River Ridge CDD ratifies audited financial report and flags multiple budget variances in unaudited statements

The Board ratified Resolution 2024‑05A accepting the Audited Financial Report for the fiscal year ended Sept. 30, 2023 by unanimous vote.

Mrs. Adams then presented the unaudited financial statements as of Sept. 30, 2024 and called attention to several notable variances and possible ledger misclassifications. She observed the General Fund 'Engineering' line item at 209% of budget and indicated expenditures that should be recorded under Special Revenue may have been posted incorrectly. 'Contingencies' was reported at 421% of budget because a $4,209 landscaping expense was coded incorrectly and should appear under 'Other contractual.' The General Fund 'NPDES reporting filing' item was reported at $19,805, or 152% of its budget, and Mrs. Adams said she would review the General Ledger and obtain copies of paid invoices from Corporate for verification.

Mr. Blumenthal and Mr. Adams discussed other entries including an $8,672 'Series 2022A Note' item and the 2022 note principal & interest line appearing at $74,480 (205% of budget); the Board was told the error was addressed and would be corrected in the next financials. Staff were asked to inspect rusted conservation signage and to follow up on sign corrections with vendor Lykins‑SignTek.

No additional fiscal actions (transfers, new appropriations or contract awards) were recorded at the meeting. The Board ratified the audited report and directed staff to provide supporting invoices and corrected entries for the next reporting cycle.