Community Redevelopment Agency

CITY OF BELLEVIEW AGENDA Community Redevelopment Agency 5343 SE Abshier Boulevard Seat 2 Ray Dwyer, Member Belleview, Florida 34420 Seat 3 Ronald T Livsey, Member July 21, 2026 Seat 4 Robert "BO" Smith, Member 6:00 PM Christine Dobkowski, Chair Seat 1 Michael Goldman, Member In accordance with the Americans with Disabilities Act, persons needing assistance in any of these proceedings should contact the City Clerk's Office at least 48 hours prior to the meeting: 5343 SE Abshier Blvd. Belleview, FL 34420 (352) 245-7021 Ext. 2109 1. Moment of Silence/Pledge of Allegiance 2. ROLL CALL OF BOARD MEMBERS 3. APPROVAL OF MINUTES 3.a Approval of the 03-17-2026 CRA Meeting Minutes 03-17-2026 CRA Minutes 4. CRA BUSINESS 4.a Approval of CRA Audit Engagement Letter with Purvis Gray and Company, LLP CRA Professional Auditing Services Engagement Letter 4.b CRA 2025 Independent Auditors Report 2025 Final Audit City of Belleview CRA 2025 Audit Letter City of Belleview CRA 4.c Abandoned Property Registration Update 5. ADJOURN  Approval of Minutes COMMUNITY REDEVELOPMENT AGENCY AGENDA ITEM REPORT DATE OF MEETING: July 21, 2026 AGENDA ITEM: Approval of the 03-17-2026 CRA Meeting Minutes PRESENTING PARTY: Mayor Dobkowski ITEM TYPE: Approval of Minutes BACKGROUND: RECOMMENDED ACTIONS: Motion to approve as received or as amended the 03-17-2026 CRA Meeting Minutes ATTACHMENTS: 03-17-2026 CRA Minutes The Commission reserves the right to postpone any decision on audience, or walk-in requests until sufficient time has been allowed for review of documentation.  CITY OF BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY MINUTES Belleview City Hall Chair: CHRISTINE K. DOBKOWSKI Commission Room Member MICHAEL J. GOLDMAN 5343 SE Abshier Blvd. Member RAY DWYER Belleview, FL 34420 Member RONALD T. LIVSEY March 17, 2026 Member ROBERT "BO" SMITH 6:00 PM The CRA Meeting was convened at 7:50 PM following the Commission Meeting. ROLL CALL OF BOARD MEMBERS: Present: Livsey, Smith, Goldman, Dwyer, Dobkowski CRA AGENDA: a. Approval of 12-16-25 CRA Meeting Minutes Motion made by Member Livsey to approve the 12-16-2025 Minutes; Seconded by Member Smith. Motion was approved by roll call vote. Ayes: Livsey, Smith, Goldman, Dwyer, Dobkowski b. Second Quarter Updates Administrator Moody stated the City's financial statements are currently under review. With the recent transition in the Finance Department, the new Comptroller is conducting a review of the financials, which remain subject to the FY 2024-2025 audit process. As the financial information is still being verified, staff does not have finalized figures to present to the CRA Board at this time. Staff will provide a full financial update and project recommendations at the next quarterly CRA meeting once the review is complete Meeting adjourned at 7:52 PM by Chair Dobkowski. Attest: _________________________ Lezli Merritt City Clerk 03/17/2026 DBCRA Meeting Page 1 of 1  Approval of CRA Audit Engagement COMMUNITY REDEVELOPMENT AGENCY AGENDA ITEM REPORT DATE OF MEETING: July 21, 2026 AGENDA ITEM: Approval of CRA Audit Engagement Letter with Purvis Gray and Company, LLP PRESENTING PARTY: Mariah Moody, City Administrator ITEM TYPE: Action Items BACKGROUND: Staff requests approval of the Audit Engagement Letter between the Downtown Belleview Community Redevelopment Agency and Purvis Gray and Company, LLP for professional auditing services for fiscal years ending September 30, 2026 through September 30, 2028, with two optional renewal years. The engagement includes the annual financial statement audit and required state compliance examinations. Audit fees are estimated at $6,450 for FY 2026, $6,650 for FY 2027, and $6,850 for FY 2028 RECOMMENDED ACTIONS: Motion to approve the Audit Engagement Letter with Purvis Gray and Company, LLP for auditing services for fiscal years 2026 through 2028 and authorize the CRA Chair to execute the agreement and authorize the City Administrator to execute any administrative documents necessary to implement the engagement. ATTACHMENTS: CRA Professional Auditing Services Engagement Letter The Commission reserves the right to postpone any decision on audience, or walk-in requests until sufficient time has been allowed for review of documentation.  June 2, 2026 AUDIT ENGAGEMENT LETTER City of Belleview Attn: Ms. Mariah Moody, City Administrator 5343 S.E. Abshier Blvd. Belleview, Florida 34420 We are pleased to confirm our understanding of the services we are to provide for the Downtown Belleview Community Redevelopment Area (the CRA) the City of Belleview, Florida for the years ended 2026 through 2028, with two optional years. This audit engagement letter can be terminated or amended, and extended, as mutually agreed upon by the parties. Audit Scope and Objectives We will audit the financial statements of the governmental activities and the disclosures, which collectively comprise the basic financial statements of the CRA as of and for the years ended September 30, 2026 through 2028, with two optional years. Accounting standards generally accepted in the United States of America (GAAP) provide for certain required supplementary information (RSI), such as management’s discussion and analysis, to supplement the CRA’s basic financial statements. Such information, 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. As part of our engagement, we will apply certain limited procedures to the CRA’s RSI in accordance with auditing standards generally accepted in the United States of America (GAAS). These limited procedures will consist of inquiries of management regarding 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 will not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient appropriate evidence to express an opinion or provide any assurance. The following RSI is required by GAAP and will be subjected to certain limited procedures, but will not be audited: 1) Management’s Discussion and Analysis 2) Budgetary Comparison Schedule The objectives of our audit are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error issue an auditor’s report that includes our opinion about whether your financial statements are fairly presented, in all material respects, in conformity with GAAP, and report on the fairness of the supplementary information referred to in the second paragraph when considered in relation to the financial statements as a whole. Reasonable City of Belleview Attn: Ms. Mariah Moody, City Administrator Belleview, Florida -2- June 2, 2026 assurance is a high level of assurance but is not absolute assurance and, therefore, is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always detect a material misstatement when it exists. Misstatements, including omissions, can arise from fraud or error and are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment of a reasonable user made based on the financial statements. The objectives also include reporting on internal control over financial reporting and compliance with provisions of laws, regulations, contracts, and award agreements, non-compliance with which could have a material effect on the financial statements in accordance with Government Auditing Standards. In addition, separate attestation reports pursuant to the American Institute of Certified Public Accountants Professional Standards AT-C Section 315 are required to be issued regarding the CRA’s compliance with Sections 163.387(6) and (7), Florida Statutes and the CRA’s compliance with Section 218.415, Florida Statutes, in accordance with Chapter 10.550, Rules of the Auditor General. Auditor’s Responsibilities for the Audit of the Financial Statements We will conduct our audit in accordance with GAAS and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and will include tests of your accounting records of the CRA and other procedures we consider necessary to enable us to express such opinions. As part of an audit in accordance with GAAS and Government Auditing Standards, we exercise professional judgment and maintain professional skepticism