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River Ridge CDD unanimously accepts FY2023 audited financial statements
Summary
The River Ridge Community Development District Board adopted Resolution 2024-05 to accept the audited financial report for the fiscal year ended Sept. 30, 2023; the auditor reported no significant compliance issues but recommended a budget amendment for the Special Revenue Fund.
Ben Steets, representing Grau & Associates, presented the audited financial statements for the fiscal year ended Sept. 30, 2023, telling the Board that there were "no significant instances of non-compliance" and that "the internal controls over financial reporting appear to be operating as intended." He noted one audit finding: actual expenditures for the Special Revenue Fund exceeded budget, and he recommended the Board amend that budget within 60 days of year end.
Mr. Steets confirmed that principal and interest payments on bonds that existed as of the fiscal year end were made on time and that the Series 2019 note was retired subsequent to year end, on April 24, 2024. Mrs. Adams said she will follow up with the Controller to ensure the recommended budget adjustment is made.
Mrs. Adams presented Resolution 2024-05 to accept the audited financial report. On MOTION by Kurt Blumenthal and seconded by Robert Twombly, the Board adopted Resolution 2024-05 accepting the audited financial report, with all in favor.
The Board took no other formal financial actions at the July 23 meeting but asked staff to proceed with the recommended budget amendments and follow up with the Controller.
