RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY (A component unit of the City of Riviera Beach, Florida) Audited Financial Statements Fiscal year ended September 30, 2018 HCT Certified Public Accountants & Consultants, LLC 3816 Hollywood Boulevard, Suite 203 Hollywood, Florida 33021 Telephone: (954) 966-4435 Facsimile: (954) 962-7747
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RIVIERA BEACH
COMMUNITY REDEVELOPMENT AGENCY
(A component unit of the City of Riviera Beach, Florida)
Audited Financial Statements
Fiscal year ended September 30, 2018
HCT Certified Public Accountants & Consultants, LLC
3816 Hollywood Boulevard, Suite 203
Hollywood, Florida 33021
Telephone: (954) 966-4435
Facsimile: (954) 962-7747
RIVIERA BEACH
COMMUNITY REDEVELOPMENT AGENCY
(A component unit of the City of Riviera Beach, Florida)
Audited Financial Statements
Fiscal year ended September 30, 2018
RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY
(A component unit of the City of Riviera Beach, Florida)
TABLE OF CONTENTS
Page No.
Independent Auditor’s Report 1
Management’s Discussion and Analysis 3
Basic Financial Statements
Government-wide Financial Statements:
Statement of Net Position 9
Statement of Activities 11
Fund Financial Statements:
Governmental Funds Financial Statements:
Balance Sheet 12
Reconciliation of the Balance Sheet of Governmental Funds to the
Statement of Net Position 13
Statement of Revenues, Expenditures, and Changes in Fund Balances 14
Reconciliation of the Statement of Revenues, Expenditures, and
Changes in Fund Balances to the Statement of Activities 15
Proprietary Funds Financial Statements:
Statement of Net Position 16
Statement of Revenues, Expenses, and Changes in Net Position 17
Statement of Cash Flows 18
Notes to the Basic Financial Statements 19
Required Supplementary Information
Schedule of Revenues, Expenditures and Changes in Fund Balance -
Budget and Actual – General Fund 32
Notes to the Schedule of Revenues, Expenditures and Changes in Fund Balance -
Budget and Actual – General Fund 33
Compliance Section
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 34
Schedule of Expenditures of Federal Awards 36
Notes to the Schedule of Expenditures of Federal Awards 37
Management Letter in Accordance with the Rules of the Auditor General of the 40
State of Florida
Independent Auditors’ Report on Compliance with Section 218.415, Florida Statutes, 42
HCT Certified Public Accountants & Consultants, LLC
West Palm Beach Phone (561) 655-2664
Miami Phone (305) 331-8768
Hollywood Phone (954) 966-4435
INDEPENDENT AUDITOR’S REPORT
To the Board of Directors The Riviera Beach Community Redevelopment Agency Riviera Beach, Florida
We have audited the accompanying financial statements of the governmental activities, business-type activities, and each major fund of the Riviera Beach Community Redevelopment Agency (the Agency), a component unit of the City of Riviera Beach, Florida, as of and for the year ended September 30, 2018, and the related notes to the financial statements, which collectively comprise the Agency’s basic financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes 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.
Auditor’s Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. 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, and Chapter 10.550, Rules of the Auditor General. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements 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 entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
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Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, business-type activities, and each major fund of the Agency as of September 30, 2018, and the respective changes in financial position thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Other Matters
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 on pages 3–9 and 41–42 respectively be presented to supplement the 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. 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 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 March 27, 2019, on our consideration of the Agency, a component unit of the City’s internal control over financial reporting and on our tests of compliance with certain provisions of laws, regulations, contracts and grant agreements and other matters. The purpose of that report is 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 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 Agency, a component unit of the City’s, internal control over financial reporting and compliance.
HCT Certified Public Accountants & Consultants, LLC
Hollywood, Florida March 27, 2019
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Management’s Discussion and Analysis _____________________________________
RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY
(A component unit of the City of Riviera Beach, Florida)
MANAGEMENT’S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2018
The Riviera Beach Community Redevelopment Agency (Agency) Management’s Discussion and Analysis
(MD&A) is intended to provide the readers of the Agency’s financial statements with a general overview of the
financial activities during Fiscal Year (FY) 2018. This report and related financial statements include the
consolidated financial position and result of activities of the Riviera Beach CDE, Inc., which is a controlled entity
of the Agency. Refer to Note 1 of the Notes to the Basic Financial Statements. The information in this section
should be read in conjunction with the financial statements and the notes.
