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River Ridge board adopts Resolution 2024-05 accepting FY2023 audited financial report
Summary
Grau & Associates presented the FY2023 audited financial statements, reporting no significant non‑compliance but one finding that Special Revenue Fund expenditures exceeded budget; the board adopted Resolution 2024-05 to accept the audit and staff was asked to amend the budget within 60 days.
Ben Steets of Grau & Associates presented the audited financial report for the fiscal year ended Sept. 30, 2023 and told the River Ridge Community Development District Board that “there are no significant instances of non-compliance and the internal controls over financial reporting appear to be operating as intended.”
He identified one finding: actual expenditures for the Special Revenue Fund exceeded the budget and recommended the district amend that fund’s budget within 60 days of year end. Mr. Steets also confirmed that payments on bonds existing as of the fiscal year end were made on time and that the Series 2019 Note was retired subsequent to year end (satisfied April 24, 2024).
Mrs. Adams presented Resolution 2024-05, and on a motion by Mr. Blumenthal seconded by Mr. Twombly, the board adopted the resolution accepting the audited financial report. The motion passed with all in favor. The board instructed staff to follow up with the controller regarding the Special Revenue Fund budget amendment.
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