Central Virginia
Thomas Jefferson Planning District Commission
Planning District Commission Finance-Executive Committee 11/2/2023
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Planning District Commission Finance-Executive Committee
11/2/2023
Attachments
Finance-Executive Committee Meeting Packet - 2023-11-02.pdf
Ned Gallaway
Chair, Planning District Commission
00:00:12
I will call the Thomas Jefferson Planning District Commission Finance Executive Committee to order for our Thursday, November 2nd, 2023, 6 p.m. meeting.
00:00:23
And Ruth, will you do a roll call for us?
SPEAKER_00
00:00:26
Supervisor Galloway?
Ned Gallaway
Chair, Planning District Commission
00:00:27
Here.
SPEAKER_00
00:00:28
Supervisor O'Brien?
00:00:31
Mr. Smith?
00:00:33
Ms. Wilkinson?
00:00:34
Here.
Ned Gallaway
Chair, Planning District Commission
00:00:36
And we'll know we do not have a quorum yet, but Mr. O'Brien is expected, so we'll know it will be arrived.
00:00:41
But we are here today to go review the financial report and audit.
00:00:46
And we have Mr. Foley from CPA.
00:00:49
He is a CPA from Robinson Fire and Earth Talks.
SPEAKER_03
00:00:57
Well, one year, this guy didn't show up on time.
00:01:03
And I said, we have the date wrong.
00:01:05
There's no way in hell he would not be here on time.
SPEAKER_02
00:01:07
Yeah, I'm one of those.
00:01:10
If I'm not 15 minutes early, I'm late.
00:01:13
And it's like, I was like, stuck in traffic.
00:01:15
I'm usually like that.
SPEAKER_03
00:01:16
I was really concerned.
00:01:17
I was only five minutes early.
Ned Gallaway
Chair, Planning District Commission
00:01:23
So, yeah, we can go ahead and get started.
00:01:25
And we did confirm Mr.
SPEAKER_02
00:01:32
Go ahead.
00:01:34
Thank you all for having me.
00:01:36
So we have completed the audit for the commission's fiscal year ended June 30th, 2023, and have issued our draft report and draft financial statements.
00:01:54
Just brief overview of the audit before we get into the results.
00:02:00
And we came out and did the field work for the commission back that was the first week of October.
00:02:09
And we're on site for about a week, doing our testing.
00:02:15
And then we're able to get through everything pretty quickly and then be able to issue a draft by the end of the month.
00:02:25
There's really, as far as the audit that we do for the commission, there's really three main pieces to the audit.
00:02:31
One, of course, we audit the financial statements to make sure that the commission's financial statements are prepared in accordance with generally accepted accounting principles.
00:02:43
And then the other two pieces of the audit we do in accordance with government auditing standards, which is one is in addition to just looking at the numbers themselves, we look at the
00:02:55
and John controls the commission has over its financial reporting and so we'll test those controls
00:03:05
in order to design and gain an understanding of those controls and then test them in certain cases in order to gain our understanding and designing our audit test.
00:03:20
And then the third piece of the audit is the uniform guidance audit, the federal compliance.
00:03:27
for the major federal programs this year.
00:03:30
This year, the commission had a very big one.
00:03:34
But for the major federal programs, OMB provides a compliance supplement with a list of compliance requirements that the commission has to comply with when it's expanding its federal grant program.
00:03:46
So that's another big piece of the audit.
00:03:49
So included in the
00:03:52
The audited financial statements, there are three different reports from us that communicate the result.
00:03:58
The first one is on page one, page one of the report.
00:04:05
This is our independent auditors report.
00:04:08
And in this report, it's where we state we did perform an audit of the financial statements, also where we issue our opinion on the commission's financial statements.
00:04:18
And we have issued an unmodified opinion
00:04:22
on the commission's financial statements, which is the cleanest opinion an auditor can give on the set of financial statements.
00:04:29
Basically, an unmodified opinion means that the commission's financial statements have been prepared in accordance with generally accepted accounting principles.
00:04:42
And the other two reports from us are way in the back of the report.
00:04:50
number, page number 58.
00:04:52
This is our, on page 58, this is our report on the Commission's internal controls over its financial reporting.
