Pace Setter : December 2018

HMRRC Completes Financial Audit

by Ray Newkirk

As part of our ongoing dedication to financial transparency to our club members and broader running community, in 2017 the club contracted Marvin & Company Certified Public Accounts and Consultants to conduct the first full audit of the club’s finances.   Periodic, independent, and thorough reviews of financial practices are necessary to ensure organizations are appropriately managing funds in the best interests of their members. 

The audit is now complete and available. Click here.   We are pleased to report that Marvin gave us a clean bill of health.  Marvin & Co. did make a number of recommendations about how the club could institute a number of internal controls to better manage certain aspects of its accounting.  Some of these recommendations are already implemented through the hiring of a separate independent accountant and others are in the process of being implemented.

On the HMRRC website a trove of the club’s financial data is available and gives breath to the term transparency.  We encourage you to browse it. 

An audit is a lot of work, especially when the board of directors is strictly voluntary. The club is indebted to its financial officers (Nick Webster, VP for Finance; Jon Golden, HMRRC Treasurer), and Cathy Sliwinski, Race Committee Treasurer; and for the many hours of satisfying requests for information and explanations concerning the club’s operations.

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