Regular Board Meeting - April 19, 2017

NOTE 15- SUBSEQUENT EVENTS

Management has evaluated subsequent events and does not know of any additional comments or disclosures that should be made thru the date of this report.

NOTE 17 - GOING CONCERN

The District has experienced a negative cash flow for the past two years. This has resulted from a lawsuit filed against Counties in the state by “Centrally Assessed Utilities ” resulting in the District having to refund tax money to these Utilities as well as a subsequent reduction of property tax valuation s in the District. The District is exploring options to mitigate the reduction in property taxes such as additional annexations into the District.

DRAFT