John Haggerty’s letter misses the point (“GVR decision,” June 2). Mr. Haggerty claims the $50,000 is not being spent to tutor the GVR Fiscal Affairs Committee in the basics of financial reports, but to find out why there was a “deficit” in 2018 and not a “surplus.”
First of all, “deficit” and “surplus” are not accounting terms, they are economic terms, i.e., a trade deficit/surplus or a commodity deficit/surplus. Since neither the FAC nor Mr. Haggerty has been specific as to where in the financials they see a problem, I am guessing they are referring to the cash flow statement. Cash flow year to year can be difficult to understand, but since the 2018 statement has been audited, there should be no question as to its accuracy unless the FAC thinks the auditor is incompetent or dishonest. Now GVR is going to spend 50k to prove he is neither.
Steve Gilbert, Green Valley