HomeMy WebLinkAbout06-02-2026 Agenda PacketFIFTY
WEST
OCOEE COMMUNITY REDEVELOPMENT AGENCY
Ocoee Commission Chambers
1 N. Bluford Avenue
Ocoee, Florida
5:00 PM
CRA REGULAR MEETING
• CALL TO ORDER
Roll Call and Determination of Quorum
• PUBLIC COMMENTS
• OLD BUSINESS
• NEW BUSINESS
1. Approval of Minutes of the March 3, 2026, Regular CRA Meeting
2. Fiscal Year 2025 Audit and Annual Financial Report Presentation
3. Fiscal Year 2026 Budget Amendment
• MISCELLANEOUS
1. Project Updates
• BOARD COMMENTS
•ADJOURNMENT
NOTICE: IN ACCORDANCE WITH FLORIDA STATUTE 286.0105: ANY PERSON WHO DESIRES TO APPEAL
ANY DECISION AT THIS MEETING WILL NEED A RECORD OF THE PROCEEDINGS AND FOR THIS
PURPOSE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE WHICH
INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS BASED. IN ACCORDANCE WITH
FLORIDA STATUTE 286.26: PERSONS WITH DISABILITIES NEEDING ASSISTANCE TO PARTICIPATE IN ANY
OF THESE PROCEEDINGS SHOULD CONTACT THE OFFICE OF THE CITY CLERK, 1 N. BLUFORD AVENUE,
OCOEE, FL 34761, (407) 905 -3105, 48 HOURS IN ADVANCE OF THE MEETING.
Page 1 of 50
FIFTY
WEST
OCOEE COMMUNITY REDEVELOPMENT AGENCY
Ocoee Commission Chambers
1 N. Bluford Avenue
Ocoee, Florida
March 3, 2026 MINUTES 5:00 PM
CRA REGULAR MEETING
• CALL TO ORDER
Chair Koovakada called the Community Redevelopment Agency Board to order at 5:00 PM in
the Commission Chambers of City Hall. Recording Clerk Justice called roll and declared a
quorum present.
Roll Call: Chair Koovakada, Vice -Chair Oliver, Member Kennedy, Member Johnson, Member
Wilsen, and Member Firstner
Absent: None
Also Present: City Manager Shadrix, Assistant City Manager Rumer, CRA Administrator Vaca,
City Attorney Geller, and Recording Clerk Justice
• PUBLIC COMMENTS
No speaker reservation forms were received.
• OLD BUSINESS - None
• NEW BUSINESS
Development Services Director Introduction
City Manager Shadrix introduced new Development Services Director Nick Lepp and gave a
brief overview of his 20-year history of collaborating with the City of Ocoee and CRA in various
roles.
2. Approval of Minutes of the December 2, 2025, Regular CRA Meeting
Member Wilsen, seconded by Member Johnson, moved to approve the CRA Regular
Meeting Minutes of December 2, 2025, as presented. Motion carried unanimously.
• MISCELLANEOUS
Annual Report Presentation
CRA Administrator Vaca presented the 2025 Annual Report, titled "Enhancing How We Live,
Work & Play". She provided a brief overview of key statistics and highlights, including awards,
accomplishments and new businesses within the CRA, as well as former CRA Administrator
Page 2 of 50
CRA Regular Meeting
March 3, 2026
Ginger Corless' retirement. She also informed the Board that the annual report would be
published to the CRA website by the end of March and submitted to Orange County in
compliance with § 163.371, Florida Statutes.
Member Kennedy inquired if the Board would receive hard copies of the Annual Report. CRA
Administrator Vaca addressed his question.
2. Redevelopment Plan Update
CRA Administrator Vaca announced that County leadership chose to defer the decision to
expand and extend the Ocoee CRA until after the 2026 Florida legislative session. She further
explained what Staff has worked on in the interim, and next steps for the plan.
City Manager Shadrix noted that Universal Studios is also trying to expand a CRA with Orange
County.
Chair Koovakada asked about the potential timeline for the plan. CRA Administrator Vaca
addressed his inquiry.
3. Project Updates
CRA Administrator Vaca updated the Board with the following:
1) Duke Energy has started their design process for the underground work from SR 50 to
Delaware Street for the Bluford Avenue Streetscape. Staff are evaluating a phased
approach to complete the portion from Delaware Street to Geneva Street (City), and from
Geneva Street to Maine Street (CRA).
Member Wilsen commented on the delays with 02B Kids and inquired about a time frame for
completion. Assistant City Manager Rumer responded to her question.
City Manager Shadrix circled back to the Bluford Avenue Streetscape and advised that the City
has an appropriation request making its way through the State budget, with respect to hurricane
hardening and resiliency, to provide funding for the Duke Energy undergrounding of power.
Vice -Chair Oliver asked if there would be any road closures that would affect school access
along Bluford Avenue when the construction takes place. CRA Administrator Vaca addressed
his inquiry.
CRA Administrator Vaca reminded the Board of their next meeting date.
•ADJOURNMENT
The meeting was adjourned at 5:17 PM
2 1 P
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CRA Regular Meeting
March 3, 2026
Attest:
FTIMUS-101TIO
Miranda Justice, Recording Clerk Chair
3 1 P a g e
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ANNUAL FINANCIAL REPORT
Page 5 of 50
FINANCIAL STATEMENTS
AND
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
SEPTEMBER 30, 2025
TABLE OF CONTENTS
Independent Auditor's Report..................................................................................................................1-3
Management's Discussion and Analysis...................................................................................................4-7
Financial Statements
Statementof Net Position......................................................................................................................... 8
Statementof Activities.............................................................................................................................. 9
Balance Sheet - Governmental Funds.....................................................................................................10
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Governmental Funds..................................................................................................11
Statement of Revenues, Expenditures, and Changes in
Fund Balances - Budget to Actual.........................................................................................................12
Notes to Financial Statements............................................................................................................13-19
Other Reports
Independent Auditor's Report on Internal Control Over
Financial Reporting and on Compliance and Other Matters
Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards......................................................................... 20-21
Independent Accountant's Report on Compliance with
Section 163.387(6) and (7), Florida Statutes........................................................................................22
Independent Accountant's Report on Compliance with
Section 218.415, Florida Statutes......................................................................................................... 23
ManagementLetter............................................................................................................................24-26
Page 6 of 50
PURVIs GRAY
INDEPENDENT AUDITOR'S REPORT
Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
Opinions
We have audited the accompanying financial statements of the governmental activities and the major
fund of the Ocoee Community Redevelopment Agency (the CRA), a component unit of the City of Ocoee,
Florida (the City), as of and for the year ended September 30, 2025, and the related notes to the financial
statements, which collectively comprise the CRA's financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the CRA as of September 30, 2025, and the respective changes in financial
position and the respective budgetary comparison information for the year then ended in accordance
with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Our responsibilities under those standards are further described in the Auditor's Responsibilities
for the Audit of the Financial Statements section of our report. We are required to be independent of the
CRA, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements
relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America; and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, management is required to evaluate whether there are conditions
or events, considered in the aggregate, that raise substantial doubt about the CRA's ability to continue as
a going concern for twelve months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
CERTIFIED PUBLIC ACCOUNTANTS
Gainesvifle I Ocala I Tallahassee I Sarasota I Orlando I 'hnapa
rvisgray.om
Members of Amrfc n and Florida Institutes of'I erfif ed Public Accountants
1
Page 7 of 50
Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
INDEPENDENT AUDITOR'S REPORT
and, therefore, is not a guarantee that an audit conducted in accordance with generally accepted auditing
standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Misstatements are considered material if there is a substantial likelihood that, individually or in the
aggregate, they would influence the judgment made by a reasonable user based on the financial
statements. In performing an audit in accordance with generally accepted auditing standards and , we:
■ Exercise professional judgment and maintain professional skepticism throughout the audit.
■ Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
■ Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the CRA's internal control. Accordingly, no such opinion is expressed.
■ Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
■ Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the CRA's ability to continue as a going concern for a reasonable period of
time.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control -related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management's
discussion and analysis, as listed in the table of contents, be presented to supplement the basic financial
statements. Such information is the responsibility of management and, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board, who considers it to be
an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We have applied certain limited procedures to the required
supplementary information in accordance with auditing standards generally accepted in the United States
of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management's responses to our inquiries, the basic
financial statements, and other knowledge we obtained during our audit of the basic financial statements.
We do not express an opinion or provide any assurance on the required supplementary information because
the limited procedures do not provide us with sufficient evidence to express an opinion or provide any
assurance.
