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CRA accepts FY2025 audit; auditors issue unmodified opinion
Summary
An independent auditor reported an unmodified opinion on the CRAs FY2025 financial statements, with roughly $15 million in revenues and $7.1 million in expenses; the board accepted the report 5-0.
The CRA accepted its fiscal year 2025 comprehensive financial report after an auditors presentation.
Kristin McAllister, partner with Warren Averett CPAs, presented the annual financial-statement audit required by the Florida Auditor General. McAllister reported an unmodified opinion and told the board the audit included compliance testing under applicable Florida statutes. "We did not identify any instances of noncompliance related to the CRA," McAllister said, and added the firm did not identify any material weaknesses, significant deficiencies, or instances of fraud or illegal acts.
McAllister summarized the basic financials: total CRA revenues were about $15,000,000 for the year, expenses approximately $7,100,000, yielding a net increase to net position of about $8,500,000, while the agency continues to report a long-term net position deficit of $42,000,000 attributable to long-term redevelopment obligations to be repaid with future tax increments. The board moved to accept the report and voted 5-0 in favor.
Ending: The auditor offered to answer additional questions and staff closed the audit item after the vote.
