Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Audit Fiscal2023 topic
No spam. Unsubscribe anytime.
River Ridge CDD adopts resolution accepting FY2023 audited financial statements; recommends Special Revenue Fund amendment
Summary
Grau & Associates presented the FY2023 audited financial report: internal controls functional, no significant non-compliance, but one finding that Special Revenue Fund expenditures exceeded the budget. The board adopted Resolution 2024-05 accepting the audit and tasked staff with following up on required budget amendment.
Ben Steets of Grau & Associates presented the Audited Financial Report for the fiscal year ended Sept. 30, 2023, reporting that internal controls over financial reporting appear to be operating as intended and there were no significant instances of non-compliance. Mr. Steets noted one finding (page 28): actual expenditures for the Special Revenue Fund exceeded the budget and recommended the District amend the budget within 60 days of year-end.
Board discussion noted that a prior staff budget amendment had been presented for the General Fund and that the Special Revenue Fund also requires expenditures to be budgeted. Mr. Adams said he would follow up with the controller on budgeting the Special Revenue Fund expenditures. Mr. Steets confirmed that payments for bonds existing at fiscal year-end were made on time and that the Series 2019 Note was retired on April 24, 2024, subsequent to year-end.
Mrs. Adams presented Resolution 2024-05 accepting the audited financial report. On motion by Mr. Blumenthal and seconded by Mr. Twombly, with all in favor, Resolution 2024-05 was adopted. The board did not record any dissenting votes or amendments to the resolution at the July 23 meeting.
