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Theft in 2014 – Really?

Enough already! I’m not sure what is more upsetting – the relentless media stories about public funds being stolen or realizing that it’s 2014 and in the public sector world known as local government, there are few checks and balances. Where’s the outrage?

We view our corporations and banks through a microscope, looking at every line item and over-analyzing the income statement to the point where any entity that does not meet expectations – by a penny in some instances – has its stock price decimated on ‘the street’.

Yet in any local government office, there are cash payments, unreconciled reports and the ‘trust’ that each dollar is making it to its final destination. It’s not. And if you disagree, we’ll be glad to speak with you.

Each day you in the United States, it is a certainty that you’ll find one or more stories of an employee who could not resist the temptation. There’s cash in the drawer or a manual accounting system that permits white collar crime to occur. No one will miss thismoney, or this, and so it continues.

The reason for taking the money doesn’t matter….remove the temptation. turnKey was created exactly for that reason. It’s 2014 and local government needs to be run like our banks. It’s a simple matter of identifying every property, business and individual. If the taxpayer owes money, it must hit the account to remove any receivable. Missing tax revenue must either have an excuse of why it’s not paid or it’s investigated.

The end result is transparency, accountability and making sure that each penny of tax revenue reaches it final target. It’s 2014 folks. It’s way past time. America needs its local governments to play using the same rules as everyone else.

Mark Schuster, Partner

June 12, 2014

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