00:05:02
This report was cleaned as well and had no significant deficiencies or material weaknesses.
00:05:08
and the Commission's internal controls over its financial reporting.
00:05:13
Overall, we feel like the Commission has strong internal controls in place.
00:05:18
Just an example of that is the fact that we went through the audit and had no audit adjustments as part of the audit.
00:05:27
So it's pretty common that when we go through an audit, we usually have something that we need to find that we need to adjust.
00:05:36
The fact that we didn't have to make any audit adjustments speaks to the strength of the internal controls the Commission has over its financial reporting.
00:05:45
Typically in places that the controls aren't so tight is where you see things slip through and adjustments that need to be made.
00:05:54
And then the third and final report from us is two pages over on page 60.
00:06:04
This is our report over the organization's compliance with this major federal grant programs in accordance with uniform guidance.
00:06:14
This report was cleaned as well.
00:06:18
And we know the no significant deficiencies or material weaknesses.
00:06:22
and the organization's compliance with its major federal grant programs.
00:06:28
And we also need to know instances of noncompliance as part of the audit.
00:06:36
So all three reports and opinions from us are clean.
00:06:42
And also, again, no other items were noted as far as internal control issues that needed to be reported in a separate management letter.
00:06:50
So those are the three reports from us.
00:06:53
So if we go back kind of towards the front, the next piece of the report starts on page four.
00:07:02
This is management's discussion and analysis.
00:07:06
So this report, this piece of the report is written by management.
00:07:11
It's kind of more of a narrative overview of the fiscal year.
00:07:17
So it
00:07:19
starts off with some financial highlights and talks and there's a lot of summarized financial information included in the tables in this report.
00:07:30
So we'll talk about a lot of highlights about what was new this year, what changed between fiscal years.
00:07:43
There's also just a description of the funds that the organization uses
00:07:50
And then kind of starting on page eight, there's a narrative related to the budget discussion and how the original final budget and how that compared to the actual.
00:08:07
And then starting on page 10 is the actual sort of the financial statements for the commission.
00:08:16
And so these first two exhibits that we have, exhibit one and exhibit two, these financial statements are prepared on the full accrual basis, meaning that you'll see capital assets, any long-term debt, all that fun pension and OPEB stuff are included on the balance sheet, as well as
00:08:41
things like depreciation expense are included in your expenses that are included on exhibit two.
00:08:49
So for exhibit one, this is a statement of net position.
00:08:54
This statement reports the assets and deferred outflows and liabilities, deferred inflows, and then the net position at the end of the fiscal year.
00:09:08
So the commission had
00:09:10
Total current assets at the end of the fiscal year of $5.5 million.
00:09:18
And then total assets of $6.2 million.
00:09:25
And then liabilities, current liabilities $4.6 million.
00:09:32
And we can see
00:09:33
The total assets of 5.5 exceeds, 4 exceeds the current liabilities, which is always a good financial indicator that the commission has sufficient funds to pay its current liabilities.
00:09:49
And then ended the fiscal year with a net position of 1.3 million at the end of the fiscal year.
00:09:59
And then that position is
00:10:01
Further broken down in between what the net investment and capital assets are.
00:10:09
Then one of the there's a restricted the restricted piece is the the net pension asset that the commission has.
00:10:19
And it's for the VRS program.
00:10:22
Most most entities are the other way.
00:10:25
They have a net pension liability.
00:10:29
But the commission has
00:10:31
and has for probably since GASB68 sort of has always had a net pension asset, meaning that the BRS pension plans assets exceed the liability.
00:10:44
That's probably why you rate so low.
Christine Jacobs
Executive Director
00:10:51
If I have a question on something further back, do you want me to wait till the end?
00:10:54
This is more just general knowledge for me.
00:10:55
When you're comparing budget to actuals,
00:10:58
In an audit, it notes how close you were and what the variance is.
00:11:03
Is there a best practice or an acceptable variance or is it just recorded for the purposes of the audit?
00:11:09
So for example, we amend our budget in March for all the financial reporting purposes.
00:11:15
And at that time, we're making our best guess what we're going to expend by June.
00:11:19
And obviously with programs like VATI,
00:11:22
There's wild variances from month to month what actually happens.
