To: Andr
ew P. Powers, City Manager
From: Jaime Boscarino, Finance Director
Date: December 24, 2025
Subject: Conejo Open Space Conservation Agency Annual Financial Report – Fiscal Year 2024-25
Encl
osed is a copy of the Conejo Open Space Conservation Agency (COSCA) Annual Financial Report for the Fiscal Year ended June 30, 2025 . COSCA is a Joint Powers Authority between the City and Conejo Recreation and Park District created in 1977.
Expenditures are shared equally between the City and District. The City is responsible for fiscal management of COSCA activities.
Rogers
, Anderson, Malody & Scott, LLP, the City's external auditors, provided an Independent Auditors' Report stating that the financial statements present fairly, in all material respects, the financial position of COSCA.
Please refer to Management’s Discussion and Analysis and Notes to Basic Financial Statements, as shown on pages 4-8 and pages 14-18, respectively, for a comprehensive overview of COSCA’s position.
Copies
of the report have also been included for each member of City Council. The report will be presented to the COSCA Board at the February 18, 2026, Board meeting. I would be pleased to meet with you, or individual City Councilmembers interested in a more in- depth discussion of the report.
Jaim
e Boscarino
Finance Director
c: Jim
Friedl, CRPD, General Manager
Melissa Smith, CRPD, Director, Management Services
Brian Stark, COSCA Administrator
Att
achment
FIN:300-10\H:\COMMON\ACFLR\CAFR 2025\ACFR Distribution\Transmittal Letters\COSCA Letter to Council 2025.docx ATTACHMENT #2