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River Ridge CDD adopts Resolution 2024-05, accepts FY2023 audited financial report
Summary
On July 23 the River Ridge CDD accepted the audited financial statements for the fiscal year ended Sept. 30, 2023, adopted Resolution 2024-05, and was told to amend the Special Revenue Fund budget after an audit finding that expenditures exceeded budget.
The River Ridge Community Development District Board voted July 23 to accept the audited financial statements for the fiscal year ended Sept. 30, 2023 and adopted Resolution 2024-05.
Ben Steets of Grau & Associates presented the audit, which found no significant instances of non-compliance and concluded that internal controls over financial reporting are operating as intended. The audit did include one finding: actual expenditures for the Special Revenue Fund exceeded the approved budget. Steets recommended the Board amend the budget within 60 days of year end to address that variance. He also confirmed the Series 2019 Note was retired April 24, 2024 and that principal and interest payments for bonds existing at fiscal year end were made on time.
On motion by Kurt Blumenthal and seconded by Robert Twombly, with all in favor, the Board adopted Resolution 2024-05 accepting the audited financial report. The Board also approved a separate motion at roll call to authorize Supervisor Bob Schultz to attend and fully participate via telephone/Zoom. Additionally, on motion by Kurt Blumenthal and seconded by Jim Gilman, the Board approved amended minutes for the May 28, 2024 Regular Meeting.