throughout the audit. We will evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management. We will also evaluate the overall presentation of the financial statements, including the disclosures, and determine whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We will plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether from: (1) errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or (4) violations of laws or governmental regulations that are attributable to the CRA or to acts by management or employees acting on behalf of the CRA. Because the determination of waste and abuse is subjective, Government Auditing Standards do not expect auditors to perform specific procedures to detect waste or abuse in financial audits nor do they expect auditors to provide reasonable assurance of detecting waste or abuse. Because of the inherent limitations of an audit, combined with the inherent limitations of internal control, and because we will not perform a detailed examination of all transactions, there is an unavoidable risk that some material misstatements may not be detected by us, even though the audit is properly planned and performed in accordance with GAAS and Government Auditing Standards. In addition, an audit is not designed to detect immaterial misstatements or violations of laws or governmental regulations that do not have a direct and material effect on the financial statements or on major programs. However, we will inform the appropriate level of management of any material errors, fraudulent financial reporting, or misappropriation of assets that comes to our attention. We will also inform the appropriate level of management of any violations of laws or governmental regulations that come to our attention, unless clearly inconsequential. Our responsibility as auditors is limited to the period covered by our audit and does not extend to any later periods for which we are not engaged as auditors. City of Belleview Attn: Ms. Mariah Moody, City Administrator Belleview, Florida -3- June 2, 2026 We will also conclude, based on the audit evidence obtained, 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 a reasonable period of time. Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, tests of the physical existence of inventories, and direct confirmation of receivables and certain assets and liabilities by correspondence with selected individuals, funding sources, creditors, and financial institutions. We will also request written representations from your attorneys as part of the engagement. We have identified the following significant risk of material misstatement as part of our audit planning: ■ Potential risk related to management override of internal controls. Our audit of financial statements does not relieve you of your responsibilities. Audit Procedures—Internal Control We will obtain an understanding of the CRA and its environment, including the system of internal control, sufficient to identify and assess the risks of material misstatement of the financial statements, whether due to error or fraud, and to design and perform audit procedures responsive to those risks and obtain evidence that is sufficient and appropriate to provide a basis for our opinions. Tests of controls may be performed to test the effectiveness of certain controls that we consider relevant to preventing and detecting errors and fraud that are material to the financial statements and to preventing and detecting misstatements resulting from illegal acts and other non-compliance matters that have a direct and material effect on the financial statements. Our tests, if performed, will be less in scope than would be necessary to render an opinion on internal control and, accordingly, no opinion will be expressed in our report on internal control issued pursuant to Government Auditing Standards. 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, misrepresentation, or the override of internal control. An audit is not designed to provide assurance on internal control or to identify significant deficiencies or material weaknesses. Accordingly, we will express no such opinion. However, during the audit, we will communicate to management and those charged with governance internal control-related matters that are required to be communicated under American Institute of Certified Public Accountants professional standards and Government Auditing Standards. Audit Procedures—Compliance As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we will perform tests of the CRA’s compliance with the provisions of applicable laws, regulations, contracts, agreements, and grants. However, the objective of our audit will not be to provide an opinion on overall compliance, and we will not express such an opinion in our report on compliance issued pursuant to Government Auditing Standards. Responsibilities of Management for the Financial Statements Our audit will be conducted on the basis that you acknowledge and understand your responsibility for designing, implementing, establishing, and maintaining effective internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error, and for evaluating and monitoring ongoing activities to help ensure that appropriate goals and objectives are met; following laws and regulations; and ensuring that management City of Belleview Attn: Ms. Mariah Moody, City Administrator Belleview, Florida -4- June 2, 2026 and financial information is reliable and properly reported. Management is also responsible for implementing systems designed to achieve compliance with applicable laws, regulations, contracts and grant agreements. You are also responsible for the selection and application of accounting principles, for the preparation and fair presentation of the financial statements, and all accompanying information in conformity with accounting principles generally accepted in the United States of America, and for compliance with applicable laws and regulations and the provisions of contracts and grant agreements. Management is responsible for making drafts of financial statements, all financial records, and related information available to us; for the accuracy and completeness of that information (including information from outside of the general and subsidiary ledgers). You are also responsible for providing us with: (1) access to all information of which you are aware that is relevant to the preparation and fair presentation of the financial statements, such as records, documentation, identification of all related parties and all related-party relationships and transactions, and other matters; (2) additional information that we may request for the purpose of the audit; and (3) unrestricted access to persons within the CRA from whom we determine it necessary to obtain audit evidence. At the conclusion of our audit, we will require certain written representations from you about your responsibilities for the financial statements; compliance with laws, regulations, contracts and grant agreements; and other responsibilities required by GAAS and Government Auditing Standards. Your responsibilities include adjusting the financial statements to correct material misstatements and for confirming to us in the written representation letter that the effects of any uncorrected misstatements aggregated by us during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements of each opinion unit taken as a whole. You are responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the CRA involving: (1) management, (2) employees who have significant roles in internal control, and (3) others where the fraud could have a material effect on the financial statements. Your responsibilities include informing us of your knowledge of any allegations of fraud or suspected fraud affecting the CRA received in communications from employees, former employees, grantors, regulators, or others. In addition, you are responsible for identifying and ensuring that the CRA complies with applicable laws, regulations, contracts, agreements, and grants and for taking timely