The Ross Valley Public Financing Authority (RVPFA) has successfully approved its fiscal year 2024 financial audit during a special governing board meeting held on December 18, 2024. The board unanimously accepted the audit, which received a clean opinion from the external auditor, indicating that the financial statements are presented fairly and in accordance with accounting standards.

The meeting began with a roll call and the approval of the agenda, followed by a review of the minutes from the previous meeting. The financial audit was introduced by Finance Director Victor Damiani, who provided an overview of the RVPFA's financial position. He noted that the authority primarily functions as a conduit for funds between the district and bondholders, with total assets reported at approximately $90.2 million.

Damiani highlighted that the authority's net position showed a slight decrease of $23,000, attributed to timing issues related to receivables and payables. He also mentioned that the authority earned about $6,500 in interest income during the year.

John Cropper, the external auditor, confirmed the clean audit opinion, which is essential for maintaining the authority's financial integrity and compliance with bond covenants. The board expressed satisfaction with the audit results, emphasizing the importance of transparency and accountability in public financing.

The meeting concluded with the board's approval of the audit, reinforcing the RVPFA's commitment to sound financial management. This decision is expected to bolster confidence among stakeholders and ensure continued support for the authority's financial operations in the future.