TWIN FALLS, Id. (KMVT/KSVT) Board members of the Twin Falls Y.M.C.A. are responding to the organization's apparent mishandling of hundreds of thousands of dollars in donations.

The board's written response comes a little more than a week after a report on the organization's financial insolvency. As reported last week, a February review by the national Y.M.C.A. allegedly discovered misuse or misappropriation of about $700,000 in donations and that then–C.E.O. Gary Ettenger was providing false financial information to the local board of directors.

Acting C.E.O. Andy Barry sent K.M.V.T. a statement Thursday morning addressing those concerns. A portion of Barry's statement read "we ultimately failed the community by allowing the financial operations of the Y.M.C.A. to become unbalanced and putting the organization at risk," and that "we understand that the community has a lot of questions. Unfortunately, we don't have all of the answers right now." The statement went on to spell out how the board will move forward financially. The board will cut an unspecified number of staff positions, will reduce senior staff salaries by 10%, and will implement an executive board to provide financial guidance and oversight.

One point not addressed in the statement is whether The Y will continue to provide services at cost or at a loss to community members who aren't able to pay. Barry says The Y has hired a local accounting firm to determine current operating costs, revenues, and to compile information on the last six years of finances.