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CRA approves minutes, accepts FY2024 audit, waives $566,629.10 TIF penalty and accepts annual report
Summary
At its March 24 meeting, the Jacksonville Beach Community Redevelopment Agency approved the Feb. 24 minutes, accepted the FY2024 financial statements and independent auditor’s report (clean opinion), voted to waive a $566,629.10 late-payment penalty related to tax-increment financing revenues, and accepted the CRA’s FY2024 annual report.
The Jacksonville Beach Community Redevelopment Agency on March 24 approved minutes, accepted its FY2024 financial statements and independent auditor’s report, voted to waive a $566,629.10 penalty for a late tax-increment financing (TIF) payment, and accepted the agency’s FY2024 annual report.
Audit and finances: Ashley, finance staff, summarized the FY2024 financial statements and said auditors issued an unmodified (clean) opinion when they presented to city council on March 3. She told the CRA the fund balance at the end of FY2024 was $44,600,000 and that the balance is restricted to projects underway or beginning in the near term. “We received a clean or unmodified audit opinion,” Ashley said, and staff recommended acceptance of the audit.
The CRA approved the audit on a voice/roll-call vote.
Waiver of…
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