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River Ridge CDD adopts Resolution 2024‑05 accepting audited FY2023 financial report
Summary
On July 23 the River Ridge Community Development District adopted Resolution 2024‑05 accepting the audited financial statements for the fiscal year ended Sept. 30, 2023; the auditor noted one finding (Special Revenue Fund expenditures exceeded budget) and recommended a budget amendment within 60 days.
The River Ridge Community Development District Board adopted Resolution 2024‑05 on July 23 accepting the audited financial statements for the fiscal year ended Sept. 30, 2023. The motion to adopt was made by Supervisor Kurt Blumenthal, seconded by Supervisor Robert Twombly, and carried "with all in favor." The Board includes five supervisors: Mountford, Blumenthal, Gilman, Twombly and Schultz (Schultz participated by telephone).
Ben Steets of Grau & Associates presented the audit and reported no significant instances of non‑compliance and that internal controls appeared to be operating as intended. He identified one finding (noted on Page 28 of the audit) that actual expenditures for the Special Revenue Fund exceeded the budget and recommended amending the budget within 60 days of year end to correct that variance. Mr. Steets also confirmed that principal and interest payments for bonds existing at fiscal year end were made on time and that the Series 2019 note was retired on April 24, 2024, subsequent to year end.
On the same agenda the Board accepted unaudited financial statements as of June 30, 2024, reviewed the check register, and approved amended minutes for the June 25, 2024 meeting (corrections included the spelling of Samantha De Gyras and a corrected job title: Assistant to District Counsel). The Board scheduled the next meeting — and the FY2025 budget hearing and adoption — for Aug. 27, 2024 at 1:00 p.m.
