[Call To Order ] [00:00:04] GOOD EVENING. THE TIME IS NOW 630 AND I'LL CALL TO ORDER THE TOWN OF JUPITER COMMUNITY REDEVELOPMENT AGENCY MEETING OF TUESDAY, APRIL 21ST. WE HAVE A ROLL CALL, PLEASE. CHAIR KORETSKY. HERE. VICE CHAIR CHOI. HERE. COMMISSIONER DELANEY. HERE. COMMISSIONER GEISINGER. HERE. COMMISSIONER SUNDSTROM. HERE. EXECUTIVE DIRECTOR KITZERO. HERE. COMMISSION ATTORNEY BAIRD. HERE. DO WE HAVE ANY CITIZEN COMMENTS? NO, SIR. SEEING NONE, WE'VE GOT A PRESENTATION [1. FYE 2025 Audit Presentation Discussion and Findings – Moises Ariza, CPA Presenting. ] TONIGHT ON THE AUDIT DISCUSSION AND FINDINGS. GOOD EVENING. I'M BOARD OF COMMISSIONERS AND EXECUTIVE DIRECTOR OF THE TOWN OF JUPITER CRA. MY NAME IS MAURICE. I'M WITH THE FIRM OF CBIS CPAS, AND WE SERVE AS THE EXTERNAL AUDITOR FOR THE FISCAL YEAR ENDED SEPTEMBER 30TH, 2025. AND IF YOU WOULD LIKE TO FOLLOW ALONG, I'M GOING TO MAKE REFERENCE TO CERTAIN PAGES OF THE DOCUMENT, WHICH WERE INCLUDED AS PART OF THE AGENDA'S PACKAGE. THE FIRST ONE, YOU HAVE A COPY OF THE FINANCIAL STATEMENT. THE FIRST PAGE, IF YOU'D LIKE TO FOLLOW ALONG, IS PRINTED PAGE ONE. AND THAT'S OUR INDEPENDENT AUDITS REPORT. THE FIRST SECTION MAKES REFERENCE TO WHAT WE AUDITED, WHICH IS THE FINANCIAL STATEMENTS OF THE TOWN OF JUPITER COMMUNITY REDEVELOPMENT AGENCY FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025. THE SECOND PARAGRAPH IS OUR OPINIONS PARAGRAPH, WHICH IN TERMS OF A FINANCIAL EXTERNAL AUDIT, WE CONCLUDE BY PROVIDING AN OPINION ON THE FINANCIAL STATEMENTS. SO AS MENTIONED HERE, IN OUR OPINION, THE FINANCIAL STATEMENTS OF THE CRA PRESENT FAIRLY IN ALL MATERIAL RESPECTS THE FINANCIAL POSITION AS OF FISCAL YEAR ENDED SEPTEMBER 30TH, 2025. IN ESSENCE, IT'S A CLEAN OPINION AND IT'S THE ONLY OPINION YOU WANT TO BE ASSOCIATED WITH, ALSO KNOWN AS AN UNMODIFIED OPINION. THE SECOND PARAGRAPH OR SUBSECTION OF THIS PAGE ONE MAKES REFERENCE TO WHAT AUDIT STANDARDS WE FOLLOW AS THE EXTERNAL AUDITOR. THE FIRST ONE BEING UNITED STATES UNITED EXPECTED AUDITING STANDARDS, KNOWN AS U.S. GAS, AND THE SECOND ONE BEING GOVERNMENT AUDITING STANDARDS, MENTIONED OR KNOWN AS YELLOW BOOK. FOLLOWING THE AUDITOR'S REPORT, IF YOU TURN WITH ME TO PRINTED FOUR, YOU REACH THE MANAGEMENT DISCUSSION ANALYSIS. WHAT MANAGEMENT DID HERE IN THESE FIVE PAGES IS THEY COMPARED PRIOR YEAR FISCAL YEAR 2024 VERSUS FISCAL YEAR 2025. AS NOTED ON PAGE SIX. THERE'S AN INCREASE IN CAPITAL ASSETS DUE TO THE ACQUISITION OF INFRASTRUCTURE. AND THEN IN TERMS OF REVENUE, TAX INCREMENT REVENUE INCREASED APPROXIMATELY 9%, AND THAT'S NOTED ON PRINTED PAGE 7. LAST YEAR, TAX INCREMENT REVENUE WAS JUST NORTH OF $3 MILLION. THIS YEAR, WE'RE JUST SHY OF $3.4 MILLION IN TERMS OF THE CRA. FOLLOWING THE PRINTED PAGE... FOLLOWING THE MD&A, WE REACHED THE FINANCIAL STATEMENTS. IF YOU WANT TO FOLLOW ALONG, I'M