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Groundwater Authority receives and files 2023 independent audit showing clean opinion
Summary
The Authority received an independent auditors’ report for fiscal year ended 12/31/2023; the auditors issued a clean (unqualified) opinion and staff highlighted that a 1.2 million receivable from a Mohawi settlement contributed to a year-end surplus.
The Indian Wells Valley Groundwater Authority received and filed the independent auditors’ report for the fiscal year ended Dec. 31, 2023. Staff told the board the audit carries an unqualified (clean) opinion.
Roberto Moreno (RGS), on the phone, summarized highlights and told the board the auditors issued a clean opinion and the numbers are reliable. Staff pointed the board to a section breaking out extraction and replenishment figures; extraction ended the year with a net position surplus of about $194,009.91 and replenishment showed a positive position of about $8.1 million. The change in net position for extraction reflected a reported operating surplus of roughly $949,000 for the year.
Staff explained much of the operating improvement stems from a legal settlement with Mohawi covering 2021–2024. The auditors recognized three years of that settlement (2021–2023) as receivable revenue — approximately $1.2 million recognized in the 2023 numbers — which staff said contributed materially to the reported increase in net position. Staff noted the receivable is on the books but the money had not yet been received as of the meeting.
Board members asked about timing of future audits; staff said the 2024 audit is underway and expected before the end of the year. Director St. Amond suggested forming a financial committee to review audit materials prior to full-board distribution; staff said they will bring the proposed budget for the next fiscal year (2026) to the October meeting per requirements.
No formal vote was recorded on the audit item; staff said this was an informational receipt and that the final legal representation letter had just been received and incorporated into the packet.
