Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
CCRPC committee recommends approval of clean FY2023 audit, flags $36,000+ FY24 deficit and payroll‑tax readiness
Summary
At its March 6 meeting the Chittenden County Regional Planning Commission Joint Executive & Finance Committee recommended board approval of the FY2023 Single Audit, which received an unmodified opinion, reviewed FY24 second‑quarter finances (noting a $36,000+ deficit to be covered by dues), and discussed readiness for Vermont’s new July 1 payroll Childcare Contribution tax.
The Chittenden County Regional Planning Commission’s Joint Executive & Finance Committee on March 6 reviewed the FY2023 Single Audit and recommended board approval after hearing from the external auditor.
Forest Cohen, the CCRPC senior business manager, introduced Kyle Connors of Marcum LLP, who summarized the completed Single Audit. Connors said the audit “was clean with an Unmodified Opinion.” Committee members and staff thanked the auditors and the CCRPC business office for their work. Following the presentation, Jeff Carr moved and Bard Hill seconded a motion to recommend board approval of the FY2023 Single Audit; the motion carried unanimously.
The committee then heard the FY24 second‑quarter financial review for the period July–December 2023. Forest Cohen said the organization is generally on track but noted a deficit of more than $36,000 that would be covered by the allocation of dues. Members reviewed balance sheet figures as of Dec. 31, 2023: operating cash $534,193; reserve money‑market $411,962; current assets over liabilities $1,030,644; and deferred income for community match $226,924.
Jeff Carr raised a readiness question about the State of Vermont’s new payroll tax, the Childcare Contribution (CCC), effective July 1, 2024, asking whether CCRPC systems and payroll processes are prepared for implementation. Forest Cohen acknowledged the concern; staff and members agreed to follow up as part of ongoing administrative preparations.
The committee approved quarterly journal entries for October through December 2023 (motion by Jeff Carr, seconded by Catherine McMains), and the motions in the financial section were recorded as carried unanimously.
What happens next: The committee’s recommendation on the FY2023 Single Audit will be forwarded to the full CCRPC board for formal acceptance at an upcoming meeting. Staff will continue preparations for CCC payroll‑tax implementation and will report back with any required administrative changes.
