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Reston Association accepts clean FY2024 audit; renewal of audit contract noted
Summary
The board accepted the fiscal year 2024 audited financial statements and the audit firm’s TFAC/TCWG report; board members praised staff coordination and noted the audit firm’s contract renewal will require further action.
The Reston Association Board of Directors unanimously approved the fiscal year 2024 audited financial statements and the technical control and governance report presented to the fiscal committee.
Board members and staff praised the audit results and the coordination work by the association controller and finance team. "This was an A-plus audit," one board member said, noting that the auditors found no discrepancies and that the association received a clean report. The auditors provided a positive characterization of RA's internal controls.
Board members also noted that the audit engagement's initial three-year term is ending and that the association will need to decide whether to renew the current auditor or solicit competitive bids; staff said that procurement planning for the audit contract renewal is on the work program and will be addressed after the current year’s work is completed.
The board's vote approved the audited financial statements and the accompanying reports and instructed staff to proceed with procurement planning for the next audit engagement.
