Are you ready? Did you know CRA Annual Reports are due March 31, 2013?
Here is a short summary of the requirements in Chapter 163, Part III.
S. 163.356(3)(c), Florida Statutes
“The governing body of the county or municipality shall designate a chair and vice chair from among the commissioners… An agency authorized to transact business and exercise powers under this part shall file with the governing body, on or before March 31 of each year, a report of its activities for the preceding fiscal year, which report shall include a complete financial statement setting forth its assets, liabilities, income, and operating expenses as of the end of such fiscal year. At the time of filing the report, the agency shall publish in a newspaper of general circulation in the community a notice to the effect that such report has been filed with the county or municipality and that the report is available for inspection during business hours in the office of the clerk of the city or county commission and in the office of the agency.”
1 Produce an annual report (can be very basic, i.e. letter with one page attached, or a four color brochure)
2 Include end of fiscal year financial statement with assets, liabilities, income, operating expenses
3 Include report of activities
4 Other Information Suggested by FRA from the last fiscal year (Oct 1, 2011-Sept 30, 2012)
· How much money came into the trust fund from which taxing entities
· Projects finished, started, planned
· Related costs of the projects
· Description of the CRA area(s) and any changes over last year
· Jobs created if applicable
· Construction projects generated by CRA
· Dollars added to the tax base if available
· CRA history as appropriate
5 Take out ad in local newspaper that this information is available at the CRA and clerk’s office
6 Recommended (not required): email/mail the annual report to taxing entities who contribute to your CRA trust fund with a cover letter stating who to contact for more information.