2
Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
INDEPENDENT AUDITOR'S REPORT
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued a report dated March 25, 2026,
on our consideration of the CRA's internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts and grant agreements, and other
matters. The purpose of that report is solely to describe the scope of our testing of internal control over
financial reporting and compliance and the results of that testing, and not to provide an opinion on the
effectiveness of the CRA's internal control over financial reporting or on compliance. That report is an
integral part of an audit performed in accordance with Government Auditing Standards in considering the
CRA's internal control over financial reporting and compliance.
March 25, 2026
Ocala, Florida
3
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
As management of the City of Ocoee, Florida Community Redevelopment Agency we offer readers of the
City of Ocoee Community Redevelopment Agency's financial statements this narrative overview and
analysis of the financial activities of the City of Ocoee Community Redevelopment Agency for the fiscal
year ended September 30, 2025.
Financial Highlights
■ The assets of the City of Ocoee Community Redevelopment Agency (CRA) exceeded its liabilities at
the close of the current fiscal year by $10,257,033 (net position). Of this amount, $8,822,866
represents restricted net position, which is to be used to meet the CRA's ongoing obligations to the
fund.
■ The CRA's total net position increased by $2,469,505 or 32%.
■ As of the close of the current fiscal year, the CRA's governmental funds reported an ending fund
balance of $8,822,866. The total amount, $8,822,866, is restricted for the purpose of community
redevelopment.
Overview of the Financial Statements
The financial statements focus on the CRA as a whole (government -wide) and on the individual fund. Both
perspectives (government -wide and fund) allow the user to address relevant questions, broaden a basis
for comparison (year-to-year or government -to -government) and enhance the CRA's accountability.
This discussion and analysis is intended to serve as an introduction to the CRA's basic financial statements.
The CRA's basic financial statements comprise three components: 1) government -wide financial
statements, 2) fund financial statements, and 3) notes to the financial statements. This report also
contains other supplementary information in addition to the basic financial statements themselves.
Government -Wide Financial Statements
The government -wide financial statements are designed to provide readers with a broad overview of the
CRA's finances, in a manner similar to a private -sector business.
The statement of net position presents information on all of the CRA's assets, liabilities and deferred
inflows/outflows of resources, with the difference reported as net position. Over time, increases or
decreases in net position may serve as a useful indicator of whether the financial position of the CRA is
improving or deteriorating.
The statement of activities presents information showing how the government's net position changed
during the most recent fiscal year. All changes in net position are reported as soon as the underlying event
giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and
expenses are reported in this statement for some items that will only result in cash flows in future fiscal
periods (e.g., uncollected taxes and earned but unused vacation leave).
The government -wide financial statements distinguish functions of the CRA that are principally supported
by taxes and intergovernmental revenues (governmental activities).
The government -wide financial statements include only the CRA itself (known as the primary government).
rd
Page 10 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
The government -wide financial statements can be found on pages 8-9 of this report.
Fund Financial Statements
A fund is a grouping of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. The CRA, like other state and local governments, uses fund
accounting to ensure and demonstrate compliance with finance -related legal requirements. The general
fund of the CRA is categorized as a governmental fund.
Governmental Funds
Governmental funds are used to account for essentially the same functions reported as governmental
activities in the government -wide financial statements. However, unlike the government -wide financial
statements, governmental fund financial statements focus on near -term inflows and outflows of
spendable resources, as well as on balances of spendable resources available at the end of the fiscal year.
Such information may be useful in evaluating a government's near -term financing requirements.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for governmental funds with similar
information presented for governmental activities in the government -wide financial statements. By doing
so, readers may better understand the long-term impact of the government's near -term financing
decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues,
expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between
governmental funds and governmental activities.
The CRA adopts an annual appropriated budget for the general fund. The budgetary comparison schedule
has been provided for the General Fund to demonstrate compliance with the budget on page 12.
The basic governmental fund financial statements can be found on pages 10-11 of this report.
Notes to the Financial Statements
The notes provide additional information that is essential to a full understanding of the data provided in
the government -wide and fund financial statements. The notes to the financial statements can be found
on pages 13-19 of this report.
Government -Wide Financial Analysis
Statement of Net Position
As noted earlier, net position may serve over time as a useful indicator of a government's financial
position. In the case of the CRA, assets and deferred outflows of resources exceeded liabilities and
deferred inflows of resources by $10,257,033 at the close of the most recent fiscal year. The following
table reflects the condensed statement of net position for the current and prior year. For more details,
see the statement of net position on page 8.
5
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COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
Statement of Net Position as of September 30,
Assets
Current and Other Assets
Capital Assets
Total Assets
Liabilities
Current Liabilities
Total Liabilities
Net Position
Net Investment in Capital Assets
Restricted
Total Net Position
Governmental Activities
2025 2024
$ 8,993,733 $ 6,955,978
1,434,167 882,046
10,427,900 7,838,024
170,867 50,496
170,867 50,496
1,434,167 882,046
8,822,866 6,905,482
$ 10,257,033 $ 7,787,528
The CRA's net position of $1,434,167 is reflected in investment in capital assets, less any outstanding
related debt used to acquire those assets. The CRA uses these capital assets to provide services to citizens,
consequently, these assets are not available for future spending. Although the CRA's investment in capital
assets is reported net of debt, it should be noted that the resources needed to repay this debt must be
provided from other sources, since the capital assets themselves cannot be used to liquidate these
liabilities.
The CRA's net position increased by $2,469,505 during the current fiscal year. The following table reflects
the condensed Statement of Activities for the current year. For more detail seethe Statement of Activities
on page 9.
Revenues
Program Revenues:
General Revenues:
Taxes
Miscellaneous
Total Revenues
Expenses
Physical Environment
Total Expenditures
Increase (Decrease) in Net Position Before Transfers
Transfers
Transfer to Primary Government
Total Transfer
Increase (Decrease) in Net Position
Net Position, Beginning
Net Position, Ending
Governmental Activities
2025 2024
$ 3,314,115 $ 2,663,144
224,912 124,375
3,539,027 2,787,519
1,023,359 713,289
1,023,359 713,289
2,515,668 2,074,230
(46,163)
(3,017,070)
(46,163)
(3,017,070)
2,469,505
(942,840)
7,787,528
8,730,368
$ 10,257,033
$ 7,787,528
11
Page 12 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
MANAGEMENT'S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2025
Governmental Activities
Governmental activities increased the CRA's net position by $2,469,505 due to increases in taxes collected
by the CRA and the completion of a CRA project in the prior year. Upon completion in the prior year, the
project, valued at $36,635, was conveyed to the City for ownership and maintenance.
Financial Analysis of the Government's Funds
As noted earlier, the CRA uses fund accounting to ensure and demonstrate compliance with finance -
related legal requirements.
Governmental Funds
The focus of the CRA's governmental funds is to provide information on near -term inflows, outflows, and
balances of spendable resources. Such information is useful in assessing the CRA's financing
requirements. In particular, unassigned fund balance may serve as a useful measure of a government's
net resources available for spending at the end of the fiscal year.
As of September 30, 2025, the CRA's governmental fund reported an ending fund balance of $8,822,866,
an increase of $1,917,384 in comparison with the prior year. The fund balance is restricted for community
redevelopment.
General Fund Budgetary Highlights
During the year, actual revenues were $97,678 more than budgeted revenues and actual expenditures
were $8,725,188 less than budgeted expenditures. Revenues were higher than budgeted due to an
increase in investment income. Expenses were lower than budgeted primarily due to lower capital activity
than anticipated.
Capital Assets
At September 30, 2025, the CRA reported $1,434,167 in capital assets. At year-end, the entire balance
was considered construction in progress.
Next Year's Budget and Rates
During the next fiscal year, the CRA is expecting to incur enough revenues to cover operating
expenditures.
Requests for Information
This financial report is designed to provide a general overview of the City of Ocoee Community
Redevelopment Agency's finances for all those with an interest in the government's finances. Questions
concerning any of the information provided in this report or requests for additional financial information
should be addressed to the Finance Director, 1 N Bluford Ave, Ocoee, Florida 34761.
VA
Page 13 of 50
BASIC FINANCIAL STATEMENTS
Page 14 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
STATEMENT OF NET POSITION
SEPTEMBER 30, 2025
Governmental
Activities
Assets
Cash and Cash Equivalents $ 8,993,733
Capital Assets:
Capital Assets (Not Being Depreciated) 1,434,167
Total Assets 10,427,900
Liabilities
Accounts Payable 160,902
Accrued Liabilities 9,965
Total Liabilities 170,867
Net Position
Net Investment in Capital Assets 1,434,167
Restricted 8,822,866
Total Net Position $ 10,257,033
The accompanying notes to financial statements are an integral part of these statements.
