Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Board ratifies FY2023 audit, flags accounting variances in current financials
Summary
The board ratified the audited financial report for the fiscal year ended Sept. 30, 2023 and reviewed unaudited statements as of Sept. 30, 2024. Staff flagged apparent misallocations and higher-than-budget line items (engineering at 209% and contingencies at 421% due to a landscaping charge), and will request paid invoices to reconcile.
Mrs. Cleo Adams presented Resolution 2024-05A, ratifying acceptance of the audited financial report for the fiscal year ended Sept. 30, 2023; the board ratified the audit on a unanimous vote.
Mrs. Adams then reviewed unaudited financial statements as of Sept. 30, 2024 and noted several potential ledger or coding errors: General Fund "Engineering" was at 209% of budget, General Fund "Contingencies" appeared at 421% because a $4,209 landscaping charge had been coded incorrectly, and the General Fund "NPDES reporting filing" reflected $19,805 (about 152% of budget). The board asked Corporate for copies of all paid invoices so Mrs. Adams can reconcile the charges; Mr. Adams said the debt-service principal and interest entries would be corrected in the next financials after investigation.
District Engineer Charlie Krebs reported incorrect signage text with Lykins-SignTek (where a sign should read "Southern Hills Drive" but reads "Southern Hills Court") and staff noted that 50 or more lake and wetland signs are rusted and will be inspected and replaced as needed.
On a motion by Mr. Blumenthal, seconded by Mr. Schultz, the board approved the prior meeting minutes as amended and ratified the audited financials.
