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River Ridge board adopts Resolution 2024-05 accepting FY2023 audit
Summary
The River Ridge Board unanimously accepted the audited financial report for the fiscal year ended Sept. 30, 2023 and adopted Resolution 2024-05. The audit found one finding: Special Revenue Fund expenditures exceeded budget, and the auditor recommended a budget amendment within 60 days.
At its July 23 meeting the River Ridge Community Development District Board of Supervisors voted unanimously to adopt Resolution 2024-05 accepting the audited financial statements for the fiscal year ended Sept. 30, 2023.
Ben Steets of Grau & Associates presented the audit findings, saying the auditor identified no significant instances of noncompliance and found internal controls over financial reporting were operating as intended. The audit included one finding (noted on Page 28): actual expenditures for the Special Revenue Fund exceeded the budget. The auditor recommended the District amend the budget within 60 days of year end to account for those expenditures. Steets also confirmed that principal and interest payments existing at fiscal year end were made on time and that the Series 2019 note was retired April 24, 2024.
Supervisor Kurt Blumenthal moved to adopt the resolution; Supervisor Robert Twombly seconded. The motion passed "with all in favor." No separate vote tally for individual supervisors was recorded in the minutes beyond the unanimous result.
The Board also reviewed unaudited financial statements as of June 30, 2024 and discussed budget variances and the five-year capital improvement plan. The Board scheduled a budget public hearing and adoption for Aug. 27, 2024 at 1:00 p.m.
