The board of the Zone 7 Water Agency, a wholesale water provider for parts of the Tri-Valley, will meet at 7 p.m. tonight to hear a report of the district's audited finances over the past year.
An independent accounting firm, Maze & Associates, completed an audit report of Zone 7's finances for the last fiscal year, which started July 1, 2014, and ended June 30.
Annual audits are regular occurrences that are completed after a financial year to ensure an agency's financials are accurate based upon its actual resources from that time period.
The firm is expected to present that the accounting done in the past year conforms with accepted industry practices, that the submitted financial statements presented accurately shows the agency's financial situation and that Zone 7's "internal controls and communications are adequate," according to a Zone 7 board summary.
A report of significant findings by Maze & Associates noted the firm did not find any expenses for which there was "a lack of authoritative guidance or consensus."
A draft summary provided to the board by general manager Jill Duerig details the agency's declining revenue due to water conservation in light of the years-long drought. It also highlighted expenses incurred and expected due to preventative flood work done in advance of the predicted El Nino.
The board will also decide whether to award a $596,250 contract for centrifuge equipment rental services at the agency's Patterson Pass Water Treatment Plant to Karl Needham Enterprises Inc.