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Boca Raton CRA reports $12.4M increase in net position and receives clean audit
Summary
The Boca Raton Community Redevelopment Agency received its fiscal‑year 2023 financial statements showing higher tax‑increment revenues and a $12.4 million increase in net position; external auditors issued an unmodified (clean) opinion and reported no material control deficiencies.
The Boca Raton Community Redevelopment Agency received its annual financial statements and compliance report at the April 24 meeting, where staff and the city’s external auditors described improved fiscal results and issued a clean audit opinion.
Jim Zervos, the CRA’s financial services director, told the board the agency ended the fiscal year with just over $127 million in total assets and a net position increase of about $12.4 million compared with 2022. He said tax‑increment revenue rose by roughly $3.81 million—driven by a 22.3% increase in assessed…
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