After a sweeping audit of its operations, Valley PBS is set to send nearly $340,000 in funds to its chief grantmaking agency, the Corporation for Public Broadcasting.
Jeff Aiello, the President and CEO of Valley PBS, revealed the news in an update to members and supporters of the Central Valley’s public television station.
The big picture: Valley PBS will pay $38,946 in fines in the upcoming fiscal year due to infractions found in the audit.
- The station also over-reported non-federal funds and will have to repay nearly $300,000 in Community Service Grant funds later this year.
- Those funds will be withheld from the station’s 2023 Community Service Grant and will not impact its operational cash nor come from viewer donations.
The backstory: Results of the audit were released earlier this year. The Corporation for Public Broadcasting Inspector General conducted a full audit of the station to verify that it was compliant to receive its full Community Service Grant.
- The audit looked into the station’s operations and financial reporting from July 2019 to July 2021 and found several errors and misconduct by past station management.
- Valley PBS is typically awarded around $900,000 annually through the Community Service Grant.
What we’re watching: Along with the financial part, Valley PBS has presented an outline of corrective actions that the station is implementing to the Corporation for Public Broadcasting to ensure property compliance and best practices.
- Such actions include outsourcing the station’s main financial accounting to NETA Business Center.
What they’re saying: Aiello said in his message that Valley PBS has reinvigorated its efforts to increase transparency of its operations to the public and its regulator.
- “While this was a difficult chapter in the history of Valley PBS, it was long needed and, I’m happy to report, it was a process that has ended with a renewed trust and understanding between the station and the Corporation for Public Broadcasting,” Aiello said. “The CPB has embraced our corrective measures and is appreciative of our management team’s transparency and desire to make Valley PBS the best it can be.”