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petitioner’s desire to control the funds held in the Escrow
Account, the chief financial officer’s letter states as follows:
11. Again, the Council desires to obtain control of
Accounts Payable through a separate bank account which
would be funded by the current Escrow Account. Our
reason is the lack of control we currently have over
Escrow Account Funds. While I appreciate * * * [the
W&H executive who handled petitioner’s account on a
daily basis’] wish to shield us from the aggrevations
[sic] associated with Accounts Payable, I feel the
Council is quite capable of shouldering the
responsibility. If the other changes requested
previously in this letter occur within the next few
months, we will be willing to delay the transfer for a
period of time. Ultimately, the Council wants to
control all of its accounts.
In her letter dated March 10, 1987, to a W&H executive,
petitioner’s chief financial officer objected that the January
31, 1987, listing of accounts payable submitted by W&H that were
to be paid, contained invoices previously disapproved by
petitioner. Petitioner’s chief financial officer complained that
it appeared to her that W&H intended to circumvent the invoice
approval procedure that had been established. Her letter further
stated as follows:
This scenario only emphasizes the lack of control the
Council [petitioner] exerts over its own funds. * * *
[W&H] previously has expressed that the Council is incapable
of managing the Escrow Account, yet the recent activity has
been unacceptable to us and goes against standard accounting
principles. Just as * * * [W&H] insists on administering
the Council’s Accounts Payable, so will we insist that
standard accounting policy be followed, which includes
maintaining vendor correspondence and reviewing invoice
costs.
The proposed addendum to the Escrow Agreement discussed in
petitioner’s financial officer’s above letter dated January 30,
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