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Board accepts audited financials and reviews unaudited statements showing multiple budget variances
Summary
The Board ratified acceptance of the audited financial report for the fiscal year ended Sept. 30, 2023, and reviewed unaudited statements as of Sept. 30, 2024, during which staff flagged budget variances (Engineering at 209% of budget, Contingencies at 421%, NPDES reporting $19,805) and signage errors and rusted conservation signs requiring inspection.
Mrs. Adams presented Resolution 2024-05A and the Board ratified acceptance of the audited financial report for the fiscal year ended Sept. 30, 2023. The Board then reviewed unaudited financial statements as of Sept. 30, 2024, and Mrs. Adams identified a number of items she believes were misclassified or require correction: General Fund 'Engineering' at 209% of budget (possible inclusion of special revenue fund expenditures), 'Contingencies' at 421% because $4,209 likely belongs under Landscaping, and a General Fund 'NPDES reporting filing' item of $19,805 (152% of budget). Mrs. Adams said she will request Corporate provide copies of paid invoices for review and correction.
Mr. Blumenthal raised questions about debt service and a Series 2022A note item of $8,672 that Mr. Adams believes may represent preliminary expenses not repaid. Mr. Krebs asked that signage errors (a sign that should read 'Southern Hills Drive' but instead read 'Southern Hills Court') be corrected and was asked to inspect about 50 or more rusted lake and wetland signs and coordinate replacements with Premier Lakes. The Board directed staff to investigate ledger classifications, request supporting invoices, and correct signage errors.
