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Troutdale Urban Renewal Agency receives FY2024–25 impact report; auditors issue clean opinion
Summary
The Troutdale Urban Renewal Agency received its annual financial impact report for the fiscal year ending June 30, 2025, and staff said auditors issued a clean, unmodified opinion. The report outlines tax-increment financing use, maximum indebtedness and required distribution to overlapping taxing districts.
The Troutdale Urban Renewal Agency received its annual financial impact report for the fiscal year ending June 30, 2025, and staff reported auditors issued a clean, unmodified opinion.
Eric, a city staff member presenting the audit and report, said the agency is treated as a component unit of the city for GASB and audit purposes and that the auditors issued a “clean audit opinion with no reservations.” The presentation explained that the state requires a separate audit for urban renewal agencies and the agency’s financial statements were included in the city’s overall financial reporting.
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