Board of Governors Accepts 10th Straight CAP Unmodified Audit
Civil Air Patrol’s unmodified financial audit for fiscal year 2017, accepted by CAP’s Board of Governors at its April meeting in Colorado Springs, marks the 10th straight year the organization has achieved that distinction.
“Having an unmodified audit as a nonprofit organization gives our donors piece of mind that we are fiscally responsible,” said Stacy Jackson, CAP’s chief financial officer. “It’s basically saying that our financials are correct and they are a good representation of our financial situation."
An unmodified audit “takes a good bit of work,” she said. “It’s been a lot of effort for both the CAP wings all across the country and the national staff – everyone’s played a part.”
The foundation for the first unmodified audit in CAP’s history, issued for fiscal 2008, dated to 2006 with the establishment of the organization’s Wing Banker Program. That program, begun by Col. Warren Vest, then finance director for the Virginia Wing, contributed to transforming CAP’s accounting procedures nationwide.
During its meeting the BoG, CAP’s governing body, also approved a new Investment Policy Statement and received a report from CAP’s national commander and CEO, Maj. Gen. Mark Smith, on noteworthy progress being made on a number of key initiatives and the BoG factored that into its strategic decisions. In addition, cadets and senior members from the Colorado Wing told the BoG how CAP has helped them succeed in school, in their careers and their lives.
The BoG also approved a new emeritus member – retired U.S. Air Force Brig. Gen. Leon Johnson, the president of Tuskegee Airmen Inc., who completed a six-year term on the board Oct. 26.
In addition, Col. Brad Lynn, former Alabama Wing commander and Southeast Region vice commander, is the BoG’s new vice chair. Lynn succeeds Col. Jayson Altieri, who served as BoG chair from March 2015-February 2017, when retired Air Force Lt. Gen. Judy Fedder was named chair. Altieri’s six-year term on the board ends later this year.
"It is an honor to follow in Col Altieri's footsteps and serve as the new vice chair,” Lynn said.
"Col. Brad Lynn, a longtime personal friend and colleague, brings an extremely healthy perspective to this governing body, and his service as the vice chair will make a huge difference in the board's ability to lead Civil Air Patrol's strategic future endeavors," Altieri said.
“This BoG meeting was very productive and informative,” Fedder said. “The selection of the next vice chair, Col. Brad Lynn, is an excellent choice, and along with new BoG Emeritus Member Brig. Gen. Leon Johnson, will bring great value to the Board’s deliberative processes.
"The highlight of the meeting — as always — was hearing from cadets and senior members. BoG members were impressed and awed by the professionalism, dedication and success represented by those who shared their CAP stories,” she added.