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River Ridge CDD accepts FY2023 audit; board adopts Resolution 2024-05
Summary
The Board accepted the audited financial report for the fiscal year ended Sept. 30, 2023, adopting Resolution 2024‑05 after Grau & Associates noted no significant noncompliance but reported actual expenditures exceeded the Special Revenue Fund budget and recommended a budget amendment within 60 days.
At its July 23 meeting, the River Ridge Community Development District Board unanimously accepted the audited financial statements for the fiscal year ended Sept. 30, 2023, and adopted Resolution 2024‑05 to formally accept the report.
Ben Steets of Grau & Associates presented the audit and said the review found no significant instances of noncompliance and that internal controls over financial reporting appear to be operating as intended. He reported one audit finding: actual expenditures for the Special Revenue Fund exceeded the adopted budget and recommended that the Board amend the budget within 60 days of year‑end to account for those expenditures.
Steets also addressed Note 10 and the Series 2019 Note: he confirmed that principal and interest payments for bonds existing at 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.
The resolution to accept the audited report was presented by Mrs. Adams and adopted on a motion by Mr. Blumenthal, seconded by Mr. Twombly, with all members in favor. District Manager Chuck Adams said he will follow up with the Controller as recommended by the auditor regarding the Special Revenue Fund variance.
