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River Ridge CDD adopts resolution accepting FY2023 audit; one budget finding noted
Summary
The River Ridge CDD Board accepted the audited financial statements for the fiscal year ended Sept. 30, 2023, presented by Grau & Associates. Auditor Ben Steets reported no significant non-compliance but flagged that Special Revenue Fund expenditures exceeded budget and recommended a budget amendment.
The River Ridge Community Development District Board voted July 23 to accept the audited financial statements for the fiscal year ended Sept. 30, 2023.
Ben Steets of Grau & Associates presented the audit and stated auditors found no significant instances of non-compliance and that internal controls over financial reporting "appear to be operating as intended." He identified one finding: actual expenditures for the Special Revenue Fund exceeded the budget and recommended amending the budget within 60 days of year end to correct the variance.
Steets confirmed that principal and interest payments for bonds that existed as of the fiscal year end were made on time and that the Series 2019 Note was retired on April 24, 2024, subsequent to the fiscal year end.
Mrs. Adams presented Resolution 2024-05 accepting the audited financial report. On motion by Mr. Blumenthal and seconded by Mr. Twombly, "with all in favor," the Board adopted Resolution 2024-05.
Next steps: District staff will follow up with the controller to process any required budget amendments for the Special Revenue Fund and report back.
