CRA AUDIT (AUDIT) (ss163.387)
Each community redevelopment agency with revenues or a total of expenditures and expenses in excess of $100,000 shall provide for a financial audit each fiscal year by an independent certified public accountant or firm. Each financial audit must be conducted in accordance with rules for audits of local governments adopted by the Auditor General. It should be noted that the Dania Beach CRA does not have a trust fund and is funded as a line item of the city budget. However, we still comply with this statute. The audit report must:
- Describe the amount and source of deposits into, and the amount and purpose of withdrawals from, the trust fund during such fiscal year and the amount of principal and interest paid during such year on any indebtedness to which increment revenues are pledged and the remaining amount of such debt..
- Include financial statements identifying the assets, liabilities, income, and operating expenses of the community redevelopment agency as of the end of such fiscal year.
- Include a finding by the auditor as to whether the community redevelopment agency is in compliance with statutory requirements for the use of trust funds.