and appropriate steps to remedy fraud and non-compliance with provisions of laws, regulations, or contracts or grant agreements that we report. You are responsible for the preparation of the supplementary information which we have been engaged to report on, in conformity with GAAP. You agree to include our report on the supplementary information in any document that contains, and indicates that we have reported on, the supplementary information. You also agree to include the audited financial statements with any presentation of the supplementary information that includes our report thereon. Your responsibilities include acknowledging to us in the written representation letter that: (1) you are responsible for presentation of the supplementary information in accordance with GAAP; (2) you believe the supplementary information, including its form and content, is fairly presented in accordance with GAAP; (3) the methods of measurement or presentation have not changed from those used in the prior period (or, if they have changed, the reasons for such changes); and (4) you have disclosed to us any significant assumptions or interpretations underlying the measurement or presentation of the supplementary information. City of Belleview Attn: Ms. Mariah Moody, City Administrator Belleview, Florida -5- June 2, 2026 Management is responsible for establishing and maintaining a process for tracking the status of audit findings and recommendations. Management is also responsible for identifying and providing report copies of previous financial audits, attestation engagements, performance audits or other studies related to the objectives discussed in the Audit Scope and Objectives section of this letter. This responsibility includes relaying to us corrective actions taken to address significant findings and recommendations resulting from those audits, attestation engagements, performance audits, or other studies. You are also responsible for providing management’s views on our current findings, conclusions, and recommendations, as well as your planned corrective actions, for the report, and for the timing and format for providing that information. Examination Reports An examination report will be issued by us regarding compliance with the following: ■ Independent Accountant’s Report on Compliance with Ch. 218.415, Florida Statues ■ Independent Accountant’s Report on Compliance with Ch. 163.387(6) and (7), Florida Statues The objectives of our examination are to: (1) obtain reasonable assurance about whether the report (as applicable) is free from material misstatement based on the applicable criteria; and (2) to express an opinion as to whether the subject matter is presented and/or the CRA complied, in all material respects, in accordance with the specified requirements. Our examination will be conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Accordingly, it will include examining, on a test basis, your records and other procedures to obtain evidence necessary to enable us to express our opinion. We will issue a written report upon completion of our examination. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion. If our opinion is other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the examination or are unable to form or have not formed an opinion, we may decline to express an opinion or may withdraw from this engagement. Because of the inherent limitations of an examination engagement, together with the inherent limitations of internal control, an unavoidable risk exists that some material misstatements may not be detected, even though the examination is properly planned and performed in accordance with the attestation standards. Our examination does not provide a legal determination on the CRA’s compliance with the specified requirements. The examination reports are solely to comply with the specified requirements and are not suitable for any other purpose. We will plan and perform the examination to obtain reasonable assurance about whether the subject matter is free from material misstatement and/or the City complied, based on the specified requirements. Our engagement will not include a detailed inspection of every transaction and cannot be relied on to disclose all material errors, known and suspected fraud or non-compliance with laws or regulations, or internal control deficiencies that may exist. However, we will inform you of any known and suspected fraud and non-compliance with laws or regulations, internal control deficiencies identified during the engagement, and uncorrected misstatements that come to our attention, unless clearly trivial. City of Belleview Attn: Ms. Mariah Moody, City Administrator Belleview, Florida -6- June 2, 2026 We understand that you will provide us with the information required for our examination and that you are responsible for the accuracy and completeness of that information. We may advise you about appropriate criteria, but the responsibility for the subject matter remains with you. You are responsible for the presentation of the subject matter being examined in accordance with and for compliance with the specified requirements; and for selecting the criteria and determining that such criteria are appropriate for your purposes. You are responsible for, and agree to provide us with, a written assertion about whether the subject matter is presented in accordance with and/or you are in compliance with the specified requirements. Failure to provide such an assertion will result in our withdrawal from the engagement. You are also responsible for providing us with: (1) access to all information of which you are aware that is relevant to the measurement, evaluation, or disclosure of the subject matter; (2) additional information that we may request for the purpose of the examination; and (3) unrestricted access to persons within the CRA from whom we determine it necessary to obtain evidence. At the conclusion of the examination engagement, you agree to provide us with certain written representations in the form of a representation letter. Other Services We will also assist in preparing the financial statements and related notes of the CRA in conformity with accounting principles generally accepted in the United States of America based on information provided by you. These non-audit services do not constitute an audit under Government Auditing Standards and such services will not be conducted in accordance with Government Auditing Standards. We will perform the services in accordance with applicable professional standards. The other services are limited to the financial statements, schedule of expenditures of federal awards, and related notes services previously defined. We, in our sole professional judgment, reserve the right to refuse to perform any procedure or take any action that could be construed as assuming management responsibilities. You agree to assume all management responsibilities relating to the financial statements and related notes and any other non-audit services we provide. You will be required to acknowledge in the management representation letter our assistance with preparation of the financial statements and related notes and that you have reviewed and approved the financial statements and related notes prior to their issuance and have accepted responsibility for them. Further, you agree to oversee the non-audit services by designating an individual, preferably from senior management, with suitable skill, knowledge, or experience; evaluate the adequacy and results of those services; and accept responsibility for them. Engagement Administration, Fees, and Other We will schedule the engagement based in part on deadlines, working conditions, and the availability of your key personnel. We will plan the engagement based on the assumption that your personnel will cooperate and provide assistance by performing tasks such as preparing requested schedules, retrieving supporting documents, and preparing confirmations and schedules. If, for whatever reason, your personnel are unavailable