* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.
          BAYTOWN AREA WATER AUTHORITY 
          [00:00:01]
SPECIAL MEETING WEDNESDAY, FEBRUARY 7TH, 2024. 
          HERE AT FOUR 30 COUNCIL CHAMBER. 
          I'M CALLING THE MEETING TO ORDER AND AN ANNOUNCEMENT OF A QUORUM HERE AT 4 31. 
          DO WE HAVE ANY CITIZEN COMMENTS? VERY GOOD. 
          UH, NEXT REPORTS. 
          [a.  Receive the Baytown Area Water Authority's Annual Financial Report for the fiscal year ended September 30, 2023.]
WE WILL NOW RECEIVE THE BAYTOWN AREA WATER AUTHORITIES' ANNUAL FINANCIAL REPORT FOR THE PHYSICAL YEAR ENDED SEPTEMBER 30TH, 2023. 
          UM, TODAY, UM, WE'RE HERE, UH, GOOD EVENING. 
          WE ARE HERE TO PRESENT THE, UM, ANNUAL FINANCIAL REPORT FOR FY 23, AND WE HAVE MICHAEL BROTHERTON HERE FROM BELL HARRIS, OUR, UH, AUDITING FIRM TO PRESENT THE AUDIT TO YOU. 
          GOOD EVENING. 
          UH, JUST LIKE LAST YEAR, UM, I'LL JUST GO OVER SOME OF THE FINANCIAL HIGHLIGHTS AND I'LL BE HAPPY TO ANSWER ANY QUESTIONS. 
          UH, IF YOU HAVE THE REPORT IN FRONT OF YOU, LET'S JUST START IN THE VERY FRONT. 
          ON PAGE ONE IS WHERE WE HAVE OUR OPINION LETTER, OUR INDEPENDENT AUDITOR'S REPORT, AND THAT'S WHERE WE STATE THAT WE'VE ISSUED A CLEAN UNMODIFIED OPINION. 
          THAT'S US PROVIDING OUR ASSURANCE THAT THE FINANCIAL STATEMENTS ARE FREE OF MATERIAL MISSTATEMENTS AND INCLUDE ALL THE REQUIRED DISCLOSURES. 
          UH, LET'S JUMP TO THE INCOME STATEMENT, THE OPERATING STATEMENT REAL QUICK ON PAGE 17, AND WE'LL JUST NOTE THE, THE CHANGE IN NET POSITION AND THE OPERATING INCOME FOR THE YEAR. 
          SO ON PAGE 17, IT'S YOUR STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN A NET POSITION. 
          ABOUT HALFWAY DOWN YOU CAN SEE YOUR OPERATING INCOME THIS YEAR WAS JUST UNDER 7 MILLION. 
          AND THEN AFTER SOME NON-OPERATING REVENUE AND EXPENSES, YOU ENDED THE YEAR WITH AN INCREASE TO YOUR NET POSITION OF 5.9 MILLION. 
          SO THE AUTHORITY STARTED THE YEAR WITH 66.2 MILLION, ENDED WITH 72.1 MILLION, AND OF THAT ABOUT 1.8 MILLION WAS AN INCREASE TO YOUR UNRESTRICTED NET POSITION. 
          I AM HAPPY TO REPORT THERE WAS NO MANAGEMENT LETTER THIS YEAR. 
          SO NO FINDINGS, NO ISSUES THAT CAME UP DURING THE AUDIT. 
          AND THE BACK OF THE FINANCIALS IS OUR REQUIRED AUDITOR DISCLOSURE LETTER. 
          THIS READS LIKE A CHECKLIST. 
          UM, AND IF THERE'S ANY ISSUES THAT CAME UP DURING THE AUDIT, IT WOULD BE NOTED ON HERE AS WELL. 
          UH, BUT THERE WERE NO ISSUES THAT CAME UP. 
          NO DISAGREEMENTS WITH MANAGEMENT. 
          NO ISSUES WITH TIMING. 
          UH, SO THERE'S NOTHING TO REPORT THERE. 
          THE REST OF THE REPORT SHOULD LOOK THE SAME AS LAST YEAR. 
          WHILE THERE WERE WAS A NEW STANDARD FOR LEASES, IT WAS IMMATERIAL, UH, TO THE FINANCIALS. 
          UM, SO IT DID NOT NEED TO BE IMPLEMENTED. 
          SO THE PRESENTATION, THE DISCLOSURE SHOULD ALL LOOK THE SAME AS LAST YEAR. 
          IF THERE'S ANY QUESTIONS, I'LL BE HAPPY TO ANSWER THEM. 
          ANY QUESTIONS MAKE A MOTION. 
          WE RECEIVE THE FINANCIAL REPORT AS PRESENTED FOR YEAR END, SEPTEMBER 30TH, 2023. 
          I SECOND. 
          ANY DISCUSSION? ALL IN FAVOR OF RECEIVING THE REPORT? AYE. 
          AYE. 
          AYE. 
          ALL OPPOSED? NAY. 
          ALRIGHT, THE AYES HAVE IT. 
          THANK YOU. 
          THANK YOU. 
          OKAY. 
          NEXT IS OUR MANAGER'S REPORT. 
          [a. The next Baytown Area Water Authority meeting is scheduled for Wednesday, February 21, 2024, at 4:30 p.m., in the Council Chamber located at City Hall, 2401 Market Street, Baytown, Texas 77520. ]
MRS. FLINT. 
          UH, YES. 
          THE ONLY THING WE HAVE TO REPORT IS YOUR NEXT MEETING WILL BE ON WEDNESDAY, FEBRUARY THE 21ST. 
          2024 AT, AT FOUR 30 HERE IN THE COUNCIL CHAMBERS. 
          WAIT, FEB, THAT'S THIS MONTH, THAT WEEK AFTER NEXT. 
          YES. 
          THIS IS A SPECIAL MEETING. 
          DO WE REGULAR MEETING? DO WE NEED THE REGULAR MEETING? WE WILL LET YOU KNOW IF THERE ARE ITEMS THAT, IF THERE, IF THERE'S NOT ANY ITEMS, I WOULD SAY WE PUSH IT TO MARCH, BUT YEAH, WE CAN DO THAT, ABSOLUTELY. 
          OR I PROBABLY WON'T BE ABLE TO ATTEND . 
          VERY GOOD. 
          ALRIGHT. 
          UM, AND SINCE WE DON'T HAVE ANYTHING ELSE TO, UH, TO TALK ABOUT, I'M LOOKING FOR A MOTION TO ADJOURN. 
          I MOTION TO ADJOURN IN A SECOND. 
          I'LL SECOND THAT. 
          ALL IN FAVOR SAY AYE. 
          AYE. 
          AYE. 
          THE NAYS ALL. 
          AND THE MOTION PASSES. 
          THANK YOU VERY MUCH. 
          GOOD.
* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.