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Boca Raton CRA receives clean audit; staff says funds earmarked for downtown infrastructure
Summary
The Boca Raton Community Redevelopment Agency’s auditors issued an unmodified opinion on the CRA’s FY2023-24 financial statements; staff reported stronger net position and said excess funds will be directed to downtown infrastructure and the planned government campus.
The Boca Raton Community Redevelopment Agency on Monday received an unmodified ("clean") audit for the fiscal year ended Sept. 30, 2024, and staff told the board the agency's improved fund position will support downtown infrastructure projects, including work tied to a planned downtown government campus.
Deputy Chief Financial Officer Carlisha Jenkins presented the CRA’s audited statements, reporting total assets of about $143,000,000, including $47,300,000 in capital assets, $575,000 in total liabilities and $58,500,000 in deferred inflows related to Meisner Park ground leases. Jenkins said the CRA’s net position increased by about $16,700,000 over the prior year and the agency…
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