00:11:26
So it seems like there's a big gap between the budget and the actual.
00:11:29
But is that is that normal and is that acceptable?
SPEAKER_02
00:11:31
That can certainly that that certainly is normal, particularly when you have something like the body project or like in your localities, your capital projects once, you know, you'll budget, you know, X amount for a particular project and
00:11:48
You know, that you only expend that as a project, you know, incurs the expenditure.
00:11:53
So, I mean, you can definitely have big swings in, you know, between budgeted numbers and actual because they are what you said.
00:12:02
I mean, like you said, their estimate.
00:12:05
So, I mean, certainly, you know, the thing you got to make sure of is that you don't have that situation where you have expenditures in excess of
00:12:15
You know, the thing is with budgeting, you know, you want to be careful that you're not too aggressive in your budgeting figures either, because if you're too aggressive in your the revenue side,
00:12:37
Then, you know, if you have a shortfall there, but then you come close on your expenditure side, that's where you can see financials turn.
00:12:44
We had a locality that got in that situation where they were just way, way overestimating what their budgets and revenues were.
00:12:53
And then of course, you know, you're balancing a balanced budget.
00:12:56
So you're got, you know, and then you miss your revenues and, but you hit your expenditure mark and then you see your balance go down.
00:13:05
So.
SPEAKER_03
00:13:06
Yes, we went through a little phase of that, but we got over it, fortunately.
Ned Gallaway
Chair, Planning District Commission
00:13:15
There was a statement in there about the Blue Ridge cigarette tax board getting moved from the general fund.
00:13:19
Is that because it got set up as a function program?
00:13:22
Initially it was not.
00:13:23
It said changeover from year to year.
SPEAKER_02
00:13:26
Yeah, so last year was the first, the start of it, and so it just was basically included in the general fund.
00:13:38
But then, right.
Christine Jacobs
Executive Director
00:13:40
And then we set up separate bank accounts, we set up separate VIP accounts, all for the cigarette tax board, and they're no longer.
SPEAKER_02
00:13:45
Right, so now it's shown as, maybe it's its own separate column.
Ned Gallaway
Chair, Planning District Commission
00:13:51
Got it.
SPEAKER_02
00:13:53
And it's good for that to show separately anyway, because I mean, it's it's almost its own.
00:13:59
It's got its own EIN and its own tax ID number.
00:14:04
You know, there's some discussion of whether, you know, maybe going forward, if that if that should actually have it be almost lifted out of this report and not be a part of the commission's budget, but a separate budget for the board separately audited from the board.
Christine Jacobs
Executive Director
00:14:23
because we're contracted to be the fiscal agents.
SPEAKER_02
00:14:30
But at the very minimum it needs to be separated out, so that's why we went that direction this year.
00:14:38
Plus, I mean, it's pretty significant as well.
00:14:45
Page 11, Exhibit 2, this is a statement of activities.
00:14:50
Again, this shows, this again is on a full accrual basis, so you got depreciation expense included in the information.
00:14:59
So change, this shows also the change in that position.
00:15:03
So the net position for the commission increased by 169,000, almost 170,000 during the fiscal year.
00:15:14
Moving over to page 12, and that set of exhibits, these are the governmental funds.
00:15:22
So these exhibits are reported on the modified accrual basis.
00:15:26
So you don't have things like capital assets and debt in the financials.
00:15:35
So exhibit three is the balance sheet for the governmental funds.
00:15:40
And so we've got
00:15:42
Different columns for the various funds, the general fund, which is the main operating fund, the Department of Transportation, which accounts for all the transportation grants, the home program, which accounts for the home program.
00:15:57
And then again, two new columns this year.
00:16:01
Again, we broke out the Blue Ridge Cigarette Tax Board as its own fund.
00:16:07
And then you also see the new column this year for the
00:16:10
Broadband.
00:16:12
Last year that was just getting started only had very little activity this year had significant amounts that really needs to be shown separately in its own fun.
00:16:23
and then the other governmental funds, that's just all the rest of the smaller funds that are combined.
00:16:32
So total assets, total assets for the commission at the end of the fiscal year, 5.7 million compared to total liabilities, 4.7 and then the
00:16:47
Fund Balance for the commission at the end of the fiscal year ended with a fund balance of a little over a million dollars.
