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Truckee Donner Public 2021 Audit Results Utility District
JULIE DESIMONE Audit Manager JARED BROWNSON And PartnerEngagement Reviewer KEITH SIMOVIC and PartnerConcurring Reviewer
Nature of Services Provided 3 with GovernanceCommunication to Those Charged 3 with GovernanceCommunication to Those Charged 2 GAAP and GFOA award for and ACFR for compliance with review
of the financial statements Assistance with, and technical 1 Public Utility Districtfinancial statements of Truckee Donner Independent Auditors' Report on the
Substantive Procedures 4 Audit Process Revenue control testing-Includes IT-all cyclesWalkthroughs surrounding -Examine objective evidence-attorneys and managementRepresentations from
-documentationVouch to supporting -Confirm account balances-Analytical ProceduresInternal Controls expectationsTrends, comparisons, and -Revenue and expenses-
5 weaknessesNo material GovernanceCharged with Communication (clean) opinionUnmodified StatementsFinancial Audit Opinion/Reports
Required Communication 6 next slide–Audit observations and recommendations •No difficulties in performing the audit•No disagreements with management•Management’s consultation with other
accountants•next slide–Audit adjustments made and passed •Management judgments & accounting estimates•accounting standards adoptedNo impacts from new –Significant accounting policies
•Auditor’s responsibility under auditing standards•
Material Audit Adjustments 7$90,828paid in January 2022To accrue for payroll taxes incurred as of December 31, 2021, but AmountsAdjustmentsPassed Audit Adjustments None noted Amount
Internal Control Recommendations 8 Best PracticeDocumented, periodic review of SOC 1 reportsBest PracticeDocumented, periodic review of user accessBest Practiceto existing vendorsReview
of changes CategoryControl RecommendationsInternal
New Standards New Accounting Pronouncements–Audit Issues 9 Period beginning after 6/15/21Effective DateLeases–GASB 87
Thanks to District staff for the excellent facilitation of the 10 Acknowledgements audit requests and discussion pointscandor, and openness in response to management was one of helpfulness,
‘Tone at the Top’ and attitude from •mannerin a timely fulfilled all of our requestswere courteous, responsive and All personnel across all departments •audit process:
11 Julie Desimone5025-(971) 313mossadams.comJared.brownson@2101-(503) 478mossadams.comJulie.desimone@+Jared Brownson++Keith Simovic2284-(503) 478mossadams.comKeith.simovic@ Contact Us