to provide the necessary assistance in a timely manner, it may substantially increase the work we have to do to complete the engagement within the established deadlines, resulting in an increase in fees over our original fee estimate. Items that will likely increase the agreed-upon fee include: ■ Assistance with matters designated as management’s responsibility, including preparation of schedules and closing entries. City of Belleview Attn: Ms. Mariah Moody, City Administrator Belleview, Florida -7- June 2, 2026 ■ Submission of audit data within 60 days of a client requested completion date or filing deadline, requiring overtime hours to meet the deadline. ■ Changes in accounting pronouncements, professional standards, laws, and regulations not known to us as of the date of this letter, that have a significant impact on time requirements. ■ Changes in the operations and significant matters that materially change the audit scope such as evaluation of the impact of joint ventures, debt issuance, refunding, or advance extinguishment, notice of material events, enforcement actions, required corrective actions, self-insurance, environmental liabilities, or going concern. ■ Follow up on allegations or discovery of: (1) non-compliance with laws, regulations, and policies; (2) fraud, waste, and abuse; or (3) significant deficiencies in internal control. Our invoices will be rendered each month as work progresses and are payable on presentation. If we elect to terminate our services for non-payment, our engagement will be deemed to have been completed upon written notification of termination, even if we have not completed our reports. You will be obligated to compensate us for all time expended and to reimburse us for all out-of-pocket costs through the date of termination. We will provide copies of our reports to the CRA; however, management is responsible for distribution of the reports and the financial statements. Unless restricted by law or regulation, or containing privileged and confidential information, copies of our reports are to be made available for public inspection. The audit documentation for this engagement is the property of Purvis, Gray and Company, LLP and constitutes confidential information. However, subject to applicable laws and regulations, audit documentation and appropriate individuals will be made available upon request and in a timely manner to the U.S. Government Accountability Office or its designee for purposes of a quality review of the audit, to resolve audit findings, or to carry out oversight responsibilities. We will notify you of any such request. If requested, access to such audit documentation will be provided under the supervision of Purvis, Gray and Company, LLP personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies. The audit documentation for this engagement will be retained for a minimum of five years after the report release date or for any additional period requested by a federal or state agency. If we are aware that a federal awarding agency, pass-through entity, or auditee is contesting an audit finding, we will contact the party(ies) contesting the audit finding for guidance prior to destroying the audit documentation. Alison L. Stone, CPA is the engagement director and Helen Y. Painter, CPA is the engagement partner, and both are responsible for supervising the engagement and signing the reports or authorizing another individual to sign them. We expect to begin our final fieldwork in December of each year and issue our final reports by March 31 annually if no unforeseeable circumstances occur. Our fee for these services will be based on the actual time spent at our standard hourly rates. Our estimate of fee for these services are as follows: Fiscal Year CRA Audit September 30, 2026 $ 6,450 September 30, 2027 6,650 September 30, 2028 6,850 Years ending September 30, 2029 and 2030, will be discussed with management at that time. City of Belleview Attn: Ms. Mariah Moody, City Administrator Belleview, Florida -8- June 2, 2026 Reporting We will issue a written report upon completion of our audit of the CRA’s financial statements. Our report will be addressed to management and the City Commission. Circumstances may arise in which our report may differ from its expected form and content based on the results of our audit. Depending on the nature of these circumstances, it may be necessary for us to modify our opinions, add a separate section, or add an emphasis-of-matter or other-matter paragraph to our auditor’s report, or if necessary, withdraw from this engagement. If our opinions are other than unmodified, we will discuss the reasons with you in advance. If, for any reason, we are unable to complete the audit or are unable to form or have not formed opinions, we may decline to express opinions or issue reports, or we may withdraw from this engagement. We will also provide a report (that does not include an opinion) on internal control related to the financial statements and compliance with the provisions of laws, regulations, contracts, and grant agreements, non-compliance with which could have a material effect on the financial statements as required by Government Auditing Standards. The report on internal control and on compliance and other matters will state: (1) that the purpose of the report is solely to describe the scope of 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 on compliance, and (2) that the report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the CRA’s internal control and compliance. The report will also state that the report is not suitable for any other purpose. If during our audit we become aware that the CRA is subject to an audit requirement that is not encompassed in the terms of this engagement, we will communicate to management and those charged with governance that an audit in accordance with U.S. generally accepted auditing standards and the standards for financial audits contained in Government Auditing Standards may not satisfy the relevant legal, regulatory, or contractual requirements. We appreciate the opportunity to be of service to the CRA and believe this letter accurately summarizes the significant terms of our engagement. If you have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign and return it to us. Respectfully Submitted, PURVIS, GRAY AND COMPANY, LLP Alison L. Stone, CPA Audit Director Helen Y. Painter, CPA Audit Partner HYP/ALS/jlk City of Belleview Attn: Ms. Mariah Moody, City Administrator Belleview, Florida -9- June 2, 2026 RESPONSE: This letter correctly sets for the understanding of the Downtown Belleview Community Redevelopment Area of the City of Belleview, Florida. Management Signature: Title: Date:  2025 Independent Auditors Report COMMUNITY REDEVELOPMENT AGENCY AGENDA ITEM REPORT DATE OF MEETING: July 21, 2026 AGENDA ITEM: CRA 2025 Independent Auditors Report PRESENTING PARTY: Mariah Moody, City Administrator ITEM TYPE: Presentation BACKGROUND: Purvis Gray has reviewed the 2025 financial activity of the CRA and is presenting their report. RECOMMENDED ACTIONS: No Action Required ATTACHMENTS: 2025 Final Audit City of Belleview CRA 2025 Audit Letter City of Belleview CRA The Commission reserves the right to postpone any decision on audience, or walk-in requests until sufficient time has been allowed for review of documentation. 2025 Downtown Belleview Community Redevelopment Agency Financial Statements and Independent Auditor’s Report September 30, 2025  FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR’S REPORT DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY BELLEVIEW, FLORIDA SEPTEMBER 30, 2025 TABLE OF CONTENTS Independent Auditor’s Report ............................................................................................................. 1-3 Management’s Discussion and Analysis............................................................................................... 4-8 Financial Statements Governmental Fund Balance Sheet and Statement of Net Position ....................................................... 