Thursday, March 20, 2008

Tom Reynolds Retires, Free to Serve on Nonprofit Boards

Representative Tom Reynolds (R-NY) will announce his retirement from public service. Tom chaired the National Republican Congressional Committee for much of the period when Treasurer Chris Ward pilfered their treasury by as much as $1 million. Even more than that is unaccounted for, $1.73 million.

What did Tom do in his role as Chair of their governing body, the Executive Committee? He didn't once meet with an auditor, and this is after the passage of Sarbanes-Oxley. Mr. Reynolds never heard a partner from the audit firm present the financial statements and management letter. Never did Tom sign a check to pay for such a firm's services. That seems odd for a former director of a Better Business Bureau.

Tom failed to live up to a standard set by most local nonprofit boards in providing governance oversight to the NRCC. With this is the kind of national leadership, retirement surely is in order.