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Port Canaveral Authority accepts FY25 audit and hears financial and capital-project updates including $10M CT5 change order
Summary
The board accepted a clean FY25 audit from RSM, heard that operating revenues are materially ahead of budget driven by cruise activity, and reviewed capital projects including a nearly $10 million change order to accelerate completion of Cruise Terminal 5.
The Port Canaveral Authority accepted the fiscal year 2025 audit as presented by audit partner Anil Harris of RSM at the Feb. 26 meeting, and commissioners approved related financial items and consent-agenda projects by unanimous votes.
Anil Harris told the board the audit field work was substantially complete and that the firm expects an unmodified ("clean") opinion. He noted adoption of new GASB standards that required a restatement for compensated absences but said the restatement was an accounting standard change rather than an operational deficiency; auditors reported no disagreements with management and no…
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