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Monte Rio board adopts FY 2023–24 financial audit (Resolution 478)
Summary
The board unanimously adopted Resolution 478 approving the FY 2023–24 audit; staff noted a significant finding that over $250,000 was held in a single operating account and will explore moving funds to the Sonoma County Investment Pool.
The Monte Rio Recreation and Park District board voted unanimously April 14 to adopt Resolution 478, which approves the FY 2023–24 financial audit. Director Allison Baumhefner moved for adoption and Director David Gatlin seconded; the roll-call vote recorded ayes from Chair Steve Baxman, Jean Sasso, Allison Baumhefner, David Gatlin and Brooke Maury.
Administrator Marina McTaggart told the board the audit went well but flagged a significant finding: the district is retaining more than $250,000 in its Westamerica bank operating account, which Marina noted is at the FDIC-insured limit. She said she is researching transferring funds to the Sonoma County Investment Pool where the district already has an established account.
