Parish Council Provides Financials and Receives Positive Feedback from Charles Karpakis and Phill Floor

Moderator's Note: The original letter from our Parish Council may be viewed here.

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August 23, 2013

Dear Parishioners,

In preparation for the Special Parish Assembly this coming Sunday, August 25th and 12:00pm at Prophet Elias, we want to provide you with some additional information.

On August 16, 2013 the Parish Council President received a request from Chuck Karpakis and Phillip Floor to inspect and copy records of the Greek Orthodox Church of Greater Salt Lake including all bank statements, bank reconciliation records, general ledgers, check registers, statements of accrued liabilities and accounts payable, financial statements, and disbursement records for fiscal years 2012 and 2013.

The Parish Council President honored the request of Mr. Karpakis and Mr. Floor and the inspection of the records occurred August 22, 2013. At the conclusion of the inspection Mr. Floor stated that he came expecting to find things is disarray, but was pleased that everything was in order. In a follow up note to those who assisted with the inspection, Mr. Karpakis stated:

“I thank you for the opportunity to sit down with all of you in our effort to gain an understanding of our Church financial condition. I can tell you have all been working diligently to improve financial accounting and reporting. I think you have made great strides in this since the Spring General Assembly and am particularly happy that you are now keeping records on an accrual basis. This really helps in understanding our year-to- date costs of operations (regardless of the timing of cash payments) and our understanding of working capital in terms of current assets and liabilities.”

In His Name and Service

Your Parish Council