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River Ridge CDD accepts audited FY2023 financial statements; special revenue fund finding noted
Summary
The River Ridge CDD board unanimously adopted Resolution 2024‑05 accepting the audited financial report for the fiscal year ended Sept. 30, 2023; the auditor reported no significant noncompliance but noted Special Revenue Fund expenditures 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 the audit found "no significant instances of non‑compliance" and that internal controls appear to be operating as intended. He identified one finding: actual expenditures for the Special Revenue Fund exceeded budget and recommended amending that budget within 60 days of year‑end.
Mr. Steets 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.
Mrs. Adams presented Resolution 2024‑05 to accept the audited financial report. On a motion by Mr. Blumenthal, seconded by Mr. Twombly and "with all in favor," the Board adopted Resolution 2024‑05 accepting the audit.
The Board directed Mr. Adams to follow up with the Controller regarding the Special Revenue Fund finding. No recorded roll‑call tally was provided in the transcript; the motion was recorded as approved unanimously "with all in favor."