9 Governmental Fund Statement of Revenues, Expenditures, and Changes in Fund Balance and Statement of Activities ...................................................................... 10 Notes to Financial Statements ....................................................................................................... 11-13 Required Supplementary Information Schedule of Revenues, Expenditures, and Changes in Fund Balance – Budget and Actual ........................................................................................................................... 14 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 ...................................................................... 15-16 Independent Accountant’s Report on Compliance with Section 163.387(6) and (7), Florida Statutes .................................................................................... 17 Independent Accountant’s Report on Compliance with Section 218.415, Florida Statutes – Investment of Public Funds ....................................................... 18 Management Letter ...................................................................................................................... 19-21  INDEPENDENT AUDITOR’S REPORT The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida Opinions We have audited the accompanying financial statements of the governmental activities and the major fund of the Downtown Belleview Community Redevelopment Agency (the CRA), a component unit of the City of Belleview, 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 basic 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 governmental activities and the major fund of the CRA, as of September 30, 2025, and the respective changes in financial position 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 and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. 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. 1 The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida INDEPENDENT AUDITOR’S REPORT 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 and, therefore, is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government 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 Government Auditing Standards, 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 and budgetary comparison information 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 2 The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida INDEPENDENT AUDITOR’S REPORT 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 information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 30, 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, 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. This report is intended solely for the information and use of the Board of Directors, City Commission, and the Florida Auditor General, and is not intended to be, and should not be, used by anyone other than these specified parties. June 30, 2026 Ocala, Florida 3  DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY CITY OF BELLEVIEW, FLORIDA MANAGEMENT’S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2025 This supplement to the Independent Auditor’s Report and Financial Statements has been developed in accordance with Governmental Accounting Standards Board (GASB) Statement No. 34. It is intended to provide the readers of this report with a general overview of the financial activities of the Downtown Belleview Community Redevelopment Agency (the CRA). The CRA provides the following discussion and analysis of the CRA’s financial activities for the fiscal year ended September 30, 2025. Management’s Discussion and Analysis is designed to: (a) assist the reader to focus on significant financial issues, (b) provide an overview of the CRA’s financial activities, (c) identify changes in the CRA’s financial position, (d) identify material deviations from the financial plan, and (e) identify individual fund issues or concerns. We encourage readers to consider the information presented here in conjunction with the CRA’s financial statements. The CRA The CRA was created under Chapter 163, Florida Statutes (2007), and Ordinance No. 2013-08 of the City of Belleview (the City). The Governing Board of the CRA (the Board) is the Belleview City Commission and, therefore, the City exercises significant influence over its operations and fiscal management. The CRA is considered a component unit for financial reporting purposes and is included as a blended special revenue fund within the City’s overall basic financial statements. These financial statements are presented for the purpose of complying with state law, specifically Florida Statute Section 163.387(8)(a), which requires separate audited financial statements for each Community Redevelopment Agency that has revenues or expenditures that exceed $100,000. Financial Highlights ■ The CRA’s fund balance increased by $255,147 as a result of 2025 operations. ■ Revenues for fiscal year 2025 were $129,426 (Marion County’s portion of property taxes that stay in the CRA) plus investment income, while expenditures totaled $6,175. Transfers in to the CRA totaled $130,896 (the City’s portion of property taxes that stay in the CRA). ■ For the period ended September 30, 2025, actual revenues were $14,117 more than budgeted revenues and actual expenditures agreed to budgeted expenditures. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the CRA’s basic financial statements, which are comprised of the following four (4) components: ■ Government-Wide Financial Statements ■ Fund Financial Statements ■ Notes to the Financial Statements ■ Required Supplementary Information 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. 4  DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY CITY OF BELLEVIEW, FLORIDA MANAGEMENT’S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2025 The Statement of Net Position presents financial information on all of the CRA’s assets and liabilities, 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 CRA’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 for some items that will only result in cash flows in future fiscal periods. The government-wide financial statements listed above distinguish functions of the CRA that are principally supported by ad-valorem taxes and intergovernmental revenues (governmental activities). The governmental activity of the CRA is community redevelopment. The government-wide financial statements include only the activities of the CRA. However, the CRA is considered a blended component unit of the City and, as such, the financial information of the CRA is included in the City’s Annual Comprehensive Financial Report for each fiscal year. 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 uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. 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 the CRA’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 CRA’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. Special Revenue Funds. Special revenue funds are used to account for and report the proceeds of specific revenue sources that are restricted or committed to expenditures for specified purposes other than debt service or capital projects. The CRA’s expendable financial resources and the related liabilities are accounted for through a special revenue fund. 5  DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY CITY OF BELLEVIEW, FLORIDA MANAGEMENT’S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2025 Restricted Fund Balance. Fund balance should be reported as restricted when constraints placed on the use of resources such as enabling legislative, which authorizes the government to access, levy, charge, or otherwise mandate payment of resources. All of the CRA’s fund balance is considered restricted. 