Mike:

We’d like you to double-check LHCC’s accounting treatment of the contingent funds which might be received from Aqua Virginia relating to the sale of the Utility. Your name came up in LHCC Treasurer John Martel’s explanation to the board of directors regarding certain accounting entries. He explained that an accountant required that these contingent monies be discounted to reflect their value in today’s dollars, or their present value. In simple terms, he said the discount was required because an accountant “cannot let that ride.”

Continue reading "Dear Mike Kilmer"

During March, The Haines Agency, a Stephens City-based security firm began providing personnel for Lake Holiday’s front gate. Their friendly staff is a nice addition to the community. We think it is important to look at the process by which the board of directors made the decision to select Haines.

Continue reading "Front Gate Contract"