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Board ratifies audited FY2023 report and flags several budget variances in unaudited Sept. 30, 2024 statements
Summary
The board ratified Resolution 2024-05A accepting the audited financial report for the fiscal year ended Sept. 30, 2023. Mrs. Adams presented unaudited statements for Sept. 30, 2024 and identified line-item anomalies including General Fund 'Engineering' at 209% and 'Contingencies' at 421% of budget; she will request paid invoices and correct errors in the next financials.
Mrs. Cleo Adams presented Resolution 2024-05A to accept the audited financial report for the fiscal year ended Sept. 30, 2023; the board ratified the resolution on a unanimous motion. Mrs. Adams then presented the unaudited financial statements as of Sept. 30, 2024 and walked the board through specific concerns.
She highlighted several anomalies in the General Fund: ‘Engineering’ is at 209% of budget (suspected miscoding of expenditures that belong in Special Revenue Fund); ‘Contingencies’ shows 421% of budget because $4,209 should have been posted under 'Other contractual' as a landscaping expense; an item labeled 'NPDES reporting filing' at $19,805 equates to 152% of budget; and 'Debt service (prin & int) 2022 note' shows $74,480 (205% of budget). Mrs. Adams said she would request copies of paid invoices from Corporate to identify and correct the errors for the next financial statements.
