Having just read the audit of Bay wave from June 2010 , some thing that every rate payer should read, would show that there is no way that Cr Faulkner could say that the gym at bay wave is paying its way and making money , for one thing the audit shows that nothing is recorded of money taken, so there is noway he can say the gym pays it way, the audit shows there is no way a true audit can be done because there is no records of money taken or spent , it did show that the income was $2,798,000 and out goings $4,838,00 which shows a loss of $2,040,00 could Cr Faulkner or any council member or staff member tell us , is this the way council run its business were money is paid for service , I.E is there any records of how many cars and trucks use route K , or is it done by the amount of money taken, is this what is known as T.C.C. creative accounting
E.K.Mills, Tauranga.
TCC responds:
Even though Mr Mills numbers are not correct his point is worth responding to. Audit NZ gave a qualified opinion for cash takings at TCAL - this is not uncommon with businesses that predominantly handle lots of small cash transactions and is a standard qualification. The Audit report also states that TCAL do comply with generally accepted accounting practice.
Audit also confirmed that the health clubs do not receive any rates subsidy.
And every vehicle using Route K, except motorbikes and bikes, is counted at the toll plaza.


3 comments
YES MR MILLS!
Posted on 15-07-2011 20:22 | By PLONKER
If anything the figures you are stating are way to kind to TCAL, examples such as TCAL does not pay rates, water rates, interest and debt repayments only go to make the loss higher than stated. Then of course there is the issue the repair bills currently in progress? Who is really paying??? Audit NZ would not always find the errors and ommissions in TCAL, for example the $50,000 airline guarantee that was paid from TCAL a few years ago, lots of questions arise about that to. There is no way Audit NZ will find these unless they accidently "trip" over them or are pre warned of there existance.
SUPPORT US OR ELSE!
Posted on 18-07-2011 00:30 | By TERMITE
Plonker, you forgot about the other 1/2 of the payout on the guarantee by TCC to Origin Air, the total guaranteed was $100,000, the other $50,000 was paid from Priorityone. Someone should advise Audit NZ of this dodgy guarantee and payout that is SCAMBUSTED!
Double the $ and you might be close
Posted on 20-07-2011 20:59 | By EYESPY
Mr Mills you are not even close. The position outlined by you correctly interprets what is going on with TCAL but the annual financial position is far far worse than you envisage.
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