The following was provided to me by an anonymous source, and has since then been posted on the Area 6 FB page as well as other forums. USPSA’s accountant resigned from USPSA, with an effective final day of September 30th because corporate funds were not being properly accounted for. Here is the entire text of her resignation letter:
September 16, 2014
Dear USPSA BOD members:
Each year I work closely with out accounting company and bookkeeper to ensure that the accounting records are in order. At the end of last year I started to notice charges on a company credit card issued to Kim (Williams, USPSA Executive Director – ed) for which there were no receipts. I have requested the receipts but she has not provided them. The bookkeeper comes in every month to balance the bank statement. Each time she comes in she finds a charge on the bank statement for the credit card payment must put the item into the suspense account. She has expressed concern that this is not being handled properly. The suspense account is now at $144,632.18.
Kim has become quite defensive about this issue. I contacted my attorney some time ago and he advised me to send a letter to the BOD with my concerns. I have documented everything concerning the missing receipts, and my attempts to resolve this issue. I have attached a copy of the suspense account for 2014.
I’ve enjoyed serving the membership of USPSA for the last 21 years. I am just trying to do the right thing. Therefore, my last day will be September 30, 2014.
If you have any questions or would like copies of the documentation I have in my possession, please contact me at your convenience.
Accounting Specialist, USPSA/IPSC Inc.
Essentially, what’s happening is that there are charges on the corporate card that are being made without receipts provided to accounting, and when the bill for the corporate card is paid each month, the money must be filed into the suspense account. Wikipedia has an excellent summary of what a suspense account is used for in accounting practice: “A suspense account is an account used temporarily to carry doubtful receipts and disbursements or discrepancies pending their analysis and permanent classification.”
For those interested, here is a pdf copy of the letter of resignation as well as a current look at the suspense account – no account numbers or damaging financial information is contained in this.
Kim Williams had recently come under fire when two members of the Board of Directors put forward a motion in a recent BOD meeting calling for her immediate resignation. The motion failed, and the members immediately resigned.
As of press time, we have contacted Phil Strader, USPSA President via email for a statement on this matter.