Committee seeks answers for large December revenue variance at Parrot Island
Summary
Auditors flagged a large unexplained reconciling variance in December in Parrot Island's revenue numbers; the committee insisted ARM supply reconciliations and supporting documentation at the Sept. 10 meeting.
Committee members told auditors they were concerned by a very large December reconciling variance that auditors could not substantiate from the records provided. During discussion members referenced figures spoken in the meeting (examples cited conversationally ranged from about $127,000 to $175,000) and asked ARM to explain the discrepancy when representatives attend the Sept. 10 meeting.
Forvis Mazars told the committee it could not obtain reconciling items or sufficient explanation for the December variance. An auditor cautioned the committee that some timing differences between accrual and cash accounting can produce year‑end adjustments, but he acknowledged the firm did not receive the detailed reconciliations needed to close the question. The committee directed staff to require a month‑by‑month reconciliation and to ask ARM to provide the specific transaction support for December before the report is finalized.
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