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February 16, 2023 Page 2 1111liq 11 1101 1111 o Eel 0 ml,&�11111111 11 •11 il •I I � A 11 : I �•I i I It was moved by Lange, seconded by Cusworth, and carried 4-0 to approve the Cons- •' . presented. I =1 Z1 4 793 TN A." a I :I 8. ITEMS FOR DISCUSSION 9. NEWITE MS A. Annual Audit Report Smith shared financial highlights from the annual audit report. She shared a handout that delineated the District's net position of $174.7 million. Smith then introduced Veronica Hernandez, the District's main auditor from Rogers, Anderson, Malody & Scott, LLP. Hernandez gave a brief presentation, outlining some details of the audit process, including the District's responsibility, the Auditor's responsibility, and the audit process. She shared the auditor's opinion along with some other key points. The auditors have issued an unqualified, or "clean," opinion, which means they can state, without reservation, that the financial statements are fairly presented in conformity with generally accepted accounting principles. It was moved by Nickles, seconded by Cusworth, and carried 4-0 to accept the audi for fiscal year (FY) ending June 30, 2022, as prepared by the accounting firm o Rogers, Anderson, Malody & Scott, LLP. I B. Annual Review and Adoption of Financial Reserves Policy Smith stated that the information presented this evening was recently reviewed at a meeting of the Finance and Audit Committee (Huffer and Buss). Financial Reserves are basically the District savings, which help to provide adequate funding to meet the District's short-term and long-term goals. Smith reviewed the Reserve Fund Balances spreadsheet provided in the packet. The balances available as of June 30, 2022, currently match those found in the financial statements just accepted in the previous Board item; primarily, the only change to the policy is updating the reserve balances as supported by the annual audit. It was moved by Cusworth, seconded by Lange, and carried 4-0 to adopt the District's amended Financial Reserves Policy. C. Contract and Amendments to Contracts for Tree Services at Various Park Facilitie Not to Exceed $175,000 1 Mooney provided some background on the District's use of tree services; historically they have been outsourced. In February 2021, the Board awarded two separate contracts, with West Coast Arborists and Treescapes, each not to exceed $175,000 annually, and in