conceived and designed. Now with official audit problems. Suprise!!!!

    This will all **** over like mess tents no one wants but a special insider. Now a renegade eatery has fenced off 2 parking places and put out tables, and it seems there is no recourse. Of course. City Manager and City Attorney are mute.

    Call the police? Most got smart and left.

    All connected by sheer inner circle insider incompetence. Add Cherry Street, decayed roads, the unaudited 1.2 million dollar visitor center weed patch, no parking plan in sight but promises to deal with it after this important summer season. Each lost space loses $300 per day to businesses. It can wait.

    We will have a resilient and dynamic recovery. Ask City Manager Mauro, and his buddy Appointed Mayor Faber who didn't step in when audits and so much more went South.

    Everything some touch turns to crap. Which is spun into PR fools gold.

    Please correct me if I missed anything or got anything wrong.

    Friday, June 24 Report this