Page 12 - Beaumont Basin Watermaster

BEAUMONT BASIN WATERMASTER
MEMORANDUM NO. 17-02

Date: February 1, 2017

From: Joseph Zoba, Treasurer

Subject: Independent Accountant’s Financial Report of Agreed-Upon
Procedures for the Beaumont Basin Watermaster

Recommendation: That the Watermaster Committee receives and files the
Independent Accountant’s Financial Report for the period ending
June 30, 2016.

The Beaumont Basin Watermaster engaged the firm of Rogers, Anderson, Malody &
Scott to perform an independent financial review of the Watermaster activities for the
fiscal year ending June 30, 2016. The independent financial review was conducted under
the same terms and scope as the prior fiscal year.

At the beginning of the 2015-2016 fiscal year, the Beaumont Basin Watermaster had
unrestricted net assets in the amount of $61,310. During the fiscal year, the Watermaster
collected $217,692 in revenues and expended $100,908. As of June 30, 2016, the
Watermaster had unrestricted net assets in the amount of $178,094.

The following illustration provides a summary of the annual revenues and expenses of
the Beaumont Basin Watermaster since its formation in 2004.

$400,000

$350,000
Annual Revenue
$300,000
Annual Expense
$250,000

$200,000

$150,000
$100,000

$50,000

$0
FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016