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Heritage Pines accepts unaudited financials, opens 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; supervisors also discussed potential vendor responsibility for performance issues.
At the Oct. 15 meeting, District Manager Chuck Adams presented the unaudited financial statements as of Aug. 31, 2024 and told the Board that "The BankUnited Insured Cash Sweep (ICS) account to invest the General Fund surplus funds is being opened." The Board voted to accept the unaudited statements.
Supervisor Michael Walsh asked whether SOLitude could be asked to compensate the CDD for poor performance; Adams said he will contact SOLitude and "thinks it is reasonable to hold them 50% responsible." The discussion did not produce a separate motion to pursue compensation; Adams said staff would follow up with the vendor and report back to the Board.
The Finance acceptance is recorded in the minutes; the ICS account is intended to invest surplus funds and staff listed follow-up items to ensure vendor reporting and pond-treatment documentation are available to supervisors.
