Michael, NVCOG's finance lead, presented the financial report for the period ending Oct. 31 and said the board's adopted budget and the operating budget were in the meeting packet. He reported that, at roughly one-third of the fiscal year, budget-to-actual was about 32% and the organization showed a current surplus of $220,000, which he said was primarily due to frontline fees.

"Our budget to actual is 32% with a current surplus of 220,000," Michael said, describing revenue mixes and the composition of operating expenses.

The audit committee reported it met with auditors Kinkin & Associates and expects a final audit report this month or possibly in January; staff flagged recent federal guidance changes to single-audit methodology that will affect testing and presentation in government-wide statements. The audit committee will issue an RFQ for audit services ahead of the current agreement's conclusion and must make an appointment to OPF by May 1.

On facilities, staff said NVCOG plans to relocate in March to 1 Exchange Place (listed in conversation as 20 West Main), with the City of Waterbury serving as the landlord. Board materials include a one-time draw on fund balance to cover move-related capital expenditures; staff discussed awaiting final vendor quotes (IT, security, wiring) and said the move remains on schedule.

Staff also briefly updated members on outstanding grant obligations discussed in the packet (a Kinneytown dam removal contract tied to the federal commerce agency) and on planning for potential legislative priorities in the coming short session.

The board voted to accept the financial report by voice vote.