HIGHLIGHTS
Financial Highlights
For FY 2018, the Agency’s total net position increased by $3.129 million, or 34.77%, which is a significant
improvement from the prior year’s deficit of $8.999 million.
FY 2018 total revenues increased by $7.839 million, or 16.55%, over those reported in the prior year. This is
due mainly to an increase of 9.74% for tax increment financing revenues.
FY 2018 total expenditures decreased by $0.732 million, or 7.87%, over those reported in the prior year. This
is due mainly to a reduction in expenditures for the redevelopment program and interest costs.
OVERVIEW OF FINANCIAL STATEMENTS
The Agency’s basic financial statements provide information on both the Agency as a whole (government-wide)
and the major individual funds.
Government-Wide Financial Statements
The government-wide financial statements provide readers with a broad overview of the Agency’s finances, in
a similar manner to a private-sector business. The government-wide financial statements are prepared using the
accrual basis of accounting.
The government-wide financial statements include:
Statement of Net Position – This statement presents information on the Agency’s assets, deferred outflows of
resources, liabilities, and deferred inflows of resources. This statement format combines and consolidates the
governmental funds’ current financial resources with capital assets and long-term obligations.
Statement of Activities – This statement presents information showing how the Agency’s net position changed
during the fiscal year. All changes in revenues are reported as soon as the underlying event giving rise to the
change occurs, regardless of the timing of related cash flows. Revenues and expenses are reported in this statement
for some items that will result in cash flows in future fiscal periods.
The government-wide financial statements present functions of the Agency that are principally supported by
tax increment financing (governmental activities). The governmental activities of the Agency include general
government activities and redevelopment projects.
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RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY
(A component unit of the City of Riviera Beach, Florida)
MANAGEMENT’S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2018
Fund Financial Statements
Fund financial statements provide readers with an overview of each fund and its related function in a traditional
format. A fund is a grouping of related accounts that maintain control over resources that are segregated for
specific activities or objectives. The Agency uses fund accounting to ensure and demonstrate legal compliance
with financial related legal requirements. The General Fund is the only governmental fund that is used to account
for the operating activities of the Agency. The General Fund also includes the activities of the redevelopment
programs which are funded by restricted debt proceeds.
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, the
governmental fund financial statements focus on near-term inflows and outflows of spendable resources and
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.
The focus of governmental funds is narrower than government-wide financial statements and, therefore, useful
to compare the information presented for governmental funds with similar information presented for
governmental activities in the government-wide financial statements. The Balance Sheet – Governmental Funds
and Statement of Revenues, Expenditures, and Changes in Fund Balance – Governmental Funds are reconciled
to the government-wide statements to facilitate the comparison between the two presentations.
Notes to the Basic Financial Statements
The Notes to the Basic Financial Statements provide additional information that is essential to the full
understanding of the information presented in the government-wide and the fund financial statements and is
required by generally accepted accounting principles.
Required Supplementary Information
In addition to the basis financial statements and accompanying notes, this report also presents required
supplementary information concerning the Agency’s budget to actual results for the General Fund. The Agency
adopts an annual appropriated budget for the General Fund.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
Net position may serve as a useful indicator over time of the Agency’s financial position. Assets and deferred
outflows of resources were less than liabilities and deferred inflows of resources by $8.601 million as of September
30, 2018, an increase of $2.994 million, or 25.82%, over last fiscal year. The following is a condensed version of
the Statement of Net Position presented in the basic financial statements section.
The remainder of this page was left blank intentionally.
