TO: CRA Board of Commissioners
FROM: Lori Hayward, Finance and Operations Director
THROUGH: Jeff Costello, CRA Executive Director
DATE: April 9, 2019
Title
CRA FINANCIAL REPORT - FEBRUARY 2019
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Recommended Action:
Recommendation
Receive and File.
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Background:
Attached are the February 2019 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 February:
1. CRA Administration Sources- Reimbursement-City (G/L #4700) - Reimbursements that total $135,156 included:
• NW/SW Neighborhood Sidewalk Project- $109,457
• Economic Development Staff - 1St Quarter (50%)- $25,699
2. West Atlantic Redevelopment- Project Development/Implementation (G/L #5120) - Payments totaling $31,266 were made for the following:
• PMG Associates, Inc- Economic impact report and analysis of the responses associated with the RFP for the SW 600-800 Blocks - CRA-owned West Atlantic Avenue properties- $28,800
• Hatcher Construction In-Kind Rent- $2,466
3. Redevelopment Sites-Maintenance (G/L #6303) - Payments totaling $20,184 were made to the following vendors for maintenance services:
• Rolling Door Industries, LLC- $12,690
• Sod Unlimited - $8,684
• Raymond Graves & Sons Construction- $475
• Carlson Fence- $274
• Waste Management Inc.- $231
• Island Air Conditioning - $200
• Miscellaneous - $130
• Journal Entry reclassifying expense to Economic Development Outreach/Communications for the West Atlantic Holiday Event in Dec 2018- ($2,500)
4. City Contractual Services- Housing Rehab Inspector- (G/L #7334) - A first quarter payment in the amount of $11,288 was made to the City of Delray Beach for the position.
5. Community Resource Enhancement-A-Guide Funding- (G/L #7376) - A-GUIDE payments totaling $256,250 were made to the following nonprofit organizations:
• OSS- $187,500
• Arts Garage- $68,750
6. Economic Development Initiative- Economic Development Incentives- (G/L #7415) - A first quarter payment in the amount of $16,250 was made to the Center for Technology, Enterprise & Development, Inc.
7. Economic Development Initiative- Warehouse/Arts Incubator- (G/L #7440) - Payments for the Arts Warehouse totaling $18,824 were made to the following:
• Salaries, Taxes and Benefits- $15,217
• Program Operations- $2,751
• Advertising & Communication - $196
• General & Administration- $660
Attachment(s): Exhibit A - January 2019 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