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LBWID reviews FY2024 finances, approves account policy and notes tree and cybersecurity programs
Summary
Trustees heard that FY2024 operations finished about 99% on target, approved an account management and investment policy and set up a separate checking account; staff reported a 25-tree replacement program and completion of recommended cybersecurity upgrades.
At the July 31 meeting, trustees were told the FY2024 July–June income and expense statement shows overall operations ran at about 99% of the projected budget. Staff said they are assembling materials for the FY2024 audit and will deliver documents to the auditor by mid-September; audits are generally returned in January or February.
The trustees reviewed, discussed and approved the LBWID Account Management and Investment Policy. The district established a separate checking account for the Executive Director/Operations Director the same day and removed the Executive Director from signing authority on the larger account.
Staff also reviewed the Lake Barcroft Tree Replacement Program: 25 native overstory trees are available, the application deadline was July 31, 29 applications had been submitted by the deadline, trees are expected to be delivered in mid-September, and the contractor will plant them over the following two weeks at an expected program cost of $6,000.
Finally, staff reported Applied Controls Engineering (ACE) and CyberClan completed implementation of cybersecurity upgrades recommended in a Symposit LLC audit conducted earlier in the year; the district said these upgrades strengthen defenses against cyber intrusion and increase redundancy in LBWID’s IT network.
The meeting minutes do not include roll-call vote counts for the account policy approval, which the record lists as reviewed, discussed and approved.
