Attorney general confirms VCCF’s improper use of funds
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AG’s report details improper use of funds by Ventura County Community Foundation
Story updated at 11:16 p.m. March 24: The Ventura County Community Foundation improperly used $3.8 million of endowment funds earmarked to support VCCF’s operations and made improper, over-investment of permanent funds into money market accounts, according to the California Attorney General’s office. The VCCF voluntarily released the information on March 23. “Though the AG did Read More →
State budget to fund more UC campus startup incubators
Startups around the state got a boost with the stroke of Gov. Jerry Brown’s pen June 27 when he signed the state’s $171 billion budget. Included was $22 million earmarked for startup incubators at all 10 UC campuses. Assemblywoman Jacqui Irwin, D-Thousand Oaks, proposed the initiative, which will give $2 million every year for three Read More →
Review blasts Ventura County Community Foundation fiscal management
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Review blasts Ventura County Community Foundation’s fiscal management
Updated on June 22 at 4 p.m.: An independent fiduciary review found that the Ventura County Community Foundation undervalued donor-restricted funds due to improper fund management, VCCF announced on June 22. The seven-month report by auditor KPMG found that the foundation invested permanent funds in money-market accounts, over-allocated interest income to VCCF’s unrestricted funds and charged Read More →
Ceres fires KPMG over audit concern
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Ceres fires KPMG over financial report
Ceres Inc. fired its accounting firm Feb. 23 during a disagreement over a “going concern” statement in Ceres’ 2015 annual report. Ceres, a Thousand Oaks-based ag-biotech company, made the announcement in a filing with the Securities and Exchange Commission. The filing says Ceres hired Los Angeles-based Marcum as its new independent accountant and dismissed its Read More →
