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Board accepts unaudited Dec. 31 financials; staff to present 10-year forecast including Lake 8 project and irrigation replacement
Summary
The Board accepted unaudited financial statements as of Dec. 31, 2024; accounting reclassified several line items including a $4,343 recoding, and staff said a 10-year forecast will include Lake 8 stormwater work, asphalt/gutter repairs and replacement of 31‑year-old irrigation pipes.
Mrs. Adams presented the unaudited financial statements as of Dec. 31, 2024 and explained accounting reclassifications: expenses that caused the Engineering budget to exceed its line were recoded to the Special Revenue Fund, and $4,343 was recoded from Contingencies to the Landscape General Fund outside the gates. "Accounting is recoding expenses that caused the 'Engineering' budget to exceed budget to the 'Special Revenue Fund' budget line item," Adams said.
Assistant Secretary Kurt Blumenthal pointed to unassigned working capital carried into FY2025 and said the CDD remains on sound financial footing. Mr. Long said additional forecasted items will include the Lake 8 stormwater management project, asphalt and gutter repairs and replacing 31-year-old irrigation pipes; staff will prepare a 10-year forecast for Board consideration.
