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Toledo URA board accepts clean FY 2024–25 audit
Summary
The Toledo Urban Renewal Agency board voted unanimously to accept the FY 2024–25 financial audit, which the contracted auditor described as a "clean audit" and noted a healthy fund balance and proper documentation of transfers.
The Toledo Urban Renewal Agency board voted to accept the agency’s FY 2024–25 financial audit after the contracted auditor reported no material issues.
Teresa Hanford of Hanford and Associates told the board the URA received a "clean audit this year," citing a healthy fund balance and documentation showing that transfers used URA dollars for allowable projects. "Everything was really good, especially with all the turnover that happened this year," she said.
Staff told the board that state law requires the board to formally accept the audit. Director (speaker 5) moved to approve Resolution URA11 to receive the FY 2024–25 audit; the motion was seconded and passed on a roll-call vote with the directors present voting yes.
The auditor noted she tested allowability on transfers and reviewed files to confirm projects were within the URA plan. Board members praised finance staff for maintaining clear documentation through a year of turnover. The board did not request further action beyond formally receiving the audit.
