North & East Lubbock Community Development Corporation is a non-profit that has received millions of taxpayer dollars in funds and donations and is budgeted to receive another $351,000 from the city of Lubbock this year.
It is a financially-troubled organization with warnings from its auditors of material weaknesses in its internal financial controls.
Now we learn that this taxpayer-supported institution has requested a criminal investigation of a former employee for possible embezzlement from the organization and that board members may have known and not informed the city council.
But, to make matters worse, the NELCDC's inability to perform financial audits for the past three years may have forced a criminal investigation. Their attorney advised board members that failure to prepare annual reports and make them available to the public is a criminal offense.
These sloppy financial dealings and questionable expenditures make it high time that the Lubbock City Council take a hard look at the business practices and integrity of the NELCDC and stop giving them money…
After all, it's our tax dollars they are giving away.
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'Consider This' is a commentary by KCBD Vice-President and General Manager Dan Jackson.
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