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Interim audit clean; district secures TANZ loan at 4.19% interest
Summary
Finance staff reported a clean interim audit and said the district secured a TANZ loan with a 4.19% interest rate that will be deposited to the district account; payment is due in December.
At the July 15 meeting, finance staff (Tony) reported the district completed an interim audit with no findings to date and gave trustees a brief timeline for upcoming audits. He told the board the district had secured a TANZ loan that will be deposited into the district account; "we were successful in securing the the 4.19, percent interest on that," and the payment is due in December.
Tony also noted the district uses modified-accrual accounting for property and timber tax timing and that a single audit is likely later in the year. Trustees had no substantive questions beyond acknowledging the clean interim audit and the loan timing and terms.
The finance report closed with the expectation that the single audit results will be available in January or February following the single-audit process this fall.