PRINTING TO PAGE 10. ON PRINTING TO PAGE 10, YOU REACH THE STATEMENT OF NET POSITION, NOTING THE LARGEST ASSETS OF THE CRA IS OF THE CASH ON HAND, AS WELL AS ITS CAPITAL ASSETS, HIGHLY COMPOSED OF LAND. AND THEN THE LARGEST LIABILITY OF THE CRA IS AN ADVANCE DUE TO THE TOWN OF JUPITER, JUST NORTH OF $1.5 MILLION AS OF YEAR-END SEPTEMBER 30TH, 2025. ENDING EQUITY, ALSO KNOWN AS NET POSITION IN TERMS OF GOVERNMENT ACCOUNTING, $10 MILLION OF THAT IS INVESTED IN CAPITAL ASSETS, AND THE REMAINING AMOUNT OF $2 MILLION IS RESTRICTED FOR THE USE OF ALLOWABLE ACTIVITY UNDER FLORIDA LAW. FOLLOWING PRINTED PAGE 10, THE STATEMENT OF ACTIVITIES NOTATES THE EXPENSES, INFLOWS, AND OUTFLOWS OF THE CRA DURING FISCAL YEAR. THE FIRST COLUMN REFLECTS... THE FUNCTION AND PROGRAM AND THEN THE TOTAL EXPENDITURES TO RUN THE CRA WERE OR INCURRED WERE 1.5 MILLION. ENDING TOTAL GENERAL REVENUES WERE JUST SHY OF I MENTIONED BEFORE 3.4 MILLION. YOUR ENDING CHANGE IN NET POSITION WAS 1.9 MILLION. WE STARTED THE FISCAL YEAR FOR THE CRA OPEN EQUITY OF 10.1 MILLION. YOU CONSIDER THE POSITIVE CHANGE IN NET POSITION OF 1.9 MILLION AND THEN OUR ENDING NET POSITION. EQUATES TO 12.1 MILLION. THAT ALSO AGREES TO THE FIRST PAGE ON PRINTED [00:05:01] PAGE 10. I HAD MENTIONED THAT THE LARGEST LIABILITY OF THE CRA IS THAT ADVANCE THAT OCCURRED SEVERAL YEARS AGO FROM THE TOWN OF JUPITER. WE HAVE A FOOTNOTE ON THAT ON PRINTED PAGE 23, WHERE WE MENTIONED THAT SEVERAL YEARS AGO, THE GENERAL FUND HAD LOANED OR ADVANCED $7.6 MILLION TO THE CRA TO COVER OPERATING COSTS. OF THAT, AS I MENTIONED, $1.5 MILLION REMAINS ON... STANDING. AND AS NOTED ON PRINTED PAGE 23, THAT LOAN OR ADVANCE WILL BE PAID OFF BY THE END OF FISCAL YEAR 2027. FOLLOWING THE FOOTNOTES, WE HAVE OUR YELLOW BOOK REPORT. YOU WANT TO TURN WITH ME TO PRINTED PAGE 28. ON PRINTED PAGE 28, WE EXPLAIN TO THE READER WHAT AN INTERNAL CONTROL DEFICIENCY IS. THERE'S AN EXPLANATION OF... THE DIFFERENCES BETWEEN A MATERIAL WEAKNESS AND A SIGNIFICANT DEFICIENCY, AND AS NOTATED ON PRINTED PAGE 28 AT THE BOTTOM, WE HAVE NO DEFICIENCIES TO REPORT. IF WE HAVE DEFICIENCIES TO REPORT, THIS WILL BE THE TOOL THAT WE USE FOR REPORTING THOSE DEFICIENCIES. PRINTED PAGE 29 IS OUR REPORT ON COMPLIANCE. WE MENTIONED THAT AS PART OF OUR TEST, AS PART OF OUR AUDIT, WE DID TEST COMPLIANCE WITH CERTAIN PROVISIONS OF LAWS, REGULATIONS, AND CONTRACTS. AS YOU MAY KNOW, UNDER FLORIDA LAW, FLORIDA STATUTE 163, IT DICTATES WHAT TYPE OF ACTIVITIES THE CRA COULD TRANSACT IN. SO ONE OF THE TESTS THAT WE DO IS TO ENSURE THAT THE EXPENDITURES AND EXPENSES THAT THE CRA IS INCURRING ARE IN LINE WITH FLORIDA STATUTE 163. AND AS MENTIONED HERE, OUR RESULTS OF OUR TEST DISCLOSE NO INSTANCES OF NONCOMPLIANCE. FOLLOWING THAT, WE HAVE THE MANAGEMENT LETTER TO THE AUDITOR GENERAL. JUST TO HIGHLIGHT, ONE OF THE