Why did the City of Powell River spend $4,778 last year on audit and legal fees for a shell company the city has no need of and has never used [“Powell River city council hears report on dormant corporation,” December 24]?
Powell River Power Development Corporation has assets of $20 (no typo), no activities, no income and no expenses. What was there to audit for $3,500?
A legal entity formed in 2012 for a hydro project on Freda Creek that never got going (which happens; c’est la vie), it has never been used. Nor does the city have a use for it, other than a vague notion it might be useful to have (in which case it would need its terms changed - ie, more legal fees - anyway).
How much money and staff time gets frittered away on things like this? Is this why taxes are so high here?
I’m reminded of those Questrade ads on TV where the customer learns the only ones making money are the fund managers.
Don Button, Fairmont Street