Audit shows R/TSSD in good shape
The Carbon County Recreation and Transportation Special Service District received their yearly audit report (from 2013) on Aug. 4, and while there were some minor problems with some things in the audit, overall the firm of Smuin, Rich and Marsing found the entity to have pretty much done things correctly.
The firm reported that the CCRTSSD has total assets of $23,271,009. Total current cash included in that amount is $11,892,512. The rest of the amount includes such things as land, easements, water stock, works of art, buildings, improvements, equipment and some construction that is in progress as of the end of 2013.
Doug Rasmussen of the accounting firm gave the report to the board, and pointed out that as the district has tried to distance itself from the county (which it has been trying to do for some time) some discrepancies on money owed, money coming in from such agencies as the Community Impact Board and other items has been revealed. Rasmussen said that those could be corrected by the District writing checks to Carbon County to clear the matters up.
He reported that in 2013 the District's net position decreased $2,762,045 as compared to a decrease of $1,990,783 in the previous year (2012). Total expenses also increased during 2013 with $9,137,858 going out as compared to 2012's $8,644,080.
The incoming mineral lease money that came into the district in 2013 (its main source of funding) actually increased over 2012. The District brought in $5,636,675 as compared to 2012 when $5,572,133 came into the District's coffers.
The debt service fund decreased $573,291 and because of no further debt to finance, it was closed.
Every audit contains a management letter, a document that spells out things that need to be improved. In this case the auditing firm gave the district a four page letter. In it it spelled out six things the CCRTSSD should do.
â¢The district should be sure it completes and files a state required semi-annual deposit and investment report.
â¢The district needs to stay within fund balance limitations. Special districts are permitted to accumulate earnings or fund balances, as appropriate, in any fund. With the general fund the districts balance is restricted to 100 percent of that current year's property taxe or 25 percent of the total general funds revenues if that fund is greater than $100,000 or 50 percent of the total general funds revenue, if that fund is equal to or less than $100,000. The districts funds at the time of audit exceeded the amount allowed by law.
â¢The district needs to adopt a policy for dealing with the Government Records Access Management Act (GRAMA). Currently they are using the counties policy but the auditors felt that the district needs to develop them own including a fee schedule for providing information when it is requested.
â¢As of Dec. 31, 2013 the district had not posted financial information (revenue and expense) on the Utah transparency website. This, along with employee compensation should be reported quarterly.
â¢Auditors pointed out that the districts board needs to be trained on the Open and Public Meetings Act. They have not had this training.
â¢Utah code does not allow entities to incur expenditures or encumberances in excess of the total appropriation for any fund or department. In 2013 the district had expenditures that were in excess of the the general fund.
The district formally responded to all the issues with an affirmative action plan to correct those problems found by the auditors.