title
Annual Comprehensive Financial Report
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ACTION
recommendation
Accept submission of the 2022-2023 Annual Comprehensive Financial Report (ACFR).
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PURPOSE
The ACFR is submitted to the Board of Directors annually for review and approval in support of both fiscal responsibility and transparency efforts.
RECOMMENDATION
The Executive Director and NTMWD staff recommend acceptance of the 2022-2023 ACFR.
Strategic Objective: 2.3 Rigorous Financial Management
Committee: This item was on the February 7, 2024, Finance Committee meeting agenda
DRIVER(S) FOR THIS PROJECT
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☐ Regulatory Compliance |
☐ Asset Condition |
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☐ Capacity |
☐ Redundancy/Resiliency |
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☐ Relocation or External Requests |
☐ Operational Efficiency |
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☐ Safety |
☒ Administrative |
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☐ Policy |
☐ Other _____________ |
BACKGROUND
• At the February 7, 2024, Finance Committee the external audit team from Crowe LLP provided the Finance Committee with a review of the annual audit’s deliverables, comments on the District’s internal controls, and required audit communications.
• Crowe LLP provided an unmodified, or clean, audit opinion. There were no material weaknesses or significant deficiencies reported.
• The Finance Committee voted to recommend that the Board of Directors accept the 2022-2023 ACFR.
• A copy of the 2022-2023 ACFR will be provided prior to the Board meeting.
• The ACFR will be submitted to the Government Finance Officers Association for review and consideration for a Certificate of Achievement for Excellence in Financial Reporting.
• The District has received this certificate each year since 1990.