nvdaily.com link to home page

Traffic | Weather | Mobile Edition
Archives | Subscribe | Guide to the Daily

Local News arrow Charities arrow Front Royal

| 0 | 0 Comments

SAAA begins new effort to pay debts

By Joe Beck -- jbeck@nvdaily.com

FRONT ROYAL -- An improving cash flow is allowing the Shenandoah Area Agency on Aging to boost its efforts to pay off a large debt that has hobbled the agency for months, SAAA officials said Friday.

The news of an expanded debt paying effort was one of several pieces of news that cheered agency board members during their meeting.

"We're starting to make a little bit of inroad in paying past due bills," said Board Chairman John Hudson. "That's a very positive development."

Jonathan Price, SAAA's director of operations, distributed a finance report describing additional revenue and carry over cash that will allow the agency to begin paying debts totaling $40,000 in May.

"May will be the first month SAAA will have the ability to start honoring its debts," Price said in the report.

The agency's debt of $254,000 has loomed over it through much of a financial crisis that erupted around the same time as the dismissal of the agency's three top executives in
September 2011. Checks made out to vendors but never sent were found in the office, and subsequent cash flow problems prevented the agency from paying many of them. The Virginia State Police are investigating the agency's financial records for evidence of criminal wrongdoing.

Some vendors were put on a payment schedule and have been receiving money, but the agency managed to hold off on paying others until its finances strengthened.

Price said sharp cuts in spending, including a payroll that has shrunk by 57 percent from the same time last year, are beginning to brighten the agency's financial picture and will continue to do so in the coming months. Travel and office expenses have also plummeted, he said.

"Our expenses are way down, they really are," Price said. "We have cut everywhere possible."

Price also praised the recent hiring of Cindy Vance, a part-time accountant, as a major reason why the agency has managed to resolve several bookkeeping issues lingering from last year's budget. Vance is a CPA and assistant professor of accounting at Shepherd University.

"She's been great to work with, very knowledgeable," Price said. "It was a great decision, much needed."

Leave a comment

What do you think?

(You may use HTML tags for style)


Comments that are posted on nvdaily.com represent the opinion of the commenter and not the Northern Virginia Daily/nvdaily.com. If you feel that a comment is objectionable, please click on the Report Abuse link above and in your e-mail to us include the comment. We will review the reported comment and make a decision on deleting it if we feel that it contains inappropriate content.


Look Who 'Likes' nvdaily!

Daily readers: Click the "LIKE" button above to get Daily news and breaking news alerts on your Facebook page.

Activity & Recommendations

Local News Sections

Agency on Aging Agriculture AP Wire Features Apple Blossom Festival Aviation Basye Berryville Bob Wooten Boyce Breaking News Business Charities Charles Pannunzio Civil War Clarke County Colleges Corrections Courthouse Notes: Permits, Transactions Courts & Legal News Crime & Public Safety Economy and Jobs Edinburg Education Edward N. Bell Election 2012 Entertainment Environment Fairs & Festivals Fire & Rescue Fort Valley Frederick County Front Royal George Washington National Forest Hard Times Health History Homes In The Spotlight Ledger Livestock Local Markets Maurertown Media Middletown Military & Veterans Moms Mt. Jackson New Market Page County Pets & Animals Politics Quicksburg Religion RSW Jail School News Shenandoah County Shenandoah Farms Volunteer Fire Department Star Tannery State Stephens City Strasburg Toms Brook Traffic & Transportation Utilities Warren County Weather West Virginia Winchester Woodstock Year in Review

News | Sports | Business | Lifestyle | Obituaries | Opinion | Multimedia| Entertainment | Homes | Classifieds
Guide to the Daily: Advertise | Circulation | Contact Us | NIE | Place a Classified | Privacy Policy | Subscribe

Copyright © The Northern Virginia Daily | nvdaily.com | 152 N. Holliday St., Strasburg, Va. 22657 | (800) 296-5137

Best Small Daily Newspaper in Virginia!

nvdaily.com | seeshenandoah.com