Pedernales Electric Cooperative – Board of Directors Meetings

File #: 2024-102    Version: 1 Name:
Type: Action Item/Other Items Status: Passed
File created: 3/7/2024 In control: Board of Directors
On agenda: 4/19/2024 Final action: 4/19/2024
Title: Resolution - Acceptance of 2023 Financial Audit and Management Letter by Bolinger, Segars, Gilbert & Moss (BSGM) and Financial Statements - Audit Committee Chair
Attachments: 1. Signature Report - 2024-127 AC Recommendation

Title

Resolution - Acceptance of 2023 Financial Audit and Management Letter by Bolinger, Segars, Gilbert & Moss (BSGM) and Financial Statements - Audit Committee Chair

 

Other Info

Submitted By: Kat Jones on behalf of Audit Committee

Department: Finance

Financial Impact and Cost/Benefit Considerations: Expenditure of Cooperative funds is not anticipated to be impacted; expenditure of staff time is not anticipated to be impacted. The cost for the Audit conducted by the auditors was included within the Cooperative’s operating budget.

 

Discussion

The annual financial audit has been completed by Bolinger, Segars, Gilbert & Moss, L.L.P (BSGM). The Board may consider the draft audit report. The Audit Committee of the Board of Directors met on April 2, 2024 to review the Independent Auditor's Report and Financial Statements for the fiscal year ending December 31, 2023. The Audit Committee approved a recommendation that the full Board of Directors receive and accept the Independent Auditor's Report and Financial Statements for the fiscal year ending December 31, 2023.

 

Body

BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Board of Directors hereby receives, accepts and approves the draft Independent Auditor's Report and Financial Statements for the fiscal year ending December 31, 2023, as the Independent Auditor's Report and Financial Statements (“Financial Statements”); and

 

BE IT FURTHER RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Chief Financial Officer, or designee, is authorized to publish the Financial Statements as the official Financial Statements of the Cooperative for fiscal year ending December 31, 2023.