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Board accepts audit-driven budget adjustments and instructs finance to correct a reconciliation discrepancy
Summary
After a finance presentation, the board approved payroll and audit-related budget adjustments and heard about a minor bank-reconciliation variance (about $0.19) that finance pledged to fix; a new business manager was announced to start transition work in April.
Board members reviewed the checks and purchase orders for the month, heard an explanation of audit variances and approved budget-adjustment requests to align the accounts with the finalized audit. Finance staff identified a small bank-reconciliation variance (about 19¢) between the bank statement and internal records; the finance manager acknowledged the issue and committed to correct entries and report back.
Trustees also discussed accounting transitions and the impact of multiple business-manager changes over recent months; staff announced a new business manager (Vicky Chavez) will begin transition work and be on site April 7. The board discussed how some earmarked activity funds (including wind-farm grant monies) were not coded correctly during transitions, which led to temporary misallocation and nine months of inaccurate cash balances.
Why it matters: correcting audit variances and stabilizing business-office staffing is necessary for accurate financial reporting and for ensuring activity funds are used as intended. The board approved the necessary budget adjustments, and finance committed to correcting the reconciliation and returning with results.
Next steps: finance will correct the small reconciliation variance, finalize the transition plan with the incoming business manager, and present follow-up reports to trustees.