8
Page 15 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
STATEMENT OF ACTIVITIES
YEAR ENDED SEPTEMBER 30, 2025
Functions/Programs Expenses
Primary Government
Governmental Activities:
Physical Environment
Total Governmental Activities
Program Revenue
Capital Grants
and
Contributions
Net (Expense)
Revenue and
Changes in Net
Position
Governmental
Activities
$ 1,023,359 $ - $ (1,023,359)
$ 1,023,359 $ - (1,023,359)
General Revenues
Taxes 3,314,115
Miscellaneous 224,912
Transfer to Primary Government (46,163)
Total General Revenues and Transfers 3,492,864
Change in Net Position
Net Position, Beginning
Net Position, Ending
2,469,505
7,787.528
$ 10,257,033
The accompanying notes to financial statements are an integral part of these statements.
9
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COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
BALANCE SHEET - GOVERNMENTAL FUNDS
SEPTEMBER 30, 2025
General Fund
Assets
Cash and Cash Equivalents $ 8,993,733
Total Assets 8,993,733
Liabilities
Accounts Payable 160,902
Accrued Liabilities 9,965
Total Liabilities 170,867
Fund Balance
Restricted for Community Development 8,822,866
Total Fund Balances 8,822,866
Total Liabilities and Fund Balances $ 8,993,733
Amounts Reported for Governmental Activities in the Statement of Net Position
are Different Because:
Total Fund Balance Governmental Funds $ 8,822,866
Capital assets used in governmental activities are not current financial resources
and, therefore, are not reported in the funds. 1,434,167
Net Position of Governmental Activities $ 10,257,033
The accompanying notes to financial statements are an integral part of these statements.
10
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COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - GOVERNMENTAL FUNDS
YEAR ENDED SEPTEMBER 30, 2025
Revenues
Taxes
Investment Income
Total Revenues
Expenditures
Current:
Physical Environment
Capital Outlay:
Physical Environment
Total Expenditures
Excess (Deficiency) of Revenues Over (Under) Expenditures
Net Change in Fund Balance
Fund Balance, Beginning
Fund Balance, Ending
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund
Balances of Governmental Funds to the Statement of Activities
Net Change in Fund Balances - Total Governmental Funds
Governmental funds report outlays for capital assets as expenditures. However, in the
statement of activities, the cost of those assets is recorded as capital assets.
This is the amount by which transfers of completed assets exceeded capital outlays.
Change in Net Position of Governmental Activities
General Fund
$ 3,314,115
224,912
3,539,027
1,023,359
598,284
1,621,643
1,917,384
1,917,384
6,905,482
$ 8,822,866
$ 1,917,384
552,121
$ 2,469,505
The accompanying notes to financial statements are an integral part of these statements.
11
Page 18 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET TO ACTUAL
YEAR ENDED SEPTEMBER 30, 2025
Revenues
Property Tax
Investment Income
Miscellaneous
Total Revenues
Expenditures
Current:
Physical Environment
Capital Outlay:
Physical Environment
Total Expenditures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Net Change in Fund Balance
Fund Balance, Beginning
Fund Balance, Ending
Budgeted Amounts
Original Final
Variance with
Final Budget -
Positive
Actual Amounts (Negative)
$ 3,309,598 $ 3,314,115 $ 3,314,115 $ -
99,945 127,234 224,912 97,678
750,000 - - -
4,159,543 3,441,349 3,539,027 97,678
1,240,552 1,207,413 1,023, 359 184,054
8,824,192 9,139,418 598,284 8,541,134
10,064,744 10,346,831 1,621,643 8,725,188
(5,905,201) (6,905,482) 1,917,384 8,822,866
(5,905,201) (6,905,482) 1,917,384 8,822,866
6,905,482 6,905,482 6,905,482 -
$ 1,000,281 $ - $ 8,822,866 $ 8,822,866
The accompanying notes to financial statements are an integral part of these statements.
12
Page 19 of 50
NOTES TO FINANCIAL STATEMENTS
Page 20 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
NOTES TO FINANCIAL STATEMENTS
Note 1- Summary of Significant Accounting Policies
Reporting Entity
The City of Ocoee (the City) created the Community Redevelopment Agency (the CRA) in May of 2006.
This is a dependent taxing district established in accordance with Chapter 163, Part III, Florida Statutes.
Notification to the affected taxing agency was done in compliance with Chapter 163.346, Part III, Florida
Statutes. The incremental annual increase in tax over the base years will be used to fund projects designed
to enhance and improve the described area. The purpose of the CRA is to utilize appropriate private and
public resources to eliminate and prevent the development or spread of slum and blighted areas in
designated areas within the City. Areas within the CRA are to be redeveloped as an economically
sustainable and attractive mixed -use area offering a high -quality local destination in a manner that
promotes a positive image for the City.
The CRA's financial statements are prepared in accordance with generally accepted accounting
principles (GAAP). The Governmental Accounting Standards Board (GASB) is responsible for establishing
GAAP for state and local governments through its pronouncements (Statements and Interpretations). The
more significant accounting policies established by GAAP and used by the CRA are discussed below. The
financial statements have also been prepared in accordance with GASB Statement No. 34, Basic Financial
Statements and Management Discussion and Analysis for State and Local Governments.
In evaluating how to define the CRA, for financial reporting purposes, the CRA has considered all potential
component units. The definition of the reporting entity is based primarily on the notion of financial
accountability. A primary government is financially accountable for the organizations that make up its
legal entity. It is also financially accountable for legally separate organizations if its officials appoint a
voting majority of an organization's governing body, and either it is able to impose its will on that
organization or there is a potential for the organization to provide specific financial benefits to, or to
impose specific financial burdens on, the primary government. A primary government may also be
financially accountable for governmental organizations that are fiscally dependent on it.
A primary government has the ability to impose its will on an organization if it can significantly influence
the programs, projects, or activities of, or the level of services performed or provided by, the organization.
A financial benefit or burden relationship exists if the primary government: (a) is entitled to the
organization's resources; (b) is legally obligated or has otherwise assumed the obligation to finance the
deficits of, or provide financial support to, the organization; or (c) is obligated in some manner for the
debt of the organization. Additionally, the primary government has operational responsibility for the
component unit. In applying the above criteria, the CRA is a component unit of the City.
Government -Wide and Fund Financial Statements
The government -wide financial statements (i.e., the statement of net position and the statement of
activities) report information on all of the non -fiduciary activities of the CRA. For the most part, the effect
of interfund activity has been removed from these statements; however, interfund services provided and
used are not eliminated. Governmental activities are normally supported by taxes and intergovernmental
revenues.
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COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
NOTES TO FINANCIAL STATEMENTS
The statement of activities demonstrates the degree to which the direct expenses of a given function or
segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a
specific function or segment. Program revenues include: 1) charges to customers or applicants who
purchase, use, or directly benefit from goods, services, or privileges provided by a given function or
segment; and 2) grants and contributions that are restricted to meeting the operational or capital
requirements of a particular function or segment. Taxes and other items not properly included among
program revenues are reported instead as general revenues.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government -wide financial statements are reported using the economic resources measurement
focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are
recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are
recognized as revenues in the year for which they are levied. Grants and similar items are recognized as
revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement
focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both
measurable and available. Revenues are considered to be available when they are collectible within the
current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the
CRA considers revenues to be available if they are collected within 60 days of the end of the current fiscal
period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting.
However, debt service expenditures, as well as expenditures related to compensated absences and claims
and judgments, are recorded only when payment is due.
Property taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all
considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal
period. All other revenue items are considered to be measurable and available only when cash is received
by the CRA. The CRA reports the following fund:
■ The General Fund was established as a dependent taxing district. The incremental annual increase in
tax over the base years will be used to fund projects designed to enhance and improve the described
area.
Amounts reported as program revenues include: 1) charges to customers or applicants for goods, services,
or privileges provided, if any; 2) operating grants and contributions; and 3) capital grants and
contributions, including special assessments. Internally dedicated resources are reported as general
revenues rather than as program revenues. Likewise, general revenues include all taxes.
When both restricted and unrestricted resources are available for use, it is the CRA's policy to use
restricted resources first, then unrestricted resources as they are needed.
Assets, Liabilities, Deferred Outflows/Inflows, and Net Position/Fund Balance
Deposits and Investments
The CRA's cash and cash equivalents are considered to be cash on hand, demand deposits, and short-term
investments with original maturities of three months or less from the date of acquisition.
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Page 22 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
NOTES TO FINANCIAL STATEMENTS
Receivables and Payables
All receivables are shown net of an allowance for uncollectibles.
The CRA's primary source of revenue is tax -increment funds. This revenue is computed by applying the
respective operating tax rates for the City and Orange County (the County), multiplied by increased value
of property located within the boundaries of the redevelopment areas of the CRA in excess of the base
property value, minus 5%. The City and the County are required to fund this amount annually without
regard to tax collections or other obligations.
