Retainer returned to IDA

Accounting firm will not perform audit

By Joe P. Asher - [email protected]

The Harlan County Industrial Development Authority received a refund on a retainer to an accounting firm they had hired to perform an audit of the group’s finances.

Chairman Harry Gibson called the meeting to order. After the minutes of the previous meeting were approved, Gibson brought up the refund of the retainer.

“This is from Mountjoy, Chilton and Melody,” said Gibson. “This was from when we contracted them to do the audit.”

Gibson told the panel the accounting firm had decided against performing the audit.

“They hadn’t moved and we asked that if they didn’t intend to move on it that they refund our retainer,” Gibson said. “They sent a letter back, you all are welcome to read it. Also, they’ve sent a check for the $5,000 retainer.”

Gibson explained the mailing contained a document to be signed by the IDA attorney relieving Mountjoy, Chilton and Melody of any responsibility for an audit.

“I guess we need to hold that and wait on Russell (Alred, the IDA attorney) to look at it,” Gibson said.

Gibson moved on to a civil action concerning the IDA and C&H Manufacturing.

“I got served a summons,” Gibson explained. “The Harlan County Industrial Development Authority is being sued by C&H Manufacturing…it is an ongoing thing. We’ve got some equipment up there that’s in question.”

Gibson said he has turned the matter over to the IDA’s insurance carrier.

“I received a letter back from them telling us they have taken care of it,” Gibson said.

Gibson said he has received letters from the IDA’s insurance carrier explaining what their intentions are concerning the legal action.

Gibson told the panel no action was needed concerning the legal action at this time.

Reach Joe P. Asher at 606-909-4132 or on Twitter @joe_hde

Accounting firm will not perform audit

By Joe P. Asher

[email protected]

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