Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Heritage Pines accepts unaudited Aug. 31 financials; moves surplus into BankUnited ICS
Summary
Supervisors accepted the districts unaudited financial statements and approved opening a BankUnited Insured Cash Sweep account for General Fund surplus; a supervisor said he would seek partial compensation from SOLitude for poor performance.
The Heritage Pines Community Development District board accepted the unaudited financial statements as of Aug. 31, 2024, and heard that the General Fund surplus will be placed into a BankUnited Insured Cash Sweep (ICS) account. District Manager Chuck Adams presented the reports and said the ICS account is being opened to invest surplus funds. On a motion by Supervisor Michael Walsh, seconded by Supervisor Carol Vaughan, the unaudited statements were accepted unanimously.
Supervisor Michael Walsh asked whether SOLitude could be asked to compensate the district for perceived poor performance; Adams said he would contact SOLitude and thought it reasonable to hold them "50% responsible." The board took no immediate punitive action but recorded Adamss intent to pursue a conversation with SOLitude about accountability and compensation.
