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Board accepts unaudited Oct. 31 financials; Series 2022A note to be closed and prepaid
Summary
River Ridge CDD accepted unaudited financial statements as of Oct. 31, 2024 and recorded intent to close the Series 2022A note with funds applied to prepay bond debt. A question was raised about a missing Oct. 1 insurance payment entry; staff will report back.
District Manager presented the unaudited financial statements as of Oct. 31, 2024 and recorded that the Series 2022A note will be closed and the available funds applied to prepay bond debt.
Supervisor Kurt Blumenthal asked why the Oct. 1 annual insurance payment did not appear in the check register; Mrs. Adams said she would investigate and report her findings to Mr. Blumenthal at a future date. The financial material and a five‑year proposed plan were included for informational purposes.
