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River Ridge board accepts audited FY2023 financial report; several routine motions approved
Summary
The River Ridge Community Development District board unanimously accepted the audited financial report for the fiscal year ended Sept. 30, 2023 (Resolution 2024-05) and approved routine motions including remote attendance authorization and minutes approval; auditors recommended a budget amendment for a Special Revenue Fund overage.
The River Ridge Community Development District Board of Supervisors unanimously adopted Resolution 2024-05 to accept the audited financial report for the fiscal year ended Sept. 30, 2023.
Ben Steets of Grau & Associates presented the audit and said the firm found “no significant instances of non-compliance and the internal controls over financial reporting appear to be operating as intended.” He identified one finding on the Special Revenue Fund — actual expenditures exceeded the adopted budget — and recommended that the District amend the budget within 60 days of year end.
On a motion by Supervisor Kurt Blumenthal, seconded by Supervisor Robert Twombly, the Board adopted Resolution 2024-05 accepting the audit. The board also approved several routine items on unanimous votes: a motion by Supervisor Terry Mountford, seconded by Supervisor Kurt Blumenthal, authorizing Chair Bob Schultz to attend and fully participate via telephone/Zoom due to exceptional circumstances; and approval of the June 25, 2024 regular meeting minutes (motion by Blumenthal, seconded by Jim Gilman).
District Manager Cleo Adams said staff will follow up with the Controller on the Special Revenue Fund overage and will edit the financials to reflect that MRI plugged the end of one pipe (clarifying an earlier item). The Board set the next meeting and the FY2025 budget hearing for Aug. 27, 2024 at 1:00 p.m.
Votes at a glance - Authorize remote attendance for Chair Bob Schultz: Mover Terry Mountford; Second Kurt Blumenthal; Outcome: unanimous approval. - Resolution 2024-05 (accept audited financial report, FY2023): Mover Kurt Blumenthal; Second Robert Twombly; Outcome: unanimous approval. - Approval of June 25, 2024 minutes (as amended): Mover Kurt Blumenthal; Second Jim Gilman; Outcome: unanimous approval.
The Board did not adopt any policy changes at the meeting; staff will return with any required budget amendment language and follow-up information.