Capital Assets
Capital assets, which include property, plant, equipment and infrastructure assets (e.g., roads, bridges,
sidewalks, and similar items), are defined by the CRA's capitalization policy as assets with an initial,
individual cost of $5,000 or more and an estimated useful life in excess of one year. Such assets are
recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets
are recorded at acquisition value at the date of donation. Any assets purchased with CRA funds are
conveyed to the City for ownership and maintenance upon completion of the project. At year-end, all
capital assets are considered construction in progress.
Long -Term Obligations
In the government -wide financial statements, long-term debt and other long-term obligations are
reported as liabilities in the applicable governmental activities statement of net position. Bond premiums
and discounts are deferred and amortized over the life of the bonds using the effective interest method.
Bonds payable are reported net of the applicable bond premium or discount.
In the fund financial statements, governmental fund types recognize bond premiums and discounts during
the current period. The face amount of debt issued is reported as other financing sources. Premiums
received on debt issuances are reported as other financing sources while discounts on debt issuances are
reported as other financing uses.
Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for
deferred outflows of resources. This separate financial statement element, deferred outflows of
resources, represents a consumption of net position that applies to a future period(s), and so will not be
recognized as an outflow of resources (expense/expenditure) until then. The CRA does not have any item
that qualifies for reporting in this category for the year ended September 30, 2025.
In addition to liabilities, the statement of financial position will sometimes report a separate section for
deferred inflows of resources. This separate financial statement element, deferred inflows of resources,
represents an acquisition of net position that applies to a future period(s), and so will not be recognized
as an inflow of resources (revenue) until that time. The CRA does not have any item that qualifies for
reporting in this category for the year ended September 30, 2025.
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Page 23 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
NOTES TO FINANCIAL STATEMENTS
Net Position Flow Assumptions
Sometimes the CRA will fund outlays for a particular purpose from both restricted and unrestricted
resources. In order to calculate the amounts to report as restricted net position and unrestricted net
position in the government -wide financial statements, a flow assumption must be made about the order
in which the resources are considered to be applied. It is the CRA's policy to consider restricted net
position to have been depleted before unrestricted net position is applied.
Fund Balance Flow Assumptions
Sometimes the CRA will fund outlays for a particular purpose from both restricted and unrestricted
resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the
amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental
fund financial statements, a flow assumption must be made about the order in which the resources are
considered to be applied. It is the CRA's policy to consider restricted fund balance to have been depleted
first before using any of the components of unrestricted fund balance. Further, when the components of
unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first,
followed by assigned fund balance. Unassigned fund balance is applied last.
Fund Balance Policies
Fund balance of governmental funds is reported in various categories based on the nature of any
limitations requiring the use of resources for specific purposes. The CRA itself can establish limitations on
the use of resources through either a commitment (committed fund balance) or an assignment (assigned
fund balance).
The committed fund balance classification includes amounts that can be used only for the specific
purposes determined by a formal action of the CRA's highest level of decision -making authority. The CRA
Board of Directors (the CRA Board) is the highest level of decision -making authority for the CRA that can,
by adoption of a resolution prior to the end of the fiscal year, commit fund balance. Once adopted, the
limitation imposed by the resolution remains in place until a similar action is taken (the adoption of
another resolution) to remove or revise the limitation.
Amounts in the assigned fund balance classification are intended to be used by the CRA for specific
purposes but do not meet the criteria to be classified as committed. The CRA Board has maintained
authority to assign fund balance. The CRA Board may also assign fund balance as it does when
appropriating fund balance to cover a gap between estimated revenue and appropriations in the
subsequent year's appropriated budget. Unlike commitments, assignments generally only exist
temporarily. In other words, an additional action does not normally have to be taken for the removal of
an assignment. Conversely, as discussed above, an additional action is essential to either remove or revise
a commitment.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and
the reported amounts of revenues and expenditures during the reporting period. Actual results could
differ from those estimates.
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Page 24 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
NOTES TO FINANCIAL STATEMENTS
New Accounting Standards
In fiscal year 2025, the CRA has not implemented any new accounting standards with a material effect on
the CRA's financial statements.
Note 2 - Stewardship, Compliance, and Accountability
Budgetary Information
Annual budgets are adopted on a basis consistent with GAAP for the CRA. The CRA follows these
procedures set forth below in establishing the budgetary data reflected in the financial statements.
1) Prior to the CRA's September budget meeting, the Executive Director/City Manager submits to the
CRA a proposed budget forthe fiscal year commencing the following October 1st. The budget includes
proposed expenditures, including operating and capital improvement projects, and the means of
financing them.
2) A noticed CRA budget meeting is held to discuss and approve the CRA's proposed budget. This
meeting is held prior to the City Commission's second public hearing to adopt the City's budget.
3) The CRA adopts the budget by resolution. The resolution includes language on how to handle the
increase or decrease in tax increment revenues and cash brought forward. The CRA's adopted budget
is sent to the City Commission and is incorporated into the City's overall budget.
4) On or before September 30th of each year, the Commission adopts the final budget by ordinance,
which includes the CRA's budget, and establishes the ad valorem tax millage for the City.
5) The CRA cannot legally exceed the amended budget; however, the Executive Director/City Manager
is authorized to administratively make any adjustments to the CRA's budget. The legal level of
budgetary control is at the department level.
6) The CRA must transmit the adopted budget and any amendments to the County within 10 days of
adoption by the CRA Board.
Note 3 - Deposits and Investments
Deposits
All bank deposits were covered by Federal Depository Insurance or by collateral held in banks that are
members of the State of Florida's Collateral Pool as specified under Florida Law. Florida Statutes provide
for collateral pooling by banks and savings and loans. This limits local government deposits to "authorized
depositories".
Investments
The CRA categorizes its fair value measurements within the fair value hierarchy established by GAAP. The
fair value is the price that would be received to sell an asset, or paid to transfer a liability, in an orderly
transaction between market participants at the measurement date. The hierarchy is based on the
valuation inputs used to measure the fair value of the asset. The CRA uses a market approach in measuring
fair value that uses prices and other relevant information generated by market transactions involving
identical or similar assets, liabilities, or groups of assets and liabilities.
17
Page 25 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
NOTES TO FINANCIAL STATEMENTS
Assets or liabilities are classified into one of three levels. Level 1 is the most reliable and is based on
quoted price for identical assets, or liabilities, in an active market. Level 2 uses significant other
observable inputs when obtaining quoted prices for identical or similar assets, or liabilities, in markets
that are not active. Level 3 is the least reliable and uses significant unobservable inputs that uses the best
information available under the circumstances, which includes the CRA's own data in measuring
unobservable inputs. The CRA had no investments as defined by GASB Statement No. 72 as of
September 30, 2025.
The CRA's investment policies are governed by Florida Statutes and City ordinances. City ordinance allows
investments in any financial institution that is a qualified public depository of the State of Florida as
identified by the State Treasurer, in accordance with Chapter 280 of the Florida Statutes. Authorized
investments are:
1. State Board of Administration Local Government Investment Pool (SBA LGIP)
2. Registered Investment Companies (Money Market Mutual Funds)
3. Money Market Funds and Certificates of Deposit in State -Certified Qualified Public Depositories
4. U.S. Government Agency Securities and U.S. Treasury Bills, Notes and Bonds
5. Repurchase Agreements
Credit Risk
The City's investment policy limits credit risk by restricting authorized investments to those described
above. The policy requires that investments in U.S. Government agency securities be guaranteed by the
full faith of the U.S. Government. Also, term repurchase agreements must be collateralized by U.S.
Treasury securities and overnight (sweep) repurchase agreements must be collateralized by the full faith
or general faith and credit obligations of the U.S. Government or U.S. Government agency securities.
Securities of registered investment companies must be limited to U.S. Government obligations and to
repurchase agreements fully collateralized by such U.S. Government obligations.
Custodial Credit Risk
In the case of deposits, this is the risk that in the event of a bank failure, the City's deposits may not be
returned to it. The City's investment policy requires that bank deposits be secured as provided by
Chapter 280, Florida Statutes. This law requires local governments to deposit funds only in financial
institutions designated as qualified public depositories by the Chief Financial Officer of the State of Florida,
and creates the Public Deposits Trust Fund, a multiple financial institution pool with the ability to assess
its member financial institutions for collateral shortfalls if a default or insolvency has occurred. At
September 30, 2025, all of the CRA's bank deposits were in qualified public depositories.
For an investment, this is the risk that, in the event of the failure of the counterparty, the CRA will not be
able to recover the value of its investments of collateral securities that are in the possession of an outside
party.
Concentration of Credit Risk
The policy has no limitations on portfolio composition.
Interest Rate Risk
The policy limits investment in U.S. Government agency securities, treasury bills, notes, and bonds to a
maximum maturity of five years. The maximum length to maturity for certificates of deposit is three years.
