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Middletown CDA accepts clean 2024 audit, approves annual and PARIS reports and routine financial items
Summary
At a regular meeting, the Middletown Community Development Agency accepted a clean 2024 audit, approved its annual and PARIS reports for submission to New York State, and voted to accept routine financial statements and pay three bills. Staff reported recent property sales and the current portfolio inventory.
The Middletown Community Development Agency (CDA) voted unanimously to accept its 2024 audit, approve its annual report and PARIS submission to New York State, and to accept the agency's financial report and routine bills.
The audit presentation noted a clean opinion and no internal-control or compliance findings. "The CDA did receive a clean opinion, and there were no internal control weaknesses, findings, or compliance findings," said Ms. Monice, auditor with RBT, during the meeting.
The agency's executive staff also reported on recent property activity and the CDA's investment inventory. Executive Director Maria (identified in the meeting as Executive Director) said the agency closed on 84 Linden Avenue last week and that a new family has moved into that home. Staff also reported that Lafayette had been sold in 2024. According to the investment report, of 20 properties acquired over multiple years, 14 have been sold; one was under construction, one was pending, two were slated for rehabilitation and two properties remained to be determined (135 Linden Avenue and 28 Beacon Street). The agency recorded a total property value used for the PARIS submission as $127,003.13 as of Dec. 31, 2024.
Finance staff provided the agency's account balances through Feb. 28, 2025. Leonor, who presented the financial report, said the checking-account ending balance was $2,735.97 and the savings ending balance was $224,144.26. The operating debt ending balance was reported as $395,453.77. Year-to-date income was listed at $99,300, with year-to-date expenses of about $16,111.28.
In separate, routine votes with little debate, the CDA: - Approved committee minutes and the investment report in committee. - Accepted the audit and authorized staff to submit the 2024 audit to New York State. - Approved the annual report and the PARIS report and authorized submission to New York State. - Accepted the financial report as presented. - Approved payment of three bills: $976.22 to the City of Middletown (interest payment for rehab borrowing), an invoice for legal services related to 84 Linden, and an appraisal fee for 54 Washington Street.
All motions noted in the meeting passed on voice votes with board members responding "Aye." Where a mover and seconder were given on the record, motions were moved and seconded by board members identified in the meeting transcript (for example, the resolution accepting the 2024 audit was moved by Johnson and seconded by Massey). The meeting record did not list a roll-call vote tally for each item; votes were recorded by voice as "Aye" or described as unanimous.
The board chair closed the meeting after routine adjournment motions following the approvals.
Votes at a glance - Resolution to accept the 2024 audit and authorize submission to New York State: Approved. Mover: Johnson. Seconder: Massey. - Resolution to approve the annual report and PARIS submission and authorize submission to New York State: Approved. Mover: Johnson. Seconder: Ray. - Resolution to accept the Financial Report (through Feb. 28, 2025): Approved. Mover: Johnson. Seconder: Massey. - Motion to approve payment of listed bills (City of Middletown interest payment; legal services for 84 Linden; appraisal for 54 Washington Street): Approved. Mover: Johnson. Seconder: Ray.
(Where the transcript did not record a named mover/second, the meeting recorded voice approvals.)
