Sunday, April 12, 2015

Auditors' Responsibility


 Auditors' Responsibility

"Our responsibility is to express an opinion on these financial statements based on our audit. We did not audit the financial statements of Massachusetts Municipal Light Department Wind Energy Cooperative Corporation, which represents 24 percent of the net assets of the Municipal Light Plant and Subsidiary, 5%of the revenues and 20 percent of the expenses of
the Municipal Light Plant and Subsidiary. Those statements were audited by other auditors whose report has been furnished to us, and our opinion, insofar as it relates to the amounts included for the Cooperative, is based solely on the report of the other audits."
So if I read this correctly the wind turbine is 20% or 1/5th of the expenses incurred to run the TMLWP light dept.
I also read the wind turbine equals close to ¼ of the net assets.
Could this be why Driscoll chose not to have the Audit done by Braver again. To much info and when people read it may make them think the wind turbine is our ace in the hole. Maybe something else?
I’ll bet the people were not told it would be 1/5th of the cost to run the light dept.
I wonder how much the fine was for the mistakes made on the tax status.  I guess Driscoll knows why the lady was looking so long and hard to find what she was looking for. Who will pay the over 8k mistake?  Bonded Driscoll? Ratepayers?
 
Are the rates being looked at for another increase soon?
Does the commission do the town a disservice by not turning over the surplus equipment to the selectmen to do with it what they want?
With the needs of our highway dept and cemetery dept. for equipment more now than ever why not give “our” old to those in need instead of trading in for very little or nothing.
Do we have a select board now that will push for the return of the PILOT payment .
Questions to be asked at the next TLWP Commission for the answers you and I both deserve.
It is our Business after all.
Dave Smart
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 Who can buy shares in Berkshire Wind Power Cooperative?

2 comments:

  1. Customer ID # 1126 thats you and I if you were wondering. This is for the part ownership of the BWCC our #2 corporation. The light department commission has a large amount of answer to come up with soon.
    Did they know the amount of debt they were about to get into? Could we have done our own solar farm and not be in debt so far? We had the land needed and would have had very little inpact on the dump property. Driscoll has all this on his plate from start to finish. In time the bills will grow and will eat up all if not more of the reduction on the nuke plant loan deals,over 100k per year will be less to be paid and lost to poor investments like the wind power were into. I hope our commissioners now know not to get into the wind farm in Maine he was talking about getting into. With the deals he has us into now we are in trouble if the Seaman paper mill goes down.
    So this invoice shows Maintenance as the account.
    This is a payment for our part of the project. 32,034.60 per month. No wonder why the wind power cost us 30cents + per kwh. They only pay under 7cents for the solar power from farnsworth.
    charge to you look at your bills not under 7cents. No deal for you but its under the Nation grid price.

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    1. I have had so many calls for people who would like to install solar panels on my property. No can do, thanks to our Light Commissioners and Mr. Driscoll. They will not buy the extra power. I do think our Templeton Municipal Light will get run into the ground by these people. I do not believe we are big enough to play with the big boys. Bev.

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