F�3
Page 26 of 50
COMMUNITY REDEVELOPMENT AGENCY
CITY OF OCOEE, FLORIDA
NOTES TO FINANCIAL STATEMENTS
Note 4 - Capital Assets
Capital asset activity for the year ended September 30, 2025, was as follows:
Beginning Ending
Balance Increases Decreases Balance
Governmental Activities:
Capital Assets, Not Being Depreciated:
Construction in Progress $ 882,046 $ 588,756 $ 36,635 $ 1,434,167
Total Capital Assets, Not Being
Depreciated $ 8822046 $ 588,756 $ 36,635 $ 1434 167
Note 5 - Commitments and Contingencies
Risk Management
The CRA is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets;
errors and omissions; and natural disasters for which the CRA is covered under the City's commercial
insurance. There have been no significant reductions in insurance coverage from the prior year and there
have been no settlements during the past three years.
Note 6 - Related -Party Transactions
The CRA is a component unit of the City. For the year ended September 30, 2025, the CRA's tax increment
revenues include $1,748,044 received from the City. In addition, the CRA reimbursed the City for services
performed on behalf of the CRA, such as payroll and payroll benefits paid during the year. Payment to
the City for these services during the year ended September 30, 2025, was approximately $411,766.
The CRA transferred completed assets totaling $46,163 to the City for reporting and ongoing maintenance.
At year-end, the CRA owed the City $0 for expenditures paid by the City and not yet remitted from the
CRA.
Note 7 - Source of Deposits and Purpose of Withdrawals
Pursuant to Florida Statute 163.387, listed below is a summary of the sources and amounts of deposits
to, and the purpose and amounts of withdrawals from, the CRA funds for the fiscal year ended
September 30, 2025:
Source of Deposit
Tax Increment $ 3,314,115
Investment Income 224,912
Total Sources of Deposit $ 3,539,027
Purpose of Withdrawal
Salaries and Benefits $ 411,766
Professional Services 503,308
Miscellaneous 108,285
Total Purpose of Withdrawals $ 1,023 359
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Page 27 of 50
OTHER REPORTS
Page 28 of 50
PURVIs GRAY
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENTAUDITING STANDARDS
Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States, the financial statements of the City of Ocoee,
Florida, Community Redevelopment Agency (the CRA) as of and for the year ended September 30, 2025,
and the related notes to the financial statements, which collectively comprise the CRA's financial
statements and have issued our report thereon dated March 25, 2026.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the CRA's internal control
over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in
the circumstances for the purpose of expressing our opinion on the financial statements, but not for the
purpose of expressing an opinion on the effectiveness of the CRA's internal control. Accordingly, we do
not express an opinion on the effectiveness of the CRA's internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination
of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement
of the entity's financial statements will not be prevented, or detected and corrected, on a timely basis. A
significant deficiency is a deficiency, or a combination of deficiencies in internal control that is less severe
than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the CRA's financial statements are free from
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grant agreements, non-compliance with which could have a direct and material effect on
CERTIFIED PL C ACCOUNTANTS
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Page 29 of 50
Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENTAUDITING STANDARDS
the financial statements. However, providing an opinion on compliance with those provisions was not an
objective of our audit and, accordingly, we do not express such an opinion. The results of our tests
disclosed no instances of non-compliance or other matters that are required to be reported under
Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the CRA's internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the CRA's internal control and compliance. Accordingly,
this communication is not suitable for any other purpose.
Purvis Oray
March 25, 2026
Ocala, Florida
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Page 30 of 50
PURVIs GRAY
INDEPENDENT ACCOUNTANT'S REPORT ON COMPLIANCE WITH
SECTION 163.387(6) AND (7), FLORIDA STATUTES
Honorable CRA Board
Ocoee Community Redevelopment Agency
Ocoee, Florida
We have examined the Ocoee Community Redevelopment Agency's (the CRA) compliance with the
requirements of Section 163.387(6) and (7), Florida Statutes, as of and for the year ended September 30,
2025, as required by Section 10.556(10)(f), Rules of the Auditor General. Management is responsible for
the CRA's compliance with those requirements. Our responsibility is to express an opinion on the CRA's
compliance based on our examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants. Those standards require that we plan and perform the
examination to obtain reasonable assurance about whether the CRA complied, in all material respects,
with the requirements referenced above. An examination involves performing procedures to obtain
evidence about whether the CRA complied with the specific requirements. The nature, timing, and extent
of procedures selected depend on our judgement, including an assessment of the risk of material non-
compliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and
appropriate to provide a reasonable basis for our opinion.
Our examination does not provide a legal determination on the CRA's compliance with specific
requirements.
We are required to be independent and to meet our other ethical responsibilities in accordance with
relevant ethical requirements relating to the engagement.
In our opinion, the CRA complied, in all material respects, with the aforementioned requirements for the
year ended September 30, 2025.
This report is intended solely for the information and use of the Legislative Auditing Committee, members
of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, the CRA, its
management, and the Board of Directors of the City of Ocoee, Florida, and is not intended to be, and
should not be, used by anyone other than these specified parties.
March 25, 2026
Ocala, Florida
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PURVIs GRAY
INDEPENDENT ACCOUNTANT'S REPORT ON COMPLIANCE WITH
SECTION 218.415, FLORIDA STATUTES
Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
We have examined the Ocoee Community Redevelopment Agency's (the CRA) compliance with the
requirements of Section 218.415, Florida Statutes, as of and for the year ended September 30, 2025, as
required by Section 10.556(10)(a), Rules of the Auditor General. Management is responsible for the CRA's
compliance with those requirements. Our responsibility is to express an opinion on the CRA's compliance
based on our examination.
Our examination was conducted in accordance with attestation standards established by the American
Institute of Certified Public Accountants. Those standards require that we plan and perform the
examination to obtain reasonable assurance about whether the CRA complied, in all material respects,
with the requirements referenced above. An examination involves performing procedures to obtain
evidence about whether the CRA complied with the specific requirements. The nature, timing, and extent
of procedures selected depend on our judgement, including an assessment of the risk of material non-
compliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and
appropriate to provide a reasonable basis for our opinion.
Our examination does not provide a legal determination on the CRA's compliance with specific
requirements.
We are required to be independent and meet our other ethical responsibilities in accordance with relevant
ethical requirements relating to the engagement.
In our opinion, the CRA complied, in all material respects, with the aforementioned requirements for the
year ended September 30, 2025.
This report is intended solely for the information and use of the Legislative Auditing Committee, members
of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, the CRA, its
management, and the Board of Directors of the City of Ocoee, Florida, and is not intended to be, and
should not be, used by anyone other than these specified parties.
March 25, 2026
Ocala, Florida
i
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23
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PURVIs GRAY
MANAGEMENT LETTER
Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
Report on the Financial Statements
We have audited the financial statements of the City of Ocoee, Florida (the City) Community
Redevelopment Agency (the CRA) as of and for the fiscal year ended September 30, 2025, and have issued
our report thereon dated March 25, 2026.
Auditor's Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America; the standards applicable to financial audits contained in Government Auditing Standards, issued
by the Comptroller General of the United States, and Chapter 10.550, Rules of the Auditor General.
Other Reporting Requirements
We have issued our Independent Auditor's Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards; and Independent Accountant's Report on examination conducted in
accordance with American Institute of Certified Public Accountants Professional Standards, AT-C
Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor
General. Disclosures in those reports, which are dated March 25, 2026, should be considered in
conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective
actions have been taken to address findings and recommendations made in the preceding financial audit
report. There were no findings in the previous report.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal
authority for the primary government be disclosed in the management letter, unless disclosed in the notes
to the financial statements (see Note 1 of the CRA's financial statements as of and for the year ended
September 30, 2025, for this information).
Financial Condition and Management
Sections 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate
procedures and communicate the results of our determination as to whether or not the CRA has met one
or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific
condition(s) met. In connection with our audit, we determined that the CRA did not meet any of the
conditions described in Section 218.503(1), Florida Statutes.
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24
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Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
MANAGEMENT LETTER
Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial
condition assessment procedures. It is management's responsibility to monitor the CRA's financial
condition, and our financial condition assessment was based in part on representations made by
management and the review of financial information provided by same.
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the management letter
any recommendations to improve financial management. In connection with our audit, we did not have
any such recommendations.
Property Assessed Clean Energy (PACE) Programs
As required by Section 10.554(1)(i)6.a., Rules of the Auditor General, the CRA confirms that a PACE
program, authorized pursuant to Section 163.081 or Section 163.082, Florida Statutes, operated within
the CRA's geographical boundaries during the fiscal year under audit.
The City offers the C-PACE Commercial Property Assessed Clean Energy Program and has agreements in
place with The Florida Green Finance Authority and The Florida Resiliency Energy District (FRED).
