Great organizations always look within to ensure they’re hitting the mark, and an outside set of eyes is always a good thing.
Transparency is a word that’s tossed around a lot these days, and it’s an important aspect of how we operate. In accounting terms, your chamber recently received an unqualified (clean) opinion with no adjustments to our independent financial audit. What does that mean in layman’s terms? It means auditors took a deep dive into our financials and found that we operate by sound financial principles. The firm noted they randomly tested 83 percent of expenditures from Hilton Head Island ATAX funds invested by the chamber, which greatly exceeds what’s required. Accounting firms stake their licensing and reputations on getting it right. We do too.
That threshold for testing expenditures is extremely high, and it’s rare for an organization to have no adjustments to its books following an audit. We’re extremely proud to achieve it and it’s thanks to our board and staff’s commitment to excellence, detail, and transparency.
Why do we do it?
Your chamber is committed to continuing to provide information about its mission, operations, and financials in a completely transparent manner. Our audits, marketing plans, and budgets are posted online for all to see. We believe that taking a close look at operations is vital for any organization to ensure success.
Today the polls in Beaufort County open for early voting. It’s an important election year, which is why this week’s Power Hour is going to give a brief overview of what we can expect from noted election expert Ashlee Rich Stephenson with the U.S. Chamber. We will also be hearing about the new housing consortium for Beaufort County and the surrounding region from Beaufort County Council Chairman Joe Passiment. Click here to register and tune in this Wednesday morning at 9:15 a.m. You’ll be glad you did.
Make it a great week!
Sincerely,
Bill Miles,
President & CEO
Hilton Head Island-Bluffton Chamber of Commerce
