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River Ridge CDD accepts FY2023 audit; Board adopts Resolution 2024-05
Summary
Grau & Associates presented an audit finding that Special Revenue Fund expenditures exceeded budget and recommended a budget amendment; the Board unanimously adopted Resolution 2024-05 accepting the audited financial statements for the fiscal year ended Sept. 30, 2023.
Ben Steets of Grau & Associates presented the River Ridge Community Development District’s audited financial statements for the fiscal year ended Sept. 30, 2023, telling the Board there were “no significant instances of non-compliance” and that internal controls “appear to be operating as intended.”
Steets identified one audit finding related to the Special Revenue Fund, saying the actual expenditures exceeded the budget and recommending that the District amend that budget within 60 days of year end. In response to a board question about Note 10 and the Series 2019 Note, Steets clarified that bond principal and interest payments existing at fiscal year end were made on time and the Series 2019 Note was retired after year-end.
Mrs. Cleo Adams presented Resolution 2024-05, and on motion by Supervisor Kurt Blumenthal, seconded by Supervisor Robert Twombly, the Board — with all in favor — adopted Resolution 2024-05 accepting the audited financial report for the fiscal year ended Sept. 30, 2023. The Board asked staff to follow up with the Controller regarding budget amendments and any bookkeeping changes needed to reflect the auditor’s recommendation.
The adoption constitutes formal acceptance of the audit report; staff noted any necessary budget amendments will be processed per the auditor’s recommendation.
