Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Audit topic
No spam. Unsubscribe anytime.
River Ridge CDD accepts FY2023 audit; board notes one budget finding
Summary
The River Ridge CDD on July 23 adopted Resolution 2024‑05 accepting the audited financial statements for the fiscal year ended Sept. 30, 2023; auditors found no significant non‑compliance but recorded that Special Revenue Fund expenditures exceeded budget and recommended a budget amendment.
The River Ridge Community Development District Board unanimously adopted Resolution 2024‑05 on July 23, accepting the audited financial statements for the fiscal year ended Sept. 30, 2023.
Ben Steets of Grau & Associates presented the audit and said there were "no significant instances of non‑compliance" and that internal controls over financial reporting "appear to be operating as intended." He noted one finding (referenced on page 28 of the audit) where actual expenditures for the Special Revenue Fund exceeded the budget and recommended the district amend that fund’s budget within 60 days of year end.
In response to a question about Note 10 and the Series 2019 note, Mr. Steets confirmed that principal and interest payments for bonds existing as of fiscal year end were paid on time and that the Series 2019 Note was retired subsequent to year end on April 24, 2024; district staff said they will follow up with the controller about related entries.
Votes at a glance: Resolution 2024‑05 (accept audit): motion by Kurt Blumenthal, seconded by Robert Twombly — adopted, "all in favor." Authorization for remote participation by Chair Bob Schultz: motion by Terry Mountford, seconded by Kurt Blumenthal — approved. Approval of May 28, 2024 minutes (as amended): motion by Kurt Blumenthal, seconded by Jim Gilman — adopted.
The board did not authorize immediate budget transfers at the meeting; staff said they will coordinate the recommended budget amendment and return with the appropriate paperwork.
