Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City says delayed audits will be submitted this week; explains how electric utility sale funds are allocated
Summary
City staff told council the overdue fiscal-year audits (FY22–23 was submitted May 7; FY23–24 was delayed) are expected to be filed by mid-November after a JLAC deadline; staff reviewed the fund balance policy that earmarked electric utility sale proceeds for pension, OPEB, capital reserves and other accounts.
City staff updated the Vero Beach City Council on the status of the city’s audited financial statements and explained how proceeds from the 2018 sale of the city electric utility were reserved under the city’s fund balance policy.
Audit status Staff reported the fiscal year 2022–23 audit was completed and submitted May 7. The fiscal year 2023–24 audit missed the June 30 due date but staff said a letter from the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
