Title
Approval of Audit and Related Draft Financial Reports Pertaining to the Fiscal Year Ended June 30, 2023
Body
Agenda of: December 13, 2023
Item No.: 2023-472
Amount: Not Applicable
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Suzanne R. Coffey, P.E.
Chief Executive Officer
Great Lakes Water Authority
DATE: December 13, 2023
RE: Approval of Audit and Related Draft Financial Reports Pertaining to the Fiscal Year Ended June 30, 2023
MOTION
Upon recommendation of Nicolette N. Bateson, Chief Financial Officer/Treasurer, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA), moves to receive and file the Reports pertaining to the Fiscal Year Ended June 30, 2023 Financial Audit (the FY 2023 Annual Comprehensive Financial Report, FY 2023 Single Audit Act Compliance Report, and FY 2023 Independent Auditor's Communication with those Charged with Governance) and authorizes staff to proceed with the completion and filing of the annual audit reports prior to the due date with the state of Michigan; and authorizes the CEO to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
Annually, the Great Lakes Water Authority (GLWA) prepares an Annual Comprehensive Financial Report (ACFR) and Schedule of Expenditures of Federal Awards (SEFA) in accordance with financial accounting standards and federal guidelines. Baker Tilly US LLP (Baker Tilly) has been engaged to perform the GLWA annual financial audit and issue an opinion as to whether the financial statements are fairly stated in accordance with accounting standards for fiscal years ending 2022, 2023 and 2024.
With GLWA's reports nearly complete, the next step is review by the GLWA Board of Directors and requested approval to proceed with filing the report with the Michigan Department of Treasury. It should also be noted that staff will file those reports and related information with other...
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