00:16:54
And then that's further broke down between non-spendable committed and unassigned non-spendables, the prepaid expenses.
00:17:07
And then there's the capital reserve that the commission had set up and then unassigned, which is available for the commission's use.
00:17:19
Exhibit 4 is just a reconciliation exhibit between how we get from the fund balance reported on Exhibit 3 to the net position that you had on Exhibit 1.
00:17:35
Next page, page 14, this is a statement of revenues, expenditures, and changes in fund balance.
00:17:40
So this statement again for those funds shows the revenues during the year, the expenditures, and then change in fund balance.
00:17:49
So in the general fund, share the change in fund balance during the fiscal year of $133,000 almost $134,000.
SPEAKER_05
00:17:59
Quick question on a good three.
00:18:03
Is the unearned revenue just a contract?
SPEAKER_02
00:18:07
Unearned revenue is basically your deferred revenue.
00:18:12
It's a liability.
00:18:13
So basically what that represents is any funds that the Commission's received that hadn't yet
00:18:19
Spann, and then as those funds are spent, then those funds are released as revenue.
Christine Jacobs
Executive Director
00:18:29
A lot of our deferred revenue is actually from our local government per capita because they give it to us quarterly.
00:18:34
So they give it to us in advance and then we spend it down so then we get it.
SPEAKER_02
00:18:43
So yeah, we did five again.
00:18:44
We've got the separate columns for the different funds.
00:18:48
You can see that Broadbane Fund that had a lot of big numbers to it this year.
00:18:52
$13.5 million in activity.
00:18:58
That may be more activity in that one fund than the Commission's had over the last five, six years.
00:19:13
And then the last exhibit up front, exhibit six, again, that's just another reconciliation exhibit from how we get from the change in fund balance on exhibit five to the change in that position on exhibit two.
00:19:31
Starting on page 17 starts the notes of the financial statements.
00:19:35
The notes of the financial statements
00:19:38
discusses the significant accounting policies that the commission uses to prepare its financial statements.
00:19:45
Also provides, can provide more detail in the notes to provide more detail to some of the figures that you see in the financial statements.
00:19:58
So again, note one is just a summary of significant accounting policies that the commission uses to prepare its financial statements.
00:20:07
Note 2, which starts on page 25.
00:20:10
It's just the note related to the deposits and the investments that the commission has, which the commission has as invested in the Virginia investment pool.
00:20:25
Note 3 is a detail behind the accounts receivable and due from other governments.
00:20:32
It shows what's due from the various agencies.
00:20:37
On page 27, note 5 is detailed behind the capital assets, such as the various categories of the capital assets the commission has, as well as the depreciation that's been taken on theirs.
00:20:59
Note 6 is just a disclosure related to the compensated absences.
00:21:04
That's all the crudely that the employees have earned and have not yet used.
00:21:13
Note 7 discusses the office lease.
00:21:17
This is the only long-term, well, outside of the pension and OPEB, the only long-term liability that the commission has.
00:21:25
This was something that was new last year where GASB 87 was implemented so previously it was an operating lease so you always expense that as as you paid it with 87 now says that you have you show a right to use asset and then also the liability.
00:21:52
Starting on page 30 is the
00:21:55
No related to the VRS pension plan.
00:21:58
And this note gives you everything you would like to know about the Virginia retirement system.
00:22:04
And it goes on for several pages.
Christine Jacobs
Executive Director
00:22:08
Fortunately, they write it for us.
00:22:10
I have a question on page 30.
00:22:13
Mid-year, last year, the very first sentence, it says that new employees' re-arrest retirement plan starts after six months of employment.
00:22:21
Mid-year, the commission changed that to start.
00:22:24
I don't know if we need to note that in here or if that's something that goes into next year's because it's a full year, but we did change that.
SPEAKER_02
00:22:34
Yeah, we can make that note.
00:22:53
So note 13 on page 38, this talks about the indirect cost rate for the commission.
00:23:04
And then there's schedules further back that share the details of this calculation, but for the actual indirect cost rate for the commission this year was 56%.
00:23:17
which was pretty lower than what it's been.
