River Ridge accepts audited report and flags budget variances in unaudited September statements

The River Ridge board ratified Resolution 2024‑05A on Oct. 22, accepting the audited financial report for the fiscal year ended Sept. 30, 2023.

District Manager Cleo Adams then presented unaudited financial statements as of Sept. 30, 2024 and identified apparent classification and allocation issues: General Fund "Engineering" showed 209% of budget (suggesting expenditures that belong in Special Revenue were included); "Contingencies" was reported at 421% of budget because $4,209 should have been classified under "Other contractual" (landscaping); NPDES reporting filing appeared at $19,805 (152% of budget); and the General Fund debt service (Series 2022 note) showed $74,480 (205% of budget). Mrs. Adams said Corporate will provide copies of paid invoices to assist reconciliation and that the debt service error had been addressed and will be corrected in the next financials.

Separately, District Engineer Charlie Krebs reported that numerous lake and wetland signs were rusted and that at least one vendor-supplied sign contained an incorrect legend (should read Southern Hills Drive, not Southern Hills Court); he asked Mr. Willis to inspect conservation-signage needs and to remind the lakes vendor about upcoming installations.

The board directed staff to obtain supporting invoices and correct allocations for the next financial posting; the audited report acceptance and unaudited statements review were recorded in the meeting minutes.