Agenda

Return

C. 7

To:	Board of Supervisors
From:	Anna Roth, Health Services Director
Date:	March 21, 2023

Contra

Costa

County

Subject:

West Contra Costa Healthcare District

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 03/21/2023

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Ken Carlson, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Patrick Godley, (925) 957-5405

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: March 21, 2023
Monica Nino, County Administrator

BY:	, Deputy

RECOMMENDATION(S):

Acting as the Governing Board of the West Contra Costa Healthcare District, ACCEPT the West Contra Costa Healthcare District annual 2021-22 Financial audit completed by JWT & Associates; and ACCEPT the West Contra Costa Healthcare District (WCCHD) annual 2021-22 Successor Retirement Plan audit completed by JWT & Associates.

FISCAL IMPACT:

There is no fiscal impact for this action.

BACKGROUND:

The District is required to have an annual Financial Audit of its business activities and an audit of the Successor Retirement Plan to meet the regulatory requirements of the outstanding bonds. The audit found no issues as indicated below:

BACKGROUND: (CONT'D)

The annual District financial audit was completed by JWT & Associates. The audit had no adverse findings and concluded “In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the business-type activities and fiduciary activities of the District as of June 30, 2022 and 2021, and the changes in financial position and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America”.

The annual 2021-22 Successor Retirement Plan audit was completed by JWT & Associates. The audit noted “In our opinion, the financial statements referred to above present fairly, in all material respects, the assets available for benefits of the Plan as of June 30, 2022 and 2021, and the changes in its net assets available for benefits for the years then ended, in accordance with accounting principles generally accepted in the United States of America”. The audit further indicated that “Based on current actuarially determined Plan liabilities and anticipated estimated earnings, distributions and expenses, the Plan is expected to be able to fund all participant liabilities”.

CONSEQUENCE OF NEGATIVE ACTION:

If this action is not approved, regulatory requirements of the outstanding bonds to conduct an annual Financial Audit of business activities and an audit of the Successor Retirement Plan will not be fulfilled.