REQUIRED DISCLOSURES OR INFORMATION THAT THE AUDITOR GENERAL WOULD LIKE TO SEE IS NOTATED ON PRINTED PAGE 32. ON PRINTED PAGE 32, THE CRA IS REQUIRED TO DISCLOSE TO THE AUDITOR GENERAL ANY CONSTRUCTION PROJECT WITH A TOTAL COST OF AT LEAST $65,000 THAT HAS BEEN APPROVED BY THE AGENCY, AS WELL AS THE TOTAL ACTUAL EXPENDITURES TO DATE. AND AS MENTIONED THERE, THERE'S FIVE PROJECTS THAT EXCEEDED THAT THRESHOLD. THE PARK PROJECT, JUPITER BEACH ROAD PROJECT, LOVE STREET SIDEWALK, SHORELINE STABILIZATION PROJECT, AND RIVER WALK GRAVITY WALL PROJECT. SO IT SHOWS YOU ANY CONSTRUCTION THAT WAS BUDGETED OR PROJECT THAT WAS BUDGETED OVER $65,000 AND HOW MANY EXPENDITURES ARE TO DATE FOR THOSE PARTICULAR PROJECTS. THIS REPORT WAS RELEASED. TO THE BOARD ON MARCH 31ST. WE ALSO RELEASED OUR COMMUNICATION LETTER TO THOSE CHARGED WITH GOVERNANCE NOTATING WE HAD NO FINDINGS OR DEFICIENCIES TO REPORT. THIS REPORT IS POSTED ON THE CRE'S WEBSITE. IT IS ALSO SUBMITTED TO THE FLORIDA AUDITOR GENERAL. THE FLORIDA AUDITOR GENERAL POSTS THIS FINANCIAL STATEMENT FOR THE FISCAL YEAR IN THE 2025 AND THE LAST FIVE FISCAL YEARS AS WELL. SO IT'S AVAILABLE FOR THE PUBLIC. THAT SUMMARIZES THE FINANCIAL STATEMENTS OF THE TOWN OF JUPITER CRA, AND I'LL OPEN UP TO ANY QUESTIONS YOU MAY HAVE. ANY QUESTIONS ON THE DAIS? JUST A GENERAL HOUSEKEEPING QUESTION. HOW LONG HAVE YOU BEEN DOING THE AUDIT FOR THE TOWN OF JUPITER? I BELIEVE THE RFP WAS ISSUED THREE YEARS AGO, AND WE STARTED LAST YEAR. WE DID HAVE A CHANGE IN, THERE WAS A RESTRUCTURE WITHIN THE FIRM, SO OUR NAME DID CHANGE. WE DID DO BUSINESS UNDER THE NAME OF MARKHAM, AND WE HAD A RESTRUCTURE, AND NOW WE BECAME CBIS CPAS. OKAY, AND IS A FULL AUDIT DONE EVERY YEAR? YES, EVERY YEAR YOU'RE REQUIRED TO HAVE A FINANCIAL STATEMENT AUDIT. THE FINANCIAL STATEMENT AUDIT IS REQUIRED TO BE ISSUED SEPARATE AND APART FROM THE TOWN FOR THE CRA. THE CRA INFORMATION IS ALSO INCORPORATED INTO THE TOWN'S ACFR, ANNUAL COMPREHENSIVE FINANCIAL REPORT. IT'S REFLECTED AS. A SPECIAL REVENUE FUND BUT YES THIS AUDIT IS REQUIRED ON AN ANNUAL BASIS OKAY THANK YOU YOU'RE WELCOME ANY OTHER QUESTIONS SEEING NONE ANY COMMENTS UM I JUST WOULD LIKE TO COMMENT FIRST OF ALL I APPRECIATE I LIKE THE WAY TO ME IT'S HELPFUL THE WAY YOU QUICKLY QUICKLY WALK US THROUGH THE DIFFERENT PAGES UH I'M SURE ALL OF US REVIEWED IT IN ADVANCE UH BUT IT DOES HELP TO HIGHLIGHT SO I APPRECIATE I MEAN I'VE SEEN A LOT OF THESE DIFFERENT PRESENTATIONS AND I THINK THAT'S A GOOD WAY TO DO IT, SO THANK YOU. AND WHILE I APPRECIATE ONCE AGAIN GETTING A CLEAN REPORT, I START TO WORRY BECAUSE, YOU KNOW, I WANT TO MAKE SURE THAT OUR FINANCE DEPARTMENT AND THE TEAM THAT WORKS WITH THE GOAL OF GETTING A CLEAN REPORT, I HOPE IF THE DAY COMES, [00:10:05] AND WE'VE HAD THEM BEFORE, THERE'S A FINDING. MR. REYNOLDS DOESN'T FEEL LIKE HE