Incline Village audit panel backs audit contract, 4-0

Meeting: Thursday, June 26, 2025, 2 PM. Published Oct 4. Updated 9:33 PM, Oct 4. Final, checked against the approved minutes.

What happened

The Audit Committee recommended that the Board of Trustees accept Clifton Larson Allen LLP's engagement letter and approve its FY 2024/2025 audit contract, 4-0.^1-3 The committee saw the final 2024 audit sent to the state.^4-6 A late change to central service costs was not large enough to matter.^4-6

What it means for you

The firm would bill by the hour, with no fixed cap.⁷

Who it affects

The committee backed Clifton Larson Allen LLP's letter to do the audit.¹

Also at the meeting

The committee was glad to work with the audit firm.^8-9

Incline Village

Numbered sources are in "How we know" at the end of the page.

How we know

We write each summary from the agenda, the video and the minutes, in that order, and check it against the minutes when they post. Every sentence carries a numbered source.

All 13 sources, with their last readings

Weather, air quality and NWS alerts, read about every minute, limit 30 min, last reading Oct 16, 5:40 PM
IVGID and Washoe County meetings, read every 6 hours, last reading Oct 16, 1:40 PM
1. Minutes line 262: MOTION: That the Audit Committee Provide a Recommendation to the Board of Trustees to Accept a Letter of Engagement from Clifton Larson Allen LLP, and Approve a Contract Agreement with the Auditing Firm for FY 2024/2025., last reading Oct 4, 3:44 PM
2. Minutes vote line 267: 4-0, last reading Oct 4, 3:44 PM
3. Minutes line 269: NAYS: None, last reading Oct 4, 3:44 PM
4. Minutes line 132: Receive and Discuss the Districts' Final Financial Statements, Auditor's Opinion on Internal Controls, and Management Letter, as submitted to the State, closing out the 2024 Audit., last reading Oct 4, 3:44 PM
5. Minutes line 151: GM Harrison introduced the Review of the 2024 audit closeout items, including financial statements, auditor's opinions, internal controls, and the management letter as submitted to the state., last reading Oct 4, 3:44 PM
6. Minutes line 159: Trustee Homan provided a brief review of the materials, noting that the only substantive correction to the previously distributed financial statements was a late entry adjusting charges for central service cost allocations, which impacted both the general fund and the enterprise funds, but was not considered material., last reading Oct 4, 3:44 PM
7. Minutes line 251: The fee structure is hourly with an estimated range but not a fixed or not-to-exceed fee, largely due to previous issues with audit preparedness., last reading Oct 4, 3:44 PM
8. Minutes line 257: Committee members expressed their enthusiasm about working with Clifton Larson Allen., last reading Oct 4, 3:44 PM
9. Minutes line 202: Review, Discuss, and Provide a Recommendation to the Board of Trustees to Accept a Letter of Engagement from Clifton Larson Allen LLP, and Approve a Contract Agreement with the Auditing Firm for FY 2024/2025., last reading Oct 4, 3:44 PM
IVGID Audit Committee: 2025-0626 AC Meeting Minutes (Approved 10.28.2025): minutes, last reading Oct 4, 9:30 PM
IVGID Audit Committee meeting page, last reading Oct 16, 1:40 PM

Incline Village audit panel backs audit contract, 4-0

What happened

What it means for you

Who it affects

Also at the meeting

The board

Votes we summarized since Jan 14

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Incline Village audit panel backs audit contract, 4-0

What happened

What it means for you

Who it affects

Also at the meeting

The board

Votes we summarized since Jan 14

More meetings

Next meeting

Explainers

IVGID explained: passes, picture pass, rec center

Living in Incline Village

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