An interesting post from Norm, who takes a look at VAPAF’s financial statements and notes some weirdness with historic tax credits:
This is counted as money raised. But the note in the TD says “This revenue estimated to come from the sale of tax credits related to improvements to the Carpenter Center.”
In others words, VAPAF is claiming almost $5 million in proceeds from credits it has not sold for improvements it has not made.
Later, noting the tomfoolery surrounding the foundation’s latest black eye, he says:
The more I look at this stuff, the more it seems to me that what’s required is not a “summit” to bring all sides to some sort of Potemkin village-like agreement.
Rather, what may be required to get to the bottom of all of this is an investigation by the Commonwealth’s Attorney. Have public funds been misappropriated? Have public personnel violated conflict of interest rules? Has the foundation followed state and local requirements on contracting? Are the financial statements presented to justify further public funding adequate and accurate?
I’m of the opinion now that this is no longer a political question. It may, possibly, be a legal one. The only way to know for sure is for someone to ask the CA what he thinks.
Just the opinion of a “whiner with a website”? That’s how our financial concerns were dismissed just a few months ago.