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Heritage Pines board accepts unaudited Aug. 31 financials; moves surplus into BankUnited ICS account
Summary
The board accepted unaudited financial statements as of Aug. 31, 2024 and authorized opening a BankUnited Insured Cash Sweep (ICS) account to invest General Fund surplus; Supervisor Walsh asked whether SOLitude should compensate for poor performance and Manager Adams said he would contact the vendor.
District Manager Chuck Adams presented the unaudited financial statements as of Aug. 31, 2024 at the Oct. 15 Heritage Pines CDD meeting and said the district is opening a BankUnited Insured Cash Sweep (ICS) account to invest General Fund surplus funds.
Supervisor Michael Walsh asked whether SOLitude could be asked to compensate the district because of poor performance. Adams responded that he would contact SOLitude and "thinks it is reasonable to hold them 50% responsible." Following discussion, the board accepted the unaudited financial statements on a motion that passed with all supervisors in favor.
The manager did not provide line-by-line budget adjustments during the meeting and asked staff to follow up on vendor communications and the planned ICS account setup. The board's acceptance was procedural and carries no immediate change to adopted assessments.
