TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: May 26, 2020
Title
CRA FINANCIAL REPORT - JANUARY 2020
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Recommended Action:
Recommendation
Receive and File.
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Background:
Attached are the January 2020 Financial Statements [1] Statement of Net Assets and [2] Statement of Activities with Budget vs. Actual (YTD).
Below are highlights of significant activities that occurred during the month of January:
1. Tax Increment Financing - TIF- City of Delray Beach (G/L #4005) - Fiscal year 2019-2020 revenue in the amount of $13,865,913 was received from the City of Delray Beach.
2. Reimbursement-Other (G/L #4750) - reimbursements totaling $29,974 were received for the following:
• DBCLT reimbursement to the CRA for property insurance for Palm Manor apartments and the SW 12th Avenue Duplexes- $23,150
• DBCLT reimbursement to the CRA for property taxes for Palm Manor apartments and the SW 12th Avenue Duplexes- $4,235
• Housing Authority reimbursement to the CRA for property taxes for the LaFrance and Carolyn Quince apartments- $2,589
3. Downtown-DB-Master Plan- Transportation Services (G/L #5230) - Payments totaling $200,687 for transportation services were made as follows:
• Freebee- $96,927
• First Transit- $102,821
• Miscellaneous- $939
4. Redevelopment Sites-Property Insurance (G/L #6310) - A payment in the amount of $27,745 was made to Florida Municipal Insurance Trust.
5. Grant Programs- Site Assistance Grant- (G/L #7306) - A payment in the amount of $27,442 was made for a grant awarded to Studio 404 and a journal entry was made to adjust accounts payable for ($1,400).
6. Administration/Operations- Capital Outlay (G/L #8405) - Payments totaling $44,269 were made for the following services:
• House Mover- $21,570
• Carpentry- $14,670
• Fire & Security Alarm- $6,923
• Miscellaneous- $1,106
Attachment(s): Exhibit A - January 2020 Financial Statements
CRA Attorney Review:
N/A
Finance Review:
Reviewed and prepared by Lori Hayward, CRA Finance & Operation Director.
Funding Source/Financial Impact:
N/A
Timing of Request:
N/A