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Treasure Island committee accepts clean FY2024 audit and reviews six‑month accounting report
Summary
The committee accepted an unmodified (clean) audit for fiscal year 2024 with no findings and reviewed a six‑month internal accounting report showing assets and liabilities near $1.3 million and expenditures under budget largely due to slower ferry and toll program activity.
The Treasure Island Mobility Management Agency Committee accepted the fiscal year 2024 audit on Feb. 18 after staff reported the auditors issued an unmodified (clean) opinion with no findings or adjustments.
"The auditors have issued an unmodified opinion, which is a clean opinion. They had no adjustments to our statements. And they had no findings," Deputy Director for Finance and Administration Cynthia Fong told the committee. Fong said the agency ended the year under budget by about $2,166,000.
The committee then received an informational internal accounting report for the six months ending Dec. 31, 2024. Fong presented a snapshot showing assets of approximately $1,300,000, liabilities of about $1,300,000, revenues near $368,000 and expenditures near $170,000, and noted expenditures were under budget by roughly $1,900,000 because the ferry terminal enhancement and toll affordability program have proceeded more slowly than anticipated.
Vice Chair Rafael Mandelmann moved to accept the audit report and the committee adopted the item. No remote or in‑chamber public comment was recorded for either item. Fong said staff will assess program pacing and proposed budget amendments and return recommendations to the committee.
