What's wrong with Washington city finances?

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What's wrong with Washington city finances?

Published: Sunday, October 22nd, 2023 @ 8:26 pm
By: John Steed ( More Entries )

If a corporation's audit is delayed or its chief financial officer suddenly resigns, then that creates big red flags on Wall Street that something is amiss in the corporation.

For the City of Washington, North Carolina, BOTH of those things have just happened, so we have to wonder why. Washington was supposed to get its audit report at the October city council meeting, but it was taken off the agenda with no explanation. Then word got out that the city's chief financial officer is resigning and leaving town.

What is up and why is it being covered up by the current regime until after the election?

This also leads to some head scratching about Mayor Sadler prominently saying the city was in good financial shape as his lead statement on a recently mailing. That was really odd because prior to that no one had questioned that issue. Maybe as the line from Shakepeare goes "the lady doeth protest too much."

Being that the finance officer is bailing out, citizens really do need a look at that audit BEFORE they cast their votes in the city election.

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Comments

Big Bob said:

( October 23rd, 2023 @ 9:37 am )

One of the few truths in the BO. The Washington and Greenville papers are fluff. Neither paper does any kind of investigative journalism and will never offend the local power structures. However the BO is not a substitute for either as this publication is more a space to express opinions, not investigative journalism. Nothing wrong with that but don’t be confused.

Concerned Taxpayer said:

( October 23rd, 2023 @ 7:58 am )

Hmmm! Both major negative financial indicators flashing red for Washington, NC at the same time. And our spendthrift mayor taking a "move along, nothing to see here" stance on it in his campaign mailing. Voters should run, not walk, away from the existing power clique, but how many voters will find out given that our local newspaper is a pathetic joke that covers only fluff? Taxpayers need to flood social media with this and get the word out before voters go to the polls. Put up a link and ask people to share it. If Washington were a business corporation, its stock would be dropping like a stone right now.

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