MLGW's chief financial officer retiring

Memphis Commercial Appeal ^ | 4/19/7 | Michael Erskine

[SmithL]

After more than 34 years on the job, Memphis Light, Gas and Water Division's chief financial officer is retiring.

MLGW vice president John McCullough, who also serves as secretary-treasurer, will retire from the utility at the end of June, the utility announced today.

McCullough joined MLGW in 1973 as a junior engineer and rose through the ranks at the city's public utility.

[SmithL]

Neither Edmund Ford nor Joseph Lee will resign, though.

[SmithL]

Coincidence? Maybe, maybe not.

MLGW auditor says billing policies vague, unequal

By Michael Erskine
April 19, 2007

Memphis Light, Gas and Water Division's auditor is presenting her final report to the public utility's board of commissioners this morning on the internal review of credit and collections policies, including the handling of the Edmund Ford billing matter.

"Credit and collection policies were vague, ineffective and unequally applied to customers and inefficient in comparison to revenue recovered," said general auditor Lesa Walton, who read from her report to the board's audit committee.

"Adequate internal controls were not in place to ensure proper segregation of duties relative to customers' accounts."

During the time he was chairman of the City Council committee that oversees MLGW's budget and spending, Ford was allowed to amass more than $16,000 in debt to the utility without fear of cutoff.

Utility president and CEO Joseph Lee has testified before a federal grand jury investigating the matter and remains on the job.

"We have some pervasive improvements needed throughout the entire system," MLGW board member and audit committee chairwoman V. Lynn Evans said this morning.

Walton's presentation to the audit committee continues.

http://www.commercialappeal.com/mca/local/article/0,2845,MCA_25340_5493166,00.html

[AxelPaulsenJr]

Bet Joseph Lee’s buddies will still not have to pay their power bills.