Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
River Ridge CDD adopts audited FY2023 financial report; one budget finding noted
Summary
The Board accepted the FY2023 audited financial statements and adopted Resolution 2024-05. The auditor reported no significant noncompliance but identified that actual expenditures for the Special Revenue Fund exceeded the budget and recommended a budget amendment within 60 days of year-end.
Ben Steets of Grau & Associates presented the audited financial statements for the fiscal year ended Sept. 30, 2023, telling the board the audit found no significant instances of noncompliance and that internal controls over financial reporting appeared to operate as intended. He noted one finding: actual expenditures for the Special Revenue Fund exceeded budget and recommended the district amend the budget within 60 days of year-end.
Steets also 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.
Mrs. Adams presented Resolution 2024-05 to accept the audited report. On motion by Mr. Blumenthal, seconded by Mr. Twombly, with all in favor, the Board adopted Resolution 2024-05 accepting the audited financial report for the fiscal year ended Sept. 30, 2023. Mr. Adams (District Manager) will follow up with the Controller regarding required budget amendments.
