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Heritage Pines CDD accepts unaudited Aug. 31 financials and opens BankUnited ICS for surplus funds
Summary
The board accepted unaudited financial statements as of Aug. 31, 2024 and heard that a BankUnited Insured Cash Sweep account will be opened to invest General Fund surplus funds; the board approved acceptance unanimously.
District Manager Chuck Adams presented the unaudited financial statements as of Aug. 31, 2024 and told the board that the General Fund surplus funds are being placed in a BankUnited Insured Cash Sweep (ICS) account to invest those funds. The ICS account was described as the vehicle to hold and invest the surplus.
Supervisor Michael Walsh asked whether SOLitude could be asked to compensate the district for poor performance; Mr. Adams said he would contact SOLitude and thought it reasonable to hold them 50% responsible. On motion by Mr. Walsh and seconded by Ms. Vaughan, with all in favor, the unaudited financial statements as of Aug. 31, 2024, were accepted by the board.
