Sutter Butte Flood Control Agency approves consent calendar; audit shows clean opinion for fiscal year ending June 30, 2024

The Sutter Butte Flood Control Agency Board of Directors met March 12, 2025, and approved the consent calendar by unanimous voice vote. Board members recorded as present at roll call included Jeff Stevens, Mike Ziegenmeier, Bruce Johnson, Bill Conley, Todd Kimmelshu, Beau Shepherd, Mark Boomgarden, Dave Shaw, Charlie Hopin, Gary Marler, Jeremy Chaplin, Mike Morris and Chris Schmidl.

The board received the agency's audited financial statements for the fiscal year ending June 30, 2024. Sean, finance staff, told the board the auditor Badawi and Associates issued a clean opinion: "clean audit, meaning financial statements are fairly presented and comply with generally accepted accounting principles." Sean said the audit covers three reports: basic financial statements, auditors' communication with the governing body, and auditors' communication noting no material weaknesses.

The audit summary identified several year-over-year changes. The agency completed roughly $3,600,000 in capital work in fiscal 2023'24 (net of debt service). Management's discussion and analysis in the annual report showed expenditures decreased by 15.5% and revenues decreased by 47.1% compared with the prior year. Sean said the agency recorded a $1,500,000 decrease in net position because of retirement of capitalized assets, and noted that ongoing assessment revenue should offset similar retirements over time.

Staff also filed the monthly financial report covering activity through Jan. 31, 2025. The report showed working capital through Jan. 31 of about $22.5 million and an estimated working capital to date of $28,228,300. Capital revenue received through Jan. 31 was about $1.9 million, with an estimated-to-date capital revenue figure of about $9.6 million, leaving roughly $8.5 million in anticipated reimbursements and pending receipts. Paid expenditures through Jan. 31 were about $2.5 million, with estimated-to-date paid expenditures of about $3.3 million and approximately $754,000 in pending expenditures.

The report noted a debt service payment was made in April and the next scheduled debt service payment is Oct. 1, 2025. Staff said continuing disclosure reports are submitted to investors through the Municipal Securities Rulemaking Board (MSRB) and that assessment-roll coordination with Wilden is underway.

No members of the public spoke during public comment. The board adjourned to its next regular meeting scheduled for April 9, 2025.