A Letter From The Treasurer

Dear Members,

The Board of Directors convened on November 18 for a special meeting to pass a motion to hire a consulting CPA firm. This decision was made to address concerns raised by unfounded rumors regarding the association’s finances.

As your Treasurer, I want to assure you that Penn Estates’ finances are sound and healthy. Unfortunately, these rumors appear to have stemmed from a typographical error in the August 2024 Financial Dashboard. This document includes figures manually entered from our actual financial balance sheets. The original financial data has always been accurate, and the balance sheets, available on the PEPOA website, reflect this. The association is set to close out the 2024 budget with excess revenue as it has in the past.

On November 4, 2024, the Finance Committee hosted a Question-and-Answer session with Owens & Company, our current CPA firm. During this session, they presented detailed insights into how our finances operate and the rigorous process of our annual audits and tax filings. While it is understandable that financial reporting can be confusing, the reports do not reflect a deficit.

The Board of Directors will be selecting a consulting CPA from three qualified candidates: two previously interviewed and one recommended by the Finance Committee.

If you would like further clarification or need additional information, please don’t hesitate to contact the office or me directly at cmorton@pepoa.org to schedule an appointment.

Please rest assured that our finances remain transparent, accurate, and strong.

Sincerely,
Christine Morton, Treasurer

PEPOA