Sunday, November 13, 2011
City of Elsa hit with loss of 300k
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| Commissioner Eli Rodriguez in disbelief that the city has lost over $300k. |
By Raul Garcia Jr. / Nov. 13, 2011
On Thursday September 29 the City of Elsa elected officials meet for a special meeting to receive a financial document organized by a public accountant that found the city’s financial standings were in the red and that an amount totaling over$300,000 thousand dollars was unaccounted for.
“It means that we either didn’t collect the money or we collected the money and we didn’t put it in the bank,” said Manuel Garcia of Garcia & Pena Accountants. “We’re going back to the billings and the billings were being done on a manual basis on a spread sheet.”
Newly elected officials found they were a new majority and are now faced with the task of balancing the city budget and working together to find out why the city has been losing money annually.
As the country goes through another recession and cities across the country find themselves trying to climb out of a cash-strapped economy. They heard the revelation of the city’s budget and stayed quit and focused as their accountant went through Elsa’s financial audit.
“This council wants to know and I am very fortunate that all these gentleman are in agreement with me,” said Robert Escobar, Elsa’s mayor pro-tem. “And I don’t have to scream and shout like last year when you presented this document that showed we were negative quite a substantial amount of money.”
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| Manuel Garcia addressing the financial state of the city. |
Mayor Pro-Tem said the financial audit of the city the previous year also showed huge losses but the majority of the council voted to approve the audit and not question it.
“They did not try to correct this problem last year,” said Mayor Albert Perez. “Now we’re having the same problem again.”
Mayor Pro-Tem said information continued to say that after the city officials were not re-elected to office last May city documents were removed, destroyed and it has made a hardship on the accounting team to iron out the finances of the city.
“We have to have a strong foot hold as far as expenditures we’re incurring and how our revenues were going,” Escobar said. “What I want to know are definite responses as to why we are negative or not.”
The city lost revenues in almost every category and the general expenditures were found to be in the negative of $2 million.
# posted by Raul Garcia Jr. @ 8:16 PM 
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