5 p.m., Aug. 25
Golden Hill CDC Late to Submit Audit for MAD Funds
For the second straight year, the Greater Golden Hill Community Development Corporation has failed to submit Golden Hill maintenance assessment district audits to the City on time.
The audit was due last December. Now, eight months later, there is still no sign of audit and Golden Hill residents are beginning to grow irate over the management of their MAD. The complaints, however, are not new. The feud between those residents who oppose CDC's handling of the MAD, and the CDC has lasted for years.
Today, city councilmembers discussed whether to renew the contract for Golden Hill. Before they did so, they heard from Golden Hill residents and from CDC board members.
"Do not award contracts until the audits are provided," said Golden Hill resident Barbara Houlton. "Many community organizations have asked for the audit. But, it has never been made public."
Paul Broadway, the new president of the Greater Golden Hill CDC admitted to financial issues within the organization during public comment, at least at first he did.
"I've only been here for four months. We are trying to untangle ourselves and get out of a bad situation that happened through an overestimation of revenue. Some monies were inappropriately spent," admitted Broadway.
Later, councilmember Todd Gloria asked Broadway to clarify.
"I didn't mean to say that," said Broadway. "It was actually our fiscal partners, where [restricted] funds were used. The MAD funds were never in jeopardy."
After some discussion, councilmembers decided to delay renewing the contract until the CDC submits the audit. Broadway, however, said the audit will be completed in less than 30 days.
More like this:
- Will Golden Hill Residents Have to Pay for Their Now-Defunct Maintenance Assessment District? — March 17, 2012
- Spread the Wealth — May 1, 2010
- Bypassing Bylaws in Golden Hill — Sept. 18, 2009
- CDC Calls for Mediation with MAD — June 20, 2008
- MAD: Advisory or Oversight Committee? — June 17, 2008