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The Villages
Saturday, June 15, 2024

Who is looking into fraud and waste in the amenity budgets in The Villages?

To the Editor:

When we moved here 11 years ago I thought: If we ever experience Jimmy Carter-year type inflation again, they will have to raise rates, but won’t be able to, then what?  (I mistakenly thought the rate was contractual – apparently not.)
As real inflation rises (generally it’s about two times the published rates) we will eventually not be able to maintain our community.  So we have to have a system of increasing it.
I suggest beginning with tying the rate increase to the percentage increase in Social Security. Truthfully, that may not be adequate but it’s a start. Of course one could use the CPI or PPI, but within those indices, which one?
I would like to see the proposed budgets, by CDD, published in The Villages Daily Sun.
I also have a concern about fraud. With these budgets getting much larger, they are more ripe for fraud. As a CPA and retired Certified Fraud Examiner and Certified in Financial Forensics, I know it is exceptionally easy to divert funds without it ever being noticed. “Pigs get fat, hogs get slaughtered.”
Audits are necessary to assure the financial statements are reliable AND to ascertain that the budgets are being adhered to. BOTH are very necessary.  Fraud, waste and abuse (and those are things lines) must be guarded against. There is ALWAYS room to save 5 percent – and that is on a par with our annual increases.

Ken Peters
Village of Collier

 

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