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CRA accepts FY25 audit; ending fund balance reported at $40.7 million
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Summary
The Jacksonville Beach CRA accepted its fiscal 2025 audited financial statements and independent auditor's report, which included an unmodified opinion and a combined ending fund balance of $40,737,349. The board approved the documents by roll call.
The Jacksonville Beach Community Redevelopment Agency unanimously approved its fiscal 2025 financial statements and independent auditor's report after a brief presentation by Ashley, the CRA chief financial officer.
Ashley told the board that "the city and the CRA received an unmodified opinion, which is the highest level of assurance that our auditors can provide," and that the CRA "complied with all requirements set forth" under the relevant state statute. She said the CRA's combined ending fund balance for the year was $40,737,349 and explained that fluctuations reflected market valuation of the agency's investment portfolio.
Board members commended long-term growth in taxable values in the central CRA district, with one member noting the central tax roll is approaching $1 billion and crediting sustained redevelopment efforts. After questions from board members about chart labeling and funded positions in the report, staff agreed to add clearer keys and to confirm whether two construction-related positions fell inside the FY25 reporting period.
The board moved to approve the audit and adopted the report by roll call vote.
