Summary

The District’s first quarter financial results are consistent with the normal timing of our revenues and expenditures. County revenues are typically very limited in the early months of the fiscal year, while the District completed its annual road work and related FEMA road work during this period. As a result, the income statement shows a negative net income for the quarter. This timing difference is expected and is not a cause for concern, provided the District continues to receive County parcel assessment and property tax revenue later in the fiscal year as anticipated.