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Heritage Pines accepts unaudited Aug. 31 financials and 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 account to invest General Fund surplus; supervisors also directed staff to pursue possible compensation from SOLitude for poor performance.
The Heritage Pines CDD Board accepted the unaudited financial statements as of Aug. 31, 2024 and authorized the opening of a BankUnited Insured Cash Sweep (ICS) account to invest General Fund surplus funds, District Manager Chuck Adams reported.
Supervisor Michael Walsh asked whether SOLitude could be asked to compensate the CDD due to perceived poor performance. Adams said he would contact SOLitude and indicated he believed it reasonable to hold them 50% responsible. On motion by Walsh, seconded by Carol Vaughan, with all in favor, the Board accepted the unaudited financial statements.
No dollar amounts for the General Fund surplus were specified in the meeting record. Adams noted the ICS account is being opened to invest surplus funds for the district; staff will report back with details as accounts are finalized.
