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Health Service Board accepts clean audit, hears FY2025 fund projections
Summary
The San Francisco Health Service Board unanimously accepted an unmodified audit of the employee benefit trust fund and heard staff warn the benefit trust is projected to decline about $19 million in FY2025 amid higher medical claims and settlement costs.
The San Francisco Health Service Board unanimously accepted an unmodified audit of the Other Employee Benefit Trust Fund and reviewed financial projections showing pressure on reserves.
MGO partner Craig Harner told the board the audit of the fund for the year ended June 30, 2024, received an unmodified (clean) opinion issued Oct. 21 and found no material internal control deficiencies or reportable noncompliance. "We issued an unmodified opinion on the financial statements," Harner said, summarizing…
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