City has right to inspect Chappie James Memorial finances

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Under its stewardship agreement with the City of Pensacola, the General Daniel “Chappie” James, Jr. Memorial Foundation had to send the city an annual report on March 2, which included the nonprofit’s year-end financial statements. It didn’t.

Also, the City has the right to inspect or audit the Foundation’s financial records at any time upon reasonable written request, and the Foundation agrees to fully cooperate with the City in such case.

Background: The Pensacola City Council approved the stewardship agreement, which allows the Foundation to build the memorial plaza at Wayside Park on Jan. 18, 2024. Foundation chairman Cris Dosev signed it on Jan. 31, 2024. Read SA.City.CJM.

Section 10:
The Foundation shall be required to prepare and submit to the City an Annual Report of its activities. This Annual Report shall be submitted in writing to the Mayor or designee annually within 30 calendar days of the anniversary date of this Agreement.

The Annual Report should include, but not necessarily be limited to, a message from the Foundation Chair, a listing of the Foundation’s then-current officers and directors, a recitation of the Foundation’s activities and achievements during the prior year, and a copy of the Foundation’s most recent year-ending financial statements, which must be audited only if required under the rules of the United States Internal Revenue Service or the laws of the State of Florida.

The City reserves the right to inspect or audit the Foundation’s financial records at any time upon reasonable written request and the Foundation agrees to fully cooperate with the City in such case.

WHAT’S NEXT

The Foundation should soon receive a written request to inspect and audit its financial records. I recommend that the Escambia County Commission and Tourist Development Council table any funding requests until the inspection and audit are completed.

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City has right to inspect Chappie James Memorial finances

WHAT’S NEXT

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