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Board accepts unaudited Aug. 31 financials, moves surplus into BankUnited ICS account
Summary
Heritage Pines supervisors accepted the unaudited financial statements as of Aug. 31, 2024 and approved opening a BankUnited Insured Cash Sweep account to invest General Fund surplus funds; the board also asked District Manager to pursue potential compensation from SOLitude for poor performance.
District Manager Chuck Adams presented the unaudited financial statements as of Aug. 31, 2024 and said the CDD is opening a BankUnited Insured Cash Sweep (ICS) account to invest surplus General Fund funds.
Supervisor Michael Walsh asked whether SOLitude could be asked to compensate the CDD for poor performance; Adams said he would contact SOLitude and thought it reasonable to hold them 50% responsible. On a motion by Mr. Walsh, seconded by Ms. Vaughan, the Board accepted the unaudited financial statements unanimously.
Board action included no change to assessments at the meeting; staff will proceed with the ICS investment and follow up with SOLitude about potential compensation.