SPEAKER_03
00:23:21
Yeah, and a very good explanation in the management report.
SPEAKER_02
00:23:25
And then note 14 is more VRS information related to the group life plan.
00:23:41
So then after the notes, then there's a few more schedules, financial schedules included.
00:23:48
Page 46 is a budget to actual.
00:23:52
So Exhibit 7 shows the Commission's, their original budget, the final budget, the actual and how the actual numbers compared to the budgeted numbers.
00:24:12
The next few exhibits are required information related to the pension plan and OPEB.
00:24:22
So if you didn't get enough pension and OPEB information in the notes, you have about six more tables of information you can look at.
00:24:31
and then some supplemental schedules page 54 schedule 1 this is just a schedule of expenditures for the general fund so it kind of shows in a little more detail what was included in the general fund expenditures then the next two pages
Christine Jacobs
Executive Director
00:25:01
Yes, that is body.
00:25:03
So mid-year, because it's a three-year project and was projected across three years and some of those, you know, construction delays and supply chain things in the beginning that held it up, we had to push those into future fiscal years.
SPEAKER_03
00:25:17
That's the one you say has a separate DIN?
00:25:20
Was that?
SPEAKER_02
00:25:20
No, that's the CVRHP.
Christine Jacobs
Executive Director
00:25:24
But all of that at some point will show up in 24 and 25, Tony.
00:25:29
So it's just moving in.
SPEAKER_02
00:25:36
All right, so the next two schedules on page 55 and 56, this goes into the indirect cost rate.
00:25:42
So schedule two, page 55, this is a numerator.
00:25:47
So this shows the schedule of all the indirect costs that the commission had for the year.
00:25:54
And then on page 56, schedule three, this is a denominator.
00:26:00
This is all the program personnel cost.
00:26:06
And then at the bottom of schedule three shows the calculation and how you get to the 56% indirect cost rate.
SPEAKER_03
00:26:15
You know, this page is another thing that came up at an audit kickoff meeting.
00:26:23
So we asked for this at an audit kickoff meeting to be included because we had had a big blow up about the budgeted amount for the next year.
00:26:32
And so it's been in there ever since.
00:26:35
The audit kickoff meeting also, you know, we came up with the reserve fund formula as an audit kickoff meeting and how to present it.
00:26:47
And now you're saying the Blue Ridge Cigarette Tax Board might be another thing that I'm just talking about audit kickoff meetings give you a chance to get in depth on questions that you might have, Christine, or that, you know, it gives you a chance to
00:27:04
Do something in fact we did do in the middle of the year or not the middle but towards the end of 2018 we started doing the reserve because we had talked to David at the audit kickoff meeting and it wasn't too late to you know start doing it that year so I'm just saying they have a I'm not saying we should always have them
00:27:27
but I'm just saying they do have a function that's been pretty useful for us and we could, I think we didn't think about it and decided we didn't need it but you know you wouldn't want to probably do anything like change the Blue Ridge Cigarette Tax Board to a separate report
00:27:45
In the middle of the year, you'd probably want to wait until the end of the year to do it.
00:27:49
But I'm just saying the audit kickoff meeting would be a good time to decide you're going to do it.
00:27:54
That is what I'm saying.
Christine Jacobs
Executive Director
00:27:55
When, what time of year did those occur?
SPEAKER_02
00:27:57
The thing with the, we would usually have in the summer to be July, July or August.
SPEAKER_03
00:28:06
Right.
00:28:07
And we usually had this committee.
00:28:09
Yeah.
00:28:09
And we, and we did have it every single year for quite a while.
00:28:13
maybe yeah we got out of the habit and then just never got back to it at all so it's it's kind of got a value anyway.
Christine Jacobs
Executive Director
00:28:31
So that would obviously be for next year.
00:28:32
It's too late for one for this year.
00:28:34
Yeah.
00:28:34
Is that when we would consider whether or not we're going to pull BRCTB out as a separate?
SPEAKER_03
00:28:40
It gives you a great chance to address it thoroughly.
00:28:44
Yeah.
00:28:44
That's what I can tell you.
00:28:46
And so then you have plenty of time to decide you're going to do it and work your system up so it's ready to do it.
