The Pennyrile Area Development District (PeADD) received a clean audit report for the 2024 fiscal year at their Board of Directors meeting on Monday.
Jaime Petersen from accounting and consulting firm, Calhoun and Company presented the report. A compliance test for PeADD’s Workforce Program and a finance test for the agency as a whole came back with zero findings or questioned costs.
During the 2024 fiscal year, PeADD generated over $22 million which is an increase in comparison to 2023. A large portion of the revenue came from federal and state grants. Then PeADD had nearly $22 million in expenses during the 2024 fiscal year.
The board approved the audit report and PeADD Executive Director, Jason Vincent says it’s important for the agency to receive a clean audit report because it shows their funding partners that they are operating responsibly
Vincent also thanked his staff for the clean report.