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Idaho Falls redevelopment agency accepts unmodified audit showing $9.2M deficit, new developer agreement noted
Summary
The Idaho Falls Redevelopment Agency voted to accept an unmodified audit for the year, which showed a roughly $9.2 million deficit and $3.1 million in cash and investments; auditors also highlighted a grant participation agreement allowing up to $2.5 million in developer reimbursements for a Snake River–adjacent site.
The Idaho Falls Redevelopment Agency voted to accept a clean (unmodified) 2025 audit at its April meeting, after a staff presentation and roll-call approval.
Auditor Andrew of Red and Company told the board, "the financial statements ... present fairly in all material respects," and walked the agency through key figures: a year-end deficit of about $9,200,000 (a $1.9 million improvement from the prior year) and total cash and investments of $3,100,000 (an increase of $405,000).
The audit also documented the agency’s long-term…
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