00:28:55
That's what I'm telling you.
00:28:57
Yeah.
00:28:57
And as far as the
00:28:59
The other thing, we could do it in a minute, which was start the reserve.
00:29:02
And we did do it in a minute.
00:29:04
But this was simply asking the schedule to be added to the audit report.
00:29:09
It never happened.
00:29:10
This was one that was internal, but we wanted them to just kind of glance at it for us.
00:29:15
And that was Jenny Keller who wanted it, you know, in the audit report.
SPEAKER_01
00:29:23
And with the Cigarette Tax Board, we have to look at our agreement.
00:29:26
with them as well because I know there's language in there right now that says they recommend a budget to the commission.
00:29:31
That's right.
00:29:32
And it's the way it was set up.
00:29:33
So it would have to be some changes perhaps to that agreement.
Christine Jacobs
Executive Director
00:29:37
If that.
00:29:38
It could be that it stays the way it is.
SPEAKER_03
00:29:43
It gives you several months to figure out whether you're interested in even doing it.
Christine Jacobs
Executive Director
00:29:47
The other thing related to that that I just noticed, and I don't know, I did not catch this the first two passes at this, but the contract date, the start date and end date, none of those are accurate.
00:29:56
Those are actually hidden columns on our internal spreadsheet.
00:30:00
So should I go in and update all of those to accurate and send them to you?
SPEAKER_03
00:30:06
Because those are not.
00:30:07
Those are not accurate.
00:30:08
Well, thank you for noticing that.
Christine Jacobs
Executive Director
00:30:22
Yeah, we don't even we just weren't updating that spreadsheet, we've got it in other places.
SPEAKER_02
00:30:46
So then the next section is the compliance section, which includes the two reports we discussed previously.
00:30:54
And then on page 63 is the scheduled expenditures of federal awards.
00:31:02
This schedule shows all the different federal programs that the commission expended money on during the fiscal year.
00:31:14
and then page 65, the last page, this is a schedule of findings and question calls.
00:31:21
This is just basically summarizes the results of the audit.
00:31:26
Again, the commission got an unmodified opinion on the financial statements, no internal control or federal award findings.
00:31:37
This shows the major federal program that was audited, which was the body program.
00:31:43
and then again that there were no financial statement findings or federal award findings or questions.
SPEAKER_05
00:31:55
Questions or comments?
SPEAKER_02
00:32:15
Yeah, that's a new language.
00:32:19
So, I mean, when we're doing the audit, we don't actually, I mean, we look into the controls as part of the audit, but you're actually not issuing, you're not actually doing a full, like,
00:32:33
We, as part of the audit, you gain an understanding of what the internal controls are and you test them.
00:32:42
So, you know, we do that as a part of being able to design our tests.
00:32:47
So while we review the internal controls and look at them in a lot of cases, test them and see that they're, you know, operating as they should.
00:32:56
And then that way, if they are, then that can reduce our substantive testing.
00:33:00
You're not actually going through a full audit of the internal controls.
Christine Jacobs
Executive Director
00:33:07
Has that been done here that you can recall?
00:33:11
that someone has looked at the internal controls and actually expressed them.
SPEAKER_02
00:33:15
You'd have to do like a, that would have to be a special engagement to have like an audit of the internal controls.
00:33:24
Again, as part of the audit, we're looking at them, you know, we're testing them, but we do it to the extent to where we use that to gain or to be able to design our test.
00:33:45
There's a lot of reports where we have to issue significant deficiencies and material weaknesses.
00:34:01
You know, it's because there's big internal control issues.
00:34:04
So that would, if you saw that, you would then trigger a full audit, like what you're describing.
SPEAKER_05
00:34:09
Well, there'd be findings.
SPEAKER_02
00:34:10
Well, there'd be findings.
00:34:12
And then, yeah, if you knew, if you wanted to do, you know, even more in-depth.
00:34:17
Right.
00:34:17
Is where you would do the control type of audit that you're talking about.
SPEAKER_03
00:34:20
We did do a notebook one year, some time ago, of our internal control system, which is still probably kicking around somewhere, huh?
00:34:29
Yes.
00:34:31
Yes.
00:34:31
One doesn't know.
