To: Board of Supervisors
From: Dr. Grant Colfax, Health Services Director
Report Title: West Contra Costa Healthcare District Annual Audits
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
Acting as the Governing Board of the West Contra Costa Healthcare District,
ACCEPT the West Contra Costa Healthcare District annual 2024-25 Financial audit completed by JWT & Associates; and
ACCEPT the West Contra Costa Healthcare District (WWCHD) annual 2024-25 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 regulatory requirements of the outstanding bonds. The audit found no issues as indicated below:
1. 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, 2025 and 2024, and the changes in financial position and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America".
2. The annual 2024-25 Successor Retirement Plan audit was completed by JWG & Associates. The audit noted "In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of June 30, 2025 and 2024, 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,...
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