CCRPC committee approves FY23 financial statements; auditors expect single audit by end of January

The Chittenden County Regional Planning Commission’s Joint Finance & Executive Committee unanimously approved the financial‑statement portion of the FY23 audit at its Dec. 6, 2023 meeting.

Forest Cohen, CCRPC’s senior business manager, introduced auditors Kyle Connors and Andrew Kupa of Marcum LLP, who reported a single substantive edit—an update to the pension liability—and said the auditors “are moving forward through the quality assurance process now and [expect] to issue the financial statements in time for the December 31, 2023 deadline,” with the single audit targeted for completion by the end of January 2024, according to Connors.

Committee members pressed auditors on timing. Connors said Marcum’s first year working with CCRPC delayed the schedule but that staff and auditors plan earlier completion in future years. Jeff Carr asked whether the audit’s discussion of inflation and housing costs on page 12 related to recruitment and potential higher staffing costs; Forest Cohen confirmed it did.

Carr also raised a procedural concern with the implementation of GASB No. 87, which treats future rent and lease payments as a liability. “I wanted to reiterate my continued irritation with the implementation of GASB No. 87,” he said, asking that concerns be communicated when there is an opportunity.

The committee accepted the auditors’ timeline and approved the financial‑statement portion of the FY23 audit by a unanimous vote. The financial portion of the meeting closed at 5:57 PM; Carr then excused himself.

Votes at a glance: The committee approved the November 1 meeting minutes (with two textual edits) and approved the financial‑statement portion of the FY23 audit; both motions carried unanimously. The meeting adjourned at 6:47 PM.