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By Kristine Henry and Kristine Henry,SUN STAFF | August 14, 2002
For the head of W.R. Grace & Co., signing off on his company's financial statements yesterday under the threat of 20 years in prison and $5 million in fines if the numbers are wrong was a bit like going through customs in some foreign countries. "You know in your heart you have no reason to be nervous, because you haven't done anything wrong," said Paul Norris, chief executive of Columbia-based Grace. "But you see all these people standing around with machine guns and you think, `I hope nobody makes a mistake.
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NEWS
May 5, 2014
The Board of Education of Harford County is seeking applications from interested county residents to fill one opening on the school system's Audit Committee. The purpose of the five-member committee is to assist the board in fulfilling its fiduciary oversight responsibilities. The committee serves as an independent body to monitor the school system's financial reporting processes and internal controls. The committee meets at least quarterly to review financial performance and may meet annually, in separate sessions, with management, the internal auditor and the external auditor.
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BUSINESS
By BLOOMBERG NEWS | September 26, 2003
Allegheny Energy Inc., the Hagerstown-based energy company that has been fighting to stave off bankruptcy, yesterday reported a net loss of $632.7 million for 2002 and restated the company's balance sheet for 2001 after completing an accounting review that began last year. The loss was equal to $5.04 a share and compares with net income of $417.8 million, or $3.47 a share, a year earlier, the company said in its delayed annual report filed with the Securities and Exchange Commission. The results included a $586.
NEWS
By Joan Pratt | August 13, 2012
On July 30, The Sun published an op-ed by Mary Alice Ernish, founder of the grassroots non-profit Audit Baltimore, which contained a series of questions about the city's auditing practices. This week, Comptroller Joan Pratt, who oversees the city's auditors, provided responses. • Why have some city agencies not been audited in over three decades? The city's financial statements, which are prepared by the Department of Finance, include all of the expenses and revenues of all city agencies.
NEWS
June 17, 1997
AN ORGANIZATION that collects money in the name of Martin Luther King Jr. takes on certain obligations. One of them is full disclosure of its finances.By releasing three years of detailed financial statements on the "Keeping the Dream Alive Committee" last week, its chairman, Annapolis alderman Carl O. Snowden, has fulfilled that obligation to the public. It should have happened earlier.Asking such an organization to disclose its finances was not unreasonable. People attend the annual event thinking that they are making a donation to cover the cost of the dinner and awards.
NEWS
By Tom Pelton and Tom Pelton,SUN STAFF | June 13, 1997
Less than a third of the cash raised over four years at the annual Martin Luther King Jr. dinners led by Annapolis mayoral candidate Carl O. Snowden has been donated to community organizations, according to financial statements he released yesterday.According to the statements, released after an inquiry by The Sun, the events in honor of the late civil rights leader raised $47,674 from 1991 through 1994.Of that amount, the organizing committee has given a total of $14,981 to more than a dozen Annapolis-area organizations, including the Annapolis Boys and Girls Club, the Black Political Forum and the Anne Arundel County Youth Chapter of the National Association for the Advancement of Colored People, according to the statements.
NEWS
By Compiled from the archives of the Historical Society of Carroll County | July 10, 1994
25 Years Ago* Westminster Mayor Joseph H. Hahn, Jr. and Councilman Donald E. Freeman, Sr., have released financial statements of their respective mayoral campaigns, showing Freeman spent a total of $587.75 and Hahn a total of $426.49. Both filed financial statements with court officials showing their expenditures for the May 12 election in which write-in candidate Freeman challenged incumbent Mayor Hahn, and lost. -- Democratic Advocate, July 7, 1969.50 Years Ago* Dr. William R. S. Denner passed away at his residence in Manchester Monday evening in his 62nd year.
BUSINESS
By CHARLES JAFFE | September 15, 2002
THERE IS a lot of information investors wish they could get from mutual fund companies. The top executive's certification of the fund's financial statements is not part of it. Don't get me wrong. If the Securities and Exchange Commission intends to have every corporate top dog in America vouch for the truth in the numbers, it won't get any complaints from me. It will just have a hard time proving that such a document is actually fruitful and worthwhile for investors. "I don't think a certification would have any substantive meaning for the shareholders of a fund," says Burton J. Greenwald of B.J. Greenwald & Associates, a Philadelphia-based industry consulting firm.
NEWS
By Phyllis Brill and Phyllis Brill,Sun Staff Writer | August 14, 1994
An auditor's review of financial statements of Harford County's 12 volunteer fire companies suggests that their reporting methods could be improved and that their financial activities should be audited regularly by an independent certified public accountant.But County Council auditor Michael Treherne, who reviewed the companies' financial statements at the council's request, said he found nothing seriously objectionable. He told the council that his review was not a complete audit.Mr. Treherne, who summarized his findings at the council's meeting Tuesday, suggested that all annual financial reports of the companies should be prepared on a "review" basis by an independent certified public accountant in accordance with accounting principles.