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RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY
(A component unit of the City of Riviera Beach, Florida)
MANAGEMENT’S DISCUSSION AND ANALYSIS
SEPTEMBER 30, 2018
Condensed Statement of Net Position
Governmental Business-type Total
2018 2017 2018 2017 2018 2017
Current and other assets $ 16,445,347 $ 14,666,880 $ 5,571,930 $ 5,353,262 $ 22,017,277 $ 20,020,142
Capital assets 6,713,523 6,634,493 8,653,925 8,976,068 15,367,448 15,610,561
Total assets 23,158,870 21,301,373 14,225,855 14,329,330 37,384,725 35,630,703
Deferred outflows of resources 507,709 125,889 - - 507,709 125,889
Current and other liabilities 3,861,493 2,589,972 90,390 67,469 3,951,883 2,657,441
Lease and common area maintenance 456,005 456,005 379,355 (76,650)
Miscellaneous 51,000 51,000 288,643 237,643
Total revenues 8,981,537 8,981,537 9,136,029 154,492
Expenditures
General government 3,248,525 3,248,525 2,865,663 382,862
Real estate and redevelopment program 4,312,521 4,312,521 2,188,382 2,124,139
Capital outlay 1,000,000 1,000,000 408,447 591,553
Debt service:
Principal 2,305,703 2,305,703 2,305,866 (163)
Interest and debt service costs 904,651 904,651 793,389 111,262
Total expenditures 11,771,400 11,771,400 8,561,747 3,209,654
Excess (deficiency) of revenues
over (under) expenditures
(2,789,863)
(2,789,863)
574,282
(3,364,145)
Other financing sources (uses)
Transfers in 200,000 200,000 486,477 (286,477)
Transfers out (810,000) (810,000) (486,477) (323,523)
Use of reserves 3,399,863 3,399,863 - 3,399,863
Total other financing sources (uses) 2,789,863 2,789,863 - 2,789,863
Net change in fund balance 574,282
Fund balance - Beginning 4,130,700
Fund balance – Ending $ 4,704,982
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RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY
(A component unit of the City of Riviera Beach, Florida)
NOTE TO SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL – GENERAL FUND
SEPTEMBER 30, 2018
NOTE 1 –BUDGETARY ACCOUNTING
The Agency prepares its budget for the General Fund on a basis consistent with generally accepted accounting
principles. The procedures for establishing budgetary data reflected on the budgetary comparison schedule are as
follows:
Approximately July 1, the Executive Director submits to the Agency Board a proposed operating budget prepared for the fiscal year commencing the following October 1. The operating budget includes proposed
expenditures and the means of financing them.
Public hearings are conducted to obtain taxpayer comments.
Prior to October 1, the budget is legally enacted through the passage of a resolution.
Appropriations are legally controlled at the fund level and expenditures may not legally exceed budgeted
appropriations.
For the year ended September 30, 2018, expenditures did not exceed appropriations. Budgetary appropriations
for capital outlay were higher than actual expenditures.
HCT Certified Public Accountants & Consultants, LLC
West Palm Beach Phone (561) 655-2664
Miami Phone (305) 331-8768
Hollywood Phone (954) 966-4435
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
To the Board of Directors Riviera Beach Community Redevelopment Agency
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 governmental activities, the business-type activities, and each major fund information of the Riviera Beach Community Redevelopment Agency (the ‘Agency’), a component unit of the City of Riviera Beach, Florida as of and for the year ended September 30, 2018, and the related notes to the financial statements, which collectively comprise the Agency’s basic financial statements, and have issued our report thereon dated March 27, 2019.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the Agency’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Agency’s internal control. Accordingly, we do not express an opinion on the effectiveness of the Agency’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 may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Agency’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with
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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 noncompliance 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 entity’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 entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
HCT Certified Public Accountants & Consultants, LLC
Hollywood, Florida March 27, 2019
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RIVERIA BEACH COMMUNITY REDEVELOPMENT AGENCY
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended September 30, 2018
See Notes to the Schedule of Expenditures of Federal Awards.
No federal expenditures in fiscal year 2018.
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RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY
NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
For the Year Ended September 30, 2018
NOTE 1—BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant
activity of the Riviera Beach Community Redevelopment Agency (the RBCRA) under programs of the
federal government for the year ended September 30, 2018. The information in this Schedule is
presented in accordance with the requirements of OMB Circular A-133, Audits of States, Local
Governments, and Non-Profit Organizations. Because the Schedule presents only a selected portion of
the operations of the CRA , it is not intended to and does not present the financial position, changes in
Net Position, or cash flows of the CRA .
NOTE B—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost
Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are
not allowable or are limited as to reimbursement.
(2) Pass-through entity identifying numbers are presented where available.
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I - SUMMARY OF AUDITOR'S RESULTS
1. The auditor's report expresses an unmodified opinion on the financial statements of the CRA.
2. No material weaknesses disclosed during the audit of the financial statements were reported in the
report on internal control over financial reporting and on compliance.
3. No instances of noncompliance material to the financial statements of the CRA were disclosed
during the audit.
