TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: August 15, 2018
Title
CRA FINANCIAL REPORT - JUNE 2018
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Recommended Action:
Recommendation
Receive and File.
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Background:
Attached are the June 2018 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 June:
1. Tax Increment Financing (TIF) - TIF-City of Delray Beach (G/L #4005) - A Payment in the amount of $30,504 was made to the City of Delray Beach as a result of a decrease in the final taxable value from the Palm Beach County Property Appraiser’s office.
2. Tax Increment Financing (TIF) - Palm Beach County (G/L #4010) - A Payment in the amount of $21,258 was made to the Palm Beach County as a result of a decrease in the final taxable value from the Palm Beach County Property Appraiser’s office.
3. Redevelopment Sites-Property Insurance (G/L #6310)- A payment in the amount of $21,138 was made to Florida Municipal Insurance Trust.
4. Economic Development Initiative- Warehouse/Arts Incubator- (G/L #7440) - Payments for totaling $10,165 were made to the following:
• Payroll & Benefits- $6,111
• Program Expenses- $3,011
• Office Expenses- $519
• Utilities-$449
• Business License- $75
Attachment(s): Exhibit A - June 2018 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