However, there are no active agreements within the City at this time.
As required by Sections 10.554(1)(i)6.b. and 10.554(1)(i)6.c., Rules of the Auditor General, the following
are the program administrators and their contact information:
■ City Program Administrator:
• Mike Rumer—Mrumer@ocoee.org
■ The Florida Green Finance Authority:
• Mitty Barnard — Mitty@davislawteam.com
■ FRED:
• Ryan Bartkus — Rbartkus@fdcbonds.com
Special District Component Units
Section 10.554(1)(i)5.d., Rules of the Auditor General, requires, if appropriate, that we communicate the
failure of a special district that is a component unit of a county, municipality, or special district, to provide
the financial information necessary for proper reporting of the component unit, within the audited
financial statements of the county, municipality, or special district in accordance with Section 218.39(3)(b),
Florida Statutes. In connection with our audit, we did not note any special district component units that
failed to provide the necessary information for proper reporting in accordance with Section 218.39(3)(b),
Florida Statutes.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)7, Rules of the Auditor
General, the CRA reported the following information that was not subject to auditing procedures:
a. The total number of district employees compensated in the last pay period of the district's fiscal year
as 0.
b. The total number of independent contractors to whom non -employee compensation was paid in the
last month of the district's fiscal year as 6.
25
Page 34 of 50
Honorable CRA Board
Community Redevelopment Agency
City of Ocoee, Florida
MANAGEMENT LETTER
c. All compensation earned by or awarded to employees, whether paid or accrued, regardless of
contingency as $0.
d. All compensation earned by or awarded to non -employee independent contractors, whether paid or
accrued, regardless of contingency as $368,108.
e. Each construction project with a total cost of at least $65,000 approved by the CRA that is scheduled
to begin on or after October 1 of the fiscal year being reported, together with the total expenditures
for such projects as: Maguire Road intersection improvement for $830,616.
f. A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before
the beginning of the fiscal year being reported if the district amends a final budget under
Section 189.016(6), Florida Statutes; see Schedule of Revenues, Expenditures, and Changes in Fund
Balance — Budget and Actual as presented in the financial statements for the year ended
September 30, 2025.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate non-compliance with
provisions of contracts or grant agreements, or fraud, waste, or abuse, that has occurred or is likely to
have occurred, that has an effect on the financial statements that is less than material but warrants the
attention of those charged with governance. In connection with our audit, we did not note any such
findings.
Purpose of This Letter
Our management letter is intended solely for the information and use of the Legislative Auditing
Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor
General, federal and other granting agencies, the Honorable Mayor, and City of Ocoee Board of Directors
and management, and is not intended to be, and should not be, used by anyone other than these specified
parties.
March 25, 2026
Ocala, Florida
26
Page 35 of 50
X40 43� FIFTY
owee WEST
CRA
TO:
Honorable CRA Board
FROM:
Carolina Vaca, CRA Administrator
DATE:
Tuesday, June 2, 2026
RE:
Budget Adjustment for FY 2025-2026
On September 16, 2025, the budget for Fiscal Year 2025-2026 was adopted by
Resolution No. 2025-002. The resolution contains an operative clause stating that
the budget would be adjusted at a later time when final calculations regarding
tax increment revenues and/or carried forward monies deposited were received.
REVENUE
Tax Increment Financing: On November 5, 2025, staff received the Fiscal Year
2026 Computation of Ocoee and Orange County Payments to CRA from the
Orange County Office of Management and Budget. The computation stated
that the tax increment payments to be made by the City and Orange County
into the CRA Trust Fund were $2,014,745.05 and $1,803,695.00, respectively.
Subsequently, the rebate owed by the CRA back to Orange County —per the
interlocal agreement —was $241,108.50. These values were more than those
originally estimated during the budget adoption process, as follows:
As previously shared at the March 3, 2026, CRA Board meeting, staff has already
sent the Rebate payment to Orange County and there are currently no
outstanding payments.
Cash Balance: In addition to the change in Tax Increment Revenue received, the
estimated cash carried forward from Fiscal Year 2025 must also be adjusted to
Page 36 of 50
accurately reflect the audited year-end results of operations. Initially, staff
budgeted $8,589,433 which is an estimated amount due to the total
reconciliations being incomplete at the time. A true -up is now necessary to reflect
the final audited cash balance of $8,822,866.
Interest Earnings: As of the last report received from our Finance Department, the
Interest Earnings in the CRA Trust Fund are currently $25,438.13 more than
the amount estimated at budget adoption.
Transfers In: The CRA received reimbursement of $43,701.63 from the
Federal Emergency Management Agency (FEMA) and the Florida
Division of Emergency Management (FDEM) for a percentage of the
amount spent on hurricane repairs at Wellness Park.
ADJUSTMENTS
In accordance with Resolution No. 2025-002, staff proposes that the $192,647.05
increase in Tax Increment Revenue be added to line item 4900, Reserve for
Contingency.
Page 37 of 50
Since Section 163.387 (7), Florida Statutes dictates that money remaining in the
trust fund at the end of the fiscal year (Cash Balance) be appropriated to specific
redevelopment projects, staff proposes that the $233,433 increase in Cash
Balance be added to Fund 131, Capita/ Improvements, to be used specifically for
the Bluford Avenue Streetscape project.
OTHER BUDGET ADJUSTMENTS
At this time, staff would also like to take the opportunity to make the following
additional budget adjustments:
In accordance with Section 189.016(6)(c), Florida Statutes, the budget
amendment will be adopted by resolution. Staff will bring Resolution No. 2026-001
before the CRA Board at the June 2, 2026, meeting. All changes outlined in this
memo are reflected in Exhibit A of the resolution.
Attachments:
Resolution No. 2026-001
Estimated Computation of Payments to CRA, dated June 5, 2025
FY 2026 Computation of Payments to CRA, dated October 30, 2025
Page 38 of 50
CRA RESOLUTION NO.2026-001.
A RESOLUTION OF THE OCOEE COMMUNITY
REDEVELOPMENT AGENCY TO AMEND THE BUDGET
FOR FISCAL YEAR 2025-2026; PROVIDING FOR
SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Community Redevelopment Agency CRA is a dependent special
district under Chapter 189, Florida Statutes, known as the Uniform Special District Accountability
Act (the "Special District Act"); and
WHEREAS, the Special District Act requires all special districts, including
dependent special districts, such as the CRA, to adopt a budget for each fiscal year by resolution;
and
WHEREAS, Section 189.016(6), Florida Statutes, allows the governing board of
a community redevelopment agency to amend its budget at any time within a fiscal year by
resolution; and
WHEREAS, the Fiscal Year 2025-2026 annual budget approved on September 16,
2025, includes an estimate of all revenue and expenditures for the year for the Ocoee Community
Redevelopment Agency; and
WHEREAS, the Executive Director of the CRA requests to amend or adjust the
budget at this time, for the purpose of adjusting the actual Tax Increment Financing (TIF) amounts
received from the City of Ocoee and Orange County and amending unexpended balance from
Fiscal Year 2024-2025.
1
Page 39 of 50
REDEVELOPMENT AGENCY, AS FOLLOWS:
SECTION 1. Authority. The CRA has the authority to adopt this Resolution
pursuant to the Special District Act.
SECTION 2. Amendment of Budget. The governing body of the CRA does
hereby approve and adopt the amended CRA Budget for Fiscal Year 2025-2026 as attached hereto
and incorporated herein in Exhibit A.
SECTION 3. Severability. If any section, subsection, sentence, clause, phrase or
portion of this Resolution is for any reason held invalid or unconstitutional by any court of
competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision.
and such holding shall not affect the validity of the remaining portion hereto.
SECTION 4. Effective Date. This Resolution shall become effective immediately
upon passage and adoption.
PASSED AND ADOPTED this 2nd of June, 2026.
SIGNATURES TO FOLLOW
2
Page 40 of 50
ATTEST:
Melanie Sibbitt, Secretary
(SEAL)
FOR USE AND RELIANCE ONLY
BY THE OCOEE COMMUNITY
REDEVELOPMENT AGENCY,
APPROVED AS TO FORM AND LEGALITY
This 2nd day of June, 2026.
