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Heritage Pines board accepts unaudited Aug. 31 financials; manager to pursue SOLitude compensation claim
Summary
The board accepted unaudited financial statements as of Aug. 31, 2024 and authorized a BankUnited Insured Cash Sweep account for surplus funds; the manager said he will contact SOLitude about potential compensation for service failures.
The Heritage Pines Community Development District board accepted the unaudited financial statements as of Aug. 31, 2024 at its Oct. 15 meeting.
District Manager Chuck Adams presented the statements and reported the district is opening a BankUnited Insured Cash Sweep (ICS) account to invest General Fund surplus funds. Assistant Secretary Michael Walsh asked whether the district could seek compensation from SOLitude for poor performance; Adams said he would contact SOLitude and that he believed it reasonable to hold them 50% responsible for perceived deficiencies.
On a motion by Michael Walsh, seconded by Carol Vaughan, the board accepted the unaudited financial statements. The board did not quantify any offset or set an amount for potential compensation during the meeting.
