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Board reviews unaudited financials; staff to correct misclassifications
Summary
District staff flagged budget variances in the unaudited financial statements as of Sept. 30, 2024: General Fund 'Engineering' at 209% of budget, 'Contingencies' at 421% due to misposted landscaping costs, and a $19,805 NPDES reporting filing amount under review; staff will request invoices and correct the ledger.
Mrs. Adams reviewed the unaudited financial statements as of Sept. 30, 2024 and identified apparent misallocations and variances. She noted General Fund "Engineering" showing 209% of budget, suggesting expenses that may belong to a Special Revenue Fund; "Contingencies" showed 421% because $4,209 was recorded that should be charged to "Other contractual" as landscaping. A $19,805 entry for "NPDES reporting filing" was called out and will be investigated.
Mr. Blumenthal and Mr. Adams agreed to request copies of paid invoices from Corporate so staff can reconcile accounts. Mrs. Adams said the error related to the 2022 note principal and interest was addressed and will be corrected in the next financials. The Board asked Mr. Willis to inspect rusted lake and wetland signs and follow up on replacements.
