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DDA finance report flags roughly $4 million interfund transfer; staff to supply reconciliation
Summary
Forest Park Downtown Development Authority staff presented a year-end financial report and said about $4 million in interfund "due to/due from" entries must be moved from DDA accounts to the city general fund; staff said they will provide detailed backup ahead of an upcoming audit.
Director Williams presented the Downtown Development Authority(DDA) financial report, outlining the DDAoperating cash across three bank accounts and saying staff will supply documentation on a planned interfund transfer to reconcile amounts owed to the general fund.
The presentation showed operating cash and account balances and a summary of December activity. Director Williams told the board that accounting work is required to move roughly $4 million…
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