ONB Letter to Explain the “Lost and Found” $1.6 Million




  1. DMD is not much better than the Controller’s Office. If the State Board would do their jobs they’d be reporting this too!

    • That is a whopping 0.01% interest rate that Old National is paying on a $1.64 Million deposit. With a cost of funds of 0.01% ONB ought to be making money hand over fist. Talk about being usury. Some poor old person would need to have a QUARTER OF A BILLION DOLLARS on deposit to even make a basic living amount of $25,000 in interest. What a joke!

      • If you will check, you will find that that is 0.01 percent per month. I will admit that it is a meager amount, but it is something akin to the published interest rates for short term CDs.

        • September 2011 till August 2012 is a full year dude. It netted the City a full 0.01% return. If it had been a month it still would just have been 0.12% annual which is an insult to money.

  2. Btw, wasn’t Jenny Collins Controller back then? What’s she doing now? Oh yeah. She’s getting paid $81k a year to mess up the Utility’s financial records.

    • If mayor Winnecke had any stones, he would demand that she be fired before she is eligible for a city pension. How about it Lloyd? Do you have tghe stones? Does she have somethng on you?

  3. Wouldn’t doubt if she does, or maybe it is something else?? I can tell you that the DMD is NOT a good run office and this Phillip guy is a JOKE! This sentence taken down by Editor because of personal remark.

  4. Wait a minute… Something is really amiss here.

    First of all, how could such a mistake POSSIBLY happen? Account withdrawals and transfers usually come with a set of account numbers, so unless they are one number off or something similarly understandable, I fail to see how this letter or Mr. Friend’s recent account puts this to rest. This letter only adds fuel to the fire, it seems, especially when we consider Mr. Friend’s statement says the DMD seemed as surprised as he was about this mistake and did not indicate they were the source of the corrective action.

    Something really fishy is going on here. I’m not sure what it is, but making payments in the amount of $1.4 million our of the wrong account just doesn’t happen, let alone get repeated again. All of this happening in the midst of an two year long struggle to reconcile the city books makes all of this doubly suspicious.

    Sure looks like someone in a high position was stealing from the City to me and is using the smokescreen of disastrous books to cover his/her tracks. If this is not what happened, there needs to be a thorough audit of 2011 until every penny can be tracked and every mistake reconciled. We have the former City Controller from that time in another high paid position when her past performance is suspect. This needs to be put to rest. Jenny Collins should be begging for an audit to clear her nameof any suspicion.

    • The obvious question is: did EVSC have a shortfall that they needed to cover for accounting purposes before they got the needed funds from other sources?

      This is just too out of the ordinary, and if it is not, perhaps Bob Jones will give us other examples of where his bank has misplaced over a million and a half dollars for a year.

      “There are more things in heaven and earth, Horatio,
      Than are dreamt of in your philosophy.”


  5. Makes me wonder if a payment to or from GAGE or Tom Barnett himself and his fake company that did business with the city is being covered up here. I really think some shenanigans in the DMD/mayor’s office are the #1 reason dems and republicans ganged up on Rick Davis. They didn’t want him snooping through DMD file cabinets.

    Winnecke/Weinzapfel/Tornatta all went after Davis. All 3 were on the GAGE executive committee – the same organization that paid Barnett under the table. This may be a new definition of SNEGAL. Sneaker and Illegal. (As opposed to Sneaky but Legal).

    • Good points. A full independent audit should be made into the DMD/ERC/Bond Bank/Barnett dealings.

  6. So they are stating that there was two separate transactions taken out of the incorrect account, one on 9/16/2011 and the other on 4/26/2012? I thought there was one transaction. Hmmmm.. Does anyone know FOR SURE if the City of Evansville’s book ARE COMPLETELY reconciled up to date?

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