College Station, TX (May 4, 2012) The United Way of the Brazos Valley has updated its
funded partner agencies with payment expectations based on community campaign donations
received in 2011. United Way of the Brazos Valley is going through a financial review.  The
difficulties arose because allocations were being paid on the basis of pledges rather than
properly projected collections.  There is no evidence of any theft or fraud.
 

United Way officials have calculated that the maximum amount that it can pay is 84 percent of
the original community campaign allocated amount per their contracts with funded partner
agencies.  The total contracted allocated funds were $522,902.77.  Donations collected in
2011, minus the United Way administrative fee of 17 percent, were $438,259.09.  Currently,
agencies have been paid $206,701.38 which is 40 percent of the original contracted amount.
This adjustment can be made according to the contract.  A plan is being developed to move
towards a resumption of allocation payments to partner agencies.
 

United Way of the Brazos Valley has employed two local accounting firms - one to act as our
contract controller, the other is performing a mid-year review of finances and operational
procedures.  In addition, we are undergoing our annual audit with a third firm. 
An interim President and CEO, Bob Fleischer (a previous President and CEO of our United
Way) has been hired to oversee our organization and the transition to a permanent
President/CEO.
 

United Way of the Brazos Valley is committed to strengthening trust with our community and
partners by engaging our board, staff and committee members with increased meeting
frequency and attention.

UNITED WAY OF THE BRAZOS VALLEY