River Ridge reviews unaudited statements, plans $700,000 ICS transfer and sets FY2027 budget hearing
The Board accepted unaudited financial statements for March 31, 2026; staff said it will transfer $700,000 to an Insured Cash Sweep account and prepare term sheet material for a possible $2.5M construction loan. The FY2027 budget public hearing/adoption requires quorum and is scheduled May 26, 2026.
The full story
Mrs. Adams presented the Unaudited Financial Statements as of March 31, 2026. Mr. Blumenthal characterized the Insured Cash Sweep (ICS) account as beneficial and Mr. Adams said he "will transfer $700,000 to the ICS account, and look into obtaining information about long‑term Certificate of Deposits (CDs) to consider at the next meeting." The transfer was presented as a cash‑management step; the Board accepted the financial materials for informational purposes.
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