North Kings GSA receives clean audit for fiscal year 2023-2024 highlighting good financial standing
The North Kings GSA received a clean audit opinion on its financial statement for the 2023-2024 fiscal year, covering the period from July 2023 to June 2024. The audit, conducted by C.J. Brown & Company CPAs, confirms that the North Kings GSA’s financial statements are accurate and free from any deficiencies.
The North Kings GSA’s financial statement reflects a $173,000 decrease in net position, primarily due to ongoing operations and the Board’s decision to use previously unbalanced reserves to cover last year’s expenses. Additionally, the statement shows a $26,000 increase in expenses related to consulting, engineering, and ongoing Kings Subbasin coordination fees, reflecting the additional efforts to meet the latest 2025 GSP update milestone.
The Board of Directors unanimously approved the FY 2023-2024 audited financial statement at the September 19th meeting, where they also approved the final financial statements.
