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Chino Valley accepts clean audit and approves groundwater extinguishment credit purchase
Summary
Council accepted the annual comprehensive financial report with a clean opinion from auditors and approved purchase of 242.88 acre-feet of groundwater extinguishment credits for $58,291.20 to support assured water supply objectives.
Chino Valley's council accepted the town's annual comprehensive financial report for the fiscal year ending June 30, 2024, and approved a groundwater extinguishment credit purchase to help meet future assured-water-supply needs.
Baker Tilly representatives told the council they issued a clean (unmodified) audit opinion and reported no instances of noncompliance or material weaknesses. The auditor summarized high-level movements: the general fund showed a fund-balance decrease of…
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