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River Ridge board accepts FY2023 audited financials; adopts Resolution 2024-05
Summary
Grau & Associates presented the FY2023 audit finding no significant noncompliance; the board adopted Resolution 2024-05 accepting the audited report and approved prior meeting minutes and remote participation by Supervisor Schultz. The audit noted a Special Revenue Fund variance and recommended a budget amendment.
The River Ridge Community Development District Board on July 23 accepted the audited financial statements for the fiscal year ended Sept. 30, 2023, after a presentation by Ben Steets of Grau & Associates and the board adopted Resolution 2024-05 to formalize acceptance.
Ben Steets said the audit found "no significant instances of non-compliance and the internal controls over financial reporting appear to be operating as intended," but noted one finding: actual expenditures for the Special Revenue Fund exceeded the budget and the recommendation is to amend the budget within 60 days of year-end. Steets also confirmed the Series 2019 Note was retired on April 24, 2024.
Mrs. Adams presented Resolution 2024-05. On motion by Mr. Blumenthal, seconded by Mr. Twombly, the board adopted the resolution with all in favor. The board also approved minutes presented as amended (the staff presentation referenced the June 25, 2024 minutes, while the motion text referenced May 28, 2024; the transcript contains this internal date inconsistency). Earlier the board authorized Supervisor Bob Schultz to participate remotely by motion of Mr. Mountford, seconded by Mr. Blumenthal; that motion carried.
The audit finding on the Special Revenue Fund means staff will follow up with the controller to ensure the necessary budget amendment is processed. The board set its next meeting for Aug. 27, 2024, when the FY2025 budget adoption will be on the agenda.
