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River Ridge CDD accepts FY2023 audited financial report; board adopts Resolution 2024‑05
Summary
Grau & Associates told the River Ridge CDD the FY2023 audit found no significant non‑compliance but flagged Special Revenue Fund expenditures that exceeded the budget; the board adopted Resolution 2024‑05 accepting the audit and approved meeting minutes as amended.
At its July 23 meeting the River Ridge Community Development District accepted the audited basic financial statements for the fiscal year ended Sept. 30, 2023, after a presentation by Ben Steets of Grau & Associates.
Steets told the board the audit "finds that there are no significant instances of non‑compliance and the internal controls over financial reporting appear to be operating as intended." He noted one finding (listed on Page 28 of the audit): actual expenditures in the Special Revenue Fund exceeded the adopted budget and recommended the district amend that budget within 60 days of year end. Steets also confirmed that the Series 2019 Note was retired April 24, 2024, subsequent to year end.
Mrs. Adams presented Resolution 2024‑05, accepting the audited financial report. On a motion by Supervisor Kurt Blumenthal, seconded by Supervisor Robert Twombly, the board adopted Resolution 2024‑05 by unanimous vote.
The board also approved meeting minutes as amended (motion by Mr. Blumenthal; second by Mr. Gilman). The amendments included correcting the spelling of Samantha De Gyras and revising a staff title to "Assistant to District Counsel."
District Manager Mr. Adams said he will follow up with the Controller regarding the need to amend budgets for the Special Revenue Fund per the auditor’s recommendation. The board recorded no other instances of non‑compliance in the audit presentation.
The board’s actions were procedural and did not include additional spending approvals related to the audit finding; staff will return with recommended budget amendments if required.
