The Rutland Regional Planning Commission (RRPC) Executive Finance Committee voted Nov. 10 to forward a draft FY25 financial audit to the full board for final acceptance after reviewing a document that included only routine auditor adjusting entries.

Mary Kay (MK), who presented the financials and the draft audit, told the committee the auditors issued a clean opinion and found no reportable findings or recommendations. “In our opinion, the financial statements referred to above present fairly in all material respects,” MK read from the audit opinion.

MK also reviewed September financials, saying the month’s net income was about $180,000, primarily because the commission recorded a second-quarter ACCD invoice of roughly $170,000. She said the Vermont Department of Environmental Conservation was expected to generate additional revenue of more than $200,000 in the near term and that accounts receivable were roughly $514,000 on Sept. 30 and about $298,000 as of Nov. 9, 2025.

The draft FY25 statements showed a year-end net loss of $40,686.74, MK said, driven mainly by noncash entries: roughly $35,051.12 tied to the Rutland Creek Path and $5,635.62 attributed to RRPC. Other noncash impacts included depreciation ($6,286) and lease interest ($3,132). MK said that excluding noncash items the net loss would be about $12,850 and that the organization’s total equity was roughly $483,000 (about $392,000 excluding the Rutland Creek Path funds).

Committee members asked for clarification on a few schedule items, especially pension-related figures in the BMERS schedules (pages 24–25 of the draft). MK said those two pages were the only areas where small adjustments might be needed and that the committee should vote to recommend the audit to the full board even if minor schedule changes are later made.

Committee member Larry moved and Bob seconded a motion to recommend the draft audit to the full board for acceptance, with potential changes limited to the noted schedules. The committee approved the motion by voice.

The committee also discussed recent one-time expense drivers in the operating budget, including higher service-contract costs tied to outsourced IT setup for a new leased laptop fleet and an Adobe subscription renewal of more than $3,000. MK said the organization had entered a multi-year Dell lease for laptops to smooth equipment budgeting and that future leases would include device setup by Dell.

The RRPC will present the audit and a clean copy of the report to the full board at the upcoming board meeting; MK said she expected a final clean copy to be circulated with the board packet within days.