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River Ridge CDD accepts audited financial report for FY2023
Summary
The River Ridge Community Development District accepted the audited financial statements for the fiscal year ended Sept. 30, 2023; the auditor reported no significant noncompliance but noted the Special Revenue Fund exceeded budget and recommended a budget amendment.
Ben Steets of Grau & Associates presented the audited financial statements for the fiscal year ended Sept. 30, 2023 and told the Board there were no significant instances of noncompliance and that internal controls over financial reporting appeared to be operating as intended.
Steets noted one finding (page 28 of the audit): 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. He also confirmed that bond principal and interest payments due 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 to accept the audited financial report. On motion by Mr. Blumenthal, seconded by Mr. Twombly, “with all in favor,” the Board adopted Resolution 2024-05 accepting the audit.
Mr. Adams said he will follow up with the Controller regarding the recommended budget amendment. No votes were recorded by name in the transcript beyond the motion and the Board’s unanimous approval noted in the minutes; the Board preserved the audit record and directed follow-up on the single audit finding.
