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San Diego Water District board accepts clean audit, reviews year-end budget and CIP work; staff says water supply OK
Summary
The San Diego Water District board received an unmodified audit opinion for fiscal year 2023–24, heard staff describe a modest increase in net position and available reserves, reviewed capital projects including Encinitas–Cardiff water‑looping work, and was told recycled and Lake Hodges supplies helped revenues exceed projections.
The San Diego Water District board on Jan. 22 received an unmodified ("clean") audit opinion for the fiscal year ended June 30, 2024, and accepted staff's year‑end budget report showing higher‑than‑expected revenues and increased available reserves.
District auditors reported that the financial statements were fairly presented in all material respects and that they found no disagreements with management, no material weaknesses in internal control and no evidence of fraud. Finance manager Kazungu introduced Corley Delaney of the auditing firm, who told the board the firm issued an unmodified opinion after completing required audit procedures.
The audit presentation and related materials also highlighted several year‑over‑year shifts: the district reported an increase in net position for the year of about $1.9 million and an available–net‑position balance of roughly $18.8…
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