· Context
TIRZ #1 and LGC boards accept their FY2023 annual financial reports
On April 11, 2024 the TIRZ #1 board accepted its annual financial report for the year ended September 30, 2023 "pending the correction to the receivable section"; the minutes do not describe the correction. On April 17, 2024 the LGC board accepted its FY2023 report, which staff summarized as total liabilities of $2.3 million at September 30, 2023, down from $2.5 million a year earlier.[1][2]
What the sources say
- ⚠ Sources differ
LGC board minutes give different summaries of the LGC's total liabilities around September 30, 2023; the minutes do not break liabilities down by loan.
Reported value 1[3]
- Total liabilities
- $2,515,404
- As of
- 2022-12-31
Quarterly financials presented March 29, 2023 (quarter ended December 31, 2022).
Reported value 2[4]
- Total liabilities
- $2,400,000
- Total assets
- $47,800,000
- Net position
- $47,800,000
- As of
- 2023-09-30
- Basis
- unaudited
Unaudited financials presented October 18, 2023, as recorded in the minutes.
Reported value 3[5]
- Total liabilities
- $2,300,000
- Total assets
- $47,700,000
- Net position
- $45,400,000
- As of
- 2023-09-30
- Basis
- unaudited
Unaudited financial statements presented January 17, 2024.
Reported value 4[2]
- Total liabilities
- $2,300,000
- Total assets
- $52,400,000
- Net position
- $45,100,000
- As of
- 2023-09-30
- Basis
- audited
Annual report accepted April 17, 2024 (unmodified opinion); prior-year liabilities $2.5 million.
- ✓ Verified
On April 11, 2024 the TIRZ #1 board voted 6-0, on a motion by John Coffee seconded by Tom Warren II, to accept its annual financial report for the year ended September 30, 2023 'pending the correction to the receivable section.' The minutes do not say what the correction was or whether it concerned the loan to the LGC.[1]