Title
Gainesville Regional Utilities Audited Financial Statements for the Year Ended September 30, 2021 Finance Committee Update (NB)
Explanation
The following item is presented for discussion:
Audited Financial Statements for the Year Ended September 30, 2021.
Gainesville Regional Utilities is primarily complete with the fiscal year 2021 audit and ready to publish our Audited Financial Statements for the Year Ended September 30, 2021.
However, GRU is pending the receipt of Pension and Other Post-employment Benefits information from General Government.
General Government and the outside consultant retained to assist General Government are working diligently to provide this financial information to GRU yet as of this agenda item date the time frame for delivering this information has not been determined.
This serves as notification to the Finance Committee that if GRU does not receive this information timely, GRU will not be able to issue its audited financial statements in compliance with its bond covenants which require the statements to be issued 180 days after year end.
Fiscal Note
None.
Recommendation:
The Finance Committee review and forward this notification to the City Commission regarding Gainesville Regional Utilities Audited Financial Statements for the Year Ended September 30, 2021.