Tobacco Securitization Corporation adopts 2025–26 budget and receives audited FY24–25 report

Acting as directors of the Sacramento County Tobacco Securitization Corporation, the supervisors approved the minutes of an Oct. 8, 2024 meeting, adopted the recommended fiscal year 2025–26 budget and received and filed the fiscal year 2024–25 audited financial report.

Colin Bettis, the county debt officer, presented the items and said there were no significant changes from the prior year’s budget request, though audit services costs have increased as anticipated. He also noted an increase for prior‑year treasury costs that were invoiced late and will be paid in the current fiscal year. The auditors’ opinion, as described in the staff materials, stated the audited financial information was presented fairly in all material respects.

There were no requests to speak, and the directors approved the staff recommendations unanimously with the members present.