FISHBACK DOMINICK, LLP
Richard S. Geller, CRA Attorney
APPROVED:
OCOEE COMMUNITY
REDEVELOPMENT AGENCY
Chair
3
Page 41 of 50
Revenue Source
Cash Balance
BEGINNING CASH BALANCE
$8,589,433
$8,822,866
Total Cash Balance:
$8,589,433
$8,822,866
Intergovernmental
LOCAL GOUT GRANT- WEST ORANGE HEALTHCARE DIST
$0.00
%00'
Total Intergovernmental:
$0.00
$0.00
Other Revenues
MISCELLANEOUS REVENUE
$0.00
$0.00'
INTEREST EARNINGS
$110,000.00
$135,438.13
Total Other Revenues:
$110,000.00
$135,438.13
Other Financing
TRANSFERS IN
$0.00
$43,701.63
GRANT REVENUE
$0.00
c $0.00
Total Other Financing:
$0.00
$43,701.63
Taxes
CONTRIBUTIONS
$1,713,353.00
$1,803,695.00
CITY CONTRIBUTION
$1,912,440.00
$2,014,745.05
Total Taxes:
$3,625,792.94
$3,818,440.05
Total Revenue Source:
$12,325,226.09
$12,820,445.81'
Page 42 of 50
Expense Objects
a .�®
Personnel Services
CRA
OTHER SERVICES
130-516-00-1101
$3,591.00
$3,591.00
REGULAR SALARIES
130-516-00-1200
$423,857.00
$423,857.00'
OVERTIME PAY
130-516-00-1400
$126.00
$126.00
PTO BUYOUT
130-516-00-1510
$7,975.00
$7,975.00'
FICA TAXES
130-516-00-2100
$32,097.00
$32,097.00
RETIREMENT CONTRIBUTIONS
130-516-00-2200
$41,908.00
$41,908.00'
HEALTH INSURANCE
130-516-00-2300
$135,235.00
$135,235.00
LIFE INSURANCE
130-516-00-2301
$1,413.00
$1,413.00'
DENTAL/VISION INSURANCE
130-516-00-2302
$1,561.00
$1,561.00
ACCIDENT/DISABILITY INSURANCE
130-516-00-2303
$2,112.00
$2,112.00'
WORKERS' COMP INSURANCE
130-516-00-2400
$616.00
$616.00
Total CRA:
$650,491.00
$650,491.00'
Total Personnel Services:
$650,491.00
$650,491.00
Operating Expenses
CRA
LEGAL FEES
130-516-00-3101
$5,000.00
$5,000.00
ENGINEERINGEXPENSE
130-516-00-3102
$0.00
$0.00
PROFESSIONAL SERVICES
130-516-00-3128
$168,500.00
$168,500.00
COUNTY CONTRIBUTION REBATE
130-516-00-3129
$2,140,056.00
$214,006
ACCOUNTING AUDITING
130-516-00-3200
$5,500.00
$5,500.00
CONTRACTUAL SERVICES
130-516-00-3400
$311,893.00
$311,893.00
TRAVEL EXPENSE
130-516-00-4000
$4,500.00
$4,500.00
TELEPHONE EXPENSE
130-516-00-4100
$2,800.00
$2,800.00'
POSTAGE FREIGHT
130-516-00-4200
$500.00
$500.00
WATER EXPENSE
130-516-00-4301
$40,000.00
$40,000.00'
LEASING EXPENSE
130-516-00-4400
$0.00
$0.00
AUTO LIABILITY INSURANCE
130-516-00-4501
$0.00
$0.00
VEHICLE PARTS REPAIRS
130-516-00-4605
$0.00
$0.00
EQUIP MAINT CONTRACTS
130-516-00-4606
$0.00
$0.00
PRINTING AND BINDING
130-516-00-4700
$5,000.00
$5,000.00
NEWSLETTER EXPENSE
130-516-00-4800
$0.00
$0.00
RESERVE FOR CONTINGENCY
130-516-00-4900
$50,000.00
$242,647.05
ADMINISTRATION LEGAL ADS
130-516-00-4901
$600.00
$600.00
MISCELLANEOUS
130-516-00-4902
$0.00
$0.00
OFFICE SUPPLIES
130-516-00-5100
$1,000.00
$1,000.00+
POL SUPPLIES
130-516-00-5200
$600.00
$600.00
UNIFORMS
130-516-00-5201
$200.00
$200.00
Operating Supplies
130-516-00-5202
$1,000.00
$1,000.00
COPYING EXPENSE
130-516-00-5216
$1,000.00
$1,000.00
COMPUTER PERIPHERALS / SOFTWARE 1
130-516-00-5235
$2,000.00
$2,000.00
BOOKS -SUBSCRIPTIONS
130-516-00-5401
$1,000.00
$1,000.00
PROFESSIONAL DUES
130-516-00-5402
$3,000.00
$3,000.00
TRAINING EXPENSE
130-516-00-5405
$7,000.00
$7,000.00
PRINCIPAL
130-516-00-7100
$0.00
$0.00
INTEREST EXPENSE
130-516-00-7200
$0.00
is$0.00;
COMMUNITY PROMOTIONS
130-516-00-8200
$0.00
$0.00
PUBLIC RELATIONS DEVELOPMENT
130-516-00-8205
$5,000.00
$5,000.00
GRANTS CONTRIBUTION
130-516-00-8210
$276,000.00
$276,000.00
TRANSFERS OUT
130-516-00-9000
$0.00
$0.00.
TRANSFERS OUT -DEBT SER
130-516-00-9100
$0.00
$0.00
TRANSFERS OUT - CAPITAL
130-516-00-9105
$10,568,636.00
$10,871,208.76'
Total CRA:
$11,674,735
$12,169,954.81
Total Operating Expenses:
$11,674,735
$12,169,954.81
Total Expense Objects:
1
$12,325,226
$12,820,445.81
Page 43 of 50
Payment to the Ocoee CRA from the City of Ocoee
TAX YEAR 2025
"ESTIMATE only"
Current year gross taxable value (DR 422)
Base year taxable value
Current year incremental taxable value
Incremental value / 1,000
Current year City of Ocoee millage (1)
Estimated incremental ad -valorem revenues
95% (per F.S. Chapter 163.387)
Fiscal Year 2026
564,170,614
157,484,822
406,685,792
406,686
4.95001
2,013,095
95%
Current Year CRA Payment to the Ocoee CRA
from the City of Ocoee $ 1,912,439.94
(1) The source for the current year City of Ocoee millage is the Property Appraiser's website Millage Rates.
Prepared by OMB 1 of 2 6/5/2025 jt
Page 44 of 50
Amended Orange County / City of Ocoee / Ocoee Community
Redevelopment Agency Rebate Calculation
**ESTIMATE only**
City of Ocoee Current Year CRA Tax Increment Payment
Orange County Current Year CRA Tax Increment Payment
Total Tax Increment Payment and Amount to be Rebated by
Ocoee CRA
Pro-rata Contribution Share for the City of Ocoee
Pro-rata Contribution Share for Orange County
Rebate Distribution to Orange County (Rebate should be paid
within 60 days of receipt of increment funding)
Total Rebate
Fiscal Year
2026
$1,912,439.94
$1,713,353.00
$3,625,792.94
52.7454%
47.2546%
$214,005.90
$214,005.90
Upon receipt of Orange County's payment as set forth in paragraph 5 (a) hereof, the City hereby agrees
to rebate, or cause the CRA to rebate to Orange County each year, within sixty days of receipt of said
payment, the following portion of the amount deposited by Orange County in the Community
Redevelopment Trust fund established by the City pursuant to Section 163.387, Florida Statutes, for the
particular year (such payment being herein referred to as the "Rebate")
(1) Thirty percent (30%) of the amount in excess of $1,000,000.00 but less than or equal to
$2,000,000.00, plus,
(2) Fifty percent (50%) of the amount in excess of $2,000,000.00
Prepared by OMB 2 of 2 6/5/2025 jt
Page 45 of 50
Payment to the Ocoee CRA from the City of Ocoee
TAX YEAR 2025
Current year gross taxable value (DR 422)
Base year taxable value
Current year incremental taxable value
Incremental value / 1,000
Current year City of Ocoee millage (1)
Estimated incremental ad -valorem revenues
95% (per F.S. Chapter 163.387)
Fiscal Year 2026
585,926,088
157,484,822
428,441,266
428,441
4.9500
2,120,784
95%
Current Year CRA Payment to the Ocoee CRA
from the City of Ocoee $ 2,014,745.05
(1) The source for the current year City of Ocoee millage is the Property Appraiser's website Millage Rates.
