COG accepts audited TDA financial statements; auditor flags documentation detail in management letter

Brian Nash presented the Council of Governments’ and the transit agency’s audited financial statements and related management letter. He reported an "unmodified or clean opinion," noted roughly $247,000 in long‑term liabilities, an unassigned fund balance of $512,000 and about $7.5 million of restricted fund balance across other funds. Nash called out one management‑letter item: some resolutions approving allocations under the Transportation Development Act lacked the statutory code-section citation, and he recommended ensuring the citation appears in each approving resolution.

On the transit agency, Nash reported restricted cash and capital‑grant activity tied to a transit‑facility project and bus procurements; he said restricted funds available for the transit facility totalled about $5.2 million across listed funds. Nash also noted the transit agency’s fare‑recovery ratio (including federal grants under Assembly Bill 139) is 51 percent; without the federal grants it would be about 11.6 percent but still above a 10 percent required rural threshold.

Staff asked the council to accept the two audited financial statements and to authorize submission to the State Controller's Office. The board voted to accept the statements (voice vote recorded as 7–0).

Ending: The council accepted the audits and authorized staff to file them with the State Controller; staff said they will follow the auditor’s recommendation to include TDA code citations consistently in future resolutions.