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County auditors find one billing timing issue tied to CRA-funded parking project
Summary
Auditors reported the authority complied with audit standards for the year ending 09/30/2024 but flagged one finding tied to CRA funds used on a Highway 17 parking-lot project; staff said they will ensure construction bills are submitted within the post‑fiscal reporting window going forward.
The development authority presented its annual financial audit and staff said the auditors found the authority "complied in all material respects" with relevant standards for the year ending Sept. 30, 2024, but identified a single finding related to the timing of billing for a CRA-funded parking-lot project on Highway 17.
Presenter who summarized the audit told commissioners the construction work on the parking lot was completed in one fiscal year and billed in the next, which created the audit finding (referenced by staff as packet page 53). The presentation said the audit was performed under attestation standards established by the American Institute of Certified Public Accountants and noted the audit firm (Molin and Jenkins) had issued an opinion of compliance in material respects.
Staff said they have already discussed next steps with the authority’s controller and will tighten billing practices so construction invoices are submitted within the 60-day window after fiscal year-end; "we have 60 days after the fiscal year ends, but we're going to make sure by the end of September that we have all of those construction bills paid," the presenter said. Commissioners did not oppose the corrective steps and moved on to the housing presentation that followed.
