|No Audit Report Led KSNE General Meeting to be Criticized|
|보스톤코리아 2012-03-12, 11:27:20|
Translated SeungYeon Woo
On Sunday, March 4 at 5:30 PM, during a general meeting, the Korean Society of New England (KSNE), a representative non-profit organizationof theKorean-American community in New England, was criticized by its members due to the absence of an annual audit report for KSNE’s operating expenses in 2011.
According to the president of KSNE, Han-sun Yu, “The audit report has not been finished yet. We will be presenting the final audit report through New England Korean News with the financial report from the Trusteeof KoreanCommunity Center Property.” Then he reported the plan for the future operation and budget without 2011’s annual expenditure report.
An auditor and also one of the members of the board of directors, Ok-hyunJeon, said, “I received the audit report a day before the general meeting. I didn’t have enough time to look through it. Since the KSNE is operated with the membership fee, we will make the audit report transparent. The report needs to be examined thoroughly within a sufficient amount of time. After checking details carefully and getting approval from the board of directors, it will be reported through the newspaper.”
KSNE bought a community building in 2010. Although, the building was managed by the Trustee of Korean Community Center Property and operated separately by KSNE, according to the previous director, the audit report about the balance of the construction fund and rental income and expensesfor the building should also be reported together with KSNE’s operation audit report.
Concerning this, President Yu said, “The treasurer has been busy recently; that’s why the audit report is delayed.”
The chairman of the Trustee of Korean Community Center Property, Yen Namkung said, ”I already completed the audit report and sent it to KSNE. The Trustee of Korean Community Center Property has been managed separately from the operation expenses of the KSNE by the auditors Sung-kun Kim and Young-ho Lee.”
In the general meeting of KSNE, they presented the budget proposal for 2012, and it was finally approved afterthe second request and agreement.
According to President Yu, this year’s revenue will total $139,800, assuming earnings of $3,900 from theannual fee of the board of directors, $3,400 from the KSNE membership fee, $32,500 from donations and receipts from events, and $100,000 from receipts from New England Korean News.
The total expenses will be $139,800, due to expenditures of $100,000 for the newspaper operation fee, $7,400 each for the New Year’s and year-end banquets, $28,700 for Korean American joint parades and various events, and $11,100 for event donations and the general operation fee.
The business of KSNE for this year has not changed much from previous years but there will be a special end-of-year banquet, as the president of the KSNE election has planned in the second half of the year.Also, they have some new plans such as setting up an ESL class for Koreans, organizing a Korean traditional art group, and participatingin Asian festivals.
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