Prepared by OMB 1 of 2 10/30/2025 jt
Page 46 of 50
Amended Orange County / City of Ocoee / Ocoee Community
Redevelopment Agency Rebate Calculation
City of Ocoee Current Year CRA Tax Increment Payment
Orange County Current Year CRA Tax Increment Payment
Total Tax Increment Payment and Amount to be Rebated by
Ocoee CRA
Pro-rata Contribution Share for the City of Ocoee
Pro-rata Contribution Share for Orange County
Rebate Distribution to Orange County (Rebate should be paid
within 60 days of receipt of increment funding)
Total Rebate
Fiscal Year
2026
$2,014,745.05
$1,803,695.00
$3,818,440.05
52.7636%
47.2364%
$241,108.50
$241,108.50
Upon receipt of Orange County's payment as set forth in paragraph 5 (a) hereof, the City hereby agrees
to rebate, or cause the CRA to rebate to Orange County each year, within sixty days of receipt of said
payment, the following portion of the amount deposited by Orange County in the Community
Redevelopment Trust fund established by the City pursuant to Section 163.387, Florida Statutes, for the
particular year (such payment being herein referred to as the "Rebate")
(1) Thirty percent (30%) of the amount in excess of $1,000,000.00 but less than or equal to
$2,000,000.00, plus,
(2) Fifty percent (50%) of the amount in excess of $2,000,000.00
Prepared by OMB 2 of 2 10/30/2025 jt
Page 47 of 50
AMY MERCADO
elDIRLANDO'fORL),'
RATE
6.6,500"
MILL CODE
TOTAL
7
19.0878
8
18.0878
13
19.0878
22
18.1386
25
18.1386
26
18.1386
27
18.1386
28
18.0878
36
18.1386
71
18.0878
77
19.0878
78
18.0878
88
18.3720
89
18.3720
90
19.1243
91
19.2844
92
19.2844
93
19.1243
94
18.5321
95
18.1386
I 1111AITLANDEM7 RATE
RATE
MILL CODE
TOTAL
35
16.4386
65
16.3878
WINIDIER144 '99 (INW,
RATE
3.7425
MILL CODE
TOTAL
35
15.2311
75
15.4839
JOAKLAND (OAK),,,,, RATE
6,.700,0,,
MILL CODE TOTAL
65 18.1378
EATONV,,ILLE?PL), RATE
7 7:2938,
MILL CODE TOTAL
11 18.7316
34 19.0196
SAY LAKE (SAY) RATE
f2-250
MILL CODE TOTAL
70 26.1372
:LAKE" SUF-t4A",VjATA,,(Lpy,)'I
�,i RATE
MILL CODE
TOTAL
35
14.1079
70
26.5315
5.2425
MILL CODE TOTAL 'UNINC.REED YCRW(RC)RATE
6 16.3055
MILL CODE TOTAL
70 25.7165
I INC,ORPORATEP�,(,OR,P),,,
RATE
4A347
MILL CODE
TOTAL
10
16.1366
11
16.0858
12
17.3358
13
16.9852
14
16.9344
15
16.3920
16
16.3412
17
16.9471
18
18.1401
19
17.5469
20
16.6608
21
17.2915
23
16.5858
24
16.1366
29
16.1366
30
16.0858
31
17.1956
32
16.0858
33
16.1063
35
16.1366
37
16.2744
38
16.7058
39
18.0858
40
16.8452
41
18.6195
42
19.4681
43
18.8749
45
17.8455
47
17.1577
53
16.1029
54
16.0858
65
16.0858
66
16.7366
67
16.6858
68
16.9894
70
25.7165
75
16.3894
82
16.7403
83
19.0858
84
17.5889
85
16.9957
88
16.3700
89
16.3700
90
17.1223
92
17.2824
93
17.1223
94
16.5301
Page 48 of 50
Computation of CRA Payment
Ocoee CRA
0001-023-0420-8340
FY 21
FY 22
FY 23
FY 24
FY 25
FY 26
A.
Current Year Taxable Value
1. OMB Estimate
Percent Change
2020 Tax Roil
331,740,144
1.7 %
2021 Tax Roil
357,346,190
1.0 %
2022 Tax Roil
386,839,265
8.1 %
2023 Tax Roll
472,979948
-3.0 %
2024 Tax Roll
486,184,055
8.7 %
2025 Tax Roll
574,194,345
-1.7
2. Prop. Appr. Best Estimate
337,474,204
360,772,423
418,232,320
458,849,083
528,704,709
564,170,614
Percent Change
3. DR 420
Percent Change
4. DR 422 (1st Final Tax Roll)
1.9%
343,978,328
0.7 %
346,265,688
-0.3%1
359,559,036
0.0%1
359,516,046
0.6%1 1
420,697,440
0.0%
420,650,9681-1
0.1%1
459,165913
-0.5%
456,939,901
1 0.0%1 1
528,704,709
0.1 %
29,
5211,378
0.4
566,492,039
3.4 % 1
585,926,088
B.
Percent Change
5. Post VAB (2nd Final Tax Roll) €.
Base Year Taxable Value
0.0 % ''.
346,265,688
157,484,822
0.0%
359,516,046
157,484,822
-0,4%1 1
419,075,389
157 1,822
0.0 %
= 456,939 901
157,484,822
-0.1 %
528,899,771
157,484,822
157,484,822:
C. Cur Yr Incremental Taxable Val. [A - B]
1. OMB Estimate
2. Prop. Appr. Best Estimate
-3. DR 420
4. DR 422
5. Post VAB
174,255,322
179,989,382
186,493,506
188,780,866
188,780,866
199,861,368
203,287,601
202,074,214
202,031,224
202,031,224
229,354,443
260,747,498 (
263,2.12,618
263,166,146
261,590,567
315,495 126
301,364,261
`. 301,681091'-371,219,887
299,455,079 (
': 299,455,079
328,699,233
371,219,887 (
(.. 371,726,556 (
i371,414,949
416,709,523
406,685,792
409,007,217'
428,441,266 )
Current Year Countywide Millage
4.4347'.
4.4347
4.4347
4.4347
4.4347
4A347
LD.
E. Est. Incremental Tax Rev [(C/1000)*D]
-1. OMB Estimate
2. Prop. Appr. Best Estimate
3. DR 420 '::
4. DR 422
5. Post VAB
772,770
798,199
827043
837:187
837,187
886,325 ;:
901,520 (
`,896,139
895,948 (
` 895,948 <.
1,017,118
1,156,337 (
1,167,269
1,167,063 (
1,160,076
1,399126
1,336,460
1,337865
1,327,993 (
1,327.,993
1,457,682
1,646,249 ( (
': 1,646,249
( 1,648,496 ( (
- 1,647,114
`}1,847,982
1,803,529
-1,813,824
1,900,008 )
F. Amount Due to CRA [E*.95]
1. OMB Estimate
2. Prop. Appr. Best Estimate
3, DR 420 -:
4.DR422
5. Post VAB
734,132
758,289
785,691:
795,327
795,327
` 842,009 =
856,444 )
i.851,332
851,150 (
851,150
966,262
1,098,520 (
1,108,906
1,108,710 ( (
1,102,072
1,329170
1,269,637
1,270,972
1,261,594 (
1,261,594
4 1,384,798
1,563,936
1,563,936
( 1,566,071 ( (
1,564,758
'1,755,583 [:
1,713,353
1,723,133
1,805,008�
G.
Adj for Prior FY Over -/Under -Payment
0
0
0
(6,638)
0
(1,313)
H.
Payment Due [F + G]
1, OMB Estimate
Percent Change
734,132
3.3%
842,009
1.7%
966,262
93.7%
1,322 532
-4.5%
1,384,798
12.9%
1,754,270
-2.4%1
2. Prop. Appr. Best Estimate
758,289 ''.
856,444
1,098,520
1,262,999
1,5651%0
1,712,040
Percent Change
3.DR420 --- Percent Change
4. DR 422
3.6%''..
785,691
1.2%
795,327
-0.6 %
851,332
0.0%....:
851,150
. 0.9%1 1
1,108,906
00/
1,108,710
0.1%1
1,264334
-07/
1,254,956
1 0.0%1 1
1,563,936
0.1%
1,566,071
0.6
1,721,820
___. 4.8%
I:1,803,695f
Percent Change
-5. Post VAB
0.0 %
795,327
0.0%
` 851,150
-0.6%1 1
1,102,072
0.0 %
1,254956
-0.1
1,564,758
I.
Budget Proposed Workshop
Payment
J.
Budget Adopted (Based on DR 420)
Payment
801,405 ''.
868,359
1,108,906
1,327,551
1,642,133
K.
Budget Required (Per DR 422
Payment
795,327 ''..
851,150
1,108,710
1,254,956
1,566,071
L.
Budget Adjustment Required [K - J]
Payment
M.
lAdjusted Current Budget [J + L]
Payment
N.
Computation of Over -/Under -Payment
Actual Paid
795,327
851,150
1,108,710
1,254,956
1,566,071
Should Pay (Based on Post VAB)
795,327 ''.
851,150
1,102,072
1,254,956
1,564,758
Amount Over-/ (Under-) Paid
0 ''..
0
6,638
0
1,313
Taxable value growth rate used for OMB est.
7.5 % ''.
3.2 %
7.6 %
12.4 %
6A % i
8.5
Footnotes:
Computation of CRA Payments (CRITR Trax)/Ocoee 10/29/2025 jw Page 49 of 50
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