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Treasurer outlines finances; board approves auditor recommendation
Summary
The treasurer presented the June financial report, fund balances and key dates for annual statements and audits; the board voted to approve financial items including recommending Hester & Campbell as district auditor after two bids were received.
The district treasurer delivered a detailed finance briefing, explained fund structures and answered board questions before the board approved financial items included on the consent agenda.
Key points the treasurer made: the district maintains multiple funds (general, special revenue, capital projects, bond construction and debt service) with different restrictions; June shows high outflows (regular end-of-year pay cycles), and the bond-construction fund has a balance reduced from earlier draws with approximately $619,000 remaining after encumbrances noted for ongoing projects. The treasurer said the last bond payment is expected around 2034 and explained that the debt-service fund balance (about $4.5 million at the end of June) is restricted to bond payments.
The treasurer also described a plan for annual financial statements (expected in September), possible audit fieldwork in October-November, and the need to rebid auditor services every three years. The procurement process solicited nine audit firms and received two proposals; a selection committee recommended engaging Hester & Campbell for the next three years. The board approved the financial items and the auditor recommendation as part of routine business.
No specific audit start date was set; the treasurer said staff will coordinate scheduling and report it to the board when known.
