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River Ridge supervisors accept FY2023 audited financial report and adopt Resolution 2024‑05
Summary
The River Ridge board accepted the audited financial statements for the fiscal year ended Sept. 30, 2023, adopted Resolution 2024‑05, and noted a budget finding that requires a Special Revenue Fund amendment; the board also approved minutes and authorized remote participation for its chair.
Ben Steets of Grau & Associates presented the district’s audited financial statements for the fiscal year ended Sept. 30, 2023 and told the board the audit found "no significant instances of non‑compliance" and that internal controls over financial reporting "appear to be operating as intended." He noted one finding—recorded on page 28—where actual expenditures for the Special Revenue Fund exceeded the budget and recommended the board amend that budget within 60 days of year end.
Steets 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 on April 24, 2024.
On motion by Supervisor Kurt Blumenthal, seconded by Supervisor Robert Twombly, the board adopted Resolution 2024‑05 accepting the audited financial report. The board also approved a motion authorizing Chair Bob Schultz to attend and fully participate via telephone/Zoom due to exceptional circumstances.
The board approved minutes of a prior regular meeting with corrections to the spelling of Samantha De Gyras’s name and her title, which was changed to "Assistant to District Counsel." The district manager said staff will correct the financials to reflect that MRI plugged one pipe, not two.
Next steps: staff will follow up with the district controller on the Special Revenue Fund amendment recommendation and present updates at future meetings.
