Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Heritage Pines accepts unaudited financials, to move surplus into BankUnited ICS account
Summary
The board accepted unaudited financial statements as of Aug. 31, 2024 and noted it is opening a BankUnited Insured Cash Sweep account to invest General Fund surplus; a supervisor asked staff to pursue compensation from SOLitude for poor performance.
The Heritage Pines board voted to accept the unaudited financial statements as of Aug. 31, 2024 and discussed placing surplus General Fund cash into a BankUnited Insured Cash Sweep (ICS) account.
District Manager Chuck Adams presented the statements and said the ICS account is being opened to invest surplus funds. Supervisor Michael Walsh raised the idea of asking SOLitude to compensate the district for poor performance; Mr. Adams said he would contact SOLitude and thought it reasonable to hold the vendor "50% responsible." On motion by Mr. Walsh and seconded by Ms. Vaughan, the board accepted the unaudited financial statements.
The board recorded that staff will follow up on contract performance and vendor accountability while proceeding with the ICS investment plan. No amounts for the surplus transfer were specified in the meeting.
