The August 12, 2003 LMUD meeting proved once again that Bill Stewart, LMUD's new Controller can not produce a Financial Report. Stewart gives the LMUD Board cash flow reports month after month and they don't complain. 

 Who's hiding What from Whom ?

A cash report is useless unless you get a balance statement, asset and liability....etc.   It's like knowing that your checking account balance is $100 because you deposited $100, but you don't tell your spouse that you wrote checks for $200.    

Stewart told the Board that the audit is underway and that the Financial Report (?) will be published according to law (90 days after the close of the fiscal year).    

Pie charts were published in the August issue of "Ruralife" magazine. We don't want to say that they are useless......but they are. No dollar amount, no dates, no nothing..........

Bill Stewart is not capable of preparing a Financial Statement.  He does produce "Cash Flow" reports.   If this is all that he knows how to do........we are in big trouble. 

What is LMUD hiding...?  

The "Ruralife" magazine costs around five thousand dollars to send to the ratepayers........Did you notice the amount of LMUD news that it includes.........three articles.......four if you count the REISSUE of the "nests" article...