00:34:34
So I think there's a spiral binder out there in the world that has a pretty good description of our internal.
00:34:40
Do you remember that at all?
00:34:42
David, do you remember that at all?
00:34:44
The what?
00:34:44
A spiral binder that we did of the internal control system.
SPEAKER_02
00:34:47
Yeah.
00:34:49
Yeah.
00:34:50
And we look at, I mean, we look at processes and all that.
00:34:52
So I mean, we're looking at it as part of the audit, but technically we're not.
00:34:58
You're not actually auditing the internal control.
00:35:00
We're just evaluating it to be able to design our tests so that we can issue following.
00:35:06
So.
Ned Gallaway
Chair, Planning District Commission
00:35:06
Right.
SPEAKER_02
00:35:06
And so and that we can issue, you know, gain understand what they control the internal control environment is so that we can issue our opinion on the financial statements.
SPEAKER_03
00:35:18
Now, you know, there's a binder.
00:35:19
We just have to go find it.
Christine Jacobs
Executive Director
00:35:21
Shelves of binders.
00:35:23
I'll find it anyway.
SPEAKER_03
00:35:28
All right, looks good.
00:35:30
Any other questions or comments?
00:35:32
Well, I was just saying back to the audit committee meetings, I think you can ask David questions at the audit kickoff.
00:35:41
So if you want to ask him questions, and I think remember asking him questions about this binder, but also if you want to ask questions about the Blue Ridge Cigarette Tax Board, how to go about it if you decide to do it.
00:35:55
It's a good time to find out a lot of stuff.
00:35:58
And that way, when you move forward, you're doing it, you know, in a good way.
00:36:03
So it's pretty handy, I think.
SPEAKER_02
00:36:06
Yeah.
00:36:07
Now, not to say, I mean,
00:36:10
You know, certainly if you have questions throughout the year and all that, you can always reach out to us.
00:36:14
That doesn't mean.
00:36:15
Yeah.
00:36:16
Which means, I mean, that that doesn't mean that if we have all the kickoff meetings and you stop emailing.
00:36:21
Yeah.
00:36:23
I mean, it's a we I mean, and some of this stuff, I mean, you will discuss whether you have an audit kickoff meeting or not.
00:36:29
The audit kickoff meeting is just a chance for us all to get together and and talk about the upcoming year.
00:36:35
If there's anything you guys have concerns about that you want to
00:36:39
O'Brien.
00:36:39
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SPEAKER_03
00:37:09
The Executive and Finance Committee.
00:37:11
So that gives you a chance to, you may have already talked about it, but it gives you an early chance to get to weigh in.
Ned Gallaway
Chair, Planning District Commission
00:37:19
Great.
SPEAKER_03
00:37:23
All right.
00:37:23
Any other comments or questions?
Ned Gallaway
Chair, Planning District Commission
00:37:27
All right.
00:37:28
Well, then we need to take action.
00:37:33
So we need a motion.
00:37:35
The Executive Finance Committee to recommend approval of the fiscal year 23 financial report and audit to the full commission.
SPEAKER_03
00:37:44
I recommend that with the edits to be made by Christina, that we recommend approval of the audit report to the full commission.
00:37:58
Second.
Ned Gallaway
Chair, Planning District Commission
00:37:59
All right.
00:38:00
We have a first and a second.
00:38:02
Any further discussion?
00:38:05
All in favor say aye.
00:38:07
Aye.
00:38:08
Opposed?
00:38:10
And we're good.
SPEAKER_03
00:38:11
3-0.
00:38:13
For approval.
00:38:14
We don't have to see what the edits are, do we?
00:38:17
No.
Christine Jacobs
Executive Director
00:38:18
I have an ongoing little tally of little ones that we'll make before the final.
SPEAKER_02
00:38:23
Yeah, so if you just send that to me, I'll make sure we're there.
Christine Jacobs
Executive Director
00:38:27
Yeah, I'm gonna wait to update the dates of all the contracts.
00:38:30
I'll send it to you all in one communication.
00:38:40
Thank you all for being here.
00:38:41
I'm about to pull out dinner into the Water Street Center.
00:38:45
So we got you dinner as well if you would like some before the step up.
00:38:49
You'll go to Water Street.