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TAMA CD Funds mismatch and missing details about CDs
Please take a moment and understand the financial discrepancies in TAMA 2010 and 2011.

We, the life members of TAMA, who care about well being of TAMA are very concerned about the handling of finances for the past one year. There will be a board meeting of TAMA on 1/7/2012 to discuss the same irregularities. And, we want to make the attendees understand the gravity of the situation and prepare them with some pointed questions that they should direct at the TAMA EC and board. This is important because the board answers will determine the health of TAMA, which is paramount for the Telugu community of Atlanta. We don’t have faith in the board and EC to come forward and discuss the issues candidly. And, that’s why you need to ask the following questions.

1. What was the amount in CDs that was passed on to 2009 EC by 2008 EC? (Answer should be $126,968.69)

2. What was the amount in CDs that was passed on to 2010 EC by 2009 EC? (Answer should be $160,270.97)

3. What was the amount in CDs that was passed on to 2011 EC by 2010 EC? (Answer should be $169,405.97)
Follow up question should be: What happened to life membership fees of $9135, that should actually been put in CD?

4. As per the TAMA financial statement of 2011, the income was shown as $236,446.00 and expenses as $201938.60, resulting in a profit of $34,508.40, which should have been added to the then existing CDs worth of $169,405.97. Simple math says the value of the CDs must be $203,913.97. Now the question should be what was the amount in CDs that was passed on to 2012 EC by 2011 EC? (Answer should be $203,913.97).

5. If the CDs were broken for any reason, was it approved by the GBM as required by the by-laws?

6. How could the audit committee declare the 2010 financial statement to be correct, if the numbers don’t match with the above answers?

7. How could Madhu Tata, President of 2010 EC and Board Director of 2011 engage his restaurant business with TAMA, a non-profitable organization? Is it not a conflict of interest and ethics?

The following is the CD information gathered from 2009 EC. Where is the transparency promised by the 2010 EC before they got elected if they would not even provide complete information of CDs?

Summary of TAMA Accounts:

Beginning of 2010:
Starting CD Amount as of 2-JAN-2009 $126,968.69
Starting CD Amount as of 04-JAN-2010 $160,270.97
Life memberships amount from 2010 $ 9,135.00
Supposed total by end of 2010 $169,405.97
Total CD as per TAMA 2010 finance statement $ 90,059.26
Difference in CD amount by end of 2010 -$ 79,346.71

Beginning of 2011:

Starting CD amount should be $169,405.97
Total revenue as per TAMA statements $236,446.00
Total Expenses as per TAMA $201,938.60
Total Profit from 2011 as of 9/30/11 $ 34,508.40
Supposed total CD amount as of 9/30/11 $203,913.97
Total CD as per TAMA 2010 finance statement $ 99,194.30
Difference in CD amount as of 9/30/2011 -$104,719.67
Why do we see so much difference ($104,719.67) in CD accounts?

• For CD details at the end of 2009
Please visit the following link to view TAMA 2010 and TAMA 2011 Financial Statements

http://tama.org/node/156

As a life member it is our right to know the details of these mismatching amounts. We should not accept any masked information from the EC 2010 and 2011. We should demand a financial statement from the bank with CD account numbers. It is those ECs responsibility to provide that information to every TAMA member.

Let us object these kinds of manipulations by some individuals who controls the organization for their own benefit. Let us boycott attending any TAMA functions or donations to TAMA until we get a clear answer from both the ECs of 2010 and 2011.


Thank You
TAMA Life Member