TO: Napa Berryessa Resort Improvement District Board
FROM: Tracy Schulze - Auditor-Controller
REPORT BY: Georgina Panganiban -Accountant-Auditor Manager
SUBJECT: Authorization to prepare necessary entries to close the financial books for the fiscal year ended June 30, 2024.
RECOMMENDATION
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Authorize preparation of the necessary accounting entries to close the financial books for the fiscal year ended June 30, 2024. (Fiscal Impact: $259,930 Expense; Napa Berryessa Resort Improvement District Fund; Not Budgeted; Discretionary)
[4/5 vote required]
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BACKGROUND
The Auditor-Controller anticipates completing all the necessary accounting entries to close the financial books for the fiscal year ended June 30, 2024 by Monday, September 30, 2024. Completing this process requires approval by the Napa Berryessa Resort Improvement District Board of the below entries and requires a 4/5 vote.
The requested actions for approval include:
1. Approve Budget Adjustment 24-1433, increasing appropriations by $259,930 in Fiscal Year 2024-25 for continued projects from Fiscal Year 2023-24. On June 25, 2024, your Board approved estimated amounts of remaining budget and related contracts to be carry forward into the following year. This item is to ratify final amounts resulting from completing all accounting entries through June 30, 2024. See Attachment A.
2. Maintain restriction of $34,556 for FEMA/CalOES. Funds are restricted until projects are fully audited and can be released.
3. Establish restriction of $74,959 due to the remaining excess insurance proceeds from the 2020 LNU Fire Complex, transferred from the General Fund Declared Emergency subdivision. Funds are being transferred after a successful completion of the post emergency audit. Funds are to remain restricted until a new construction project is established.
There are five capital improvement projects to be completed in Fiscal Year 2024-25:
Project 21071
The USDA Reserve Wastewater Treatment Pla...
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