Hi Leigh,
Great question — I actually had to test this out myself to make sure I had the answer.
I thought that the setting to limit the display of recurrences to one (Events > Settings) might carry over to the Community Events list as well, but that is actually not the case. In other words, there is no setting to limit the display that you are missing.
That’s an idea though, so I went ahead and took the liberty of creating a ticket in our system to look into it further. I can’t make any promises that we will build the feature, but this will certainly ensure that we have it on the radar for consideration.
Sorry for the bad news, but does this at least help answer your question? Please let me know.
Cheers,
Geoff