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OHA CFO: fiscal 2024 audited financial statements and single‑audit schedule due; board may need special meeting for adoption
Summary
Chief Financial Officer Ramona Henke told trustees the fiscal 2024 financial statements and single audit must be filed by March 31, 2025; administration aims to post materials the week of March 14 and asked trustees to consider adoption on March 20 or at a special March 27 meeting.
Office of Hawaiian Affairs Chief Financial Officer Ramona Henke briefed the Board of Trustees on the status of the agency’s fiscal 2024 audited financial statements and the single audit of federal grants during the March 6, 2025 meeting. The audits must be filed with the Federal Clearinghouse by March 31, 2025, and administration asked trustees to be prepared to adopt the audit reports in late March.
Henke described the audit objectives, timeline and the compressed schedule the auditors are working under. Administration said it expects to submit the full action item and audit materials to trustees the week of March 14 so the Board can consider the audit in the Committee on Budget & Finance on March 19 and at the board meeting on March 20. If trustees need more review time, administration asked that the Board consider a special meeting the week of March 27 for final adoption; counsel and staff noted the filing deadline with the federal clearinghouse is March 31.
Henke said the audit process was accelerated in order to meet federal filing deadlines; trustees asked for additional time to review the materials if needed. Administration indicated there are no other annual audits of the same type that will likewise be due this month.
Next steps Administration will circulate the complete audit reports and action item the week of March 14. Trustees will be asked to review the materials in advance of the March 19 committee meeting and the March 20 board meeting; should questions remain, the board could meet on March 27 to adopt the audits prior to the federal filing deadline on March 31.