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. Required Supplementary Information Included in this section of the report is the Budgetary Comparison Schedule. Government-Wide Financial Analysis Statement of Net Position As noted earlier, net position may serve over time as a useful indicator of the CRA’s financial position. In the case of the CRA, assets exceeded liabilities by $683,457 (net position) as of the close of the most recent fiscal year, an increase of $254,147 in comparison with the prior year. The following table reflects a summary of the Statement of Net Position for the current and prior year: Downtown Belleview Community Redevelopment Agency 2025 2024 Assets Cash and Cash Equivalents $ 683,457 $ 428,310 Total Assets 683,457 428,310 Liabilities and Net Position Total Liabilities - - Net Position Restricted 683,457 428,310 Total Net Position 683,457 428,310 Total Liabilities and Net Position $ 683,457 $ 428,310 Statement of Activities Fiscal year 2025 activities increased the CRA’s net position by $255,147 or 59% in comparison with the prior year. This substantial increase occurred due to no transfers out of the CRA for applicable projects. The 2025 fiscal year earnings will go into CRA reserves and held for future projects. The following table reflects the Statement of Changes in Net Position for the current and prior year: 6  DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY CITY OF BELLEVIEW, FLORIDA MANAGEMENT’S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2025 Downtown Belleview Community Redevelopment Agency 2025 2024 Revenues Property Taxes $ 112,309 $ 97,469 Investment Income 17,117 11,358 Total Revenues 129,426 108,827 Expenditures Current: Economic Development 6,175 5,175 Total Expenditures 6,175 5,175 Excess of Revenues Over Expenditures 123,251 103,652 Other Financing Sources (Uses) Transfers In 130,896 113,600 Net Change in Fund Balance 254,147 217,252 Net Position, Beginning of Year 428,310 211,058 Net Position, End of Year $ 682,457 $ 428,310 Financial Analysis of the CRA’s Funds 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. The CRA’s fund balance of $683,457 is restricted for redevelopment projects within the CRA District. Property taxes totaling $112,309 represented approximately 87% of all revenues. The CRA’s fund balance increased by $255,147 in the current year. The increase in tax increment financing revenues received by the CRA in the current year resulted from increased property values within the CRA District. Capital Assets and Debt Administration The CRA’s capital assets are considered to be property of the City and, therefore, are included as capital assets in the City’s government-wide financial statements. Capital asset activity for the year ended September 30, 2025, can be found in the City’s audited financial statements. At September 30, 2025, the CRA had no long-term debt. 7  DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY CITY OF BELLEVIEW, FLORIDA MANAGEMENT’S DISCUSSION AND ANALYSIS SEPTEMBER 30, 2025 Budgetary Highlights An annual budget is prepared for the CRA and approved by the CRA Board. The legal level of control is maintained at the fund level. In the 2025 fiscal year, the $445,175 budget appropriations approved by the CRA Board were not changed during the year. All 2025 earnings will be held in the CRA reserves. Budget appropriations may not be legally exceeded on a fund basis. Appropriations lapse at the end of the fiscal year. The budget is adopted on a basis consistent with generally accepted accounting principles. Economic Factors and Future Developments The CRA will continue to plan projects and infrastructure improvements that align with its redevelopment priorities for the designated District. The CRA will continue to implement the community’s shared development goals through its redevelopment strategies and critical tasks. Request for Information This financial information is designed to present users with a general overview of the CRA’s finances for all those with an interest in its finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the Downtown Belleview Community Redevelopment Agency located at 5343 SE Abshier Blvd, Belleview, Florida 34420. 8 FINANCIAL STATEMENTS  DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY GOVERNMENTAL FUND BALANCE SHEET AND STATEMENT OF NET POSITION SEPTEMBER 30, 2025 Special Adjustments Statement of Revenue Fund (Note 2) Net Position Assets Cash and Cash Equivalents $ 683,457 $ - $ 683,457 Total Assets 683,457 - 683,457 Total Liabilities - - - Fund Balance Restricted 683,457 (683,457) - Total Fund Balance 683,457 (683,457) - Total Liabilities and Fund Balance $ 683,457 Net Position Restricted for: Community Redevelopment Projects 683,457 683,457 Total Net Position $ 683,457 $ 683,457 See accompanying notes. 9  DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY GOVERNMENTAL FUND STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE AND STATEMENT OF ACTIVITIES SEPTEMBER 30, 2025 Special Adjustments Statement of Revenue Fund (Note 2) Activities Revenues Property Taxes $ 112,309 $ - $ 112,309 Investment Income 17,117 - 17,117 Total Revenues 129,426 - 129,426 Expenditures Current: General Government 5,175 - 5,175 Total Expenditures 5,175 - 5,175 Excess of Revenue Over Expenditures 124,251 - 124,251 Other Financing Sources (Uses) Transfers In 130,896 - 130,896 Total Other Financing Sources (Uses) 130,896 - 130,896 Net Change in Fund Balance 255,147 - 255,147 Fund Balance/Net Position, Beginning of Year 428,310 - 428,310 Fund Balance/Net Position, End of Year $ 683,457 $ - $ 683,457 See accompanying notes. 10  NOTES TO FINANCIAL STATEMENTS DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY BELLEVIEW, FLORIDA Note 1 - Summary of Significant Accounting Policies The Downtown Belleview Community Redevelopment Agency’s (the CRA) financial statements are prepared in accordance with generally accepted accounting principles, as applicable to governments. The following is a summary of the more significant policies: Reporting Entity The CRA was created under Florida Statutes, Chapter 163.410 and Ordinance No. 2013-08 of the City of Belleview, Florida (the City). The purpose of the CRA is to establish the redevelopment priorities for the designated CRA. The Governing Board of the CRA (the Board) is the City Commission and the Mayor, the Chair of the CRA; therefore, the City exercises significant influence over its operations and fiscal management. The CRA is considered a component unit for financial reporting purposes and is included as a blended special revenue fund within the City’s overall basic financial statements. Financial Statements These financial statements are presented for the purpose of complying with state law, specifically Florida Statutes, Section 163.387(8)(a), which requires separate audited financial statements for each Community Redevelopment Agency that has revenues or expenditures that exceed $100,000. Entity-wide financial statements are prepared at the City-wide level by the City and include the CRA. Copies of that report can be obtained from the City’s Office of Budget and Finance. Measurement Focus, Basis of Accounting, and Financial Statement Presentation Government-Wide Financial Statements 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 the related cash flows. Property taxes are recognized as revenue 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. Fund Financial Statements 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, except for debt service expenditures, which are recorded only when payment is due. Considering that the fund statements are presented on a different measurement focus and basis of accounting than the government-wide governmental activities column, a reconciliation is sometimes necessary to explain the adjustments needed to reconcile the fund-based financial statements to the governmental activities column of the government-wide presentation. 