Woodmen Hills Metropolitan District undergoes yearly audits that require a CPA firm to go through its finances very thoroughly. I spoke with a couple of accountants involved in this year’s audit, one of whom was the lead accountant. Although he will give the official report at next month’s board meeting, he told me that we were GAAP (Generally Accepted Accounting Principles) compliant and will be receiving a clean bill of accounting health; he also said that our finances are in tip-top shape and that the 2016 bond refinancing was allocated to our financials appropriately.
One could say that audits are the District’s yearly checks-and-balances and paint a picture of the District’s financial stability. For the last 5 years the district has received an excellent opinion. It’s always a very intense process for the District staff.
I would like to congratulate Lisa and her staff on a job well done.