Page 21 - Beaumont Basin Watermaster - 2015 Annual Report
P. 21
Section 2
Watermaster Activities
2.6.2 Financial Audit
The Beaumont Basin Watermaster has a financial audit performed on annually on a fiscal year
basis. The audit assists in properly accounting for the revenues and expenses of the
Watermaster and tracking the financial resources of the agency. The detailed audit report for FY
2015, prepared by Rogers, Anderson, Malody, and Scott, LLP, was presented at the October 7,
2015 Watermaster meeting. A copy of the audit is included under Appendix B.
Their independent auditors’ report of the Watermaster’s financial statements is that they fairly
present the organization’s financial position in all material aspects and its operations were
conducted in conformity with generally accepted accounting principles.
At the beginning of the 2014-2015 fiscal year, the Beaumont Basin Watermaster had
unrestricted net assets in the amount of $22,057.00. During the fiscal year, the Watermaster
collected $227,378.00 in revenues and expended $188,125.00. As of June 30, 2015, the
Watermaster had unrestricted net assets in the amount of $61,310.00.
No recommendations were provided as part of this Independent Accountant’s Report; the
results of this report disclosed no instances of non-compliance or other matters that are required
to be reported under Government Auditing Standards.
Beaumont Basin Watermaster 2015 Annual Report – Final – December 2016 2-9
