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River Ridge CDD adopts audited FY2023 financial report and approves minutes
Summary
The River Ridge Community Development District Board unanimously adopted Resolution 2024-05 accepting the audited financial report for the fiscal year ended Sept. 30, 2023, and approved amended meeting minutes; the audit noted one finding that Special Revenue Fund expenditures exceeded budget and recommended an amendment within 60 days.
The River Ridge Community Development District Board of Supervisors on July 23 adopted Resolution 2024-05 accepting the audited financial report for the fiscal year ended Sept. 30, 2023, and approved amended meeting minutes.
Grau & Associates auditor Ben Steets 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," while noting one finding on Page 28 that actual expenditures for the Special Revenue Fund exceeded budget and recommending the District amend the budget within 60 days.
On the adoption motion, Mr. Blumenthal moved and Mr. Twombly seconded; the resolution was adopted "with all in favor." Steets confirmed that the Series 2019 note was retired after year-end, on April 24, 2024, and that principal and interest payments for bonds existing at fiscal year end were made on time.
Board members asked staff follow-up questions about controller actions and budget treatment. Mrs. Adams said Mr. Adams will follow up with the Controller to address the Special Revenue Fund finding.
The Board also reviewed and amended draft minutes (correcting the spelling of Samantha De Gyras and updating a role to "Assistant to District Counsel"); Mr. Blumenthal moved and Mr. Gilman seconded approval of the minutes as amended.
The Board set its next regular meeting for Aug. 27, 2024 at 1:00 p.m., when the FY2025 budget adoption hearing is scheduled to occur.
