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Finance manager: preliminary FY2023-24 results show strong reserves; audit work to follow
Summary
Finance Manager John O'Brien told the Lake Arrowhead CSD board that preliminary FY2023-24 results show strong revenues and cash balances and that auditors will review year-end statements with reporting expected in October or November.
Finance Manager John O'Brien presented preliminary Fiscal Year 2023-24 results and told the board that "the numbers are preliminary," with formal audit reporting planned for the October or November meeting.
O'Brien said the District's position allows it to cover operating costs and debt service, maintain infrastructure reserves and respond to unforeseen events such as PFAS treatment needs or emergencies. He highlighted continued strength in property tax receipts and investment income. Public comment on the report was received during the meeting. The consent calendar containing the annual expense report was approved earlier in the meeting.