HAS TO JUMP OFF THE ROOF OR SOMETHING. I SAY THAT JESTINGLY BECAUSE I REALLY, IT'S INCREDIBLE THE TRACK RECORD THAT THEY'VE HAD ON A CLEAN REPORT. SO I WORRY THAT WHEN THE DAY HAPPENS, HE'S GOING TO FAIL. HE COULD FEEL LIKE WE FAILED. SO I JUST, I WANT TO JUST TEMPER THAT, RIGHT? ANYBODY ELSE COULD WEIGH IN, BUT THAT'S JUST MY OPINION ON THAT. I JUST EXPECT A CLEAN REPORT EVERY YEAR. NO, WE ALL DO. NO, WE ALL DO. IT'S JUST LIKE DEJA VU ALL OVER AGAIN. I REMEMBER HAVING SOME WHEN THE NEWS AND MANAGEMENT WERE... RESPONDS TO THE FINDINGS, YOU KNOW, SO I KNOW HOW THAT PROCESS WORKS. BUT THAT MUST HAVE BEEN A LONG TIME AGO. I'VE NEVER EXPERIENCED IT UP HERE. YEAH, WE HAVE THE AUDIT COMMITTEE AT 4 O'CLOCK TODAY. WE ALWAYS HAVE IT BEFORE THIS MEETING EACH YEAR. IT'S ONCE A YEAR, AND WHAT OUR AUDITOR SHARED WITH US IS THAT THEY'RE NOT SHY ABOUT SHARING FINDINGS. AND OF ALL OF THEIR MUNICIPALITIES THAT THEY AUDIT, SOMETIMES UP TO HALF OF THEM HAVE FINDINGS. SO THE FACT THAT WE HAVE HAD THESE CLEAN REPORTS FOR SO MANY YEARS REALLY SPEAKS HIGHLY. OF OUR FINANCE DIRECTOR AND TEAM. SO THANK YOU. AND YEAH, IT'S ALWAYS BEEN A REALLY GOOD EXPERIENCE. YEAH, AND I HAD THE BENEFIT AT THE INVITE OF A COUNSELOR, TO SIT IN ON THE AUDIT COMMITTEE, SO I HAD AN HOUR AND A HALF OPPORTUNITY TO GO THROUGH ALL THIS WITH THE AUDIT TEAM AND ALSO WITH OUR STAFF, SO A VERY THOROUGH REPORT, AND I REALLY APPRECIATE THE OUTCOME. GOOD JOB BY ALL AROUND, PARTICULARLY THE FINANCE DEPARTMENT. BUT WHEN YOU THINK ABOUT THE INCREDIBLE AMOUNT OF INFORMATION THAT'S IN HERE THAT GETS COMPILED OVER AN ENTIRE YEAR BY MANY PEOPLE, YOU KNOW, IT IS REALLY INCREDIBLE. AND I JUST, YOU KNOW, CAN'T OVEREMPHASIZE THAT. I'M GRATEFUL FOR THAT. SO, YEAH, I EXPECT A CLEAN REPORT. BUT I JUST WORRY ABOUT THE DAY BECAUSE I APPRECIATE COMMISSIONER SUNDSTROM WEIGHING IN ABOUT HOW FREQUENT NOT GETTING IT IS. YOU KNOW, SO THE GOAL IS. BUT ANYWAY, THANK YOU VERY MUCH. [2. March 17, 2026, CRA Meeting Minutes. ] COMMISSION, WE HAVE BEFORE US THE MINUTES OF THE MARCH 17 CRA MEETING. I DON'T SEE ANY CORRECTIONS. IF THERE ARE NONE, I'LL TAKE A MOTION AND A SECOND TO APPROVE THE MINUTES AS PRESENTED. SO MOVED. SECOND. MOTION AND A SECOND. ALL IN FAVOR SIGNIFY BY SAYING AYE. AYE. [CONSENT AGENDA ] MOTION CARRIES UNANIMOUSLY. ONE CONSENT AGENDA ITEM. IF THERE'S NOBODY WANTING TO... POLL THAT ITEM. I'D ASK FOR A MOTION AND A SECOND TO APPROVE THE CONSENT AGENDA CONSISTING OF CRA RESOLUTION 226. MOTION TO APPROVE CONSENT. SECOND. MOTION AND A SECOND. ALL IN FAVOR SIGNIFY BY SAYING AYE. AYE. MOTION CARRIES UNANIMOUSLY. MOVING ON TO REPORTS. COMMISSION ATTORNEY? NO REPORT. EXECUTIVE DIRECTOR? NO REPORT. ANY MEMBER OF THE COMMISSION? NO. SEEING THE TIME IS NOW 6:43 AND WE'LL ADJOURN THE MEETING. * This transcript was compiled from uncorrected Closed Captioning.