River Ridge board accepts FY2023 audited financial report, adopts Resolution 2024‑05

Ben Steets of Grau & Associates presented the District’s audited basic financial statements for the fiscal year ended Sept. 30, 2023, telling the board the audit found no significant instances of noncompliance and that internal controls over financial reporting appear to be operating as intended. He noted one finding on Page 28: actual expenditures in the Special Revenue Fund exceeded the budget and recommended that the budget be amended within 60 days of year end.

Steets also confirmed that the Series 2019 Note was retired on April 24, 2024, and therefore was not reported as a subsequent event in the audit. Board members discussed whether a prior staff budget amendment had addressed related issues in the General Fund; Mr. Steets said the Special Revenue Fund specifically requires that actual expenditures be budgeted.

Mrs. Cleo Adams presented Resolution 2024‑05 to accept the audited financial report. On a motion by Supervisor Kurt Blumenthal, seconded by Supervisor Robert Twombly, the Board adopted Resolution 2024‑05 "with all in favor." The meeting record does not include a roll‑call tally beyond the unanimous outcome; supervisors present were Chair Bob Schultz (participating by telephone), Terry Mountford, Kurt Blumenthal, Jim Gilman and Robert Twombly.

The board asked staff to follow up with the Controller about carrying out the recommended budget amendment for the Special Revenue Fund. The acceptance of the audit and the directive to amend the Special Revenue Fund budget within the stated timeframe are the principal outcomes recorded.