On Feb. 18, 2025, the Treasure Island Mobility Management Agency Committee voted to accept the agency’s fiscal year 2024 audit, which auditors issued with an unmodified opinion and no findings.

Cynthia Fong, deputy director for finance and administration, told the committee the FY2024 audit was conducted by I. Bailey (as stated in the record) and that auditors issued an unmodified opinion with no adjustments or findings. Fong asked the committee to accept the audit; the committee adopted the recommendation by roll call (Matt Dorsey, yes; Rafael Mandelmann, yes).

Fong also presented a consolidated internal accounting report for the six months ending Dec. 31, 2024. As reported by staff, the agency held assets of $1,300,000 and liabilities of $1,300,000; revenues were $368,000 and expenditures $170,000. Staff said expenditures were under budget by $1,900,000, a variance the presentation attributed to slower activity on the ferry terminal enhancement project and the toll affordability program. Fong said staff will review these program timelines during the current budget amendment season and bring recommendations to the agency for any adjustments.

There was no remote or in-person public comment on these items and no substantive questions from committee members during the presentations. The committee did not take further action on the internal accounting report because it was an information item.

Votes at a glance: Motion to accept the fiscal year 2024 audit — moved by Vice Chair Rafael Mandelmann; vote: Matt Dorsey, yes; Rafael Mandelmann, yes. Outcome: adopted.