During a recent government meeting, board members engaged in a detailed discussion regarding the status of the Annual Comprehensive Financial Report (ACFR) and the implications of delays in the auditing process. The urgency of completing the external audit by September 30 was emphasized, as failure to meet this deadline could jeopardize grant funding and public transparency regarding financial management.

Concerns were raised about the timeline for the audit, with board members expressing frustration over the lack of updates from the external auditor. The current status indicates that the necessary documentation has not yet been submitted to the auditor, which could lead to significant consequences, including a potential stop payment on various grants.

The board was informed that while some grants, such as LIHEAP and Head Start, have received stop payment waivers, many others are at risk of facing administrative penalties if the audit is not completed on time. The discussion highlighted the importance of maintaining liquidity for the Regional Planning Commission (RPC) and ensuring that they have sufficient funds to manage ongoing projects despite the audit delays.

In response to inquiries about the auditor's claims of a grace period, it was clarified that while some grants may have received waivers, this does not eliminate the potential for consequences, including the loss of administrative fees. The board is actively seeking solutions to navigate these challenges and ensure that financial operations continue smoothly.

Overall, the meeting underscored the critical nature of timely financial reporting and the need for effective communication between board members and auditors to prevent disruptions in funding and service delivery.