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Treasurer warns LCUAS has roughly two months of operating funds; audit access in progress
Summary
The board heard a financial report showing January–February expenses of about $35,000 and a bank balance of $7,869; staff said they will submit a request for payment from the city and an auditor has access to QuickBooks but had not provided a status update.
The board received a treasury report raising short-term funding concerns for LCUAS.
The treasurer reported combined January–February expenses of about $35,000 and a current bank balance of $7,869, noting that the organization has roughly two months of operating funds at the current burn rate. Board members asked about pending reimbursements and city funding; staff said they are preparing a request for payment/reimbursement to submit to the city and will meet early next week to assemble invoices.
Staff also explained a jump in QuickBooks subscription costs (from about $40 to $215 monthly) tied to payroll-processing or contract-labor changes. The board discussed a separate $42,000 award for ADA-compliant raised beds that LCUAS received; members also referenced a separate $25,000 coalition grant that will not be received because the coalition no longer exists.
On the audit, board members reported that the auditor (identified by first name as Patrick) had been granted access to QuickBooks and supporting documents, but had not yet provided an update; staff will follow up to secure an audit status report.
Board members requested a budget-versus-actual report at the next meeting to clarify run rates and reserves. The treasurer and staff said they will present a budget-to-actual comparison at the next meeting.
