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River Ridge CDD adopts resolution accepting FY2023 audited financial report; budget amendment for Special Revenue Fund recommended
Summary
On July 23 the River Ridge Board adopted Resolution 2024-05 to accept the FY2023 audited financial statements. Auditor Ben Steets found no significant noncompliance but noted Special Revenue Fund expenditures exceeded budget and recommended amending the budget within 60 days; Board adopted the resolution on a unanimous vote.
The River Ridge Community Development District Board of Supervisors voted July 23 to adopt Resolution 2024-05 accepting the audited financial report for the fiscal year ended Sept. 30, 2023.
Ben Steets of Grau & Associates presented the audit and said internal controls over financial reporting "appear to be operating as intended" and that the audit found no significant instances of noncompliance. He identified one finding in the Special Revenue Fund where actual expenditures exceeded the adopted budget and recommended the Board amend that fund's budget within 60 days of year end.
Steets also confirmed that principal and interest payments for bonds existing at fiscal year end were made on time and that the Series 2019 Note was retired subsequent to year-end.
On motion by Mr. Kurt Blumenthal and seconded by Mr. Robert Twombly, with all in favor, the Board adopted Resolution 2024-05 accepting the audited financial report. Those present and voting in favor were Chair Bob Schultz (via telephone), Vice Chair Terry Mountford, Assistant Secretaries Kurt Blumenthal, Robert Twombly and Jim Gilman.
The audit finding will require an amendment to the Special Revenue Fund; District staff will coordinate with the Controller to prepare the amendment and follow up as recommended.
