RIOC’s Audit Committee Meeting, set for this afternoon at 4:00, matters because the state hides so much. Discussions, undoubtedly staged, consider wrapping up the books for the last fiscal year.
by David Stone
The Roosevelt Island Daily News
What’s on the Audit Committee Agenda?
Government board Audit Committees matter because the public has so little visibility into how their money is being spent.
This afternoon at 4:00, Roosevelt Island’s representatives on the RIOC Board of Directors sit as the Audit Committee and review, among other things, the books for the last fiscal year.
The state-run Roosevelt Island Operating Corporation is required by law to submit its financial records for review by an outside accounting firm. That firm then confirms the numbers as valid.
The legal responsibilities of a board member in a New York State agency are many and weighty. But the last thing we want from our members is for them to be rubber stamps.
For that reason, the Audit Committee’s most important duty is to ask hard questions of staff about how money was spent, what worked well, where improvements are needed and why some things cost so much.
We’ve all heard stories of corruption and waste in government. The Audit Committee is our best, maybe only, defense against those ills.
AGENDA:
Discussion of:
- Audited Financial Statements for Fiscal Year Ending March 31, 2022
- Annual Report for Fiscal Year Ending March 31, 2022
- Report on Procurement Contracts for Fiscal Year Ending March 31, 2022
- Report on Investments for Fiscal Year Ending March 31, 2022
- Property Report for Fiscal Year Ending March 31, 2022
- Insurance Binder for Public Officials/Employment Practices Policy
But then, there’s another in a string of executive sessions where the board hides behind a cloud of obscurity and, most likely, hears about another exit or arrival under the tumultuous management of President/CEO Shelton J. Haynes.
Executive Session:
Discussion of the Medical, Financial, Credit or Employment History of a Particular Person or Corporation, or Matters Leading to the Appointment, Employment, Promotion, Demotion, Discipline, Suspension, Dismissal or Removal of a Particular Person or Corporation.
This is essentially legalese regurgitated as a disguise shielding the executives from public scrutiny.
Adding significantly to mushrooming distrust, public materials germane to this meeting have not been posted yet, although they are certainly available.
Why This Meeting Matters
With multiple investigations underway, the focus on the last fiscal year shines a spotlight on board responsibility and agency accountability.
The Audit Committee meeting serves as a prelude for action at a full board meeting later this month. Will the committee roll over as it has for years, never looking critically at spending it approves?
A repeat performance is likely as the shipment of spine donors has not hit RIOC’s door yet. But it’s worth watching as the public record becomes real.
Pitch in. Support independent local reporting.
Also from the Roosevelt Island Daily News
- Fatal Stabbing on J Train at Woodhaven Boulevard Spurs Subway Safety Concerns in QueensA fatal stabbing on J train at Woodhaven Boulevard raises fresh subway safety concerns in Queens, as NYPD investigates and riders reflect on recent incidents.
- J and M Train Weekend Service Changes: What Riders Need to KnowJ and M train weekend service changes will impact riders for five weekends as crews replace elevated track switches. Here’s what to expect and how to prepare for modified schedules across Brooklyn and Queens.
- Coastal Flooding Disrupts Southeast Queens Streets and TransitCoastal flooding disrupted streets and transit across Southeast Queens as a fall nor’easter brought heavy rain and renewed calls for resilience and improved drainage.
- Nor’easter Brings Slow Streets and Transit Delays Across Queens and NYCAfter the nor’easter, slow streets and transit delays across Queens and NYC greeted commuters. Utility crews continued repairs as normal routines resumed Monday.
- Nor’easter Brings Flooding and Disruption Across New York CityA powerful nor’easter brings flooding and disruption across New York City, with heavy rain, gusty winds, and coastal flooding impacting neighborhoods through the weekend.
Free at the Door, Paid Somewhere Else
The Red Bus is one of Roosevelt Island’s most popular public services, and for good reason. For residents near the subway and Tram, it may be a convenience. For residents at Manhattan Park, the Octagon, Coler and the northern WIRE buildings, it can be the connection that makes the rest of the Island accessible.
3 COMMENTS