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<br />February 16, 2023 <br />Page 2 <br /> <br /> <br /> C. Board of Directors’ Norms, Guidelines, and Processes <br /> <br /> D. Administrator Vacation Maximum Accrual Cap <br /> <br />It was moved by Lange, seconded by Cusworth, and carried 4-0 to approve the Consent <br />Calendar as presented. <br /> <br />7. DEFFERED MATTERS <br /> <br />8. ITEMS FOR DISCUSSION <br /> <br />9. NEW ITEMS <br /> <br />A. Annual Audit Report <br /> Smith shared financial highlights from the annual audit report. She shared a handout that <br />delineated the District’s net position of $174.7 million. Smith then introduced Veronica <br />Hernandez, the District’s main auditor from Rogers, Anderson, Malody & Scott, LLP. <br />Hernandez gave a brief presentation, outlining some details of the audit process, including <br />the District’s responsibility, the Auditor’s responsibility, and the audit process. She shared <br />the auditor’s opinion along with some other key points. The auditors have issued an <br />unqualified, or “clean,” opinion, which means they can state, without reservation, that the <br />financial statements are fairly presented in conformity with generally accepted accounting <br />principles. <br />It was moved by Nickles, seconded by Cusworth, and carried 4-0 to accept the audit <br />for fiscal year (FY) ending June 30, 2022, as prepared by the accounting firm of <br />Rogers, Anderson, Malody & Scott, LLP. <br /> <br />B. Annual Review and Adoption of Financial Reserves Policy <br /> Smith stated that the information presented this evening was recently reviewed at a meeting <br />of the Finance and Audit Committee (Huffer and Buss). Financial Reserves are basically <br />the District savings, which help to provide adequate funding to meet the District’s short-term <br />and long-term goals. Smith reviewed the Reserve Fund Balances spreadsheet provided in <br />the packet. The balances available as of June 30, 2022, currently match those found in the <br />financial statements just accepted in the previous Board item; primarily, the only change to <br />the policy is updating the reserve balances as supported by the annual audit. <br /> It was moved by Cusworth, seconded by Lange, and carried 4-0 to adopt the District’s <br />amended Financial Reserves Policy. <br />C. Contract and Amendments to Contracts for Tree Services at Various Park Facilities <br />Not to Exceed $175,000 <br /> Mooney provided some background on the District’s use of tree services; historically they <br />have been outsourced. In February 2021, the Board awarded two separate contracts, with <br />West Coast Arborists and Treescapes, each not to exceed $175,000 annually, and in