It appears the Lumumba administration is practicing the accounting that made Worldcom and Enron famous - for the wrong reasons. WLBT's Anthony Warren reported:
Nearly all of the Jackson Zoo’s finances this year have come from city appropriations, not ticket sales, gift shop purchases, or rentals, so says Chief Financial Officer Fidelis Malembeka. On Monday, Malembeka told the city council the zoo had brought in around $714,000 in revenue this fiscal year. However, $677,000 of that came from appropriations from the city’s general fund, not transactions made at the park. “You have the revenues and then you have the expenses,” he said. “Your transfers that go into [that] are categorized as part of your revenue. That’s what’s coming in, just like every other fund you look at. When it has a transfer that comes in from outside sources, that is reported as revenue.”
The budget overview came just days after WLBT reported that the zoo had only brought in around $40,023 in revenue from January to July of this year, only about $1,600 more than the West Jackson park generated during the same time the year before. “The $714,000, that was inclusive of the transfer of about $677,000 and some change, and then the revenue that came in from the gift shop, vendor fees, and admission fees,” he said. That means for the fiscal year, the zoo had only brought in about $37,000, through July 31, about $13,779 less than it had generated the year before. Ward Six Councilman Aaron Banks questioned why the administration was counting general fund appropriations as revenue.... Rest of article.
You.can't.be.serious.
41 comments:
If only Shad were able to examine Jackson’s ledgers, there would be no need for Federal sting operations to put the criminals in jail.
For the sake of the poor animals at this horrific zoo, PLEASE send the animals to a better home and shut that place down!
It's a cargo cult pretending to be a government by mimicking what they have observed real governments do.
Marxist math, which replaced "fuzzy math."
Robbing Peter to pay Paul...round and round and round it goes and where it lands nobody knows...even for those who are supposedly in charge! Disgusting!!!
It’s amazing how stupid these people are
Jackson is a Ponzi Scheme. Right?
2+2=7.5. Knew I was right.
Close the Zoo & give the few remaining animals to another zoo!
Hoo boy. The FBI's forensic CPAs are going to have a party when all the city's financials are subpoenaed. This is just the proverbial tip of the iceberg. (Right?)
August 15, 2024 at 8:42 AM
"Cargo cult." Excellent label. Thank you for motivating me to look it up.
The more I observe the operation (or lack thereof) of local governments - Jackson's especially - I have come to realize that the average citizen (and I include myself) cannot possibly conceive of the level of incompetence of these employees.
The mayor is a compulsive liar. That makes it impossible to identify a particular reason for a lie. Sometimes he has a reason. Sometimes he doesn’t have a reason other than lying is his comfort zone. If someone asked him where he had lunch he’d lie.
The idiots running the city are not business men/women. If they were they would have made the hard but obvious business decision to close the zoo. The cost far outweighs the benefit. Use a fraction of that city funding to clean up Livingston Park without the expense of animal care and plan for a sustainable future. Give them another five years and they will figure it out. Jeez.
I reckon it’s time for Jethro Bodine to cook the books with his “times and goes into” recitals…
Really is voo doo economics
I'll step out on a limb and guess that Chief Financial Officer Fidelis Malembeka is not a CPA.
The FBI forensic accountants will not come because they would rather quit than risk their lives in the murder capital of the USA. Sounds like a pretty good gig for those stealing the money.
According to this financial genius if I take $100 out of one pocket and put in the other pocket I just made myself $100
After the trials and pleas and sentencing of all the criminals involved with the FBI sting the state will take over Jackson. One of the first things on the agenda to reclaim the city for the citizens will be to shut down the zoo. The animals will appreciate it.
https://projects.propublica.org/nonprofits/organizations/510157624 What a properly run operation looks like
The feds will hire a consultant forensic auditor to decide who goes to jail and immediately a "community action group" will take out TV ads saying, "You can't say it is for our benefit if we can't be involved!"
I just want to go back to the Jackson of my childhood in the 80s and 90s. I know even then it was worse than you boomers remember because my boomer mom told us. I also want to go back to the days when TV commercials for Malaco records and Leadco but the cultural marxists have robbed us of all that is good.
12:31, from reading his bio, he’s doesn’t even have an accounting degree. Most of his bio is spent describing his golf accomplishments. He is a member of the professional golf association in Zambia, which is really what you’re looking for in a CFO for a city whose finances are a huge dumpster fire.
It is total fantasy, to assume that authorities out in Yankeeland, truly intend to "clean things up" in Jackson. Consider who controls them (zoom all the way out, and summon a mental image of the globe, pinpointing a capital far, far, from our own). One of their minions is about to be installed, to administrate, at a national level. The current shake-ups are designed only as threats - illustrations to wayward minions, of what can happen if they don't toe-the-line.
That exam ain’t what it used to be, so I wouldn’t be surprised.
To continue the Jethro Bodine comparison, Malembeka has "a brain in turmoil." Doubt he has ever heard of Generally Accepted Accounting Principles (GAAP).
So how much of the $40k came from other "appropriated funds" like schools and government funded daycares?
12:31 for today's win!
In this case I think it’s Zoo Doo economics
@4:36 PM It came from the traffic signal maintenance fund, but not from Chowke's "entertainment" fund.
12:31. He is a freaking GOLF PRO. Read that again.....a GOLF PRO. https://www.jacksonms.gov/contacts/fidelis-malembeka-jr/
Hey there Mr Bigtime Bean Counter- That ain't how you 'sposed to do that1
@3:57 PM - 😂…and Jethro had a “giant brain”, unlike the Chief Financial Officer and the rest of Chokeme’s minions
12:31. No. He is a professional GOLFER. Really. YOU CAN'T MAKE THIS STUFF UP.
So he was successful at golf in college. And?
How much are the expenses, including salaries?
Too funny. Now Abram Muhammad wants Jackson to advertise the zoo at the other city run dump, the airport.
The state of the zoo reflects the state of Jackson. I have many wonderful memories of the zoo as a child and am glad my children could experience a few of them (like the train ride) about a decade ago. But the obvious problems that keep causing people to leave Jackson and more not to visit must be addressed or else almost everything else in Jackson will share the fate of the zoo. This all makes me very sad as most residents of Jackson and current leadership seem to prefer the status quo rather than actual improvement. I think those who label themselves as "progressive" are selling something they know only the gullible will buy.
Need to get PETA and other animal groups involved to use courts to close zoo down and protect the animals
Will a CPA or attorney poster please tell me if this is prosecutable fraud?
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