4. No uniform guidance procedures were performed as required by OMB Circular A-133 due to the
expenditure threshold not being met for fiscal year ended September 30, 2018.
5. There is no auditor's report on compliance for the major federal award programs for the CRA as
required by OMB Circular A-133 due to the expenditure threshold not being met for fiscal year
ended September 30, 2018.
6. There are no audit findings due to be reported in accordance with Section 510(a) of OMB Circular
A-133 in this schedule due to the expenditure threshold not being met for fiscal year ended
September 30, 2018.
7. The programs tested as major programs were:
Due to the expenditure threshold not being met for fiscal year ended September 30, 2018 no
programs were tested as major programs.
8. The threshold for distinguishing Types A and B programs was $300,000.
9. The CRA did not have OMB Circular A-133 nor State of Florida Single Audit Act audit
procedures performed due to the expenditure threshold not being met for fiscal year ended
September 30, 2018.
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II – FINDINGS FINANCIAL STATEMENT AUDIT
Prior year
NONE.
Current year
NONE.
III – FINDINGS AND QUESTIONED COSTS-MAJOR FEDERAL AWARD PROGRAMS
AUDIT
Prior Year
NONE
Current year
The CRA did not have OMB Circular A-133 nor State of Florida Single Audit Act audit procedures
performed due to the expenditure threshold not being met for fiscal year ended September 30, 2018.
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HCT Certified Public Accountants & Consultants, LLC
West Palm Beach Phone (561) 655-2664
Miami Phone (305) 331-8768
Hollywood Phone (954) 966-4435
MANAGEMENT LETTER
To the Board of Directors The Riviera Beach Community Redevelopment Agency Riviera Beach, Florida Report on the Financial Statements We have audited the financial statements of the Riviera Beach Community Redevelopment Agency (a component unit of the City of Riviera Beach); (the “Agency”) as of and for the fiscal year ended September 30, 2018, and have issued our report thereon dated March 27, 2019. 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 Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standard; and the Independent Accountant’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports and schedule, which are dated March 27, 2019, 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 have been no such findings or recommendations made in the current annual financial audit report nor in the preceding. 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 and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. The Agency’s official title is disclosed in Note 1 to the Financial Statement. The Agency has no component units. Financial Condition and Management Section 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 Agency has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the Agency did not meet any of the conditions described in Section 218.503(1), Florida Statutes.
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Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for the Agency. It is management’s responsibility to monitor the Agency’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 any such recommendations. 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. Additional Matters Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred or are likely to have occurred, that have 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 Board of Directors, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties. We would like to thank the management and staff of the Agency for the opportunity to be of service to them in this endeavor as well as future engagements, and for their assistance and courtesy extended to us.
HCT Certified Public Accountants & Consultants, LLC
Hollywood, Florida March 27, 2019
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HCT Certified Public Accountants & Consultants, LLC
West Palm Beach Phone (561) 655-2664
Miami Phone (305) 331-8768
Hollywood Phone (954) 966-4435
INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES, LOCAL GOVERNMENT INVESTMENT POLICIES
To the Board of Directors The Riviera Beach Community Redevelopment Agency Riviera Beach, Florida We have audited the financial statements of the Riviera Beach Community Redevelopment Agency (a component unit of the City of Riviera Beach) (the Agency) as of and for the year ended September 30, 2018, and have issued our report thereon dated March 27, 2019. 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 Florida Auditor General. Other Reports and Schedule
We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards, Schedule of Findings and Questioned Costs; the Independent Accountant’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General, and the management letter in accordance with the rules of the Auditor General of the State of Florida. Disclosures in those reports and schedule, which are dated March 27, 2019, should be considered in conjunction with this report. Local Government Investment Policies
We have examined the Agency’s compliance with the requirements of Section 218.415, Florida Statutes, Local Government Investment Policies, during the year ended September 30, 2018. Management is responsible for Agency’s compliance with those requirements. Our responsibility is to express an opinion on the Agency's compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Agency’s compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Agency’s compliance with specified requirements. In our opinion, the Agency complied, in all material respects, with the aforementioned requirements for the year ended September 30, 2018. This report is intended solely for the information and use of
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management and the State of Florida Auditor General and is not intended to be and should not be used by anyone other than these specified parties.
HCT Certified Public Accountants & Consultants, LLC