River Ridge ratifies audit, flags multiple budget variances and orders sign inspections

The Board ratified Resolution 2024-05A accepting the audited financial report for the fiscal year ended Sept. 30, 2023. Mrs. Adams noted that the audited report had been presented at the prior meeting and the ratification completed the acceptance process.

Mrs. Adams then presented the unaudited financial statements as of Sept. 30, 2024 and identified apparent classification errors and budget variances. Key points included:

• General Fund "Engineering" at 209% of budget, suggesting some expenditures that should sit in Special Revenue may have been included in the General Fund.

• General Fund "Contingencies" at 421% of budget because $4,209 likely belongs under "Other contractual" as a landscaping expense.

• NPDES reporting filing on Page 2 listed $19,805 (152% of budget); Mrs. Adams said she will review the General Ledger and advise further.

• General Fund "Debt service (prin & int) 2022 note" at $74,480 (205% of budget); staff reported the error was addressed and will be corrected in the next financials.

• "Series 2022A Note" item at $8,672 with potential preliminary expenses that may not have been repaid.

District Engineer Charlie Krebs also reported ongoing issues with signage: a sign reading "Southern Hills Court" should read "Southern Hills Drive," and 50 or more lake and wetland signs are rusted and unsightly; staff was asked to inspect and schedule replacements. Mrs. Adams and staff will request copies of paid invoices from Corporate for reconciliation and correction in the next reporting cycle.