City Council Approves Fund Transfer to Complete Accounting Portion of Rye Golf Club Report

The City Council’s Rye Golf Club investigation findings report released on Feb. 27 was not the complete and final report. The council and its financial investigator, Bill Breen, were waiting for banks to release financial records in order to complete the report. 

Those records have been released, but in order for the final accounting work to be completed, the council had to vote to transfer $12,000 from the city’s contingency fund to legal services to pay financial auditor William Breen’s fee to complete the work. Breen has been waiting to see if the city’s insurance carrier would require more detailed information from the banks before completing the analysis, but the council voted unanimously to move forward to pay him his estimated fee of $10-$12,000 for the final piece they need to complete the financial portion of the report.