NEWS
By James Bock and James Bock,Sun Staff Writer | August 18, 1994
In a review of the NAACP's 1993 financial statements, a Washington accounting firm has found that the civil rights group did not disclose a deal to pay a fired aide to Executive Director Benjamin F. Chavis Jr. up to $332,400."
NEWS
By Mary Alice Ernish | July 30, 2012
Recent disclosures about the failure of Baltimore City to conduct regular departmental, agency and program audits in over three decades have informed and enlivened the typically staid City Council meetings. City residents and taxpayers rightfully are seeking answers about exactly how the city spends their hard-earned tax dollars. They are looking for written proof in the form of specific departmental and agency audits to demonstrate that the city is conducting its financial affairs responsibly.
NEWS
July 1, 2012
Baltimore's City Council this week voted down a proposed charter amendment that would have required that each city agency be audited every two years. And no wonder; such a proposal may be unprecedented in Maryland. A review of the charters of Anne Arundel, Baltimore, Harford, Howard, Prince George's and Montgomery counties reveals that they have no such requirement. No, in those jurisdictions, the charters require that audits be conducted every year. During the debate on the amendment, Mayor Stephanie Rawlings-Blakeformally requested that the city comptroller's office, of which the city auditor is a part, investigate some agencies, including the Department of Recreation and Parks, whose books have not been audited for decades.
NEWS
By Alison Knezevich, The Baltimore Sun | November 16, 2011
As the Baltimore County Council prepares to take up an ethics reform package proposed by County Executive Kevin Kamenetz, some members say they're wary of a measure that would make it easy for anyone to access their financial disclosure forms. Kamenetz wants to post elected officials' forms online starting in May, a key part of the legislation. Open-government advocates say such disclosure lets citizens easily examine potential conflicts of interest. Now, anyone who wants to see a Baltimore County official's form must go to Towson to pick up a copy of the document.
NEWS
March 10, 2011
As a 32 year federal employee, the last 26 years with the Social Security Administration, I disagree with the letter to the editor dated March 8, "Social Security employees deserve a pay cut or two. " The vast majority of SSA employees are hard working and dedicated to their jobs. The employees in the office I work in, the Office of Finance, are true professionals. All of our accountants have a bachelor's degree, and many have an advanced degree. Our employees come to work every day dressed in proper business attire, ties for the men and professional attire for the women.
NEWS
By Tricia Bishop and Tricia Bishop,tricia.bishop@baltsun.com | January 29, 2010
The head of the Baltimore panel that oversees city officials' financial disclosure requirements has failed to submit her own mandated statements since 2006. Dana P. Moore, a Baltimore lawyer who was appointed to a volunteer position on the city's Board of Ethics in 2004 and became its chairwoman four years later, filed financial disclosure statements in 2005 and 2006, but not before or since, according to a review of City Hall records by The Baltimore Sun. She will be subject to a $250 fine for each of three missing forms.
BUSINESS
By JAY HANCOCK | March 2, 2008
The Securities and Exchange Commission just launched its Financial Explorer software giving Web users new options to manipulate and interpret financial information filed by U.S. companies. "At the click of a mouse, Financial Explorer lets investors automatically generate financial ratios, graphs, and charts depicting important information from financial statements," the SEC says. "Information including earnings, expenses, cash flows, assets, and liabilities can be analyzed and compared across competing public companies."
NEWS
By Joan Pratt | August 13, 2012
On July 30, The Sun published an op-ed by Mary Alice Ernish, founder of the grassroots non-profit Audit Baltimore, which contained a series of questions about the city's auditing practices. This week, Comptroller Joan Pratt, who oversees the city's auditors, provided responses. • Why have some city agencies not been audited in over three decades? The city's financial statements, which are prepared by the Department of Finance, include all of the expenses and revenues of all city agencies.
BUSINESS
September 2, 1992
Market opens with a little gainThe stock market eked out a small gain today in quiet late-summer trading.The Dow Jones average of 30 industrials inched ahead 0.81 to 3,267.07 in the first half hour of trading. Gainers outpaced losers by about 7 to 6 on the New York Stock Exchange, with 590 up, 516 down and 682 unchanged. Big Board volume came to 22.77 million shares as of 10 a.m. on Wall Street.Analysts said investors were cautiously watching the dollar as it touched new post-World War II lows against the German mark.
BUSINESS
By Laura Smitherman and Laura Smitherman,Sun reporter | August 3, 2007
Executives with Municipal Mortgage & Equity LLC, the real estate and alternative-energy project financier, tried to reassure investors yesterday that the business is growing and to dispel the perception that it's involved in the subprime mortgage morass. But Chief Operating Officer Charles M. Pinckney warned that the Baltimore company might not file corrected financial statements by the end of November, which had been the goal. The company hasn't filed any financial statements in the past year.
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