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River Ridge board unanimously adopts Resolution 2024-05 accepting FY2023 audit
Summary
The River Ridge CDD board on July 23 adopted Resolution 2024-05 accepting the audited financial statements for the fiscal year ended Sept. 30, 2023; auditors found one finding that Special Revenue Fund expenditures exceeded budget and recommended amending the budget within 60 days.
The River Ridge Community Development District Board of Supervisors on July 23 unanimously adopted Resolution 2024‑05 to accept the audited financial statements for the fiscal year ended Sept. 30, 2023.
Ben Steets of Grau & Associates presented the audit and reported there were no significant instances of noncompliance and that the district’s internal controls over financial reporting appeared to be operating as intended. The audit identified one finding (referenced on page 28): actual expenditures for the Special Revenue Fund exceeded budgeted amounts. Steets recommended that the district amend the appropriate budget within 60 days of year end to reflect the expenditures.
In response to a question about Note 10, Steets confirmed that principal and interest payments on bonds existing at fiscal year end were made on time and that the Series 2019 note was retired subsequent to year end on April 24, 2024.
The board voted to accept the audit on a motion by Kurt Blumenthal, seconded by Robert Twombly; the motion carried with all in favor. The board directed staff to follow up with the controller regarding budget amendments as appropriate.