11  NOTES TO FINANCIAL STATEMENTS DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY BELLEVIEW, FLORIDA Tax increment financing revenue, when levied for, and interest associated with the current fiscal period, are both considered to be measurable and have been recognized as revenues of the current fiscal year, if available. When both restricted and unrestricted resources are available for use, it is the CRA’s policy to use restricted resources first, and then unrestricted resources as they are needed. The CRA reports the special revenue fund as a major governmental fund. The general fund is used to account for all financial resources received by the CRA. The general fund serves as the primary operating fund of the CRA. The CRA does not have any non-major funds. Budgetary Requirements An annual budget is prepared for all funds of the City, including the CRA. The budget amounts presented in the accompanying financial statements are as originally adopted, or as legally amended, by the City Commission during the year ended September 30, 2025. The City Administrator is authorized to transfer budgeted amounts between departments within any fund; however, any budget amendments that alter the total expenditures of any fund must be approved by the City Commission. Budget appropriations may not be legally exceeded on a fund basis. Appropriations lapse at the end of each fiscal year. The budget is adopted on a basis consistent with generally accepted accounting principles. Assets, Liabilities, and Net Position Cash and Cash Equivalents and Investments The CRA participates in the City’s pooled cash account and is considered to be a cash equivalent since each fund can effectively deposit or withdraw funds at any time without prior notice or penalty. Nature and Purpose of the Fund Balance In the fund financial statements, the governmental fund reports fund classifications that comprise a hierarchy based primarily on the extent to which the CRA is bound to honor constraints on the specific purposes for which amounts in the fund can be spent. Amounts that are restricted to specific purposes either by: a) constraints placed on the use of resources by creditors, grantors, contributors, or laws or regulations of other governments; or b) imposed by law through constitutional provisions or enabling legislation are classified as restricted fund balances. Amounts that can only be used for specific purposes pursuant to constraints imposed by the CRA Board through an ordinance or resolution are classified as committed fund balances. Amounts that are constrained by the CRA’s intent to be used for specific purposes but are neither restricted nor committed are classified as assigned fund balances. Assignments are made by the CRA Board or the City Administrator. Non-spendable fund balances include amounts that cannot be spent because they are either: a) not in spendable form, or b) legally or contractually required to be maintained intact. Unassigned fund balance represents fund balance that is not restricted, committed, or assigned to specific purposes within the special revenue fund. Unspent tax increment financing revenues are restricted for future redevelopment projects and are reported as restricted fund balance in the financial statements. 12  NOTES TO FINANCIAL STATEMENTS DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY BELLEVIEW, FLORIDA Net Position The government-wide statements utilized a net position presentation. Restricted net position are unspent tax increment financing revenues that are restricted for future redevelopment projects. Unrestricted net position represents the net position of the CRA that is not restricted for any project or purpose. Other Significant Accounting Policies 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 expenses during the reporting period. Actual results could differ from those estimates. Transfers The CRA makes transfers to the general fund for capital outlay and other related costs incurred for the CRA’s redevelopment and infrastructure projects, when applicable. Note 2 - Explanation of Certain Differences Between the Government-Wide and Fund Financial Statements Governmental Fund Balance Sheet and the Government-Wide Statement of Net Position The governmental fund balance sheet includes a reconciliation between fund balance – total governmental funds and net position of governmental activities as reported in the government-wide statement of net position. Note 3 - Cash and Equity in Pooled Cash and Investments At September 30, 2025, the carrying amount of the CRA’s cash deposits was, and the back balance is, $683,457. These funds are a part of the City’s cash deposits. The City’s cash deposits are held by a bank that qualifies as a public depository under the Florida Security for Public Deposits Act as required by Chapter 280, Florida Statutes. The City maintains an investment policy managing pooled cash and investments. Further information on the City’s pooled cash and investments can be found in the notes to the annual financial statements of the City. Note 4 - Tax Increment Financing Revenue The CRA is primarily funded through tax increment financing revenue. The tax increment shall be computed by using the assessed value of taxable real property in the CRA for the year 2013 as the base year, and in subsequent years using the assessed value of real property in the CRA for that year as the second factor in determining the amount of tax increment accruing in that year. 13 REQUIRED SUPPLEMENTARY INFORMATION  DOWNTOWN BELLEVIEW COMMUNITY REDEVELOPMENT AGENCY SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SEPTEMBER 30, 2025 Budgeted Amounts Original Final Actual Variance Revenues Property Taxes $ 112,309 $ 112,309 $ 112,309 $ - Investment Income 3,000 3,000 17,117 14,117 Total Revenues 115,309 115,309 129,426 14,117 Expenditures Current: Other Uses 5,175 5,175 5,175 - Total Expenditures 5,175 5,175 5,175 - Excess of Revenues Over Expenditures 110,134 110,134 124,251 14,117 Other Financing Sources (Uses) Transfers In 130,896 130,896 130,896 - Transfers Out (440,000) (440,000) - 440,000 Total Other Financing Sources (Uses) (309,104) (309,104) 130,896 440,000 Net Change in Fund Balance (198,970) (198,970) 255,147 454,117 Fund Balances, Beginning of Year (128,240) (128,240) 428,310 556,550 Fund Balances, End of Year $ (327,210) $ (327,210) $ 683,457 $ 1,010,667 14 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 The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, 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 Downtown Belleview 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 June 30, 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 on 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 on the CRA’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 15 The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, 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 GOVERNMENT AUDITING STANDARDS the financial statements. However, providing an opinion on compliance with such 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. June 30, 2026 Ocala, Florida 16  INDEPENDENT ACCOUNTANT’S REPORT ON COMPLIANCE WITH SECTION 163.387(6) AND (7), FLORIDA STATUTES The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida We have examined the Downtown Belleview 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. We are required to be independent and meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. Our examination does not provide a legal determination on the CRA’s compliance with specific requirements. 