BIPCo audit finds no financial issues

Under the “new normal” the Block Island Utility District Board of Commissioners held its monthly meeting by Zoom on Saturday, April 4. There were 13 participants for the meeting, including Block Island Power’s accountant David Bebyn, attorney Michael McElroy, and members of the audit team from Marcum, LLC. The meeting was not without a few instances of humor and technical difficulties. Kyle Conners of Marcum explained that the colorful drawings behind him on his screen were the result of his five-year-old’s homeschooling, and at one point, chimes started going off. Was it someone’s cell phone? No. Commissioner Mary Jane Balser said, “that’s the clock in my house.”
The focus of most of the meeting was on the results of the financial audit, for which a draft report was reviewed. The financial statements look a bit different than previously, as the power company is now not-for-profit. Other comparisons with the old BIPCo are somewhat complicated by the fact that the period is less than a full year as the utility has changed its fiscal year to end on Dec. 31.
While there were many questions, the auditors noted that they didn’t find any

Block Island Times – Read More>>