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Forest Park URA reviews February 2025 financials; staff explains loan transfers and SPLOST handling
Summary
Finance staff presented the February 2025 URA financial report on March 13, including bank balances, transfers related to debt service, Georgia Fund 1 totals, and SPLOST-derived transfers used to cover loan payments.
City finance staff presented the Urban Redevelopment Authority's February 2025 financial report at the March 13 URA meeting, summarizing account balances, transfers for debt service and the status of funds held for loan repayment.
The presenter, identified in the meeting as Jay, showed two main URA checking accounts and a Georgia Fund 1 balance. Jay reported a bank account ending balance of about $3,000,007 and a second account ending balance of approximately $3,366,004.94. He also reported a Georgia Fund 1 balance of roughly $4,300,002.76 and noted reinvestments…
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