Subject: RCH Water Supply Corporation - 2023 Annual Financial Report Highlights

Dear RCH Members,

We are pleased to inform you that the audited financial statements for RCH as of December 31, 2023, are now available on our website. 

Summary of Key Audit Findings

• Total Assets: $16,245,777, with current assets of $9,052,192 and fixed assets net of depreciation at $7,183,585.
• Current Liabilities: $506,735, comprising accounts payable of $233,143 and income tax payable of $259,105, indicating manageable short-term obligations.
• Total Members’ Equity: $15,739,042, reflecting robust financial health.
• Audit Opinion: The auditors have confirmed that the financial statements present the company’s position fairly, in line with U.S. generally accepted accounting principles (GAAP).

Condley and Company LLP conducted the audit. The financial statements present a true and fair view of the organization's financial position, and the corporation remains in a healthy financial state. 

For more detailed information, members are encouraged to review the full financial statements available at 

https://rchwater.myruralwater.com/documents/1407/FINAL_-_RCH_Water_Supply_Corporation_-_December_2023_Financial_Statements.pdf

Best regards,

David Naylor

RCH Board President