2) government-wide and fund financia l statements, 3) notes to the financial statements, and 4) required

Community Redevelopment Agency · 2026-04-14 · agenda_item

The Titusville Community Redevelopment Agency (CRA) is currently undergoing a financial review and reporting process. This process involves the preparation and review of government-wide and fund financial statements, notes to these statements, and required supplementary information. The CRA's governmental activities focus on reinvesting within the community redevelopment district. The agency reported an ending general fund balance of $1,573,807 for the fiscal year ending September 30, 2025. The CRA's budget included amendments for additional capital expenditures totaling $752,624. This item is currently under review as part of the agency's financial reporting cycle. The work involves financial analysis, auditing, and reporting, with potential for future capital expenditures. Local contractors, suppliers, and service providers interested in future community redevelopment projects should monitor the CRA's activities and financial reports for upcoming opportunities. Early engagement with the agency may provide insight into future project scopes and timelines.

ending general fund balance

1,573,807 $

change in fund balance

335,732 $

additional capital expenditures

752,624 $

actual expenditures less than final budget

1,053,467 $

capital assets, not being depreciated

200,000 $

capital assets, being depreciated, net

272,893 $

total assets

1,608,342 $

accounts payable and accrued liabilities

34,535 $

total liabilities

34,535 $

restricted for community redevelopment

1,100,913 $

net investment in capital assets

472,894 $

total fund balance / net position

1,573,807 $

taxes revenue

1,141,063 $

intergovernmental revenue

1,336 $

investment income

46,110 $

total revenues

1,188,509 $

community development expenditures

443,444 $

capital outlay expenditures

275,827 $

depreciation expense

12,557 $

total expenditures / expenses

731,828 $

excess of revenues over expenditures

456,681 $

transfers out to primary government

120,949 $

net change in fund balance / net position

335,732 $

fund balance / net position, beginning of year

1,238,075 $

fund balance / net position, end of year

1,573,807 $

original budget

1,020,114 $

final budget

1,772,738 $

variance with final budget

1,053,467 $

net change in fund balances

348,289 $

beginning fund balance

752,624 $

ending fund balance

1,100,913 $

capital asset restatements

12,522 $

net position - 09/30/24, as restated

1,238,075 $

buildings

30 years