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 City Commission of the City of Belleview, Florida, and is not intended to be, and should not be, used by anyone other than these specified parties. June 30, 2026 Ocala, Florida 17  INDEPENDENT ACCOUNTANT’S REPORT ON COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES - INVESTMENTS OF PUBLIC FUNDS The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida We have examined the Downtown Belleview Community Redevelopment Agency’s (the CRA) compliance with the requirements of Section 218.415, Florida Statutes, during the fiscal year ended September 30, 2025. CRA 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 specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material non-compliance, whether due to fraud or error. We believe that the evidence is sufficient and appropriate to provide a reasonable basis for our opinion. We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the engagement. Our examination does not provide a legal determination on the CRA’s compliance with specified requirements. In our opinion, the CRA complied, in all material respects, with the aforementioned requirements during the year ended September 30, 2025. The report is intended solely for the information and use of the Florida Auditor General, the City Commission of the City of Belleview, Florida, and applicable management, and is not intended to be, and should not be, used by anyone other than these specified parties. June 30, 2026 Ocala, Florida 18  MANAGEMENT LETTER The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida Report on the Financial Statements We have audited the financial statements of the Downtown Belleview Community Redevelopment Agency (the CRA) as of and for the year ended September 30, 2025. 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 Reports 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 June 30, 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 annual financial audit report. There were no findings and recommendations made in the preceding annual financial audit 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 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. 19 The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, 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 communicate any recommendations to improve financial management. In connection with our audit, we did not have such recommendations. Property Assessed Clean Energy (PACE) Programs As required by Section 10.554(1)(i)6.a., Rules of the Auditor General, the City is required to include a statement as to whether a PACE program authorized pursuant to Section 163.081 or Section 163.082, Florida Statutes, did not operate within the City’s geographical boundaries during the fiscal year audit. In connection with our audit, the PACE program did not operate within the CRA’s geographical boundaries during the fiscal year. Special District Component Units Section 10.554(1)(i)5.c., 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. Specific Information 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 is required but not subject to audit procedures: ■ The total number of district employees compensated in the last pay period of the district’s fiscal year as 0. ■ The total number of independent contractors to whom non-employee compensation was paid in the last month of the district’s fiscal year as 0. ■ All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency as $0. ■ All compensation earned by or awarded to non-employee independent contractor, whether paid or accrued, regardless of contingency as $0. ■ Each construction project with a total cost of at least $65,000 approved by the district that is scheduled to begin on or after October 1 of the fiscal year being reported, together with the total expenditures for such project as – no such projects for September 30, 2025. 20 The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida MANAGEMENT LETTER ■ A budget variance based on the budget adopted under Section 189.016(4), Florida Statutes, before the beginning of the fiscal year being reported in the district amends a final adopted budget under Section 189.016(6), Florida Statutes, noted there was no change from the original to the final budget as referenced in these financial statements. 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 are 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 Commission of the City of Belleview, Florida and management, and is not intended to be, and should not be, used by anyone other than these specified parties. June 30, 2026 Ocala, Florida 21  COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida We have audited the financial statements of the governmental activities and the major fund of the Downtown Belleview Community Redevelopment Agency (the CRA), a component unit of the City of Belleview, Florida (the City), for the year ended September 30, 2025. Professional standards require that we provide you with the information about our responsibilities under generally accepted auditing standards, Government Auditing Standards, and the Uniform Guidance, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you dated May 11, 2021. Professional standards also require that we communicate to you the following information related to our audit. Significant Audit Matters Qualitative Aspects of Accounting Practices Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the CRA are described in Note 1 to the financial statements. No new accounting policies were adopted, and the application of existing policies was not changed during the year ended September 30, 2025. We noted no transactions entered into by the CRA during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period. Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events, and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. No significant accounting estimates were noted during our audit. The financial statement disclosures are neutral, consistent, and clear. Difficulties Encountered in Performing the Audit We encountered no significant difficulties in dealing with management in performing and completing our audit. Corrected and Uncorrected Misstatements Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. Management has corrected all such misstatements. In addition, none of the misstatements detected as a result of audit procedures and corrected by management were material, either individually or in the aggregate, to each opinion unit’s financial statements taken as a whole. 1 The Board of Directors Downtown Belleview Community Redevelopment Agency Belleview, Florida Disagreements with Management For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit. Management Representations We have requested certain representations from management that are included in the management representation letter dated June 30, 2026. Management Consultations with Other Independent Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the CRA’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants. Other Audit Findings or Issues We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the CRA’s auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention. Other Matters We applied certain limited procedures on the required supplementary information (RSI) that supplements the basic financial statements. Our procedures consisted of inquiries of management regarding 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 did not audit the RSI and do not express an opinion or provide any assurance on the RSI. Property Tax Proposal Subsequent to year-end, the Florida Legislature approved a proposed constitutional amendment that will be presented to Florida voters during the November 2026 general election. If approved by at least 60 percent of voters, the amendment would significantly increase the homestead property tax exemption for non-school ad valorem taxes and reduce the annual assessment growth limitation for certain non- homestead properties. Management is considering what potential impact this could have on the City and the CRA. Restriction on Use This information is intended solely for the use of the City Commission and management of the CRA, and is not intended to be, and should not be, used by anyone other than these specified parties. June 30, 2026 Ocala, Florida 2  Abandoned Property Registration Update COMMUNITY REDEVELOPMENT AGENCY AGENDA ITEM REPORT DATE OF MEETING: July 21, 2026 AGENDA ITEM: Abandoned Property Registration Update PRESENTING PARTY: Shawna Chancey, Development Services Director ITEM TYPE: General Information Items BACKGROUND: Update on Abandoned Property Registrations within the CRA. RECOMMENDED ACTIONS: ATTACHMENTS: The Commission reserves the right to postpone any decision on audience, or walk-in requests until sufficient time has been allowed for review of documentation.